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Registered number: 09514155
3d Lifeprints UK Ltd
Financial Statements
For The Year Ended 31 March 2022
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09514155
2022 2021
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 3 42,282 22,068
Tangible Assets 4 18,047 26,888
60,329 48,956
CURRENT ASSETS
Debtors 5 299,491 103,922
Cash at bank and in hand 372,508 832,555
671,999 936,477
Creditors: Amounts Falling Due Within One Year 6 (35,807 ) (61,907 )
NET CURRENT ASSETS (LIABILITIES) 636,192 874,570
TOTAL ASSETS LESS CURRENT LIABILITIES 696,521 923,526
Creditors: Amounts Falling Due After More Than One Year 7 (2,037 ) (3,037 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (11,462 ) -
NET ASSETS 683,022 920,489
CAPITAL AND RESERVES
Called up share capital 8 5,420 5,420
Share premium account 1,877,460 1,877,460
Profit and Loss Account (1,199,858 ) (962,391 )
SHAREHOLDERS' FUNDS 683,022 920,489
Page 1
Page 2
For the year ending 31 March 2022 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Henry Pinchbeck
Director
09/05/2022
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets consist of intellectual property and a digital platform. Other intangible assets are amortised to profit and loss account over the estimated economic life of 33 years.
1.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 3 - 4 years straight line
1.5. Foreign Currencies
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 rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
1.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
1.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
Page 3
Page 4
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2022 2021
Office and administration 11 10
11 10
3. Intangible Assets
Other
£
Cost
As at 1 April 2021 22,373
Additions 21,217
As at 31 March 2022 43,590
Amortisation
As at 1 April 2021 305
Provided during the period 1,003
As at 31 March 2022 1,308
Net Book Value
As at 31 March 2022 42,282
As at 1 April 2021 22,068
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2021 125,719
Additions 9,199
As at 31 March 2022 134,918
Depreciation
As at 1 April 2021 98,831
Provided during the period 18,040
As at 31 March 2022 116,871
Net Book Value
As at 31 March 2022 18,047
As at 1 April 2021 26,888
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5. Debtors
2022 2021
£ £
Due within one year
Trade debtors 61,691 75,459
Prepayments and accrued income 21,983 27,713
Other debtors - 750
Corporation tax recoverable assets 144,773 -
Other taxes and social security 1,593 -
230,040 103,922
Due after more than one year
Amounts owed by other participating interests 69,451 -
69,451 -
299,491 103,922
6. Creditors: Amounts Falling Due Within One Year
2022 2021
£ £
Trade creditors - 29,667
Bank loans and overdrafts 794 4,000
Corporation tax - (6,530 )
VAT 7,118 14,646
Other creditors 896 7,705
Accruals and deferred income 13,200 -
Directors' loan accounts 13,799 12,419
35,807 61,907
7. Creditors: Amounts Falling Due After More Than One Year
2022 2021
£ £
Bank loans - 1,000
Loans 2,037 2,037
2,037 3,037
8. Share Capital
2022 2021
Allotted, Called up and fully paid 5,420 5,420
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9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
Land and buildings
2022 2021
£ £
Within 1 year 4,885 -
Between 1 and 5 years 9,770 -
14,655 -
10. Controlling Party
In the opinion of the directors, there is no controlling party.
11. General Information
3d Lifeprints UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09514155 . The registered office is The Innovation Hub Alder Hey Children's, Nhs Foundation Trust, Eaton Road, West Derby, Liverpool, Merseyside, L12 2AP.
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