CORTECH HOLDINGS LIMITED

CORTECH HOLDINGS LIMITED

CORTECH HOLDINGS LIMITED - Company Information

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CORTECH HOLDINGS LIMITED

Company Registration Number:
12935444 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2021

Period of accounts

Start date: 07 October 2020

End date: 30 June 2021

CORTECH HOLDINGS LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2021

Balance sheet
Notes

CORTECH HOLDINGS LIMITED

Balance sheet

As at 30 June 2021


Notes
9 months to 30 June 2021


£
Fixed assets
Intangible assets: 3 509,474
Tangible assets: 4 3,094
Total fixed assets: 512,568
Current assets
Stocks: 16,353
Debtors: 5 12,365
Cash at bank and in hand: 5,574
Total current assets: 34,292
Creditors: amounts falling due within one year: 6 (123,288)
Net current assets (liabilities): (88,996)
Total assets less current liabilities: 423,572
Creditors: amounts falling due after more than one year: 7 (435,000)
Total net assets (liabilities): (11,428)
Capital and reserves
Called up share capital: 485,840
Profit and loss account: (497,268)
Shareholders funds: (11,428)

The notes form part of these financial statements

CORTECH HOLDINGS LIMITED

Balance sheet statements

For the year ending 30 June 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 23 August 2021
and signed on behalf of the board by:

Name: Richard Varney
Status: Director

The notes form part of these financial statements

CORTECH HOLDINGS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2021

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

CORTECH HOLDINGS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2021

2. Employees

9 months to 30 June 2021
Average number of employees during the period 3

CORTECH HOLDINGS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2021

3. Intangible Assets

Total
Cost £
Additions 510,538
At 30 June 2021 510,538
Amortisation
Charge for year 1,064
At 30 June 2021 1,064
Net book value
At 30 June 2021 509,474

CORTECH HOLDINGS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2021

4. Tangible Assets

Total
Cost £
Additions 3,178
At 30 June 2021 3,178
Depreciation
Charge for year 84
At 30 June 2021 84
Net book value
At 30 June 2021 3,094

CORTECH HOLDINGS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2021

5. Debtors

9 months to 30 June 2021
£
Debtors due after more than one year: 0

CORTECH HOLDINGS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2021

6. Creditors: amounts falling due within one year note

Accounts payable 60273 Accruals 45764 Taxation 17251

CORTECH HOLDINGS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2021

7. Creditors: amounts falling due after more than one year note

The balance of £435,000 as at 30 June 2021 comprises of an unsecured loan from a shareholder; the loan is interest free and repayable on thirteen months written notice.

CORTECH HOLDINGS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2021

8. Related party transactions

Malcolm Cooke was a director and ordinary shareholder of both Cortech Healthcare Limited and Cortech Innovations Limited on 22 June 2021, being the date of the acquisition of those companies by the Company. Members of Mr Cooke’s family were also shareholders in Cortech Healthcare Limited at the date of its acquisition. Malcolm Cooke is the provider of the shareholder loans referred to in note 8 to these financial statements.Richard Varney was a director of Cortech Healthcare Limited and an ordinary shareholder of both Cortech Healthcare Limited and Cortech Innovations Limited on 22 June 2021, being the date of the acquisition of those companies by the Company.