Contents of the Financial Statements

for the Period Ended 31 March 2022

Directors report
Balance sheet
Additional notes
Balance sheet notes

Directors' report period ended 31 March 2022

The directors present their report with the financial statements of the company for the period ended 31 March 2022

Directors

The directors shown below have held office during the whole of the period from
1 April 2021 to 31 March 2022

Susan Ashby
Keval Patel
Nigel Smith
John Von Bargen
Ed Zhang
Michael Koichopolos

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
13 April 2023

And signed on behalf of the board by:
Name: Nigel Smith
Status: Director

Balance sheet

As at 31 March 2022

	Notes	2022	2021
		£	£
Called up share capital not paid:		0	0
Fixed assets
Intangible assets:	3	356,618	226,786
Tangible assets:	4	1,248,121	1,034,490
Investments:		0	0
Total fixed assets:		1,604,739	1,261,276
Current assets
Stocks:	5	1,111,286	780,203
Debtors:	6	2,936,703	3,422,494
Cash at bank and in hand:		185,392	232,178
Investments:		0	0
Total current assets:		4,233,381	4,434,875
Prepayments and accrued income:		0	0
Creditors: amounts falling due within one year:	7	( 1,734,352 )	( 1,816,483 )
Net current assets (liabilities):		2,499,029	2,618,392
Total assets less current liabilities:		4,103,768	3,879,668
Creditors: amounts falling due after more than one year:		0	0
Provision for liabilities:		0	0
Accruals and deferred income:		0	0
Total net assets (liabilities):		4,103,768	3,879,668
Capital and reserves
Called up share capital:		1,467,591	1,467,591
Share premium account:		150,000	150,000
Other reserves:		0	0
Profit and loss account:		2,486,177	2,262,077
Total Shareholders' funds:		4,103,768	3,879,668

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 March 2022 the company was entitled to exemption 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 directors have chosen not to file a copy of the company's profit and loss account.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 March 2022

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  The turnover in the income statement represents amounts receivable during the financial year, exclusive of VAT. Turnover is recognised at the date of production plus 1 working day which is the agreed point at which risks and rewards transfer to the parent under the manufacturing agreement.

  Tangible fixed assets depreciation policy

  Tangible fixed assets are stated at historic purchase cost less accumulated depreciation and accumulated impairment losses. When brought into service, tangible fixed assets are depreciated on a straight-line basis over their estimated economic life or the life of the lease, whichever is shorter.

  Intangible fixed assets amortisation policy

  Intangible assets are stated at cost and are currently still under development, therefore no amortisation costs have been incurred,

  Other accounting policies

  Basis of accountingGoing ConcernForeign CurrencyEmployee BenefitsTaxationAssets Under ConstructionLeased AssetsImpairment of non-financial assetsStock and work in progressCash and cash equivalentsFinancial InstrumentsCritical accounting judgments and key source of estimation uncertainty

Notes to the Financial Statements

for the Period Ended 31 March 2022

• 2. Employees

  	2022	2021
  Average number of employees during the period	47	48