Company registration number:
for the Year Ended
Cytoplan Limited
Contents
Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Cytoplan Limited
(Registration number: 01493205)
Balance Sheet as at 31 August 2023
Note |
2023 |
2022 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Investments |
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Current assets |
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Stocks |
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Debtors |
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Other financial assets |
859,368 |
804,299 |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
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Provisions |
(674,971) |
(738,603) |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Revaluation reserve |
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Profit and loss account |
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Total equity |
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These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The option not to file the profit and loss account and directors’ report has been taken.
Approved and authorised by the
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Cytoplan Limited
Statement of Changes in Equity
for the Year Ended 31 August 2023
Share capital |
Share premium |
Revaluation reserve |
Retained earnings |
Total |
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At 1 September 2022 |
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Profit for the year |
- |
- |
- |
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Gift aid payment |
- |
- |
- |
( |
( |
At 31 August 2023 |
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Share capital |
Share premium |
Revaluation reserve |
Retained earnings |
Total |
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At 1 September 2021 |
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Profit for the year |
- |
- |
- |
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Gift aid payment |
- |
- |
- |
( |
( |
At 31 August 2022 |
455,000 |
562,882 |
9,647 |
3,546,628 |
4,574,157 |
Cytoplan Limited
Notes to the Financial Statements
for the Year Ended 31 August 2023
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
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, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are presented in Sterling (£).
Summary of disclosure exemptions
The company has taken the exemption under the Companies Act and not prepared consolidated accounts on the basis the group is a small group.
Going concern
The financial statements have been prepared on a going concern basis.
Cytoplan Limited
Notes to the Financial Statements
for the Year Ended 31 August 2023
Key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet and the amounts reported for revenue and expenses during the year. However the nature of estimation means the actual outcomes could differ from those involving estimates. The following judgments (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
- The company has provided for unfunded pension payments of £674,971 (2022: £738,603) based on their assessment of the expected future liability to the company.
Turnover recognition
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenues earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risk and rewards of ownership of the goods have transferred to the buyer.
Government grants
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the profit and loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the profit and loss in the same period as the related expenditure.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current 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 taxable income.
Deferred tax is recognised on timing differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.
Tangible assets
Tangible assets are stated at cost, less accumulated depreciation and accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Cytoplan Limited
Notes to the Financial Statements
for the Year Ended 31 August 2023
Depreciation of tangible assets
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Improvements to property |
33% and 20% straight line basis |
Plant and machinery |
33%, 20% and10% straight line basis |
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Intangible assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative amortisation losses.
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 class |
Amortisation method and rate |
Computer software and consultancy costs |
20% & 33.3% straight line basis |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
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.
Cytoplan Limited
Notes to the Financial Statements
for the Year Ended 31 August 2023
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.
Other debtors and loans receivable are initially recognised at fair value net of transaction costs and are subsequently measured at amortised cost using the effective interest method less any provision for impairment.
Stocks
Stocks are measured at the lower of cost and estimated selling prices less costs to complete and sell after making due allowance for obsolete and slow moving items. Cost is determined using the average cost method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. Cost includes direct expenditure and an appropriate proportion of variable overheads.
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.
Other financial liabilities are measured individually at fair value net of transaction costs and subsequently at amortised cost using the effective interest method.
Reserves
Called up share capital represents the nominal value of shares that have been issued.
Share premium account includes any premiums received on the issue of share capital. Transaction costs associated with the issuing of shares are deducted from the share premium.
Profit and loss account includes all current and prior period profits and losses.
Revaluation reserve is the surplus or deficit arising on the revaluation of an asset of a company.
Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
Cytoplan Limited
Notes to the Financial Statements
for the Year Ended 31 August 2023
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
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.
Defined contribution pension obligation
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 payments obligations.
The contributions are recognised as an expense in the profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
The pension provision is held at revaluation and is considered for revaluation each year by the directors. The provision is unwound each year as payments are made under the scheme.
Staff numbers |
The average number of persons employed by the company (including directors) during the year was
Intangible assets |
Computer software and consultancy |
Total |
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Cost or valuation |
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At 1 September 2022 |
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At 31 August 2023 |
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Amortisation |
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At 1 September 2022 |
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Amortisation charge |
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At 31 August 2023 |
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Carrying amount |
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At 31 August 2023 |
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At 31 August 2022 |
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Cytoplan Limited
Notes to the Financial Statements
for the Year Ended 31 August 2023
Tangible assets |
Land and buildings |
Plant and machinery |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 September 2022 |
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Additions |
- |
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- |
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At 31 August 2023 |
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Depreciation |
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At 1 September 2022 |
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Charge for the year |
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At 31 August 2023 |
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Carrying amount |
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At 31 August 2023 |
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At 31 August 2022 |
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Included within the net book value of land and buildings above is £39,084 (2022 - £75,761) in respect of long leasehold land and buildings.
Investments |
2023 |
2022 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 September 2022 |
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Carrying amount |
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At 31 August 2023 |
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At 31 August 2022 |
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Cytoplan Limited
Notes to the Financial Statements
for the Year Ended 31 August 2023
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2023 |
2022 |
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Subsidiary undertakings |
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Unit 8
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Ordinary shares |
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England |
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Unit 8
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Ordinary shares |
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England |
Subsidiary undertakings |
Nature's Own Limited The principal activity of Nature's Own Limited is |
Biogrow Limited The principal activity of Biogrow Limited is |
Cytoplan Limited
Notes to the Financial Statements
for the Year Ended 31 August 2023
Other financial assets (current and non-current) |
Financial assets at fair value through profit and loss |
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Current financial assets |
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Cost or valuation |
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At 1 September 2022 |
804,299 |
Fair value adjustments |
(10,257) |
Additions |
75,000 |
Disposals |
(9,674) |
At 31 August 2023 |
859,368 |
Carrying amount |
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At 31 August 2023 |
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At 31 August 2022 |
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Stocks |
2023 |
2022 |
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Finished goods and goods for resale |
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Debtors |
2023 |
2022 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Cytoplan Limited
Notes to the Financial Statements
for the Year Ended 31 August 2023
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Corporation tax |
303,218 |
89,457 |
Other creditors |
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Due after one year |
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Other non-current financial liabilities |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
The total amount of contingencies not included in the balance sheet is £Nil (2022 - £20,000).
Parent and ultimate parent undertaking |
The company's immediate parent is
These financial statements are available upon request from the Charity Commission.
Cytoplan Limited
Notes to the Financial Statements
for the Year Ended 31 August 2023
Non adjusting events after the financial period |
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Provisions for liabilities |
£ |
£ |
|
Provision for unfunded pension payments |
674,971 |
738,603 |
674,971 |
738,603 |
Audit Report |