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REGISTERED NUMBER: SC736113 (Scotland)













Unaudited Financial Statements

for the Year Ended 30 June 2024

for

BRAIN HEALTH SCOTLAND LIFE SCIENCES LTD

BRAIN HEALTH SCOTLAND LIFE SCIENCES LTD (REGISTERED NUMBER: SC736113)






Contents of the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BRAIN HEALTH SCOTLAND LIFE SCIENCES LTD

Company Information
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: M Cook
C W Ritchie
Ms J M Brown
Ms J Fielding
G K McCall
C S G Smith





REGISTERED OFFICE: Gyleview House
3 Redheughs Rigg
Edinburgh
EH12 9DQ





REGISTERED NUMBER: SC736113 (Scotland)





ACCOUNTANTS: BK Plus Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

BRAIN HEALTH SCOTLAND LIFE SCIENCES LTD (REGISTERED NUMBER: SC736113)

Balance Sheet
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 55,084 41,241

CURRENT ASSETS
Debtors 5 115,764 88,087
Cash at bank and in hand 402,177 989,500
517,941 1,077,587
CREDITORS
Amounts falling due within one year 6 1,158,576 96,428
NET CURRENT (LIABILITIES)/ASSETS (640,635 ) 981,159
TOTAL ASSETS LESS CURRENT
LIABILITIES

(585,551

)

1,022,400

CREDITORS
Amounts falling due after more than one
year

7

1,500,000

1,500,000
NET LIABILITIES (2,085,551 ) (477,600 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (2,085,552 ) (477,601 )
(2,085,551 ) (477,600 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

BRAIN HEALTH SCOTLAND LIFE SCIENCES LTD (REGISTERED NUMBER: SC736113)

Balance Sheet - continued
30 JUNE 2024


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 Board of Directors and authorised for issue on 10 December 2024 and were signed on its behalf by:





C W Ritchie - Director


BRAIN HEALTH SCOTLAND LIFE SCIENCES LTD (REGISTERED NUMBER: SC736113)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Brain Health Scotland Life Sciences Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Going Concern Note

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The company's liabilities exceeded its assets by £2,085,551 at June 2024 (2023: £477,600). The company is thus dependent on the continued financial support of its creditors. The directors are confident of this continuing support and of the company's long term trading prospects and on this basis considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from the withdrawal of financial support.

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 each asset over its estimated useful life.
Plant and machinery - 20% on a straight line basis
Fixtures and fittings - 25% on a straight line basis
Computer equipment - 33% on a straight line basis

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.


BRAIN HEALTH SCOTLAND LIFE SCIENCES LTD (REGISTERED NUMBER: SC736113)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 July 2023 22,205 15,191 7,597 44,993
Additions 19,777 2,781 6,635 29,193
Disposals (419 ) - - (419 )
At 30 June 2024 41,563 17,972 14,232 73,767
DEPRECIATION
At 1 July 2023 1,588 1,555 609 3,752
Charge for year 7,256 4,256 3,461 14,973
Eliminated on disposal (42 ) - - (42 )
At 30 June 2024 8,802 5,811 4,070 18,683
NET BOOK VALUE
At 30 June 2024 32,761 12,161 10,162 55,084
At 30 June 2023 20,617 13,636 6,988 41,241

BRAIN HEALTH SCOTLAND LIFE SCIENCES LTD (REGISTERED NUMBER: SC736113)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 23,364 12,468
Other debtors 92,400 75,619
115,764 88,087

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 193,610 47,041
Taxation and social security 43,441 29,054
Other creditors 921,525 20,333
1,158,576 96,428

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Other creditors 1,500,000 1,500,000