Roylance Stability Storage Limited - Accounts to registrar (filleted) - small 22.3

ROYLANCE STABILITY STORAGE LIMITED - Company Information

IRIS Accounts Productionv22.3.3.48SC557657Board of Directors1.11.2031.12.2131.12.2121.12.2022falsetruefalsefalsetruefalseAuditors OpinionOrdinary A0.10000Ordinary B00.10000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC5576572020-10-31SC5576572021-12-31SC5576572020-11-012021-12-31SC5576572019-10-31SC5576572019-11-012020-10-31SC5576572020-10-31SC557657ns16:Scotland2020-11-012021-12-31SC557657ns15:PoundSterling2020-11-012021-12-31SC557657ns11:Director12020-11-012021-12-31SC557657ns11:PrivateLimitedCompanyLtd2020-11-012021-12-31SC557657ns11:SmallEntities2020-11-012021-12-31SC557657ns11:Audited2020-11-012021-12-31SC557657ns11:SmallCompaniesRegimeForDirectorsReport2020-11-012021-12-31SC557657ns11:SmallCompaniesRegimeForAccounts2020-11-012021-12-31SC557657ns11:FullAccounts2020-11-012021-12-31SC557657ns11:OrdinaryShareClass12020-11-012021-12-31SC557657ns11:OrdinaryShareClass22020-11-012021-12-31SC55765711ns11:OrdinaryShareClass12020-11-012021-12-31SC557657ns11:Director52020-11-012021-12-31SC557657ns11:Director62020-11-012021-12-31SC557657ns11:RegisteredOffice2020-11-012021-12-31SC557657ns6:CurrentFinancialInstruments2021-12-31SC557657ns6:CurrentFinancialInstruments2020-10-31SC557657ns6:Non-currentFinancialInstruments2021-12-31SC557657ns6:Non-currentFinancialInstruments2020-10-31SC557657ns6:ShareCapital2021-12-31SC557657ns6:ShareCapital2020-10-31SC557657ns6:SharePremium2021-12-31SC557657ns6:SharePremium2020-10-31SC557657ns6:RetainedEarningsAccumulatedLosses2021-12-31SC557657ns6:RetainedEarningsAccumulatedLosses2020-10-31SC557657ns6:PlantMachinery2020-11-012021-12-31SC557657ns6:ComputerEquipment2020-11-012021-12-31SC557657ns6:PlantMachinery2020-10-31SC557657ns6:ComputerEquipment2020-10-31SC557657ns6:PlantMachinery2021-12-31SC557657ns6:ComputerEquipment2021-12-31SC557657ns6:PlantMachinery2020-10-31SC557657ns6:ComputerEquipment2020-10-31SC557657ns6:AdditionsToInvestments2021-12-31SC557657ns6:CostValuation2021-12-31SC557657ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-31SC557657ns6:WithinOneYearns6:CurrentFinancialInstruments2020-10-31SC557657ns6:AfterOneYearns6:Non-currentFinancialInstruments2021-12-31SC557657ns6:AfterOneYearns6:Non-currentFinancialInstruments2020-10-31SC557657ns6:Non-currentFinancialInstruments2020-11-012021-12-31SC557657ns6:WithinOneYear2021-12-31SC557657ns6:WithinOneYear2020-10-31SC557657ns6:BetweenOneFiveYears2021-12-31SC557657ns6:BetweenOneFiveYears2020-10-31SC557657ns6:AllPeriods2021-12-31SC557657ns6:AllPeriods2020-10-31SC557657ns6:Secured2021-12-31SC557657ns6:Secured2020-10-31SC557657ns11:OrdinaryShareClass12021-12-31SC557657ns11:OrdinaryShareClass22021-12-31

REGISTERED NUMBER: SC557657 (Scotland)

Financial Statements

for the Period 1 November 2020 to 31 December 2021

for

Roylance Stability Storage Limited

Trading as

Sampled

Page

Company Information

Balance Sheet

Notes to the Financial Statements

DIRECTORS:

B J Roylance

A Bhalla

R D Grimwood

REGISTERED OFFICE:

Third Floor, Centenery House

69 Wellington Street

Glasgow

G2 6HG

REGISTERED NUMBER:

SC557657 (Scotland)

AUDITORS:

Bracey's Accountants (Audit) Limited

Unit 1 The Cam Centre

Wilbury Way

Hitchin

Herts

FIXED ASSETS

Tangible assets

520,287

129,196

Investments

750

521,037

129,196

CURRENT ASSETS

Debtors

509,629

74,997

Cash at bank

411,699

83,681

921,328

158,678

CREDITORS

Amounts falling due within one year

720,458

573,353

NET CURRENT ASSETS/(LIABILITIES)

200,870

(414,675

)

TOTAL ASSETS LESS CURRENT

LIABILITIES

721,907

(285,479

)

CREDITORS

Amounts falling due after more than one year

(77,629

)

PROVISIONS FOR LIABILITIES

(106,505

)

NET ASSETS/(LIABILITIES)

615,402

(363,108

)

CAPITAL AND RESERVES

Called up share capital

2,055

1,199

Share premium

289,295

99,401

Retained earnings

324,052

(463,708

)

SHAREHOLDERS' FUNDS

615,402

(363,108

)

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 21 December 2022 and were signed on its behalf by:

B J Roylance - Director

1.	STATUTORY INFORMATION

Roylance Stability Storage Limited is a private company, limited by shares, registered in Scotland. The company's registered number is SC557657 and the registered office address is Third Floor, Centenary House, 69 Wellington Street, Glasgow, Scotland, G2 6HG.

