Company Registration No. 11766919 (England and Wales)
Biospace Ltd
Unaudited accounts
for the year ended 31 January 2024
Biospace Ltd
Unaudited accounts
Contents
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
Biospace Ltd
Statement of financial position
as at 31 January 2024
Tangible assets
4,184
7,422
Cash at bank and in hand
2,926
5,580
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
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
Biospace Ltd
Notes to the Accounts
for the year ended 31 January 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 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.
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 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 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.
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
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
At 31 January 2024
1,417
2,767
4,184
At 31 January 2023
2,931
4,491
7,422
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Investments
Other investments
Valuation at 1 February 2023
265
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.
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
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
3,285
2,400
Taxes and social security
39,136
35,009
Loans from directors
(5,314)
(3,732)
The bank loan relates to the Coronavirus Bounce Back Loan.
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
The bank loan relates to the Coronavirus Bounce Back Loan.
Allotted, called up and fully paid:
1,410 Ordinary shares of £1 each
1,410
1,410
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director's Loan
3,732
1,582
-
5,314
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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)
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Average number of employees
During the year the average number of employees was 0 (2023: 1).