These condensed consolidated interim financial statements have been prepared in
accordance with IAS 34 Interim Financial Reporting as endorsed and adopted for
use in the European Union. They do not include all of the information required
for full annual financial statements and should be read in conjunction with the
consolidated financial statements of the Group for the year ended 31 December
2012, which have been prepared in accordance with IFRS adopted by the European
These condensed consolidated interim financial statements have been prepared on
the basis of accounting policies consistent with those applied in the
preparation of the Group's published consolidated financial statements for the
year ended 31 December 2012 except as noted below.
The Group has adopted improvements to various standards within the
`Improvements to IFRS' programme, none of which have had a significant effect
on the reported results or financial position of the Group.
The condensed consolidated interim financial statements for the six months
ended 30 June 2013 have neither been audited nor reviewed by the Group's
auditor in accordance with International Standard on Review Engagements 2410
issued by the Auditing Practices Board.
The comparative figures for the financial year ended 31 December 2012 are not
the Group's statutory consolidated accounts for that financial year but
represent an extract from those accounts. Statutory accounts for the year ended
31 December 2012 were approved by the Board on 25 April 2013 and delivered to
the Registrar of Companies. The report of the auditor on those financial
statements was (i) unqualified, (ii) did not include reference to any matters
to which the auditor drew attention by way of emphasis without qualifying their
report and (iii) did not contain a statement under section 498 (2) or (3) of
the Companies Act 2006. The consolidated financial statements of the Group as
at and for the year ended 31 December 2012 are available on request from the
Group's registered office at 1 Orchard Place, Nottingham Business Park,
Nottingham NG8 6PX or at www.sourcebioscience.com.
The condensed consolidated interim financial statements are presented in pounds
sterling, rounded to the nearest thousand pounds. They are prepared on the
historical cost basis except for the valuation to fair value of certain assets
The preparation of the condensed consolidated interim financial statements
requires management to make judgements, estimates and assumptions that affect
the application of accounting policies and the reported amounts of assets and
liabilities, income and expense. Actual results may differ from these
In preparing these condensed consolidated interim financial statements, the
significant judgements made by management in applying the Group's accounting
policies and the key source of estimation uncertainty were the same as those
applied to the consolidated financial statements as at and for the year ended
31 December 2012.
There have been no related party transactions or changes in related party
transactions described in the latest annual report that could have a material
effect on the financial position or performance of the Group in the first six
months of this financial year.