2023-04-012024-03-312024-03-31false10208462Advanced Bioprocess Services 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Advanced Bioprocess Services Limited

Registered Number
10208462
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

Advanced Bioprocess Services Limited
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

Glen, Katie Elizabeth, Dr
Thomas, Robert James, Dr

Registered Address

90 Main Street
East Leake
Loughborough
LE12 6PG

Registered Number

10208462 (England and Wales)
Advanced Bioprocess Services Limited
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets397,455162,873
Investments44,992,9763,577,915
5,090,4313,740,788
Current assets
Debtors5439,867669,850
Cash at bank and on hand480,773293,296
920,640963,146
Creditors amounts falling due within one year6(227,297)(252,371)
Net current assets (liabilities)693,343710,775
Total assets less current liabilities5,783,7744,451,563
Provisions for liabilities7(60,964)(40,718)
Net assets5,722,8104,410,845
Capital and reserves
Called up share capital11
Share premium416,004416,004
Profit and loss account5,306,8053,994,840
Shareholders' funds5,722,8104,410,845
The financial statements were approved and authorised for issue by the Board of Directors on 7 October 2024, and are signed on its behalf by:
Thomas, Robert James, Dr
Director
Registered Company No. 10208462
Advanced Bioprocess Services Limited
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the Income Statement on a straight-line basis over the period of the lease.
Employee benefits
The company operates 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 obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the income statement.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Research and development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which range from 3 to 6 years. If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery403
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
The Company 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.
2.Average number of employees

20242023
Average number of employees during the year43
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 April 23397,112397,112
At 31 March 24397,112397,112
Depreciation and impairment
At 01 April 23234,239234,239
Charge for year65,41865,418
At 31 March 24299,657299,657
Net book value
At 31 March 2497,45597,455
At 31 March 23162,873162,873
4.Fixed asset investments
The investments below are listed investments. The historical cost of the fixed asset investments as at 31 March 2024 was £4,846,510 (31 March 2023 £3,670,682).

Other investments1

Total

££
Cost or valuation
At 01 April 233,577,9153,577,915
Additions1,333,9371,333,937
Revaluations239,233239,233
Disposals(158,109)(158,109)
At 31 March 244,992,9764,992,976
Net book value
At 31 March 244,992,9764,992,976
At 31 March 233,577,9153,577,915

Notes

1Other investments other than loans
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables20,208224,934
Other debtors-1,200
Called up share capital not paid, current asset416,004416,004
Prepayments and accrued income3,65527,712
Total439,867669,850
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables18,83328,381
Taxation and social security203,824220,060
Other creditors365356
Accrued liabilities and deferred income4,2753,574
Total227,297252,371
7.Provisions for liabilities
The provision for deferred tax is made up of £24,272 (2023 - £40,718) in respect of accelerated capital allowances on tangible fixed assets and £36,692 (2023 - £nil) in respect of other assets.

2024

2023

££
Net deferred tax liability (asset)60,96440,718
Total60,96440,718
8.Pension commitments
The pension cost charge represents contributions payable by the company to the fund and amounted to £1,858 (2023 - £935).