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Registered number: 04443360
Bioflow Direct Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
PATRICK JAMES AND CO (SW) LTD
CPAA
ROOM G2, MOUNT WISE HOUSE
I DISCOVERY ROAD
MOUNT WISE, PLYMOUTH
DEVON
PL1 4QU
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04443360
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,000,000 1,125,000
Tangible Assets 5 3,410 4,012
1,003,410 1,129,012
CURRENT ASSETS
Stocks 6 118,680 120,931
Debtors 7 163,773 106,956
Cash at bank and in hand 3,665 3,921
286,118 231,808
Creditors: Amounts Falling Due Within One Year 8 (151,564 ) (146,569 )
NET CURRENT ASSETS (LIABILITIES) 134,554 85,239
TOTAL ASSETS LESS CURRENT LIABILITIES 1,137,964 1,214,251
Creditors: Amounts Falling Due After More Than One Year 9 (453,149 ) (446,849 )
PROVISIONS FOR LIABILITIES
Provisions For Charges (230,424 ) -
NET ASSETS 454,391 767,402
CAPITAL AND RESERVES
Called up share capital 10 371,332 371,332
Share premium account 283,733 283,733
Capital redemption reserve 247,555 247,555
Profit and Loss Account (448,229 ) (135,218 )
SHAREHOLDERS' FUNDS 454,391 767,402
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Richard Corsie
Director
17/01/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Bioflow Direct Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04443360 . The registered office is Eden House, Forge Lane, Moorlands Trading Estate, Saltash, PL12 6LX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.5. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.6. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% SL
Fixtures & Fittings 15% SL
Computer Equipment 15% SL
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.8. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 9)
9 9
4. Intangible Assets
Goodwill Other Development Costs Total
£ £ £ £
Cost
As at 1 July 2023 1,250,000 61,610 21,989 1,333,599
As at 30 June 2024 1,250,000 61,610 21,989 1,333,599
Amortisation
As at 1 July 2023 125,000 61,610 21,989 208,599
Provided during the period 125,000 - - 125,000
As at 30 June 2024 250,000 61,610 21,989 333,599
Net Book Value
As at 30 June 2024 1,000,000 - - 1,000,000
As at 1 July 2023 1,125,000 - - 1,125,000
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 6,835 34,685 6,861 48,381
As at 30 June 2024 6,835 34,685 6,861 48,381
Depreciation
As at 1 July 2023 6,835 34,685 2,849 44,369
Provided during the period - - 602 602
As at 30 June 2024 6,835 34,685 3,451 44,971
Net Book Value
As at 30 June 2024 - - 3,410 3,410
As at 1 July 2023 - - 4,012 4,012
6. Stocks
2024 2023
£ £
Stock 118,680 120,931
Page 4
Page 5
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,679 3,969
Other debtors 3,410 10,641
7,089 14,610
Due after more than one year
Amounts owed by group undertakings 44,605 9,211
Other debtors 112,079 83,135
156,684 92,346
163,773 106,956
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 17,439 21,202
Bank loans and overdrafts 35,332 33,981
Other creditors 89,387 69,144
Taxation and social security 9,406 22,242
151,564 146,569
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 350,400 350,400
Other loans 102,749 96,449
453,149 446,849
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 371,332 371,332
Page 5