Aptamer Group Limited - Period Ending 2016-03-31

Registration number: 09061413

Aptamer Group Limited
 
  Annual Report and Unaudited Abbreviated Accounts
 
  for the Period from 1 June 2015 to 31 March 2016

 

Winburn Glass Norfolk
Chartered Accountants
Convention House
St. Mary's Street
Leeds
LS9 7DP

Aptamer Group Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 6

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 6) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Aptamer Group Limited
for the Period Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Aptamer Group Limited for the period ended 31 March 2016 set out on pages 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 at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Aptamer Group Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Aptamer Group Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Aptamer Group Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Aptamer Group Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Aptamer Group Limited. You consider that Aptamer Group Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Aptamer Group 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 accounts.

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

Winburn Glass Norfolk
Chartered Accountants
Convention House
St. Mary's Street
Leeds
LS9 7DP

21 July 2016

Page 1

Aptamer Group Limited
(Registration number: 09061413)
Abbreviated Balance Sheet at 31 March 2016

		Note			31 March 2016 £			(As restated) 31 May 2015 £
Fixed assets
Tangible fixed assets					20,941			8,087
Investments					412,903			412,903
					433,844			420,990
Current assets
Debtors					421,014			146,640
Cash at bank and in hand					14,952			248,490
					435,966			395,130
Creditors: Amounts falling due within one year					(34,079)			(403,336)
Net current assets/(liabilities)					401,887			(8,206)
Total assets less current liabilities					835,731			412,784
Creditors: Amounts falling due after more than one year					(7,208)			-
Net assets					828,523			412,784
Capital and reserves
Called up share capital		3			16,536			16,932
Share premium account					885,784			395,972
Profit and loss account					(73,797)			(120)
Shareholders' funds					828,523			412,784

For the period ending 31 March 2016 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 21 July 2016 and signed on its behalf by:

.........................................
 Dr David Harry John Bunka
 Director

The notes on pages 3 to 6 form an integral part of these financial statements.
Page 2

Aptamer Group Limited
Notes to the Abbreviated Accounts for the Period from 1 June 2015 to 31 March 2016
......... continued

1	Accounting policies

Change in year end

The Company changed its financial year end from 31 May to 31 March with effect from the current financial period ended 31 March 2016 to align the Aptamer group companies year ends. The financial statements for the current financial period are made up from 1 June 2015 to 31 March 2016.

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 January 2015).

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
Laboratory equipment	16% straight line

Research and development

Research and development expenditure is written off as incurred.

Fixed asset investments

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

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 3

Aptamer Group Limited
Notes to the Abbreviated Accounts for the Period from 1 June 2015 to 31 March 2016
......... 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.

Other creditors at 31 May 2015 of £393,495 are money received from investors which was converted into issued share capital of the Company during the period ended 31 March 2016.

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 June 2015		8,201			412,903			421,104
Additions		16,008			-			16,008
At 31 March 2016		24,209			412,903			437,112
Depreciation
At 1 June 2015		114			-			114
Charge for the period		3,154			-			3,154
At 31 March 2016		3,268			-			3,268
Net book value
At 31 March 2016		20,941			412,903			433,844
At 31 May 2015		8,087			412,903			420,990

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:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
Aptamer Solutions Limited	England and Wales	Ordinary	100%	Research and development on biotechnology
Aptamer Therapeutics Limited	England and Wales	Ordinary	100%	Research and development on biotechnology

Page 4

Aptamer Group Limited
Notes to the Abbreviated Accounts for the Period from 1 June 2015 to 31 March 2016
......... continued

Aptasort Limited

England and Wales

Ordinary

100%

Research and development on biotechnology

The loss for the financial period of Aptamer Solutions Limited was £180,768 and the aggregate amount of capital and reserves at the end of the period was (£118,010).

The loss for the financial period of Aptamer Therapeutics Limited was £60 and the aggregate amount of capital and reserves at the end of the period was (£79).

The loss for the financial period of Aptasort Limited was £2,405 and the aggregate amount of capital and reserves at the end of the period was (£2,424).

3	Share capital

Allotted, called up and fully paid shares

	31 March 2016						Restated   31 May 2015
		No.			£			No.			£
Ordinary Shares of £0.10 each		165,364			16,536			169,322			16,932

New shares allotted

During the period 14,442 ordinary shares having an aggregate nominal value of £1,444 were allotted for an aggregate consideration of £499,982.

Capital Reduction

During the period a special resolution was passed to cancel and extinguish 18,400 ordinary shares of £0.10 each. The share capital and share premium were reduced by £1,840 and £8,727 respectively.

4	Prior period adjustments

The accounts have been restated to recognise all the shares issued in relation to the share for share exchange when Aptamer Group Limited acquired Aptamer Solutions Limited in February 2015. Prior year accounting impact: Increase in investments - £283,711 Increase in called up share capital – £1,639 Increase in share premium - £282,072

Page 5

Aptamer Group Limited
Notes to the Abbreviated Accounts for the Period from 1 June 2015 to 31 March 2016
......... continued

5

Control

The company is controlled by the directors .
 
 

Page 6