Enzo Life Sciences (UK) Limited 02584159 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is the distribution of life science research products and services. Digita Accounts Production Advanced 6.30.9574.0 true true false 02584159 2022-08-01 2023-07-31 02584159 2023-07-31 02584159 core:RetainedEarningsAccumulatedLosses 2023-07-31 02584159 core:ShareCapital 2023-07-31 02584159 core:CurrentFinancialInstruments 2023-07-31 02584159 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 02584159 bus:SmallEntities 2022-08-01 2023-07-31 02584159 bus:Audited 2022-08-01 2023-07-31 02584159 bus:FullAccounts 2022-08-01 2023-07-31 02584159 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 02584159 bus:RegisteredOffice 2022-08-01 2023-07-31 02584159 bus:Director12 2022-08-01 2023-07-31 02584159 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 02584159 1 2022-08-01 2023-07-31 02584159 countries:AllCountries 2022-08-01 2023-07-31 02584159 2021-08-01 2022-07-31 02584159 2022-07-31 02584159 core:RetainedEarningsAccumulatedLosses 2022-07-31 02584159 core:ShareCapital 2022-07-31 02584159 core:CurrentFinancialInstruments 2022-07-31 02584159 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 iso4217:GBP xbrli:pure

Registration number: 02584159

Enzo Life Sciences (UK) Limited

Filleted Financial Statements

for the Year Ended 31 July 2023

 

Enzo Life Sciences (UK) Limited
(Registration number: 02584159)

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Enzo Life Sciences (UK) Limited
(Registration number: 02584159)

Company Information

Director

K A Cannon

Registered office

1 Colleton Crescent
Exeter
Devon
EX2 4DG

Auditors

Thompson Jenner LLP
Statutory Auditor
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

Enzo Life Sciences (UK) Limited
(Registration number: 02584159)

Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Current assets

 

Debtors

5

1,854,220

1,561,393

Cash at bank and in hand

 

54,944

35,336

 

1,909,164

1,596,729

Creditors: Amounts falling due within one year

6

(5,191,072)

(3,892,427)

Net liabilities

 

(3,281,908)

(2,295,698)

Capital and reserves

 

Called up share capital

616,691

616,691

Profit and loss account

(3,898,599)

(2,912,389)

Total equity

 

(3,281,908)

(2,295,698)

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 by the director on 22 March 2024
 

.........................................
K A Cannon
Director

 

Enzo Life Sciences (UK) Limited
(Registration number: 02584159)

Notes to the Financial Statements for the Year Ended 31 July 2023

1

General information

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

The address of its registered office is:
1 Colleton Crescent
Exeter
Devon
EX2 4DG

2

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.

Going concern

The company has made a loss during the year to 31 July 2023 and has net liabilities. The directors believe that the company can trade profitably in the future, and that the company is currently making a positive contribution to the group as a whole.

The company has received confirmation of continued support from its parent company Axxora (UK) Ltd and has a letter of guarantee from the ultimate controlling party Enzo Biochem Inc that any outstanding balances will be settled on the company's behalf, should this be required.

Therefore these accounts have been prepared on a going concern basis.

 

Enzo Life Sciences (UK) Limited
(Registration number: 02584159)

Notes to the Financial Statements for the Year Ended 31 July 2023

Audit report

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 23 April 2024 was Mr Jonathan Westley, who signed for and on behalf of Thompson Jenner LLP.

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.

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.

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.

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.

 

Enzo Life Sciences (UK) Limited
(Registration number: 02584159)

Notes to the Financial Statements for the Year Ended 31 July 2023

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2022 - 5).

4

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Auditor's remuneration - the audit of the company's annual accounts

5,600

5,500

Foreign currency (gains)/losses

70,556

(97,158)

5

Debtors

2023
£

2022
£

Trade debtors

136,237

105,847

Amounts owed by group undertakings and undertakings in which the company has a participating interest

1,673,983

1,411,546

Other debtors

44,000

44,000

Total current trade and other debtors

1,854,220

1,561,393

 

Enzo Life Sciences (UK) Limited
(Registration number: 02584159)

Notes to the Financial Statements for the Year Ended 31 July 2023

6

Creditors

2023
£

2022
£

Due within one year

Trade creditors

12,426

5,587

Amounts owed to group undertakings and undertakings in which the company has a participating interest

5,001,373

3,741,864

Taxation and social security

61,076

37,999

Other creditors

29,831

23,624

Accrued expenses

86,366

83,353

5,191,072

3,892,427

7

Pension schemes

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £32,301 (2022 - £21,051).

Contributions totalling £Nil (2022 - £Nil) were payable to the scheme at the end of the year.

8

Contingent assets

The company has an unprovided deferred tax asset in respect of tax losses available to be set off against future taxable profits. This asset is valued at £1,003,204 (2022 - £756,403) and is calculated using a tax rate of 25% (2022 - 25%). Deferred tax balances are not discounted.

9

Related party transactions

The company has taken advantage of the exemptions in FRS 102 Section 1A "Related Party Disclosures" from disclosing transactions with other members of the group and key management personnel.

 

Enzo Life Sciences (UK) Limited
(Registration number: 02584159)

Notes to the Financial Statements for the Year Ended 31 July 2023

10

Parent and ultimate parent undertaking

The company is controlled by Axxora (UK) Limited, the immediate parent company. The ultimate controlling party is Enzo Biochem Inc.

Enzo Biochem Inc. is a company incorporated in the state of New York in the United States of America and listed on the New York Stock Exchange.

Copies of the accounts are available from:

Investor and Public Relations
LifeSci Advisors
250 West 55th Street Suite 3401
New York
NY