Caseware UK (AP4) 2022.0.179 2022.0.179 2022-07-312022-07-31true13The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2021-08-01falseNo description of principal activity13true 01353334 2021-08-01 2022-07-31 01353334 2020-08-01 2021-07-31 01353334 2022-07-31 01353334 2021-07-31 01353334 c:Director1 2021-08-01 2022-07-31 01353334 d:Buildings 2021-08-01 2022-07-31 01353334 d:Buildings 2022-07-31 01353334 d:Buildings 2021-07-31 01353334 d:Buildings d:OwnedOrFreeholdAssets 2021-08-01 2022-07-31 01353334 d:Buildings d:LeasedAssetsHeldAsLessee 2021-08-01 2022-07-31 01353334 d:Buildings d:ShortLeaseholdAssets 2021-08-01 2022-07-31 01353334 d:PlantMachinery 2021-08-01 2022-07-31 01353334 d:PlantMachinery 2022-07-31 01353334 d:PlantMachinery 2021-07-31 01353334 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-08-01 2022-07-31 01353334 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2021-08-01 2022-07-31 01353334 d:MotorVehicles 2021-08-01 2022-07-31 01353334 d:MotorVehicles 2022-07-31 01353334 d:MotorVehicles 2021-07-31 01353334 d:MotorVehicles d:OwnedOrFreeholdAssets 2021-08-01 2022-07-31 01353334 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2021-08-01 2022-07-31 01353334 d:OfficeEquipment 2021-08-01 2022-07-31 01353334 d:OwnedOrFreeholdAssets 2021-08-01 2022-07-31 01353334 d:LeasedAssetsHeldAsLessee 2021-08-01 2022-07-31 01353334 d:PatentsTrademarksLicencesConcessionsSimilar 2021-08-01 2022-07-31 01353334 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2021-08-01 2022-07-31 01353334 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-07-31 01353334 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2021-07-31 01353334 d:OtherResidualIntangibleAssets 2021-08-01 2022-07-31 01353334 d:CurrentFinancialInstruments 2022-07-31 01353334 d:CurrentFinancialInstruments 2021-07-31 01353334 d:CurrentFinancialInstruments 1 2022-07-31 01353334 d:CurrentFinancialInstruments 1 2021-07-31 01353334 d:Non-currentFinancialInstruments 2022-07-31 01353334 d:Non-currentFinancialInstruments 2021-07-31 01353334 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 01353334 d:CurrentFinancialInstruments d:WithinOneYear 2021-07-31 01353334 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-31 01353334 d:Non-currentFinancialInstruments d:AfterOneYear 2021-07-31 01353334 d:ShareCapital 2022-07-31 01353334 d:ShareCapital 2021-07-31 01353334 d:RetainedEarningsAccumulatedLosses 2022-07-31 01353334 d:RetainedEarningsAccumulatedLosses 2021-07-31 01353334 c:FRS102 2021-08-01 2022-07-31 01353334 c:AuditExempt-NoAccountantsReport 2021-08-01 2022-07-31 01353334 c:FullAccounts 2021-08-01 2022-07-31 01353334 c:PrivateLimitedCompanyLtd 2021-08-01 2022-07-31 01353334 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-07-31 01353334 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2021-07-31 01353334 d:LeasedAssetsHeldAsLessee 2022-07-31 01353334 d:LeasedAssetsHeldAsLessee 2021-07-31 01353334 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2021-08-01 2022-07-31 01353334 d:EntityControlledByKeyManagementPersonnel5 d:OtherTransactionType1 2021-08-01 2022-07-31 01353334 d:EntityControlledByKeyManagementPersonnel5 2021-08-01 2022-07-31 01353334 d:EntityControlledByKeyManagementPersonnel4 2021-08-01 2022-07-31 01353334 d:EntityControlledByKeyManagementPersonnel5 d:OtherTransactionType1 2022-07-31 01353334 d:EntityControlledByKeyManagementPersonnel5 d:OtherTransactionType1 2021-08-01 iso4217:GBP xbrli:pure

Registered number: 01353334










SELBORNE BIOLOGICAL SERVICES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2022

 
SELBORNE BIOLOGICAL SERVICES LIMITED
REGISTERED NUMBER: 01353334

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2022

2022
2021
Note
£
£

Fixed assets
  

Intangible assets
 4 
22,110
27,638

Tangible assets
 5 
73,692
62,963

  
95,802
90,601

Current assets
  

Stocks
  
188,990
227,513

Debtors: amounts falling due within one year
 6 
673,940
699,085

Cash at bank and in hand
  
3,288
5,742

  
866,218
932,340

Creditors: amounts falling due within one year
 7 
(906,423)
(760,072)

