Company No:
Contents
Note | 2024 | 2023 | ||
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Current assets | ||||
Cash at bank and in hand |
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592 | 606 | |||
Creditors: amounts falling due within one year | 4 | (
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Net current liabilities | (1,416) | (1,402) | ||
Total assets less current liabilities | (1,416) | (1,402) | ||
Creditors: amounts falling due after more than one year | 5 | (
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Net liabilities | (
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Capital and reserves | ||||
Called-up share capital | 6 |
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Profit and loss account | (
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Total shareholders' deficit | (
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Directors' responsibilities:
The financial statements of BIOtAK Limited (registered number:
Dr M B ter Haar
Director |
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.
BIOtAK 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 131 South Liberty Lane, Ashton Vale Industrial Estate, Bristol, BS3 2SZ, 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 £.
Although there are net current liabilities of £1,416 at the Statement of Financial Position date the Directors have carefully considered the ability to continue as a going concern. In addition, the directors have received a renewed commitment from BES Healthcare Ltd, its parent company, indicating the continuance of its long term financial support in respect of its own loan to the company and its share of ongoing costs. The parent company is confident that its short term overdraft and loans will be sufficient to meet the requirements of both the parent company and this company.
The directors therefore believe the company will be able to continue as a going concern for the foreseeable future.
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 Statement of Financial Position date.
Plant and machinery |
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Fixtures and fittings |
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Office equipment |
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Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Non-financial assets
If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
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.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Plant and machinery | Fixtures and fittings | Office equipment | Total | ||||
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Cost | |||||||
At 01 April 2023 |
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At 31 March 2024 |
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Accumulated depreciation | |||||||
At 01 April 2023 |
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At 31 March 2024 |
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Net book value | |||||||
At 31 March 2024 |
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At 31 March 2023 |
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2024 | 2023 | ||
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Trade creditors |
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Accruals |
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2024 | 2023 | ||
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Other loans |
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Allotted, called-up and fully-paid | |||
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100 | 100 |
At 31 March 2024 BIOtAK Limited owed a long term loan of £2,212,609 (2023: £2,211,209) to BES Healthcare Ltd, its parent company.
There is a fixed and floating charge over the property and undertakings of the company in favour of borrowings by the company's parent company.