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Registration number: 05726828

Pinmoore Animal Laboratory Services Ltd

Filleted Financial Statements

for the Period from 1 April 2022 to 31 December 2022

 

Pinmoore Animal Laboratory Services Ltd

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 7

 

Pinmoore Animal Laboratory Services Ltd

(Registration number: 05726828)
Balance Sheet as at 31 December 2022

Note

31 December
2022
£

31 March
2022
£

Fixed assets

 

Tangible assets

4

46,473

53,146

Current assets

 

Stocks

5

12,498

12,498

Debtors

6

296,207

482,834

Cash at bank and in hand

 

9,430

-

 

318,135

495,332

Creditors: Amounts falling due within one year

7

(296,871)

(365,604)

Net current assets

 

21,264

129,728

Total assets less current liabilities

 

67,737

182,874

Creditors: Amounts falling due after more than one year

7

(97,455)

(147,671)

Provisions for liabilities

(12,581)

(12,581)

Net (liabilities)/assets

 

(42,299)

22,622

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(42,399)

22,522

Shareholders' (deficit)/funds

 

(42,299)

22,622

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 2 December 2024
 

.........................................
Andrew David Nelson
Director

   
     
 

Pinmoore Animal Laboratory Services Ltd

Notes to the Financial Statements for the Period from 1 April 2022 to 31 December 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit G1 Valiant Way
154 Business Park
Wolverhampton
Staffordshire
WV9 5GB
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Disclosure of long or short period

The financial statements have been prepared to 31 December 2022. The comparatives were prepared to 31 March 2022. The reason for the shortened accounting period in the current year was to align with the period end of the company's parent Orchid Cellmark Limited.

Going concern

In August 2024, Pinmoore joined the Eurofins network when its ultimate holding company DNACO Limited became a wholly owned subsidiary of Eurofins Scientific SE.

This new leadership will assist management to grow the business, focus on opportunities and identify cost cutting initiatives. As a result EBITDA is expected to increase in 2024 and 2025.

The group is willing to support the business by providing an equity injection in 2024. It is group policy to provide internal funding for companies and the Eurofins NSC Treasury monitor the cash for this company on a weekly basis.

In view of the above the directors believe that it is appropriate to prepare the financial statements on a going concern basis.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 2 December 2024 was Caroline Webster FCA, who signed for and on behalf of UHY Ross Brooke.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

 

Pinmoore Animal Laboratory Services Ltd

Notes to the Financial Statements for the Period from 1 April 2022 to 31 December 2022

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

10% reducing balance

Computer equipment

25% reducing balance

Fixtures and fittings

10% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

 

Pinmoore Animal Laboratory Services Ltd

Notes to the Financial Statements for the Period from 1 April 2022 to 31 December 2022

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 13 (2022 - 13).

 

Pinmoore Animal Laboratory Services Ltd

Notes to the Financial Statements for the Period from 1 April 2022 to 31 December 2022

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 April 2022

67,770

4,978

18,927

91,675

At 31 December 2022

67,770

4,978

18,927

91,675

Depreciation

At 1 April 2022

24,455

4,303

9,771

38,529

Charge for the period

4,459

125

2,089

6,673

At 31 December 2022

28,914

4,428

11,860

45,202

Carrying amount

At 31 December 2022

38,856

550

7,067

46,473

At 31 March 2022

43,315

675

9,156

53,146

5

Stocks

31 December
2022
£

31 March
2022
£

Raw materials and consumables

12,498

12,498

6

Debtors

Current

Note

31 December
2022
£

31 March
2022
£

Trade debtors

 

89,247

82,966

Amounts owed by related parties

86,000

-

Prepayments

 

3,774

15,095

Other debtors

 

117,186

384,773

   

296,207

482,834

 

Pinmoore Animal Laboratory Services Ltd

Notes to the Financial Statements for the Period from 1 April 2022 to 31 December 2022

7

Creditors

Creditors: amounts falling due within one year

31 December
2022
£

31 March
2022
£

Due within one year

Loans and borrowings

47,193

35,509

Trade creditors

151,463

212,241

Taxation and social security

93,352

114,198

Other creditors

4,863

3,656

296,871

365,604

Creditors: amounts falling due after more than one year

Note

31 December
2022
£

31 March
2022
£

Due after one year

 

Loans and borrowings

8

97,455

147,671

8

Loans and borrowings

31 December
2022
£

31 March
2022
£

Current loans and borrowings

Bank borrowings

44,145

30,966

Bank overdrafts

-

1,493

Other borrowings

3,048

3,050

47,193

35,509

 

Pinmoore Animal Laboratory Services Ltd

Notes to the Financial Statements for the Period from 1 April 2022 to 31 December 2022

31 December
2022
£

31 March
2022
£

Non-current loans and borrowings

Bank borrowings

93,841

141,770

Other borrowings

3,614

5,901

97,455

147,671

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £224,833 (March 2022 - £253,333). Financial commitments relate to non-cancellable operating lease commitment of property.

10

Parent and ultimate parent undertaking

The company's immediate parent is Orchid Cellmark Ltd, incorporated in England and Wales.

 The ultimate parent is Eurofins Scientific SE, incorporated in Luxembourg.

  These financial statements are available upon request from the ultimate parent company's website.