Vedabio Limited - Accounts

Registered number

04442047

Vedabio Limited

Report and Accounts

31 December 2014

Vedabio Limited
Report and accounts
Contents




Page

Company information	1
Directors' report	2
Profit and loss account	3
Balance sheet	4
Notes to the accounts	5 - 6

Vedabio Limited

Company Information

Directors

Richard Hazzard

Mattia Ghielmini

Secretary

Mayside Secretaries Limited

Accountants

Mann Made Accounting Services Limited

19 - 21 Circular Road

Douglas

Isle of Man

IM1 1AF

Registered office

Fourth Floor

20 Margaret Street

London

United Kingdom

W1W 8RS

Registered number

04442047

Vedabio Limited
Registered number:		04442047
Directors' Report

The directors present their report and accounts for the year ended 31 December 2014.

Principal activities
The company's principal activity during the year continued to be that of an investment company.

Directors
The following persons served as directors during the year:

	Richard Hazzard
	Mattia Ghielmini

Directors' interests
The Director's interests in the share capital of the company were stated as follows;
			Ordinary shares of £1 each
			31 December 2014		31 December 2013
M Ghielmini				500		500
R Hazzard				-		-



Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

This report was approved by the board on 3 November 2015 and signed on its behalf.





Richard Hazzard
Director

Vedabio Limited
Profit and Loss Account
for the year ended 31 December 2014


Notes	2014		2013
€		€


Administrative expenses	(4,375)		(4,456)
Other operating income	3,658		-

Operating loss	(717)		(4,456)


Loss on ordinary activities before taxation	(717)		(4,456)

Tax on loss on ordinary activities	-		-

Loss for the financial year	(717)		(4,456)

Vedabio Limited
Balance Sheet
as at 31 December 2014

Notes			2014			2013
€				€
Fixed assets
Investments	2		490,848			543,448

Current assets
Cash at bank and in hand		162			-

Creditors: amounts falling due within one year	3	(532,243)			(583,964)

Net current liabilities			(532,081)			(583,964)

Net liabilities			(41,233)			(40,516)

Capital and reserves
Called up share capital	4		15,873			15,873
Profit and loss account	5		(57,106)			(56,389)

Shareholders' funds			(41,233)			(40,516)

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.




Richard Hazzard
Director
Approved by the board on 3 November 2015

Vedabio Limited
Notes to the Accounts
for the year ended 31 December 2014

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

	The financial statements have been prepared on the going concern basis. This is considered appropriate as the company’s shareholders and creditors will continue to provide financial support to the company for the foreseeable future. Should the company be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities which might arise.

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

	Foreign currencies
	Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

	Group accounts
	The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a medium-sized group. The company has therefore taken advantage of the exemptions provided by section 248 of the Companies Act 1985 not to prepare group accounts.


2	Investments
Investments in					Loans in
subsidiary					subsidiary
undertakings					undertakings		Total
€					€		€
	Cost
	At 1 January 2014			69,151		474,297		543,448
	Disposals			-		(52,600)		(52,600)

	At 31 December 2014			69,151		421,697		490,848

	The company holds 20% or more of the share capital of the following companies:

Capital and							Profit (loss)
	Company	Shares held				reserves	for the year
		Class		%	€		€
	Vedabio S.A	Ordinary		100		42,693		1,451
	Bio Tekhnologii	Ordinary		100		(98,920)		(44,035)

	The results for Bio Tekhnologii a company incorporated in Russia, are taken from the accounts for the year ended 31 December 2004. The results for Vedabio S.A. a company incorporated in Switzerland, are taken from the accounts for the year ended 31 December 2006.



3	Creditors: amounts falling due within one year					2014		2013
€							€

	Other creditors					532,243		583,964


4	Share capital	Nominal		2014		2014		2013
value			Number		€		€
	Allotted, called up and fully paid:
	10,000 Ordinary shares	£1 each		10,000		15,873		15,873


5	Profit and loss account					2014
€

	At 1 January 2014					(56,389)
	Loss for the year					(717)

	At 31 December 2014					(57,106)


6	Control

	The immediate controlling party is the parent company Kareli Financial Investments Inc., a company incorporated in Panama (2013 – Kareli Financial Investments Inc.).


7	Ultimate controlling party

	The Directors are aware of the identity of the ultimate controlling party. However they are under a duty of confidentiality that prevents them from disclosing certain information required by Financial Reporting Standard No. 8. Therefore they have taken exemption offered by the Standard in respect of confidentiality.