Cancer Intelligence Limited - Period Ending 2014-11-30

Registration number: 04595666

Cancer Intelligence Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 November 2014
 

PRWS (Bristol) Limited
Chartered Certified Accountants
11 Alma Vale Road
Clifton
Bristol
BS8 2HL

Cancer Intelligence Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 7

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 7) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Cancer Intelligence Limited
for the Year Ended 30 November 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cancer Intelligence Limited for the year ended 30 November 2014 set out on pages 2 to 7 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Cancer Intelligence Limited, as a body, in accordance with the terms of our engagement letter dated 5 August 2005. Our work has been undertaken solely to prepare for your approval the financial statements of Cancer Intelligence Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cancer Intelligence Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Cancer Intelligence Limited has kept adequate accounting records and to prepare financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Cancer Intelligence Limited. You consider that Cancer Intelligence Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Cancer Intelligence Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

......................................

PRWS (Bristol) Limited
Chartered Certified Accountants
11 Alma Vale Road
Clifton
Bristol
BS8 2HL

24 August 2015

Page 1

Cancer Intelligence Limited
(Registration number: 04595666)
Abbreviated Balance Sheet at 30 November 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					260,513			260,081
Investments					25,796			25,796
					286,309			285,877
Current assets
Debtors					170,878			204,966
Investments					500			500
Cash at bank and in hand					47,439			49,396
					218,817			254,862
Creditors: Amounts falling due within one year					(151,710)			(287,834)
Net current assets/(liabilities)					67,107			(32,972)
Total assets less current liabilities					353,416			252,905
Creditors: Amounts falling due after more than one year					(111,254)			(128,149)
Provisions for liabilities					(6,550)			(6,181)
Net assets					235,612			118,575
Capital and reserves
Called up share capital		4			11			11
Profit and loss account					235,601			118,564
Shareholders' funds					235,612			118,575

The notes on pages 4 to 7 form an integral part of these financial statements.
Page 2

Cancer Intelligence Limited
(Registration number: 04595666)
Abbreviated Balance Sheet at 30 November 2014
......... continued

For the year ending 30 November 2014 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.

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

Approved by the Board on 24 August 2015 and signed on its behalf by:

.........................................
Ms Susi Burke
Director

The notes on pages 4 to 7 form an integral part of these financial statements.
Page 3

Cancer Intelligence Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	20% reducing balance basis

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Current asset investments

Current asset investments are included at the lower of cost and net realisable value.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Page 4

Cancer Intelligence Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2014
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 December 2013		298,061			25,796			323,857
Additions		16,318			-			16,318
Disposals		(16,321)			-			(16,321)
At 30 November 2014		298,058			25,796			323,854
Depreciation
At 1 December 2013		37,980			-			37,980
Charge for the year		9,659			-			9,659
Eliminated on disposals		(10,094)			-			(10,094)
At 30 November 2014		37,545			-			37,545
Net book value
At 30 November 2014		260,513			25,796			286,309
At 30 November 2013		260,081			25,796			285,877

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Page 5

Cancer Intelligence Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2014
......... continued

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
ecancer Limited		Ordinary shares	100%	Dormant
ecancermedicalscience AG	Switzerland	Ordinary	51%	Grant funding organisation

The financial period end of ecancer Limited is 31 May 2014.

The financial period end of ecancermedicalscience AG is 31 December 2013.

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2014 £			2013 £
Amounts falling due within one year		16,843			17,077
Amounts falling due after more than one year		111,254			128,150
Total secured creditors		128,097			145,227

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		11			11			11			11

Page 6

Cancer Intelligence Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2014
......... continued

5	Related party transactions

Directors' advances and credits

	2014 Advance/ Credit £	2014 Repaid £	2013 Advance/ Credit £	2013 Repaid £
Ms Susi Burke
Balance owed by the director to the company on wihich no interest has been charged	169	737	906	-

Page 7