Company registration number 05061695 (England and Wales)
ATTOLIFE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
ATTOLIFE LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
ATTOLIFE LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
90,711
76,506
Tangible assets
4
543,943
853,041
634,654
929,547
Current assets
Stocks
64,484
63,138
Debtors
5
1,626,671
2,592,666
Cash at bank and in hand
27,365
791,673
1,718,520
3,447,477
Creditors: amounts falling due within one year
6
(524,207)
(442,804)
Net current assets
1,194,313
3,004,673
Total assets less current liabilities
1,828,967
3,934,220
Creditors: amounts falling due after more than one year
7
(1,887)
(47,999)
Net assets
1,827,080
3,886,221
Capital and reserves
Called up share capital
298,928
298,928
Profit and loss reserves
1,528,152
3,587,293
Total equity
1,827,080
3,886,221
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
ATTOLIFE LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 14 March 2025
Dr T Haizel
Director
Company registration number 05061695 (England and Wales)
ATTOLIFE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
Attolife Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 33 Scottow Enterprise Park, Lamas Road, Badersfield, Norwich, Norfolk, England, NR10 5FB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
1.4
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
1.5
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Development costs
- 10% straight line
1.6
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
- 20% straight line
Fixtures and fittings
- 20% straight line
Computers
- 20% straight line
Motor vehicles
- 25% straight line
ATTOLIFE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.8
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.10
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
1.11
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
ATTOLIFE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
28
44
3
Intangible fixed assets
Goodwill
Other
Total
£
£
£
Cost
At 1 April 2023
28,113
285,623
313,736
Additions
33,300
33,300
At 31 March 2024
28,113
318,923
347,036
Amortisation and impairment
At 1 April 2023
8,434
228,797
237,231
Amortisation charged for the year
2,811
16,283
19,094
At 31 March 2024
11,245
245,080
256,325
Carrying amount
At 31 March 2024
16,868
73,843
90,711
At 31 March 2023
19,680
56,826
76,506
ATTOLIFE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
1,978,074
Additions
27,187
Disposals
(43,050)
At 31 March 2024
1,962,211
Depreciation and impairment
At 1 April 2023
1,125,035
Depreciation charged in the year
327,673
Eliminated in respect of disposals
(34,440)
At 31 March 2024
1,418,268
Carrying amount
At 31 March 2024
543,943
At 31 March 2023
853,041
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
60,412
167,794
Corporation tax recoverable
495,111
589,600
Amounts owed by group undertakings
844,224
1,523,239
Other debtors
226,924
312,033
1,626,671
2,592,666
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
315,954
236,702
Taxation and social security
49,964
41,908
Other creditors
158,289
164,194
524,207
442,804
ATTOLIFE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
1,887
47,999