Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-01falseManufacture of basic pharmaceutical productsThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.55truetrue 00704871 2023-01-01 2023-12-31 00704871 2022-01-01 2022-12-31 00704871 2023-12-31 00704871 2022-12-31 00704871 2022-01-01 00704871 c:Director1 2023-01-01 2023-12-31 00704871 d:Buildings 2023-01-01 2023-12-31 00704871 d:Buildings 2023-12-31 00704871 d:Buildings 2022-12-31 00704871 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00704871 d:PlantMachinery 2023-01-01 2023-12-31 00704871 d:PlantMachinery 2023-12-31 00704871 d:PlantMachinery 2022-12-31 00704871 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00704871 d:FurnitureFittings 2023-01-01 2023-12-31 00704871 d:FurnitureFittings 2023-12-31 00704871 d:FurnitureFittings 2022-12-31 00704871 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00704871 d:OfficeEquipment 2023-01-01 2023-12-31 00704871 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00704871 d:CurrentFinancialInstruments 2023-12-31 00704871 d:CurrentFinancialInstruments 2022-12-31 00704871 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 00704871 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 00704871 d:ShareCapital 2023-12-31 00704871 d:ShareCapital 2022-12-31 00704871 d:SharePremium 2023-12-31 00704871 d:SharePremium 2022-12-31 00704871 d:RetainedEarningsAccumulatedLosses 2023-12-31 00704871 d:RetainedEarningsAccumulatedLosses 2022-12-31 00704871 c:OrdinaryShareClass1 2023-01-01 2023-12-31 00704871 c:OrdinaryShareClass1 2023-12-31 00704871 c:OrdinaryShareClass1 2022-12-31 00704871 c:FRS102 2023-01-01 2023-12-31 00704871 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 00704871 c:FullAccounts 2023-01-01 2023-12-31 00704871 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00704871 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 00704871 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 00704871 2 2023-01-01 2023-12-31 00704871 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 00704871










DIAGNOSTIC REAGENTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
DIAGNOSTIC REAGENTS LIMITED
REGISTERED NUMBER: 00704871

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
81,600
86,366

  
81,600
86,366

Current assets
  

Stocks
  
118,361
101,906

Debtors: amounts falling due within one year
 5 
24,875
46,062

Cash at bank and in hand
 6 
140,464
176,312

  
283,700
324,280

Creditors: amounts falling due within one year
 7 
(30,321)
(34,546)

Net current assets
  
 
 
253,379
 
 
289,734

Total assets less current liabilities
  
334,979
376,100

Provisions for liabilities
  

Deferred tax
 8 
(10,724)
(11,506)

  
 
 
(10,724)
 
 
(11,506)

Net assets
  
324,255
364,594


Capital and reserves
  

Called up share capital 
 9 
133
133

Share premium account
  
83,292
83,292

Profit and loss account
  
240,830
281,169

  
324,255
364,594


Page 1

 
DIAGNOSTIC REAGENTS LIMITED
REGISTERED NUMBER: 00704871
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A K Denson
Director

Date: 20 September 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
DIAGNOSTIC REAGENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
1.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
1.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
1.4

Pensions

Defined contribution pension plan

The Company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
DIAGNOSTIC REAGENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

 
1.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Page 4

 
DIAGNOSTIC REAGENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

 
1.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold land and buildings
-
2%
Plant and equipment
-
15%
Fixtures and fittings
-
20%
Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
1.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Page 5

 
DIAGNOSTIC REAGENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.


General information

Diagnostic Reagents Limited is a private company, limited by shares, incorporated in England, registration number: 00704871. The principal place of business is Wenman Road, Thame, Oxfordshire, OX9 3NY.  The principal activity of the company in the year under review was that of the manufacture of laboratory testing agents for hospitals.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 5).


4.


Tangible Fixed Assets





Freehold property
Plant & machinery
Fixtures, fittings and equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
89,141
220,533
168,661
478,335



At 31 December 2023

89,141
220,533
168,661
478,335



Depreciation


At 1 January 2023
26,438
197,874
167,658
391,970


Charge for the year on owned assets
1,147
3,399
219
4,765



At 31 December 2023

27,585
201,273
167,877
396,735



Net book value



At 31 December 2023
61,556
19,260
784
81,600



At 31 December 2022
62,703
22,660
1,003
86,366

Page 6

 
DIAGNOSTIC REAGENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
17,740
39,774

Other debtors
1
-

Prepayments and accrued income
7,134
6,288

24,875
46,062



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
140,464
176,312

140,464
176,312



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,441
8,040

Other taxation and social security
19,888
17,666

Other creditors
1,492
1,340

Accruals and deferred income
7,500
7,500

30,321
34,546


Page 7

 
DIAGNOSTIC REAGENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Deferred taxation




2023
2022


£

£






At beginning of year
(11,506)
(12,313)


Charged to profit or loss
783
807



At end of year
(10,723)
(11,506)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(10,724)
(11,506)

(10,724)
(11,506)


9.


Share capital

2023
2022
£
£
Authorised



1,000 (2022 - 1,000) Ordinary shares of £1.00 each
1,000
1,000

Allotted, called up and fully paid



133 (2022 - 133) Ordinary shares of £1.00 each
133
133



10.


Pension commitments

The company contributes to a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund.


11.


Controlling party

Throughout the current and previous period the company was controlled by A K Denson who held the majority of the issued share capital.

 
Page 8