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REGISTERED NUMBER: 02110304 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

JAYTEE BIOSCIENCES LIMITED

JAYTEE BIOSCIENCES LIMITED (REGISTERED NUMBER: 02110304)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JAYTEE BIOSCIENCES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: Mrs S E Tiley
Mr J M Tiley
Mr P Boother
Mr J M Butler





REGISTERED OFFICE: The Boulevard
Altira Business Park
Herne Bay
Kent
CT6 6GZ





REGISTERED NUMBER: 02110304 (England and Wales)





ACCOUNTANTS: Mackenzies Accountants Limited
Chartered Accountants
1 Langley Court
Pyle Street
Newport
Isle of Wight
PO30 1LA

JAYTEE BIOSCIENCES LIMITED (REGISTERED NUMBER: 02110304)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 84,541 28,224
Tangible assets 5 177,444 36,217
Investments 6 250,331 250,331
512,316 314,772

CURRENT ASSETS
Stocks 7 2,289,066 2,136,167
Debtors 8 1,162,563 1,076,204
Cash at bank and in hand 570,698 741,328
4,022,327 3,953,699
CREDITORS
Amounts falling due within one year 9 1,300,861 1,033,284
NET CURRENT ASSETS 2,721,466 2,920,415
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,233,782

3,235,187

CREDITORS
Amounts falling due after more than one
year

10

(133,828

)

(190,000

)

PROVISIONS FOR LIABILITIES 12 (11,739 ) -
NET ASSETS 3,088,215 3,045,187

CAPITAL AND RESERVES
Called up share capital 13 45,100 45,100
Retained earnings 3,043,115 3,000,087
SHAREHOLDERS' FUNDS 3,088,215 3,045,187

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

JAYTEE BIOSCIENCES LIMITED (REGISTERED NUMBER: 02110304)

BALANCE SHEET - continued
31 JULY 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





Mr J M Tiley - Director


JAYTEE BIOSCIENCES LIMITED (REGISTERED NUMBER: 02110304)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

Jaytee Biosciences 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

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
Software development, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - Straight line over 6 years
Plant and machinery - 25% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


JAYTEE BIOSCIENCES LIMITED (REGISTERED NUMBER: 02110304)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2022 - 41 ) .

4. INTANGIBLE FIXED ASSETS
Software
development
£
COST
At 1 August 2022 29,249
Additions 61,327
At 31 July 2023 90,576
AMORTISATION
At 1 August 2022 1,025
Amortisation for year 5,010
At 31 July 2023 6,035
NET BOOK VALUE
At 31 July 2023 84,541
At 31 July 2022 28,224

JAYTEE BIOSCIENCES LIMITED (REGISTERED NUMBER: 02110304)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£ £ £ £ £
COST
At 1 August 2022 293,840 64,388 241,916 97,433 697,577
Additions - - 89,130 80,213 169,343
Disposals - - - (27,888 ) (27,888 )
At 31 July 2023 293,840 64,388 331,046 149,758 839,032
DEPRECIATION
At 1 August 2022 293,840 60,506 235,449 71,565 661,360
Charge for year - 2,258 14,217 11,641 28,116
Eliminated on disposal - - - (27,888 ) (27,888 )
At 31 July 2023 293,840 62,764 249,666 55,318 661,588
NET BOOK VALUE
At 31 July 2023 - 1,624 81,380 94,440 177,444
At 31 July 2022 - 3,882 6,467 25,868 36,217

6. FIXED ASSET INVESTMENTS
Unlisted
investments
£
COST
At 1 August 2022
and 31 July 2023 250,331
NET BOOK VALUE
At 31 July 2023 250,331
At 31 July 2022 250,331

7. STOCKS
2023 2022
£ £
Stocks 2,289,066 2,136,167

JAYTEE BIOSCIENCES LIMITED (REGISTERED NUMBER: 02110304)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 1,110,366 1,037,696
Other debtors 9,480 10,080
Directors' current accounts 10,629 -
Tax 11,793 -
Deferred tax asset - 6,430
Prepayments 20,295 21,998
1,162,563 1,076,204

Included in Trade Debtors is an amount of £191,237 (2022: £191,237) due from Nutracrest Limited; a related company.

Other debtors represents Tax recoverable under S.455 CTA 2010 of £6,880 (2022: £6,880) and Staff loan of £2,600 (2022: £3,200).

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 61,767 60,000
Trade creditors 180,831 178,788
Tax - 14
Social security and other taxes 40,296 38,151
VAT 112,045 76,778
Other creditors 23,261 10,348
Directors' current accounts 6,066 4,167
Accruals and deferred income 876,595 665,038
1,300,861 1,033,284

Deferred income amounts to £783,634 (2022: £663,035) and relates to service contract invoices which extend beyond the year end for up to a period not exceeding eleven months.

Other creditors includes an amount due of £23,261 (2022: £10,347.57) in relation to pension liability.

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans - 1-2 years 61,767 60,000
Bank loans - 2-5 years 72,061 130,000
133,828 190,000

JAYTEE BIOSCIENCES LIMITED (REGISTERED NUMBER: 02110304)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 128,562 154,633
Between one and five years 33,223 75,806
161,785 230,439

12. PROVISIONS FOR LIABILITIES
2023
£
Deferred tax 11,739

Deferred tax
£
Balance at 1 August 2022 (6,430 )
Provided during year 18,169
Balance at 31 July 2023 11,739

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £1 100 100
45,000 Ordinary B £1 45,000 45,000
45,100 45,100

14. RELATED PARTY DISCLOSURES

The company has previously traded with Nutracrest Limited; a company in which Mr J M Tiley and Mrs S Tiley are also directors. At the balance sheet date, trade debtors included £191,237 (2022: £191,237) in respect of Nutracrest Limited.

During the year, the company sold goods and services to Intesichem Limited; a company in which Mr J M Tiley is also a director. At the balance sheet date, trade debtors included £7,200 (2022: £2,400) in respect of Intesichem Limited.

During the year, the company sold goods and services to JST Instruments; a business in which Mr J M Tiley and Mrs S Tiley are both partners. At the balance sheet date, trade debtors included £2,530 (2022:£3,398) in respect of JST Instruments.

All of the transactions included within the financial period were carried out at the market rate and under normal commercial terms.

JAYTEE BIOSCIENCES LIMITED (REGISTERED NUMBER: 02110304)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


15. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J Tiley by virtue of his controlling interest in Jaytee Group Limited.