8 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 10,685 10,685 xbrli:pure xbrli:shares iso4217:GBP 08987505 2023-05-01 2024-04-30 08987505 2024-04-30 08987505 2023-04-30 08987505 2022-05-01 2023-04-30 08987505 2023-04-30 08987505 2022-04-30 08987505 core:PlantMachinery 2023-05-01 2024-04-30 08987505 core:FurnitureFittings 2023-05-01 2024-04-30 08987505 core:MotorVehicles 2023-05-01 2024-04-30 08987505 bus:Director1 2023-05-01 2024-04-30 08987505 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-30 08987505 core:PlantMachinery 2023-04-30 08987505 core:FurnitureFittings 2023-04-30 08987505 core:MotorVehicles 2023-04-30 08987505 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-30 08987505 core:PlantMachinery 2024-04-30 08987505 core:FurnitureFittings 2024-04-30 08987505 core:MotorVehicles 2024-04-30 08987505 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 08987505 core:WithinOneYear 2024-04-30 08987505 core:WithinOneYear 2023-04-30 08987505 core:AfterOneYear 2024-04-30 08987505 core:AfterOneYear 2023-04-30 08987505 core:ShareCapital 2024-04-30 08987505 core:ShareCapital 2023-04-30 08987505 core:RetainedEarningsAccumulatedLosses 2024-04-30 08987505 core:RetainedEarningsAccumulatedLosses 2023-04-30 08987505 core:BetweenOneFiveYears 2024-04-30 08987505 core:BetweenOneFiveYears 2023-04-30 08987505 core:PlantMachinery 2023-04-30 08987505 core:FurnitureFittings 2023-04-30 08987505 core:MotorVehicles 2023-04-30 08987505 bus:SmallEntities 2023-05-01 2024-04-30 08987505 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 08987505 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 08987505 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 08987505 bus:FullAccounts 2023-05-01 2024-04-30 08987505 core:ComputerEquipment 2023-04-30 08987505 core:ComputerEquipment 2023-05-01 2024-04-30 08987505 core:ComputerEquipment 2024-04-30
COMPANY REGISTRATION NUMBER: 08987505
CRYOSTHETICS LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 April 2024
CRYOSTHETICS LTD
STATEMENT OF FINANCIAL POSITION
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
228,017
153,462
Current assets
Stocks
100,069
198,887
Debtors
7
104,950
38,540
Cash at bank and in hand
7,354
11,285
----------
----------
212,373
248,712
Creditors: amounts falling due within one year
8
249,171
168,112
----------
----------
Net current (liabilities)/assets
( 36,798)
80,600
----------
----------
Total assets less current liabilities
191,219
234,062
Creditors: amounts falling due after more than one year
9
35,732
51,970
Provisions
42,165
35,036
----------
----------
Net assets
113,322
147,056
----------
----------
Capital and reserves
Called up share capital
100
100
Profit and loss account
113,222
146,956
----------
----------
Shareholders funds
113,322
147,056
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
CRYOSTHETICS LTD
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 4 December 2024 , and are signed on behalf of the board by:
T A Loughrey Hill
Director
Company registration number: 08987505
CRYOSTHETICS LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 168 Church Road, Hove, England, BN3 DL. The princpal trading address is Sussex House, 190 South Coast Road, Peacehaven, East Sussex, BN10 8JJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. The financial statements have been prepared under the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends upon the continuing support of the company's directors and bankers. If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values of the assets to their recoverable amounts and to provide for further liabilities that might arise. The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Website costs is being amortised evenly over its estimated useful life of three years.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
Straight line over 3 years
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes 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. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2023: 8 ).
5. Intangible assets
Development costs
£
Cost
At 1 May 2023 and 30 April 2024
10,685
---------
Amortisation
At 1 May 2023 and 30 April 2024
10,685
---------
Carrying amount
At 30 April 2024
---------
At 30 April 2023
---------
6. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 May 2023
224,908
42,493
59,075
20,674
347,150
Additions
51,183
6,250
9,690
65,083
3,979
136,185
---------
----------
---------
----------
---------
----------
At 30 Apr 2024
51,183
231,158
52,183
124,158
24,653
483,335
---------
----------
---------
----------
---------
----------
Depreciation
At 1 May 2023
135,054
26,528
14,769
17,337
193,688
Charge for the year
24,026
6,414
27,347
3,843
61,630
---------
----------
---------
----------
---------
----------
At 30 Apr 2024
159,080
32,942
42,116
21,180
255,318
---------
----------
---------
----------
---------
----------
Carrying amount
At 30 Apr 2024
51,183
72,078
19,241
82,042
3,473
228,017
---------
----------
---------
----------
---------
----------
At 30 Apr 2023
89,854
15,965
44,306
3,337
153,462
---------
----------
---------
----------
---------
----------
7. Debtors
2024
2023
£
£
Trade debtors
99,822
29,660
Amounts owed by group undertakings and undertakings in which the company has a participating interest
719
Other debtors
5,128
8,161
----------
---------
104,950
38,540
----------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
5,556
5,556
Trade creditors
13,811
35,338
Amounts owed to group undertakings and undertakings in which the company has a participating interest
3,338
Corporation tax
36,201
48,034
Social security and other taxes
28,734
31,848
Other creditors
161,531
47,336
----------
----------
249,171
168,112
----------
----------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
28,704
34,259
Other creditors
7,028
17,711
---------
---------
35,732
51,970
---------
---------
10. Finance leases and hire purchase contracts
The total future minimum lease payments under finance leases and hire purchase contracts are as follows:
2024
2023
£
£
Not later than 1 year
10,683
10,683
Later than 1 year and not later than 5 years
7,028
17,711
---------
---------
17,711
28,394
---------
---------
11. Director's advances, credits and guarantees
Included within creditors falling due in less than one year are directors' loans totalling £125,890 (2023: £11,012). These loans are interest free and repayable on demand.