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REGISTERED NUMBER: 11080821 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Biospectrum Limited

Biospectrum Limited (Registered number: 11080821)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Biospectrum Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mrs P A McQuilkin
A P McQuilkin
B Lamper
M W Mahmalji
J S Robb-Eadie





SECRETARY: Mrs P A McQuilkin





REGISTERED OFFICE: Unit 9
Halifax Court
Fernwood Business Park
Newark
Nottinghamshire
NG24 3JP





REGISTERED NUMBER: 11080821 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Chancery Court
34 West Street
Retford
Nottinghamshire
DN22 6ES

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Biospectrum Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Biospectrum Limited for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Biospectrum Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Biospectrum Limited and state those matters that we have agreed to state to the Board of Directors of Biospectrum Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Biospectrum Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Biospectrum Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Biospectrum Limited. You consider that Biospectrum Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Biospectrum Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
Chancery Court
34 West Street
Retford
Nottinghamshire
DN22 6ES


19 September 2024

Biospectrum Limited (Registered number: 11080821)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 130,273 80,308

CURRENT ASSETS
Stocks 474,338 279,462
Debtors 5 523,590 280,756
Cash at bank and in hand 87,794 98,336
1,085,722 658,554
CREDITORS
Amounts falling due within one year 6 483,046 293,077
NET CURRENT ASSETS 602,676 365,477
TOTAL ASSETS LESS CURRENT
LIABILITIES

732,949

445,785

CREDITORS
Amounts falling due after more than one
year

7

(39,095

)

(30,468

)

PROVISIONS FOR LIABILITIES (16,821 ) (11,375 )
NET ASSETS 677,033 403,942

CAPITAL AND RESERVES
Called up share capital 10 140 136
Retained earnings 676,893 403,806
SHAREHOLDERS' FUNDS 677,033 403,942

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

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 19 September 2024 and were signed on its behalf by:





Mrs P A McQuilkin - Director


Biospectrum Limited (Registered number: 11080821)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Biospectrum 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 20% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

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
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Taxation
Taxation for the year 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 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.

Biospectrum Limited (Registered number: 11080821)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 year was 8 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2023 8,823 62,168 4,451
Additions - 34,312 -
At 30 June 2024 8,823 96,480 4,451
DEPRECIATION
At 1 July 2023 5,845 14,269 2,415
Charge for year 1,764 16,400 509
At 30 June 2024 7,609 30,669 2,924
NET BOOK VALUE
At 30 June 2024 1,214 65,811 1,527
At 30 June 2023 2,978 47,899 2,036

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 34,249 5,414 115,105
Additions 44,051 5,172 83,535
At 30 June 2024 78,300 10,586 198,640
DEPRECIATION
At 1 July 2023 9,019 3,249 34,797
Charge for year 13,454 1,443 33,570
At 30 June 2024 22,473 4,692 68,367
NET BOOK VALUE
At 30 June 2024 55,827 5,894 130,273
At 30 June 2023 25,230 2,165 80,308

Biospectrum Limited (Registered number: 11080821)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 July 2023 31,750
Additions 44,051
At 30 June 2024 75,801
DEPRECIATION
At 1 July 2023 7,513
Charge for year 12,954
At 30 June 2024 20,467
NET BOOK VALUE
At 30 June 2024 55,334
At 30 June 2023 24,237

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 454,547 217,311
Other debtors 69,043 63,445
523,590 280,756

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 8) 12,872 4,928
Trade creditors 86,547 43,358
Taxation and social security 258,796 120,685
Other creditors 114,831 114,106
483,046 293,077

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 9,167 19,167
Hire purchase contracts (see note 8) 29,928 11,301
39,095 30,468

Biospectrum Limited (Registered number: 11080821)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 12,872 4,928
Between one and five years 29,928 11,301
42,800 16,229

Non-cancellable operating leases
2024 2023
£    £   
Within one year 22,000 22,000
Between one and five years 66,000 88,000
88,000 110,000

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 42,800 16,229

Hire purchase agreements are secured against the assets they are funding.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
70 Ordinary A £1 70 70
33 Ordinary B £1 33 33
30 Ordinary C £1 30 30
7 Ordinary D £1 7 3
140 136