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Registration number: 11920270

Darwin Biological Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Darwin Biological Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Darwin Biological Limited

Company Information

Director

MR Bilson

Registered office

Shawbury House
Shawbury
Shrewsbury
Shropshire
SY4 4NL

Accountants

CBSL Accountants Limited
Chartered Accountants
Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

 

Darwin Biological Limited

(Registration number: 11920270)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

3,833

5,833

Tangible assets

5

46,192

47,230

 

50,025

53,063

Current assets

 

Stocks

6

15,113

12,614

Debtors

7

16,157

20,673

Cash at bank and in hand

 

28,547

30,563

 

59,817

63,850

Creditors: Amounts falling due within one year

8

(84,861)

(82,852)

Net current liabilities

 

(25,044)

(19,002)

Net assets

 

24,981

34,061

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

24,881

33,961

Shareholders' funds

 

24,981

34,061

For the financial 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 accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 January 2025
 


MR Bilson
Director

 

Darwin Biological Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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:
Shawbury House
Shawbury
Shrewsbury
Shropshire
SY4 4NL

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

Darwin Biological Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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

Lab equipment

Over 5 years straight line

Office equipment

Over 3 years straight line

Fixtures and fittings

Over 5 years straight line

Leasehold improvents

Over 20 years straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

Darwin Biological Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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 year, was 4 (2023 - 4).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

10,000

10,000

At 30 April 2024

10,000

10,000

Amortisation

At 1 May 2023

4,167

4,167

Amortisation charge

2,000

2,000

At 30 April 2024

6,167

6,167

Carrying amount

At 30 April 2024

3,833

3,833

At 30 April 2023

5,833

5,833

 

Darwin Biological Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

34,965

8,232

10,977

54,174

Additions

-

2,190

3,488

5,678

At 30 April 2024

34,965

10,422

14,465

59,852

Depreciation

At 1 May 2023

874

2,714

3,356

6,944

Charge for the year

1,748

2,352

2,616

6,716

At 30 April 2024

2,622

5,066

5,972

13,660

Carrying amount

At 30 April 2024

32,343

5,356

8,493

46,192

At 30 April 2023

34,091

5,518

7,621

47,230

Included within the net book value of land and buildings above is £32,343 (2023 - £34,091) in respect of short leasehold land and buildings.
 

6

Stocks

2024
£

2023
£

Other inventories

15,113

12,614

7

Debtors

Current

2024
£

2023
£

Trade debtors

16,157

16,949

Other debtors

-

3,724

 

16,157

20,673

 

Darwin Biological Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

5,561

508

Taxation and social security

15,851

14,335

Accruals and deferred income

350

350

Other creditors

63,099

67,659

84,861

82,852

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

10

Related party transactions

At 30 April 2024 the company owed the director £63,012 (2023 - £67,609), which is included in Other creditors.