Company Registration No. 09675330 (England and Wales)
BIOAPP SOLUTIONS LIMITED
Unaudited accounts
for the year ended 30 June 2024
BIOAPP SOLUTIONS LIMITED
Unaudited accounts
Contents
BIOAPP SOLUTIONS LIMITED
Company Information
for the year ended 30 June 2024
Directors
J Allanson
M Abrar
Company Number
09675330 (England and Wales)
Registered Office
2A LOW CATTON ROAD
STAMFORD BRIDGE
EAST YORKSHIRE
YO41 1DQ
ENGLAND
Accountants
EK Accounting & Tax Services Limited
Fusion@Magna Business Centre, Unit 23
Magna Way
Rotherham
S60 1FE
BIOAPP SOLUTIONS LIMITED
Statement of financial position
as at 30 June 2024
Tangible assets
314,508
204,853
Cash at bank and in hand
464,038
211,929
Creditors: amounts falling due within one year
(141,942)
(40,226)
Net current assets
446,450
289,348
Total assets less current liabilities
760,958
494,201
Creditors: amounts falling due after more than one year
(63,752)
(32,500)
Net assets
697,206
461,701
Called up share capital
2
2
Profit and loss account
697,204
461,699
Shareholders' funds
697,206
461,701
For the year ending 30 June 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 directors acknowledge their 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 of Directors and authorised for issue on 23 August 2024 and were signed on its behalf by
J Allanson
Director
Company Registration No. 09675330
BIOAPP SOLUTIONS LIMITED
Notes to the Accounts
for the year ended 30 June 2024
BIOAPP SOLUTIONS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 09675330. The registered office is 2A LOW CATTON ROAD, STAMFORD BRIDGE, EAST YORKSHIRE, YO41 1DQ, ENGLAND.
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.
These financial statements for the year ended 30 June 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 July 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
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.
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 rendering of services is recognised by reference to the stage of completion of the contract.
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
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balance
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Expenditure on research and development is written off in the year in which it is incurred.
BIOAPP SOLUTIONS LIMITED
Notes to the Accounts
for the year ended 30 June 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 July 2023
328,570
12,039
16,739
357,348
Additions
227,377
761
4,725
232,863
At 30 June 2024
555,947
12,800
21,464
590,211
At 1 July 2023
136,981
6,501
9,013
152,495
Charge for the year
118,520
1,575
3,113
123,208
At 30 June 2024
255,501
8,076
12,126
275,703
At 30 June 2024
300,446
4,724
9,338
314,508
At 30 June 2023
191,589
5,538
7,726
204,853
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
166,888
141,600
Amounts falling due within one year
Trade debtors
23,759
2,808
Other debtors
99,209
114,837
BIOAPP SOLUTIONS LIMITED
Notes to the Accounts
for the year ended 30 June 2024
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,000
-
Obligations under finance leases and hire purchase contracts
83,549
-
Taxes and social security
4,662
4,886
Loans from directors
34,040
34,040
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
51,252
-
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
9
Operating lease commitments
2024
2023
At 30 June 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
14,332
23,329
Later than one year and not later than five years
18,517
32,849
10
Transactions with related parties
Within other debtors is an amount owed to Bioapp Holdings Limited of £90,000 (2023: £90,000) a company that the directors are shareholders of. The registered office is 2a Low Catton Road, Stamford Bridge, York, England, YO41 1DQ.
11
Average number of employees
During the year the average number of employees was 7 (2023: 7).