De Novo (UK) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 04035860 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2022

for

De Novo (UK) Limited

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

W F Keenan

K B Foley

SECRETARY:

K Paternoster

REGISTERED OFFICE:

1 Northumberland Avenue

London

WC2N 5BW

REGISTERED NUMBER:

04035860 (England and Wales)

ACCOUNTANTS:

Charcroft Baker LLP

Chartered Accountants

5 West Court

Enterprise Road

Maidstone

Kent

ME15 6JD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of De Novo (UK) Limited for the year ended 31 December 2022 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of De Novo (UK) Limited, as a body, in accordance with the terms of our engagement letter dated 26 September 2019. Our work has been undertaken solely to prepare for your approval the financial statements of De Novo (UK) Limited and state those matters that we have agreed to state to the Board of Directors of De Novo (UK) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than De Novo (UK) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that De Novo (UK) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of De Novo (UK) Limited. You consider that De Novo (UK) 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 De Novo (UK) 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 statutory financial statements.

Charcroft Baker LLP

Chartered Accountants

5 West Court

Enterprise Road

Maidstone

Kent

ME15 6JD

8 September 2023

CURRENT ASSETS

Debtors

5

3,992

810

Cash at bank

3,486

44,483

7,478

45,293

CREDITORS

Amounts falling due within one year

6

61,964

70,201

NET CURRENT LIABILITIES

(54,486

)

(24,908

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(54,486

)

(24,908

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(54,488

)

(24,910

)

SHAREHOLDERS' FUNDS

(54,486

)

(24,908

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 September 2023 and were signed on its behalf by:

W F Keenan - Director

1.	STATUTORY INFORMATION

De Novo (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Computer equipment

-

20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

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.

Investments

Investments comprise of listed investments which are measured at fair value.

Going concern

These accounts have been prepared on the going concern basis. At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources within the group to continue in operational existence for the foreseeable future and the related parties have confirmed they will not demand repayment of their loans until sufficient cash is available.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2022

and 31 December 2022

1,359

DEPRECIATION

At 1 January 2022

and 31 December 2022

1,359

NET BOOK VALUE

At 31 December 2022

-

At 31 December 2021

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Amounts owed by related parties

2,725

-

Other debtors

1,267

810

3,992

810

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

298

294

Amounts owed to related parties

56,766

65,207

Other creditors

4,900

4,700

61,964

70,201

7.	RELATED PARTY DISCLOSURES

8.	ULTIMATE CONTROLLING PARTY

The immediate controlling party is De Novo Corporation, a company registered in the USA.

The company's ultimate controlling party is W F Keenan, a director, who owns the majority of the share capital of De Novo Corporation.