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REGISTERED NUMBER: 03912465 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

ACCELERIS LIMITED

ACCELERIS LIMITED (REGISTERED NUMBER: 03912465)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2016




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


ACCELERIS LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2016







DIRECTORS: N Molyneux
I W Currie



SECRETARY: S W Thorn



REGISTERED OFFICE: 12 The Parks
Haydock
Newton-le-Willows
WA12 0JQ



REGISTERED NUMBER: 03912465 (England and Wales)



ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB



BANKERS: The Royal Bank of Scotland
2 High Street
Standish
Wigan
WN6 0HL
Page 1
ACCELERIS LIMITED (REGISTERED NUMBER: 03912465)

STATEMENT OF FINANCIAL POSITION
31 December 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 520,596 42,325
520,596 42,325

CURRENT ASSETS
Debtors 6 13,438 61,973
Cash at bank 20,284 18,859
33,722 80,832
CREDITORS
Amounts falling due within one year 7 20,671 30,973
NET CURRENT ASSETS 13,051 49,859
TOTAL ASSETS LESS CURRENT
LIABILITIES
533,647
92,184

CAPITAL AND RESERVES
Called up share capital 53,298 53,298
Share premium 4,950 4,950
Retained earnings 475,399 33,936
SHAREHOLDERS' FUNDS 533,647 92,184

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 18 September 2017 and were signed on its behalf
by:



N Molyneux - Director


The notes form part of these financial statements

Page 2
ACCELERIS LIMITED (REGISTERED NUMBER: 03912465)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2016

1. STATUTORY INFORMATION

Acceleris 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 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration receivable for services provided, excluding value
added tax.

Any warrants issued as part of the fund raising projects are not valued or included in turnover.

Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in
order to write off the cost less estimated residual value of each asset over it's estimated useful life.

Fixtures and fittings-20% on reducing balance
Computer equipment-33% 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 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Fixed asset investments
Fixed asset investments are included at fair value or cost less impairment where the fair value cannot be
measured reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2015 - 2 ) .

Page 3 continued...
ACCELERIS LIMITED (REGISTERED NUMBER: 03912465)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2016

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2016
and 31 December 2016 15,192 5,707 20,899
DEPRECIATION
At 1 January 2016
and 31 December 2016 15,192 5,707 20,899
NET BOOK VALUE
At 31 December 2016 - - -
At 31 December 2015 - - -

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 January 2016 147,036
Revaluations 478,271
At 31 December 2016 625,307
PROVISIONS
At 1 January 2016
and 31 December 2016 104,711
NET BOOK VALUE
At 31 December 2016 520,596
At 31 December 2015 42,325

Cost or valuation at 31 December 2016 is represented by:

Other
investments
£   
Valuation in 2016 478,271
Cost 147,036
625,307

Redx Pharma Plc is listed on the Alternative Investment Market of the London Stock Exchange. This has
resulted in a public market share price that can be used to value Acceleris's shareholding. The gain associated
with the increase in value of investment of £478,271 has been recognised in these accounts.

Warrants form an integral part of the company's fee structure on fund raising projects. The directors have valued
the exercise price of it's warrants using currently available financial information in the region of £nil (2015 -
£nil).

Page 4 continued...
ACCELERIS LIMITED (REGISTERED NUMBER: 03912465)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2016

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Other debtors - 51,769
Prepayments and accrued income 13,438 10,204
13,438 61,973

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade creditors 5,171 16,472
Tax - 6,000
Accrued expenses 15,500 8,501
20,671 30,973

8. POST BALANCE SHEET EVENTS

Following the year end, one of the company's listed investments, Redx Pharma Plc, was placed into
Administration, with share trading suspended. The Administrators have realised certain of that company's assets
and indicated that the company would be handed back to the directors as quickly as possible. The carrying value
of the investment at the time of the Administration was £482,540 and it is not considered appropriate to adjust
the figure stated in investments, which are held at fair value at the balance sheet date.

9. FIRST YEAR ADOPTION

This is the first year in which the financial statements have been prepared under FRS 102 Section 1A.
There is a measurement difference between the previous UK GAAP and FRS 102 Section 1A in relation to the
fixed asset investment valuation method. The fixed asset investment in certain shares have now been accounted
for at fair value and the impact on profit for the year is £478,271. Previously the shares were accounted for at
cost less impairment.


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