Company Registration No. 10170711 (England and Wales)
AigenPulse Limited
Unaudited accounts
for the year ended 31 March 2019
AigenPulse Limited
Unaudited accounts
Contents
AigenPulse Limited
Company Information
for the year ended 31 March 2019
Directors
Dr Tobias Heinz Kloepper
Mr Nicholas Cross
Dr Satnam Surae
Company Number
10170711 (England and Wales)
Registered Office
20-22 Wenlock Road
London
N1 7GU
England
Accountants
striveX Ltd
36 Furrow Way
Maidenhead
Berkshire
SL6 3NY
AigenPulse Limited
Statement of financial position
as at 31 March 2019
Intangible assets
1,086
1,212
Tangible assets
29,450
30,505
Cash at bank and in hand
122,130
189,958
Creditors: amounts falling due within one year
(135,261)
(57,414)
Net current assets
808,458
270,935
Total assets less current liabilities
838,994
302,652
Provisions for liabilities
Net assets
838,994
296,856
Called up share capital
239
348
Capital redemption reserve
109
-
Capital contribution reserve
1,340,000
-
Profit and loss account
(501,354)
296,508
Shareholders' funds
838,994
296,856
For the year ending 31 March 2019 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 5 April 2019.
Dr Tobias Heinz Kloepper
Director
Company Registration No. 10170711
AigenPulse Limited
Notes to the Accounts
for the year ended 31 March 2019
AigenPulse Limited is a private company, limited by shares, registered in England and Wales, registration number 10170711. The registered office is 20-22 Wenlock Road, London, N1 7GU, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention except as disclosed in the accounting policies certain items are shown at fair value.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Where the company has incurred a tax loss that is expected to cover any taxable profits in the near future deferred tax shall not be recognised.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Patents and Trademarks - 10% straight line basis
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
50% straight line basis
Computer equipment
50% straight line basis
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
AigenPulse Limited
Notes to the Accounts
for the year ended 31 March 2019
Expenditure on research and development is written off in the year in which it is incurred.
Basic financial instruments are recognised at amortised cost. Where the company received amounts as part of an Advanced Subscription Agreement these items are recognised as Equity.
4
Intangible fixed assets
Other
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2018
478
41,990
42,468
Additions
871
33,967
34,838
Disposals
-
(5,415)
(5,415)
At 31 March 2019
1,349
70,542
71,891
At 1 April 2018
94
11,869
11,963
Charge for the year
553
31,956
32,509
On disposals
-
(2,031)
(2,031)
At 31 March 2019
647
41,794
42,441
At 31 March 2019
702
28,748
29,450
At 31 March 2018
384
30,121
30,505
Trade debtors
454,080
115,985
Accrued income and prepayments
2,270
13,036
Other debtors
365,239
9,370
AigenPulse Limited
Notes to the Accounts
for the year ended 31 March 2019
7
Creditors: amounts falling due within one year
2019
2018
Taxes and social security
102,229
39,609
Loans from directors
(1,448)
14,730
8
Deferred taxation
2019
2018
Accelerated capital allowances
-
5,796
Provision at start of year
5,796
-
(Credited)/charged to the profit and loss account
(5,796)
5,796
Provision at end of year
-
5,796
Deferred tax has not been provided for.
Allotted, called up and fully paid:
2,392,000 Ordinary shares of £0.0001 each
239.20
239.20
- Deferred shares of £0.0001 each
-
108.80
10
Capital contribution reserve
During the year the company received £1,340,000 in cash as part of an Advanced Subscription Agreement.
11
Operating lease commitments
2019
2018
At 31 March 2019 the company has commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within one year
81,000
42,300
Within two to five years
162,000
-
AigenPulse Limited
Notes to the Accounts
for the year ended 31 March 2019
12
Transactions with related parties
Amounts received from companies under common control during the year totalled £58,980 (2018 - £166,200) and amounts paid totalled £35,707 (2018 - £nil).
Amounts owed (from)/to Dr Tobias Kloepper at the year end were (£1,449), 2018 - £14,870.
13
Average number of employees
During the year the average number of employees was 20 (2018: 8).