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Registration number: 08891750

Hello Bio Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

Pages for filing with Registrar

 

Hello Bio Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 10

 

Hello Bio Limited

Company Information

Directors

Dr Samantha Jayne Roome

Mr James Roy Flanaghan

Dr Steve John Roome

Registered office

Unit 3 IO Centre, Cabot Park
Moorend Farm Avenue
Avonmouth
Bristol
BS11 0QL

Registered number

08891750

Accountant

Corrigan Accountants Limited
1st Floor
25 King Street
Bristol
BS1 4PB

 

Hello Bio Limited

(Registration number: 08891750)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

75,347

107,669

Investments

5

88

88

 

75,435

107,757

Current assets

 

Stocks

6

282,122

302,313

Debtors

7

299,989

298,659

Cash at bank and in hand

 

100,577

88,375

 

682,688

689,347

Creditors: Amounts falling due within one year

8

(453,591)

(495,587)

Net current assets

 

229,097

193,760

Total assets less current liabilities

 

304,532

301,517

Creditors: Amounts falling due after more than one year

8

(44,529)

(68,011)

Net assets

 

260,003

233,506

Capital and reserves

 

Called up share capital

943

943

Share premium reserve

415,947

415,947

Profit and loss account

(156,887)

(183,384)

Total equity

 

260,003

233,506

 

Hello Bio Limited

(Registration number: 08891750)
Balance Sheet as at 31 December 2023 (continued)

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

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 Board on 18 September 2024 and signed on its behalf by:
 



 

Dr Steve John Roome

Director

 

Hello Bio Limited

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

1

Statutory information

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

The address of its registered office is:
Unit 3 IO Centre, Cabot Park
Moorend Farm Avenue
Avonmouth
Bristol
BS11 0QL

2

Accounting policies

Summary of significant accounting policies

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The accounts have been prepared on a going concern basis which assumes that the company has sufficient funds to continue to trade for the foreseeable future. The directors have indicated their willingness to continue to support the company and accordingly the accounts have been prepared on the basis that the company is a going concern.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

 

Hello Bio Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

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 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.

Foreign currency transactions and balances

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.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, 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 income 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.

Tangible fixed assets

Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible fixed assets includes directly attributable incremental costs incurred in their acquisition and installation.

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:

Improvements to property

- 25% straight line

Office equipment

- 25% straight line

Computer equipment

- 25% straight line

Plant and machinery

- 20% straight line

Research and development costs

Research and development costs are written off to profit or loss in the year incurred.

Investments

Investments are measured at cost less impairment.

 

Hello Bio Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

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.

Stocks

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

Trade creditors

Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

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.

 

Hello Bio Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2022 - 10).

4

Tangible fixed assets

Improvements to property
£

Office equipment
£

Computer equipment
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2023

111,392

22,779

9,841

205,904

349,916

Additions

-

435

3,282

6,416

10,133

At 31 December 2023

111,392

23,214

13,123

212,320

360,049

Depreciation

At 1 January 2023

59,117

18,412

4,873

159,845

242,247

Charge for the year

22,707

2,079

2,246

15,423

42,455

At 31 December 2023

81,824

20,491

7,119

175,268

284,702

Carrying amount

At 31 December 2023

29,568

2,723

6,004

37,052

75,347

At 31 December 2022

52,275

4,367

4,968

46,059

107,669

 

Hello Bio Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

5

Investments

2023
£

2022
£

Investments in subsidiaries

88

88

6

Stocks

2023
£

2022
£

Work in progress

16,434

12,498

Stock

265,688

289,815

282,122

302,313

7

Debtors: amounts falling due within one year

Note

2023
£

2022
£

Trade debtors

 

25,969

48,895

Amounts owed by group undertakings

12

233,996

206,105

Other debtors

 

12,990

12,990

VAT

 

6,314

7,960

Prepayments

 

20,720

22,709

 

299,989

298,659


The balance within 'Amounts owed by group undertakings' is interest free and repayable on demand.

In 2022 £160,634 of the trade debtors balance related to intercompany balances, this amount has been reclassified to show in'amounts owed by group undertakings' in the 2022 figures.

 

Hello Bio Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

8

Creditors

Note

2023
£

2022
£

Bank loans and overdrafts

9

25,455

25,455

Trade creditors

 

34,032

51,547

Social security and other taxes

 

13,737

7,338

Other creditors

 

27,118

23,430

Accrued expenses

 

3,450

3,450

Directors' loan accounts

9

349,799

384,367

 

453,591

495,587

Due after one year

 

Loans and borrowings

9

44,529

68,011

9

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

CBIL Loan

25,455

25,455

Directors' loan accounts

349,799

384,367

375,254

409,822

2023
£

2022
£

Non-current loans and borrowings

CBIL Loan

44,529

68,011

 

Hello Bio Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

10

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £0.01 each

94,338

943.38

94,338

943.38

Preference of £0.01 each

4

0.04

4

0.04

 

94,342

943

94,342

943

11

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2023
£

2022
£

55,682

93,864

The amount of non-cancellable operating lease payments recognised as an expense during the year was £38,182 (2022 - £38,182).

12

Related party transactions

The company has taken advantage of the exemption available under FRS 102 Section 1A to not disclose transactions with wholly-owned group members.