BIOSEARLAB CIC

Company limited by guarantee

Company Registration Number:
11738016 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

BIOSEARLAB CIC

Contents of the Financial Statements

for the Period Ended 31 December 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Community Interest Report

BIOSEARLAB CIC

Directors' report period ended 31 December 2023

The directors present their report with the financial statements of the company for the period ended 31 December 2023

Principal activities of the company

BiosearLab operates within the research facilities of the University of East London (UEL) and carries out research that have a health and social impact. The main research activities have been on biological aspects of alcohol addiction. The aim of the research is to both understand the mechanisms of addiction so that they can be targeted by drugs and to investigate the potential action of compounds that can substitute alcohol removing its negative impact. BiosearLab has also participated in the development of a project to investigate vaping among young people in collaboration with UEL staff and Newham Council. The director has also been engaging with an external partner to explore the possibility of research on pathogens of potato and onion crops which have a major societal impact especially in less industrialised countries. The director has donated personal funds to BiosearLab to support its current activities.



Directors

The director shown below has held office during the whole of the period from
1 January 2023 to 31 December 2023

Stefano Casalotti


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
1 September 2024

And signed on behalf of the board by:
Name: Stefano Casalotti
Status: Director

BIOSEARLAB CIC

Profit And Loss Account

for the Period Ended 31 December 2023

2023 2022


£

£
Turnover: 10,452 9,267
Cost of sales: ( 10,294 ) ( 9,795 )
Gross profit(or loss): 158 (528)
Operating profit(or loss): 158 (528)
Profit(or loss) before tax: 158 (528)
Profit(or loss) for the financial year: 158 (528)

BIOSEARLAB CIC

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Current assets
Cash at bank and in hand: 1,956 1,986
Total current assets: 1,956 1,986
Net current assets (liabilities): 1,956 1,986
Total assets less current liabilities: 1,956 1,986
Total net assets (liabilities): 1,956 1,986
Members' funds
Profit and loss account: 1,956 1,986
Total members' funds: 1,956 1,986

The notes form part of these financial statements

BIOSEARLAB CIC

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 4 September 2024
and signed on behalf of the board by:

Name: Stefano Casalotti
Status: Director

The notes form part of these financial statements

BIOSEARLAB CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

BIOSEARLAB CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 0 0

COMMUNITY INTEREST ANNUAL REPORT

BIOSEARLAB CIC

Company Number: 11738016 (England and Wales)

Year Ending: 31 December 2023

Company activities and impact

BiosearLab stated purpose is to facilitate the exchange of knowledge from university to the community. Alcohol consumption is a major societal problem. This year a main focus of the company has been primary research to validate the effect of a non-alcoholic mood enhancing drink. The development of such drinks could have a strong societal benefit by reducing alcohol consumption. BiosearLab has also given advanced training opportunities to young people seeking a career in science. Students from less wellknown universities often struggle in their career progression due to lack of opportunities in gaining work experience.

Consultation with stakeholders

BiosearLab has continued to consult with a local hospital about the establishment of training laboratory at the University of East London . This laboratory would allow hospital staff and university students to receive specialised training in simulated environment. A grant application was submitted and further details have been requested by the funders.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
1 September 2024

And signed on behalf of the board by:
Name: Stefano Casalotti
Status: Director