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Company No: 11903551 (England and Wales)

CERTUS BIOMEDICAL LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2023
Pages for filing with the registrar

CERTUS BIOMEDICAL LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2023

Contents

CERTUS BIOMEDICAL LIMITED

COMPANY INFORMATION

For the financial year ended 30 September 2023
CERTUS BIOMEDICAL LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 September 2023
DIRECTORS Gemma Butcher
Joseph Butcher
Bethany Lampl
William Narey
REGISTERED OFFICE Unit 7c A30 Business Park
Indian Queens
Newquay
England
TR9 6FZ
United Kingdom
COMPANY NUMBER 11903551 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
CERTUS BIOMEDICAL LIMITED

BALANCE SHEET

As at 30 September 2023
CERTUS BIOMEDICAL LIMITED

BALANCE SHEET (continued)

As at 30 September 2023
Note 30.09.2023 30.09.2022
£ £
Fixed assets
Intangible assets 3 17,631 13,000
Tangible assets 4 402,777 217,301
420,408 230,301
Current assets
Stocks 330,191 419,756
Debtors 5 349,743 177,549
Cash at bank and in hand 22,313 17,682
702,247 614,987
Creditors: amounts falling due within one year 6 ( 372,180) ( 261,961)
Net current assets 330,067 353,026
Total assets less current liabilities 750,475 583,327
Creditors: amounts falling due after more than one year 7 ( 964,247) ( 588,876)
Net liabilities ( 213,772) ( 5,549)
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account ( 213,872 ) ( 5,649 )
Total shareholders' deficit ( 213,772) ( 5,549)

For the financial year ending 30 September 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 Certus Biomedical Limited (registered number: 11903551) were approved and authorised for issue by the Board of Directors on 26 September 2024. They were signed on its behalf by:

Joseph Butcher
Director
CERTUS BIOMEDICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
CERTUS BIOMEDICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 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 period, unless otherwise stated.

General information and basis of accounting

Certus Biomedical Limited (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 Unit 7c A30 Business Park, Indian Queens, Newquay, England, TR9 6FZ, 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 directors note that the business has net liabilities of £213,772. The Company is supported through loans from the Parent Company. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Parent Company will continue to support the Company. After making enquiries, 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.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts after eliminating sales within the company.

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.

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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation begins once the asset has been brought into use. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 20 % reducing balance
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Leasehold improvements not depreciated
Plant and machinery 20 % reducing balance
Vehicles 20 % reducing balance
Fixtures and fittings 20 % reducing balance
Computer equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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.

2. Employees

Year ended
30.09.2023
Period from
01.04.2021 to
30.09.2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 16 7

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 October 2022 13,000 13,000
Additions 6,500 6,500
At 30 September 2023 19,500 19,500
Accumulated amortisation
At 01 October 2022 0 0
Charge for the financial year 1,869 1,869
At 30 September 2023 1,869 1,869
Net book value
At 30 September 2023 17,631 17,631
At 30 September 2022 13,000 13,000

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £ £
Cost
At 01 October 2022 0 118,240 115,121 6,784 0 240,145
Additions 3,737 105,604 102,499 63,621 1,408 276,869
Disposals 0 0 ( 20,000) 0 0 ( 20,000)
At 30 September 2023 3,737 223,844 197,620 70,405 1,408 497,014
Accumulated depreciation
At 01 October 2022 0 12,858 9,033 953 0 22,844
Charge for the financial year 0 37,205 30,573 9,632 144 77,554
Disposals 0 0 ( 6,161) 0 0 ( 6,161)
At 30 September 2023 0 50,063 33,445 10,585 144 94,237
Net book value
At 30 September 2023 3,737 173,781 164,175 59,820 1,264 402,777
At 30 September 2022 0 105,382 106,088 5,831 0 217,301

5. Debtors

30.09.2023 30.09.2022
£ £
Trade debtors 283,431 175,148
Other debtors 66,312 2,401
349,743 177,549

6. Creditors: amounts falling due within one year

30.09.2023 30.09.2022
£ £
Trade creditors 55,242 8,048
Other taxation and social security 59,965 12,882
Obligations under finance leases and hire purchase contracts 16,483 0
Other creditors 240,490 241,031
372,180 261,961

7. Creditors: amounts falling due after more than one year

30.09.2023 30.09.2022
£ £
Obligations under finance leases and hire purchase contracts 81,868 0
Other creditors 882,379 588,876
964,247 588,876

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

30.09.2023 30.09.2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with the entity's directors

30.09.2023 30.09.2022
£ £
Director's Loan Accounts - J & G Butcher 64,008 12,885
Director's Loan Accounts - W Narey (135,061) (61,672)

The total amount of £71,053 is due by the Company to the Directors (£48,787 in 2022).

Advances

An advance for £51,123 was made to the directors Joe and Gemma Butcher during the year, with the conditions it is an interest-free loan repayable on demand.

Other related party transactions

30.09.2023 30.09.2022
£ £
Global Inhalation Equipment Limited 616,009 727,957
Hypneuma Limited 33,358 53,390

Included in creditors due less than one year are amounts due to Hypneuma Limited (£33,358). Included within creditors due more than one year is an amount due to Global Inhalation Equipment Limited (£616,009).

Global Inhalation Equipment Limited is the parent company of Certus Biomedical Limited. It also has significant control of Hypneuma Limited.