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REGISTERED NUMBER: 05823408 (England and Wales)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 December 2016

for

Connexin Limited

Connexin Limited (Registered number: 05823408)

Contents of the Financial Statements
for the year ended 31 December 2016










Page

Company Information 1

Report of the Directors 2

Balance Sheet 3

Notes to the Financial Statements 5

Chartered Accountants' Report 9

Connexin Limited

Company Information
for the year ended 31 December 2016







DIRECTORS: Dr F Alamgir
Professor E R Candy
W J A Priest
K Y Yeung





REGISTERED OFFICE: 9th Floor
107 Cheapside
London
EC2V 6DN





REGISTERED NUMBER: 05823408 (England and Wales)





ACCOUNTANTS: Marshall & Co
Chartered Accountants
& Chartered Tax Advisers
Faraday House
Wolfreton Drive
Anlaby
Kingston upon Hull
East Yorkshire
HU10 7BY

Connexin Limited (Registered number: 05823408)

Report of the Directors
for the year ended 31 December 2016


The directors present their report with the financial statements of the company for the year ended 31 December 2016.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2016 to the date of this
report.

Dr F Alamgir
Professor E R Candy
W J A Priest
K Y Yeung

Other changes in directors holding office are as follows:

T Reed - resigned 29 February 2016

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with
applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors
have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting
Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not
approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the
company and of the profit or loss of the company for that period. In preparing these financial statements, the directors
are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the
company's transactions and disclose with reasonable accuracy at any time the financial position of the company and
enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for
safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud
and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small
companies.

ON BEHALF OF THE BOARD:





Dr F Alamgir - Director


29 September 2017

Connexin Limited (Registered number: 05823408)

Balance Sheet
31 December 2016

2016 2015
Notes £    £    £    £   
ASSETS

FIXED ASSETS
Intangible assets 4 61,770 20,223
Tangible assets 5 288,314 234,546
350,084 254,769

CURRENT ASSETS
Stocks 49,416 48,927
Debtors 6 126,803 74,096
Cash at bank and in hand 757 92,898
176,976 215,921
527,060 470,690

CAPITAL, RESERVES AND LIABILITIES

CAPITAL AND RESERVES
Called up share capital 29,708 29,708
Share premium 284,838 284,838
Retained earnings (247,674 ) (112,066 )
SHAREHOLDERS' FUNDS 66,872 202,480

CREDITORS 7 460,188 268,210
527,060 470,690

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.

Connexin Limited (Registered number: 05823408)

Balance Sheet - continued
31 December 2016


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 29 September 2017 and were signed on its behalf
by:





Dr F Alamgir - Director


Connexin Limited (Registered number: 05823408)

Notes to the Financial Statements
for the year ended 31 December 2016


1. STATUTORY INFORMATION

Connexin 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

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 - 25% on reducing balance, 25% on cost, 20% on cost and 15% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving items.

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 or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
balance sheet 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.

Connexin Limited (Registered number: 05823408)

Notes to the Financial Statements - continued
for the year ended 31 December 2016


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and
depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance
charges, are included in creditors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2016 21,400
Additions 48,822
At 31 December 2016 70,222
AMORTISATION
At 1 January 2016 1,177
Charge for year 7,275
At 31 December 2016 8,452
NET BOOK VALUE
At 31 December 2016 61,770
At 31 December 2015 20,223

Connexin Limited (Registered number: 05823408)

Notes to the Financial Statements - continued
for the year ended 31 December 2016


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2016 186,686 35,115 28,538 94,555 344,894
Additions 76,663 43,326 8,333 6,080 134,402
At 31 December 2016 263,349 78,441 36,871 100,635 479,296
DEPRECIATION
At 1 January 2016 56,983 5,335 12,284 35,746 110,348
Charge for year 53,554 5,580 5,358 16,142 80,634
At 31 December 2016 110,537 10,915 17,642 51,888 190,982
NET BOOK VALUE
At 31 December 2016 152,812 67,526 19,229 48,747 288,314
At 31 December 2015 129,703 29,780 16,254 58,809 234,546

Assets held under finance leases and hire purchase included in the above have a net book value of £85,890
(2015 £61,329)

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade debtors 8,698 17,219
Other debtors 118,105 56,877
126,803 74,096

7. CREDITORS
2016 2015
£    £   
Amounts falling due within one year:
Bank loans and overdrafts 11,157 -
Hire purchase contracts 33,296 31,696
Trade creditors 150,859 109,498
Taxation and social security 34,095 41,475
Other creditors 126,684 27,664
356,091 210,333

Connexin Limited (Registered number: 05823408)

Notes to the Financial Statements - continued
for the year ended 31 December 2016


7. CREDITORS - continued
2016 2015
£    £   
Amounts falling due after more than one year:
Hire purchase contracts 42,596 24,314
Other creditors 61,501 33,563
104,097 57,877

Aggregate amounts 460,188 268,210

8. RELATED PARTY DISCLOSURES

At the year end loans existed from the directors to the company which totalled £59,858 (2015 - £36,617)

9. POST BALANCE SHEET EVENTS

There was an equity raise after the Balance Sheet date which resulted in an increase in shareholders' funds of
£5,000,000.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Dr F Alamgir.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Connexin Limited


The following reproduces the text of the report prepared for the directors and members in respect of the
company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is
only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other
primary statements and the Report of the Directors are not required to be filed with the Registrar of
Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements of Connexin Limited for the year ended 31 December 2016 which comprise the Income Statement,
Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Connexin Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Connexin Limited and state those matters that we have agreed to state to the Board of Directors of Connexin Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Connexin Limited Board of Directors, as a body, for our work or for this report.

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

We have not been instructed to carry out an audit or a review of the financial statements of Connexin 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 financial statements.






Marshall & Co
Chartered Accountants
& Chartered Tax Advisers
Faraday House
Wolfreton Drive
Anlaby
Kingston upon Hull
East Yorkshire
HU10 7BY


29 September 2017