Net current (liabilities)/assets
  
 
 
(40,205)
 
 
172,268

Total assets less current liabilities
  
55,597
262,869

Creditors: amounts falling due after more than one year
 8 
(2,160,873)
(2,012,878)

  

Net liabilities
  
(2,105,276)
(1,750,009)


Capital and reserves
  

Called up share capital 
  
1,000,102
1,000,102

Profit and loss account
  
(3,105,378)
(2,750,111)

  
(2,105,276)
(1,750,009)


Page 1

 
SELBORNE BIOLOGICAL SERVICES LIMITED
REGISTERED NUMBER: 01353334
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2022

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




N G Pope
Director

Date: 30 September 2023

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
SELBORNE BIOLOGICAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

1.


General information

Selborne Biological Services Limited, registered number 01353334, is a private company limited by shares. It is incorporated in England and its registered office is Goleigh Farm, Selborne, Alton, Hants, GU34 3SE.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial report has been prepared on a going concern basis which contemplates continuity of normal business activities and the realisation of assets and settlement of liabilities in the ordinary course of business.

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 3

 
SELBORNE BIOLOGICAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Operating leases: the company as lessee

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

 
2.6

Leased assets: the company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Page 4

 
SELBORNE BIOLOGICAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

2.Accounting policies (continued)

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Patents
-
10
years
Development costs
-
10
years
Customer lists
-
10
years

Page 5

 
SELBORNE BIOLOGICAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

2.Accounting policies (continued)

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Portable buildings
-
21.17%
Plant and machinery
-
6.85%
Motor vehicles
-
33.33%
Office equipment
-
20.53%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.13

Debtors

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

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 6

 
SELBORNE BIOLOGICAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

2.Accounting policies (continued)

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.16

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2021 - 13).

Page 7

 
SELBORNE BIOLOGICAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

4.


Intangible assets




Capitalised Product Development

£



Cost


At 1 August 2021
55,278



At 31 July 2022

55,278



Amortisation


At 1 August 2021
27,640


Charge for the year on owned assets
5,528



At 31 July 2022

33,168



Net book value



At 31 July 2022
22,110



At 31 July 2021
27,638



Page 8

 
SELBORNE BIOLOGICAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

5.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 August 2021
93,440
283,116
114,339
490,895


Additions
-
3,058
19,162
22,220


Disposals
(92,342)
-
(71,025)
(163,367)


Transfers between classes
(1,098)
1,098
-
-



At 31 July 2022

-
287,272
62,476
349,748



Depreciation


At 1 August 2021
92,058
240,569
95,305
427,932


Charge for the year on owned assets
-
4,091
401
4,492


Charge for the year on financed assets
-
-
6,566
6,566


Disposals
(91,909)
-
(71,025)
(162,934)


Transfers between classes
(149)
149
-
-



At 31 July 2022

-
244,809
31,247
276,056



Net book value



At 31 July 2022
-
42,463
31,229
73,692



At 31 July 2021
1,382
42,547
19,034
62,963

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2022
2021
£
£



Motor vehicles
30,426
19,699

30,426
19,699

Page 9

 
SELBORNE BIOLOGICAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

6.


Debtors

2022
2021
£
£


Trade debtors
639,422
152,174

Amounts owed by group undertakings
31,473
502,185

Other debtors
3,045
44,726

673,940
699,085


Trade debtors include factored amounts of £446,683 (2021 - £152,174).


7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank overdrafts
-
24,349

Trade creditors
199,104
224,615

Amounts owed to group undertakings
34,848
-

Other taxation and social security
85,598
-

Obligations under finance lease and hire purchase contracts
8,181
-

Proceeds of factored debts
330,142
122,973

Other creditors
194,745
388,135

Accruals and deferred income
53,805
-

906,423
760,072



8.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Net obligations under finance leases and hire purchase contracts
21,620
-

Amounts owed to group undertakings
1,159,780
1,151,884

Other creditors
979,473
860,994

2,160,873
2,012,878


Page 10

 
SELBORNE BIOLOGICAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

9.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £24,857 (2021 - £26,525). Contributions totalling £8,999 (2021 - £13,912) were payable to the fund at the balance sheet date and are included in creditors.


10.


Related party transactions

During the year, the company maintained a loan account with International Therapeutic Proteins Limited and it's subsidiary Australian Therapeutic Proteins Pty Ltd, companies in which the director N G Pope, has a controlling interest. At the year end, Selborne Biological Services Limited (SBS) owed International Therapeutic Proteins Limited (ITP) and Australian Therapeutic Proteins Pty Ltd combined £124,007 (2021 - £167,439).


11.


Controlling party

The ultimate parent company is Equalbrief Limited, a company registered in England.

 
Page 11