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.

Going concern

Towards the end of the financial period and into the new financial year the company undertook significant investment and restructuring of it's U.K. operations. The working capital support of the ultimate parent company, Infinity Biologix LLC, is required during this time. This support has been pledged by the ultimate parent company and it is on that basis that the directors have prepared the accounts on a going concern basis.

The functional currency is GBP (£), and amounts are rounded to the nearest £1.

Long period

The period end date of these financial statements has been extended from 31 October to 31 December to align with its group period end. the comparatives are not therefore entirely comparable.

Group accounts

This company is part of a small group and has therefore applied the exemption to not prepare group accounts. These financial statements are single entity accounts, however the company is part of a large overseas group, see Note 16.

Turnover

Turnover represents amounts chargeable to clients for services provided during the year excluding VAT. Revenue is recognised when the company obtains the right to receive consideration for services provided.

Customer contracts usually span long periods. Amounts are invoiced monthly on the contract and specific usage for the month, such that there is no deferred or accrued income within turnover.

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

33.33% on cost

Computer equipment

33.33% on cost

Government grants

During the period under review, the company received government grants totalling £729 in relation to interest paid on a business bounce back loan.

This grant was recognised under the accruals method.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the period 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 period 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.

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.

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.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at transaction price.

3.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company's accounting policies, which are described in Note 2, 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 differe 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 revision and future periods if the revision affects both current and future periods.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 9 (2020 - 5 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

COST

At 1 November 2020

313,007

5,692

318,699

Additions

528,562

17,073

545,635

At 31 December 2021

841,569

22,765

864,334

DEPRECIATION

At 1 November 2020

185,915

3,588

189,503

Charge for period

148,647

5,897

154,544

At 31 December 2021

334,562

9,485

344,047

NET BOOK VALUE

At 31 December 2021

507,007

13,280

520,287

At 31 October 2020

127,092

2,104

129,196

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

COST

Additions

750

At 31 December 2021

750

NET BOOK VALUE

At 31 December 2021

750

During the year the company purchased it's connected company, Roylance Stability Storage Limited to become it's wholly owned subsidiary.

DEBTORS

31.12.21

31.10.20

Amounts falling due within one year:

Trade debtors

407,100

61,779

Other debtors

71,703

13,218

478,803

74,997

31.12.21

31.10.20

Amounts falling due after more than one year:

Other debtors

30,826

Aggregate amounts

509,629

74,997

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.10.20

Bank loans and overdrafts

28,000

Trade creditors

67,521

371,046

Taxation and social security

70,873

3,935

Other creditors

582,064

170,372

720,458

573,353

Included in Other Creditors are amounts owed within the group of £564,393, as detailed in Note 15.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR

31.12.21

31.10.20

Bank loans

77,629

All loans, including the bounceback loan, were repaid in full during the year.

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.21

31.10.20

Within one year

87,528

98,235

Between one and five years

6,512

87,528

104,747

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.21

31.10.20

Bank loans

105,629

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.21

31.10.20

value:

20,545

Ordinary A

0.10

2,055

889

3,103

Ordinary B

0.10

310

2,055

1,199

1,058 Ordinary A shares of 0.10 each were allotted as fully paid at a premium of 179.484121 per share during the period, the share premium account increased by £189,894 during the period as a result. During the period Ordinary B shares were reclassified as Ordinary A shares, resulting in one class of share in issue at the period end.

13.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Emma Fraser FCA (Senior Statutory Auditor)

for and on behalf of Bracey's Accountant's (Audit) Limited

The audit report prepared is in connection with the audit of the full annual accounts and Directors' report and that Directors' report has not been filed.

The name of the Senior Statutory Auditor who signed the audit report on 21 December 2022 was Emma Fraser FCA, who signed on behalf of Bracey's Accountants (Audit) Limited.

14.	CAPITAL COMMITMENTS

31.12.21

31.10.20

Contracted but not provided for in the

financial statements

126,300

15.	RELATED PARTY DISCLOSURES

The company entered into transactions with group companies during the year. The transactions were all undertaken at market rate and therefore do not require separate disclosure under FRS 102 Section 10.

At the period end the following amounts were owed to fellow group companies:

Roylance Scientific Limited - £164,393 (2020 - £157,929).

During the period the company loaned £400,000 from its parent company. This amount was still outstanding at the period end (see note 8).

There is no interest charged on balances that arise through normal trading conditions. Interest is charged on loan balances arising.

16.	PARENT AND ULTIMATE CONTROLLING PARTY

The ultimate parent company and ultimate controlling party is Infinity Biologix LLC. This is the smallest group in which the results of the company are consolidated. The financial statements can be obtained from 604 Allison Road, Piscataway, NJ 08854, United States of America.