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Company No: 13820779 (England and Wales)

NUTRITIONAL SCIENCES LTD

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

NUTRITIONAL SCIENCES LTD

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

NUTRITIONAL SCIENCES LTD

COMPANY INFORMATION

For the financial year ended 31 December 2023
NUTRITIONAL SCIENCES LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS R D Fryer
K Skripka
REGISTERED OFFICE Cooper Buildings Sheffield Science Park
Arundel Street
Sheffield
S1 2NS
United Kingdom
COMPANY NUMBER 13820779 (England and Wales)
ACCOUNTANT Gravita Business Services Limited
Aldgate Tower
2 Leman Street
London
E1 8FA
United Kingdom
NUTRITIONAL SCIENCES LTD

BALANCE SHEET

As at 31 December 2023
NUTRITIONAL SCIENCES LTD

BALANCE SHEET (continued)

As at 31 December 2023
2023 2022
£ £
Current assets
Stocks 94,715 147,934
Debtors 3 32,782 10
Cash at bank and in hand 1,529,216 371,173
1,656,713 519,117
Creditors: amounts falling due within one year 4 ( 695,326) ( 273,063)
Net current assets 961,387 246,054
Total assets less current liabilities 961,387 246,054
Net assets 961,387 246,054
Capital and reserves
Called-up share capital 10 10
Profit and loss account 961,377 246,044
Total shareholder's funds 961,387 246,054

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 financial statements of Nutritional Sciences Ltd (registered number: 13820779) were approved and authorised for issue by the Board of Directors on 06 September 2024. They were signed on its behalf by:

K Skripka
Director
NUTRITIONAL SCIENCES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
NUTRITIONAL SCIENCES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Nutritional Sciences Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Cooper Buildings Sheffield Science Park, Arundel Street, Sheffield, S1 2NS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The Company is profit making and is cash generative on a monthly basis through its operating activities. Given this, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Debtors

2023 2022
£ £
Trade debtors 1,042 0
Amounts owed by Parent undertakings 0 10
Other debtors 31,740 0
32,782 10

4. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 363,544 124,471
Amounts owed to Parent undertakings 0 30,000
Taxation and social security 219,994 78,146
Other creditors 111,788 40,446
695,326 273,063

5. Related party transactions

No remuneration was paid to the directors during the period. The directors are the only key management personnel of the company.

The Company has taken advantage of the exemption available under FRS 102 Section 1A not to disclose details of transactions with wholly owned members of the group headed by its parent company.

6. Ultimate controlling party

Parent Company:

Malaberg Ltd
Unit 206 Cooper Buildings, Arundel Street, Sheffield, South Yorkshire, England, S1 2NS