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REGISTERED NUMBER: 05683513 (England and Wales)










Laboratoire Biosthetique UK Limited

Unaudited Financial Statements

for the Year Ended 31 December 2021






Laboratoire Biosthetique UK Limited (Registered number: 05683513)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Laboratoire Biosthetique UK Limited

Company Information
for the Year Ended 31 December 2021







DIRECTORS: D J Rippon
E K Hornigold
S H Weiser





REGISTERED OFFICE: 800 Wellworthy Road
Lymington
Hampshire
SO41 8JY





REGISTERED NUMBER: 05683513 (England and Wales)

Laboratoire Biosthetique UK Limited (Registered number: 05683513)

Balance Sheet
31 December 2021

2021 2020
Notes £    £   
FIXED ASSETS
Intangible assets 5 86,250 103,500
Tangible assets 6 43,894 54,578
130,144 158,078

CURRENT ASSETS
Stocks 7 225,659 214,062
Debtors 8 216,566 201,093
Cash at bank 209,054 187,080
651,279 602,235
CREDITORS
Amounts falling due within one year 9 (347,336 ) (352,995 )
NET CURRENT ASSETS 303,943 249,240
TOTAL ASSETS LESS CURRENT
LIABILITIES

434,087

407,318

CREDITORS
Amounts falling due after more than one year 10 (267,464 ) (281,000 )
NET ASSETS 166,623 126,318

CAPITAL AND RESERVES
Called up share capital 12 10,000 10,000
Retained earnings 156,623 116,318
SHAREHOLDERS' FUNDS 166,623 126,318

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

Laboratoire Biosthetique UK Limited (Registered number: 05683513)

Balance Sheet - continued
31 December 2021


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2022 and were signed on its behalf by:





E K Hornigold - Director


Laboratoire Biosthetique UK Limited (Registered number: 05683513)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Laboratoire Biosthetique UK 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
The principle accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented, unless otherwise stated.

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

GOODWILL
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition Over the company's interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

AMORTISATION
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset classAmortisation method and rate
Good willStraight line over 10 years

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.

TANGIBLE FIXED ASSETS
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Asset classDepreciation method and rate
Fixtures, fittings and equipment20% straight line basis
Computer equipment and furniture33.33% straight line basis
Short leasehold land and building10% straight line basis

Laboratoire Biosthetique UK Limited (Registered number: 05683513)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

3. ACCOUNTING POLICIES - continued

STOCKS
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

FOREIGN CURRENCIES TRANSACTION AND BALANCES
Profit and loss account transactions in foreign currencies are translated into sterling at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the closing rates at the balance sheet date and the exchange differences are included in the profit and loss account.

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.

Laboratoire Biosthetique UK Limited (Registered number: 05683513)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

3. ACCOUNTING POLICIES - continued

GOING CONCERN
The financial statements are prepared on a going concern basis.

REVENUE RECOGNITION
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net Of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognizes revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount Of cash and are subject to an insignificant risk of change in value.

TRADE DEBTORS
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

TRADE CREDITORS
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

BORROWINGS
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortized cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings ate classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

SHARE CAPITAL
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Laboratoire Biosthetique UK Limited (Registered number: 05683513)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2021
and 31 December 2021 350,000
AMORTISATION
At 1 January 2021 246,500
Charge for year 17,250
At 31 December 2021 263,750
NET BOOK VALUE
At 31 December 2021 86,250
At 31 December 2020 103,500

6. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 January 2021
and 31 December 2021 74,399 14,458 2,797 91,654
DEPRECIATION
At 1 January 2021 26,038 8,241 2,797 37,076
Charge for year 7,440 3,244 - 10,684
At 31 December 2021 33,478 11,485 2,797 47,760
NET BOOK VALUE
At 31 December 2021 40,921 2,973 - 43,894
At 31 December 2020 48,361 6,217 - 54,578

7. STOCKS
2021 2020
£    £   
Stocks 225,659 214,062

Laboratoire Biosthetique UK Limited (Registered number: 05683513)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 216,031 200,201
Prepayments and accrued income 535 892
216,566 201,093

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts (see note 11) 9,607 -
Trade creditors 90,800 125,511
Amounts owed to group undertakings 154,391 108,982
Corporation tax liability 16,007 14,971
VAT 30,630 50,386
Other creditors 19,567 17,342
Accruals 26,334 35,803
347,336 352,995

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loans (see note 11) 36,464 50,000
Amounts owed to group undertakings 150,000 150,000
Directors' loan accounts 81,000 81,000
267,464 281,000

11. LOANS

An analysis of the maturity of loans is given below:

2021 2020
£    £   
Amounts falling due within one year or on demand:
Bank loans 9,607 -

Amounts falling due between two and five years:
Bank loans - 2-5 years 36,464 50,000

Laboratoire Biosthetique UK Limited (Registered number: 05683513)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

12. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
10,000 Ordinary 1 10,000 10,000

13. OFF-BALANCE SHEET ARRANGEMENTS

Factored debts

Trade debtors include factored debts, which have not been paid to the factoring company. The factoring company has a charge over all factored debts. As at 31 December 2021, Laboratoire Biosthetique UK Limited owed the factoring company £19,567 (2020 : £17,342).

14. RELATED PARTY DISCLOSURES

Summary of transactions with Other related parties

Shareholders

The company has an interest free loan of £81,000 (2020: £81,000) received from joint shareholders, one of whom is also a director of the company. The loan is not secured and does not have fixed repayment terms. It has been included within non-current liabilities.

The company has an interest free loan, of £153,751(2020: £108,839) received from a shareholder. The loan is not secured and does not have fixed repayment terms. It has been included within current liabilities.