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REGISTERED NUMBER: 09205938 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Functional Gut Diagnostics Limited

Functional Gut Diagnostics Limited (Registered number: 09205938)

Contents of the Financial Statements
for the Year Ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Functional Gut Diagnostics Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Dr A R Hobson





SECRETARY: HSA Bookkeeping Ltd





REGISTERED OFFICE: Lewis House
Great Chesterford Court
Great Chesterford
Essex
CB10 1PF





BUSINESS ADDRESS: 262 Deansgate
MANCHESTER
M3 4BG





REGISTERED NUMBER: 09205938 (England and Wales)

Functional Gut Diagnostics Limited (Registered number: 09205938)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 113,195 104,235

CURRENT ASSETS
Stocks 117,709 85,386
Debtors 6 356,960 271,742
Cash at bank and in hand 117,616 36,562
592,285 393,690
CREDITORS
Amounts falling due within one year 7 1,072,046 473,391
NET CURRENT LIABILITIES (479,761 ) (79,701 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(366,566

)

24,534

CAPITAL AND RESERVES
Called up share capital 200 200
Share premium 804,900 804,900
Retained earnings (1,171,666 ) (780,566 )
(366,566 ) 24,534

Functional Gut Diagnostics Limited (Registered number: 09205938)

Balance Sheet - continued
31 May 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 January 2025 and were signed by:





Dr A R Hobson - Director


Functional Gut Diagnostics Limited (Registered number: 09205938)

Notes to the Financial Statements
for the Year Ended 31 May 2024


1. STATUTORY INFORMATION

Functional Gut Diagnostics Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - over the remaining life of the lease
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Functional Gut Diagnostics Limited (Registered number: 09205938)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 7 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 29,016 214,076 243,092
Additions 4,674 36,642 41,316
At 31 May 2024 33,690 250,718 284,408
DEPRECIATION
At 1 June 2023 4,809 134,048 138,857
Charge for year 3,168 29,188 32,356
At 31 May 2024 7,977 163,236 171,213
NET BOOK VALUE
At 31 May 2024 25,713 87,482 113,195
At 31 May 2023 24,207 80,028 104,235

Functional Gut Diagnostics Limited (Registered number: 09205938)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 302,146 205,838
Amounts owed by group undertakings 153 -
Other debtors 54,661 65,904
356,960 271,742

Other debtors disclosed above consist of accrued income of £7,915 (2023 - £2,025), prepaid expenses of £46,746 (2023 - £27,355) and taxes of £nil (2023 - £36,524).

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 199,365 74,103
Amounts owed to group undertakings 599,820 11,886
Taxation and social security 173,350 236,223
Other creditors 99,511 151,179
1,072,046 473,391

Other creditors disclosed above consist of accrued expenses of £96,869 (2023 - £148,778), pension contributions of £1,356 (2023 - £nil) and credit card balances of £1,286 (2022 - £2,401).

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 65,000 65,000
Between one and five years 97,500 162,500
162,500 227,500

9. SECURED DEBTS

On 16 September 2022, Triple Point Advancr Leasing PLC secured a fixed and floating charge over all future and present freehold and leasehold property owned by the chargor together with all buildings, structures, fixtures and fittings thereon (including all trade and tenant's fixtures). All present and future patents, patent applications, trade marks and service marks (whether registered or not), copyrights and all other intellectual property rights and all other rights relating thereto legally or beneficially owned by the chargor.

10. ULTIMATE CONTROLLING PARTY

The company is under the immediate control of Alimentary Innervations Ltd and ultimate control of Dr A R Hobson by virtue of his controlling interest in Alimentary Innervations Ltd. Alimentary Innervations Ltd is registered in England and Wales, its registered office is Lewis House, Great Chesterford Court, Great Chesterford, Essex, CB10 1PF and its company registration number is 06909765.

Functional Gut Diagnostics Limited (Registered number: 09205938)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


11. CHANGE OF REPORTING DATE

These financial statements cover the period from 1 June 2023 to 31 May 2024, whereas the previous financial statements covered 1 October 2022 to 31 May 2023.

The reporting date was changed last year to bring the reporting date for this entity into line with the parent company.

As a result of this change, these results are not directly comparable with the previous financial statements.

12. GOING CONCERN

The Company incurred a loss for the year and as at the year end has, as disclosed on the balance sheet, net liabilities. The financial statements are prepared on the going concern basis on the assumption that the Company will continue to receive sufficient financial support from the group, which will provide sufficient funds to enable it to meet its liabilities as they fall due.