Desktop Genetics Ltd - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 08170120 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2016

for

Desktop Genetics Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

V B M M Dillard

Dr D M Disley

R O Doyle

M Martin

E J L Perello

D P Somers

H Thakrar

REGISTERED OFFICE:

3p1 Cooper House

2 Michael Road

London

SW6 2AD

REGISTERED NUMBER:

08170120 (England and Wales)

ACCOUNTANTS:

BVN Partners LLP

Cooper House 3P1

2 Michael Road

London

SW6 2AD

FIXED ASSETS

Tangible assets

4

19,457

8,815

CURRENT ASSETS

Debtors

5

401,949

40,827

Prepayments and accrued income

27,836

1,468

Cash at bank

494,042

1,294,483

923,827

1,336,778

CREDITORS

Amounts falling due within one year

6

206,743

50,256

NET CURRENT ASSETS

717,084

1,286,522

TOTAL ASSETS LESS CURRENT LIABILITIES

736,541

1,295,337

CAPITAL AND RESERVES

Called up share capital

36

36

Share premium

1,934,108

1,934,108

Retained earnings

(1,197,603

)

(638,807

)

SHAREHOLDERS' FUNDS

736,541

1,295,337

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 2 June 2017 and were signed on its behalf by:

V B M M Dillard - Director

1.	STATUTORY INFORMATION

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

Going concern

Financial Statements are prepared on going concern basis. The directors have a reasonable expectation that the

Company has adequate resources to continue in operational existence for the foreseeable future. Thus they

continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost and 25% on cost

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2016

11,749

Additions

15,685

At 31 December 2016

27,434

DEPRECIATION

At 1 January 2016

2,934

Charge for year

5,043

At 31 December 2016

7,977

NET BOOK VALUE

At 31 December 2016

19,457

At 31 December 2015

8,815

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

159,043

3,236

Amounts owed by group undertakings

99,700

-

Other debtors

143,206

37,591

401,949

40,827

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade creditors

59,941

31,336

Taxation and social security

20,580

15,435

Other creditors

126,222

3,485

206,743

50,256

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.16

31.12.15

£

£

Within one year

38,000

-

Between one and five years

57,000

-

95,000

-

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2016 and

31 December 2015:

31.12.16

31.12.15

£

£

V B M M Dillard

Balance outstanding at start of year

400

233

Amounts advanced

1,385

400

Amounts repaid

(1,061

)

(233

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

724

400

R O Doyle

Balance outstanding at start of year

3,800

1,800

Amounts advanced

960

2,000

Amounts repaid

(4,760

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

3,800

E J L Perello

Balance outstanding at start of year

-

-

Amounts advanced

177

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

177

-

9.	ULTIMATE CONTROLLING PARTY

The board of directors collectively control the company. Together they directly own 1,296 ordinary shares in the

company which represents 68.39% of the issued share capital.