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Registration number: 09655087

Science Creates Services Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

Pages for filing with Registrar

 

Science Creates Services Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 11

 

Science Creates Services Ltd

Company Information

Directors

T M Smart

Dr H S Destecroix

K J MacDonald

Dr A Brewer

C Proctor

Registered office

Science Creates St Philips
Albert Road
St Philips
Bristol
BS2 0XJ

Registered number

09655087

Accountants

Corrigan Accountants Limited
1st Floor
25 King Street
Bristol
BS1 4PB

 

Science Creates Services Ltd

(Registration number: 09655087)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

15,721

57,071

Investments

6

17,470

17,470

 

33,191

74,541

Current assets

 

Stocks

1,822

-

Debtors

7

91,565

49,756

Cash at bank and in hand

 

339,041

9,040

 

432,428

58,796

Creditors: Amounts falling due within one year

8

(341,021)

(141,988)

Net current assets/(liabilities)

 

91,407

(83,192)

Total assets less current liabilities

 

124,598

(8,651)

Provisions for liabilities

(3,409)

(3,409)

Net assets/(liabilities)

 

121,189

(12,060)

Capital and reserves

 

Called up share capital

9

33

33

Profit and loss account

121,156

(12,093)

Total equity

 

121,189

(12,060)

 

Science Creates Services Ltd

(Registration number: 09655087)
Balance Sheet as at 30 June 2023 (continued)

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the Board on 24 January 2024 and signed on its behalf by:
 

.........................................

K J MacDonald
Director

 

Science Creates Services Ltd

Notes to the Financial Statements for the Year Ended 30 June 2023

1

Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Science Creates St Philips
Albert Road
St Philips
Bristol
BS2 0XJ

2

Accounting policies

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The accounts have been prepared on a going concern basis which assumes that the company has sufficient funds to continue to trade for the foreseeable future. The directors have indicated their willingness to continue to support the company and accordingly the accounts have been prepared on the basis that the company is a going concern.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises 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.

 

Science Creates Services Ltd

Notes to the Financial Statements for the Year Ended 30 June 2023

2

Accounting policies (continued)

Tangible fixed assets

Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation.

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

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Plant and machinery

25% on cost

Computer equipment

33% on cost

Catering equipment

33% on cost

Investments

Investments are measured at cost less impairment.

Research and development costs

Research and development costs are written off to profit or loss in the year incurred.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are recognised initially at the transaction price. They are subsequently measured 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised 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 are 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.

 

Science Creates Services Ltd

Notes to the Financial Statements for the Year Ended 30 June 2023

2

Accounting policies (continued)

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 16 (2022 - 12).

 

Science Creates Services Ltd

Notes to the Financial Statements for the Year Ended 30 June 2023

4

Taxation

Deferred tax

Deferred tax assets and liabilities

2023

Asset
£

Liability
£

Accelerated capital allowances

-

10,843

Tax losses carry-forwards

7,434

-

7,434

10,843

2022

Asset
£

Liability
£

Accelerated capital allowances

-

10,843

Tax losses carry-forwards

7,434

-

7,434

10,843

 

Science Creates Services Ltd

Notes to the Financial Statements for the Year Ended 30 June 2023

5

Tangible fixed assets

Plant and machinery
£

Computer equipment
£

Catering equipment
 £

Total
£

Cost

At 1 July 2022

340,617

17,871

-

358,488

Additions

383

4,332

183

4,898

Disposals

(239,682)

(4,277)

-

(243,959)

At 30 June 2023

101,318

17,926

183

119,427

Depreciation

At 1 July 2022

289,032

12,385

-

301,417

Charge for the year

15,284

3,093

5

18,382

Eliminated on disposal

(213,392)

(2,701)

-

(216,093)

At 30 June 2023

90,924

12,777

5

103,706

Carrying amount

At 30 June 2023

10,394

5,149

178

15,721

At 30 June 2022

51,585

5,486

-

57,071

6

Investments

2023
£

2022
£

Investments

17,470

17,470

The company owns 100,000 shares in QLM Technology Ltd which represents less than 1% of total share capital and 621 shares in Carbometrics Limited which represents 3% of total share capital.

 

Science Creates Services Ltd

Notes to the Financial Statements for the Year Ended 30 June 2023

7

Debtors: amounts falling due within one year

Note

2023
£

2022
£

Trade debtors

 

57,304

43,157

Amounts owed by related parties

11

29,465

2,118

Other debtors

 

33

1,865

Prepayments

 

4,763

2,616

 

91,565

49,756

8

Creditors

2023
£

2022
£

Due within one year

Trade creditors

15,609

2,581

Corporation tax

34,019

-

Taxation and social security

28,542

29,856

Other creditors

500

6,951

Accruals and deferred income

227,951

2,600

Director's loan account

34,400

100,000

341,021

141,988

 

Science Creates Services Ltd

Notes to the Financial Statements for the Year Ended 30 June 2023

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £0.03 each

1,000

33

1,000

33

         

10

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2023
£

2022
£

1,500

4,800

11

Related party transactions

Income and receivables from related parties

2023

Entities with joint control or significant influence
£

Amounts receivable from related party

65,185

2022

Entities with joint control or significant influence
£

Amounts receivable from related party

38,958

 

Science Creates Services Ltd

Notes to the Financial Statements for the Year Ended 30 June 2023

11

Related party transactions (continued)

Expenditure with related parties

2023

Entities with joint control or significant influence
£

Amounts payable to related party

1,058

2022

Entities with joint control or significant influence
£

Amounts payable to related party

797