Biotherapy Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08566712 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2022

for

Biotherapy Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J M Hadfield

Mr J A Rickard

Mr K Golchin

Mr J Chiplin

Mr N J Mettyear

Mr R H Morton

SECRETARY:

Kin Company Secretarial Limited

REGISTERED OFFICE:

Hyde Park House

5 Manfred Road

London

SW15 2RS

REGISTERED NUMBER:

08566712 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chartered Accountants

5a Frascati Way

Maidenhead

Berkshire

SL6 4UY

FIXED ASSETS

Intangible assets

4

14,905

23,061

Tangible assets

5

17,295

17,866

32,200

40,927

CURRENT ASSETS

Stocks

43,066

38,498

Debtors

6

439,014

395,551

Cash at bank

583,553

187,782

1,065,633

621,831

CREDITORS

Amounts falling due within one year

7

(233,497

)

(318,432

)

NET CURRENT ASSETS

832,136

303,399

TOTAL ASSETS LESS CURRENT LIABILITIES

864,336

344,326

CREDITORS

Amounts falling due after more than one year

8

(1,091,342

)

(1,019,342

)

NET LIABILITIES

(227,006

)

(675,016

)

CAPITAL AND RESERVES

Called up share capital

23,682

19,492

Share premium

4,521,046

3,025,232

Retained earnings

(4,771,734

)

(3,719,740

)

(227,006

)

(675,016

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 30 August 2022 and were signed on its behalf by:

Mrs J M Hadfield - Director

Mr J A Rickard - Director

1.	STATUTORY INFORMATION

Biotherapy Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors have considered the company's cashflows for the next 12 months. The directors remain confident about the company's future and are committed to its continued support. The directors consider the company retains sufficient working capital to continue trading for the foreseeable future.

Accordingly, the directors have confirmed that it is appropriate to adopt the going concern basis for the preparation of these financial statements.

Significant judgements and estimates

In the application of the company's accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The company does not make significant estimates and assumptions concerning the future.

Turnover

Turnover is recognised on provision of services and goods sold at the fair value of the consideration received or receivable for services and goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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.

Patents and licences are being amortised evenly over their estimated useful life of eleven years.

Computer software is being amortised evenly over its 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

33% on reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with changes recognised in profit and loss.

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.

Research and development

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2021 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 July 2021

and 30 June 2022

87,480

AMORTISATION

At 1 July 2021

64,419

Charge for year

8,156

At 30 June 2022

72,575

NET BOOK VALUE

At 30 June 2022

14,905

At 30 June 2021

23,061

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2021

52,683

Additions

7,226

Disposals

(2,317

)

At 30 June 2022

57,592

DEPRECIATION

At 1 July 2021

34,817

Charge for year

6,952

Eliminated on disposal

(1,472

)

At 30 June 2022

40,297

NET BOOK VALUE

At 30 June 2022

17,295

At 30 June 2021

17,866

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 July 2021

13,500

Transfer to ownership

(13,500

)

At 30 June 2022

-

DEPRECIATION

At 1 July 2021

7,970

Charge for year

1,105

Transfer to ownership

(9,075

)

At 30 June 2022

-

NET BOOK VALUE

At 30 June 2022

-

At 30 June 2021

5,530

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.22

30.6.21

£

£

Trade debtors

31,921

25,472

Other debtors

407,093

370,079

439,014

395,551

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.22

30.6.21

£

£

Hire purchase contracts (see note 9)

-

2,048

Trade creditors

61,617

116,160

Taxation and social security

16,662

19,697

Other creditors

155,218

180,527

233,497

318,432

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.22

30.6.21

£

£

Other creditors

1,091,342

1,019,342

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

30.6.22

30.6.21

£

£

Net obligations repayable:

Within one year

-

2,048

Non-cancellable

operating leases

30.6.22

30.6.21

£

£

Within one year

-

49,345

10.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.22

30.6.21

£

£

Hire purchase contracts

-

2,048

11.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.