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Company Registration No. 11766919 (England and Wales)
Biospace Ltd Unaudited accounts for the year ended 31 January 2024
Biospace Ltd Unaudited accounts Contents
Page
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Biospace Ltd Company Information for the year ended 31 January 2024
Director
Marcin Walaszczyk
Company Number
11766919 (England and Wales)
Registered Office
71-75 Shelton Street Covent Garden London WC2H 9JQ United Kingdom
Accountants
The Accountancy Cloud 1 Fore Street Avenue London EC2Y 9DT
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Biospace Ltd Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
4,184 
7,422 
Investments
3,334 
265 
7,518 
7,687 
Current assets
Debtors
63,685 
59,128 
Cash at bank and in hand
2,926 
5,580 
66,611 
64,708 
Creditors: amounts falling due within one year
(58,050)
(51,681)
Net current assets
8,561 
13,027 
Total assets less current liabilities
16,079 
20,714 
Creditors: amounts falling due after more than one year
(5,895)
(9,067)
Provisions for liabilities
Deferred tax
(501)
(501)
Net assets
9,683 
11,146 
Capital and reserves
Called up share capital
1,410 
1,410 
Profit and loss account
8,273 
9,736 
Shareholders' funds
9,683 
11,146 
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 October 2024 and were signed on its behalf by
Marcin Walaszczyk Director Company Registration No. 11766919
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Biospace Ltd Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Biospace Ltd is a private company, limited by shares, registered in England and Wales, registration number 11766919. The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line
Computer equipment
20% Straight Line
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Going concern
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern for the foreseeable future.
Investments
Investments in shares are initially measured at transaction price and subsequently measured at fair value. Investments shall be measured using the cost model if it is impracticable to measure fair value reliably without undue cost or effort.
Deferred taxation
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 accounts. 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.
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Biospace Ltd Notes to the Accounts for the year ended 31 January 2024
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 February 2023
5,282 
8,622 
13,904 
Disposals
(1,832)
- 
(1,832)
At 31 January 2024
3,450 
8,622 
12,072 
Depreciation
At 1 February 2023
2,351 
4,131 
6,482 
Charge for the year
1,056 
1,724 
2,780 
On disposals
(1,374)
- 
(1,374)
At 31 January 2024
2,033 
5,855 
7,888 
Net book value
At 31 January 2024
1,417 
2,767 
4,184 
At 31 January 2023
2,931 
4,491 
7,422 
5
Investments
Other investments 
£ 
Valuation at 1 February 2023
265 
Additions
3,069 
Valuation at 31 January 2024
3,334 
Biospace Limited owns 3,333,840 B Ordinary shares of ZipZero Global Limited as of the year end.
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
29,510 
29,510 
Amounts due from group undertakings etc.
23,297 
20,740 
Accrued income and prepayments
5,000 
3,000 
Other debtors
5,878 
5,878 
63,685 
59,128 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
3,285 
2,400 
VAT
20,906 
17,955 
Trade creditors
37 
49 
Taxes and social security
39,136 
35,009 
Loans from directors
(5,314)
(3,732)
58,050 
51,681 
The bank loan relates to the Coronavirus Bounce Back Loan.
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Biospace Ltd Notes to the Accounts for the year ended 31 January 2024
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
5,895 
9,067 
The bank loan relates to the Coronavirus Bounce Back Loan.
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1,410 Ordinary shares of £1 each
1,410 
1,410 
10
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Marcin Walaszczyk
Director's Loan
3,732 
1,582 
- 
5,314 
3,732 
1,582 
- 
5,314 
11
Transactions with related parties
At the year end, Biospace Ventures sp. z.o.o., a company wholly owned by Marcin Walaszcsyk, owes £12,947 to Biospace Ltd (2023: £8,432). This intercompany loan carries an interest rate of 2% per annum. At the year end, Mindatory Ltd, a company in which the director owns 50%, owes £5,000 to Biospace Ltd (2023: £5,000). This intercompany loan carries an no interest rate and is repayable on demand. During the year the Company sold goods in the ordinary course of business to ZipZero Global Ltd, in which company holds 19.8% of their shares. Amounts owed to the Company at the reporting date were £5,350 (2023: £7,308). Included in Aged Receivables are the following balances: Biospace OU: £2,910 (2023 : £2,910) Mindatory Ltd: £23,000 (2023 : £23,000) ZipZero Global Ltd: £3,600 (2023 : £3,600)
12
Average number of employees
During the year the average number of employees was 0 (2023: 1).
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