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REGISTERED NUMBER: 06187743 (England and Wales)




















Unaudited Financial Statements

for the Period 1 April 2023 to 4 December 2023

for

Invivo Clinical Limited

Invivo Clinical Limited (Registered number: 06187743)






Contents of the Financial Statements
for the Period 1 April 2023 to 4 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Invivo Clinical Limited

Company Information
for the Period 1 April 2023 to 4 December 2023







DIRECTORS: D W Maree
N Richards
M M Bucher
F L Ingram
L H Reid





REGISTERED OFFICE: The Scalpel
18th Floor
52 Lime Street
London
EC3M 7AF





REGISTERED NUMBER: 06187743 (England and Wales)

Invivo Clinical Limited (Registered number: 06187743)

Balance Sheet
4 December 2023

2023 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,102 3,820
Tangible assets 5 71,844 75,635
72,946 79,455

CURRENT ASSETS
Stocks 679,524 668,721
Debtors 6 310,975 296,849
Cash at bank and in hand 464,182 703,293
1,454,681 1,668,863
CREDITORS
Amounts falling due within one year 7 852,370 759,108
NET CURRENT ASSETS 602,311 909,755
TOTAL ASSETS LESS CURRENT
LIABILITIES

675,257

989,210

CREDITORS
Amounts falling due after more than one
year

8

(137,171

)

(228,122

)

PROVISIONS FOR LIABILITIES - (18,759 )
NET ASSETS 538,086 742,329

CAPITAL AND RESERVES
Called up share capital 139 125
Share premium 10,002 2
Share option scheme reserve - 10,899
Retained earnings 527,945 731,303
SHAREHOLDERS' FUNDS 538,086 742,329

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 4 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 4 December 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.

Invivo Clinical Limited (Registered number: 06187743)

Balance Sheet - continued
4 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2024 and were signed on its behalf by:





M M Bucher - Director


Invivo Clinical Limited (Registered number: 06187743)

Notes to the Financial Statements
for the Period 1 April 2023 to 4 December 2023

1. STATUTORY INFORMATION

Invivo Clinical 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.
The presentation currency of the financial statements is the Pound Sterling (£).

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.

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.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures & Fittings20% on straight line basis
Motor Vehicles25% on straight line basis
Computer equipment30% on straight line basis

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

Financial instruments
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently remeasured at their fair value. Changes in the fair value of derivatives are recognised in the profit and loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 period 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Invivo Clinical Limited (Registered number: 06187743)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 4 December 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 34 (2023 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 April 2023
and 4 December 2023 74,727
AMORTISATION
At 1 April 2023 70,907
Amortisation for period 2,718
At 4 December 2023 73,625
NET BOOK VALUE
At 4 December 2023 1,102
At 31 March 2023 3,820

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 163,700 10,916 58,647 233,263
Additions 11,692 - 9,110 20,802
At 4 December 2023 175,392 10,916 67,757 254,065
DEPRECIATION
At 1 April 2023 98,336 10,916 48,376 157,628
Charge for period 19,690 - 4,903 24,593
At 4 December 2023 118,026 10,916 53,279 182,221
NET BOOK VALUE
At 4 December 2023 57,366 - 14,478 71,844
At 31 March 2023 65,364 - 10,271 75,635

Invivo Clinical Limited (Registered number: 06187743)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 4 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Trade debtors 126,446 146,626
Other debtors 41,403 31,079
Tax 94,145 58,332
Prepayments 48,981 60,812
310,975 296,849

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Bank loans and overdrafts 50,000 50,000
Other loans 83,080 80,987
Trade creditors 231,798 367,228
Tax 1,396 -
Social security and other taxes 76,103 129,605
Other creditors 20,610 17,551
Accruals and deferred income 389,383 113,737
852,370 759,108

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2023
£    £   
Bank loans - 1-2 years 50,000 50,000
Bank loans - 2-5 years 23,333 56,667
Other loans - 1-2 years 19,154 60,307
Other loans - 2-5 years 44,684 61,148
137,171 228,122

9. POST BALANCE SHEET EVENTS

The company sold its entire issued and to be issued share capital to Microba Life Sciences Ltd on 5th December 2023.

10. SHARE-BASED PAYMENT TRANSACTIONS

EMI Scheme
The share options in the company were fully exercised in the period, ahead of the acquisition on 5th December 2023.

The expense recognised for share based payment plan in respect of employee services received during the year is (£Nil) (March 2023: (£429)).

The carrying amount of the liability relating to the equity-settled options at the balance sheet date is £Nil (March 2023: £10,899).

A reconciliation of option movements over the year is shown below:

December 2023March 2023






Number
Weighted
average
exercise price



)



Number
Weighted
average
exercise price



)
Outstanding at 1 April14,7400.7423,0390.49
Granted--12,4900.77
Exercised(13,590)0.77--
Forfeited(1,150)0.77(20,789)0.48
Expired----
Outstanding at 31 March--14,7400.74
Exercisable at 31 March--2,0200.55
-