24 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 10228159 2023-07-01 2024-06-30 10228159 2024-06-30 10228159 2023-06-30 10228159 2022-07-01 2023-06-30 10228159 2023-06-30 10228159 2022-06-30 10228159 core:LandBuildings core:LongLeaseholdAssets 2023-07-01 2024-06-30 10228159 core:PlantMachinery 2023-07-01 2024-06-30 10228159 core:FurnitureFittings 2023-07-01 2024-06-30 10228159 bus:Director3 2023-07-01 2024-06-30 10228159 core:LandBuildings core:LongLeaseholdAssets 2023-06-30 10228159 core:PlantMachinery 2023-06-30 10228159 core:FurnitureFittings 2023-06-30 10228159 core:LandBuildings core:LongLeaseholdAssets 2024-06-30 10228159 core:PlantMachinery 2024-06-30 10228159 core:FurnitureFittings 2024-06-30 10228159 core:WithinOneYear 2024-06-30 10228159 core:WithinOneYear 2023-06-30 10228159 core:ShareCapital 2024-06-30 10228159 core:ShareCapital 2023-06-30 10228159 core:RetainedEarningsAccumulatedLosses 2024-06-30 10228159 core:RetainedEarningsAccumulatedLosses 2023-06-30 10228159 core:LandBuildings core:LongLeaseholdAssets 2023-06-30 10228159 core:PlantMachinery 2023-06-30 10228159 core:FurnitureFittings 2023-06-30 10228159 bus:SmallEntities 2023-07-01 2024-06-30 10228159 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 10228159 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 10228159 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10228159 bus:FullAccounts 2023-07-01 2024-06-30 10228159 core:OfficeEquipment 2023-07-01 2024-06-30 10228159 core:OfficeEquipment 2023-06-30 10228159 core:OfficeEquipment 2024-06-30
COMPANY REGISTRATION NUMBER: 10228159
Excellerate Bioscience Limited
Filleted Unaudited Financial Statements
30 June 2024
Excellerate Bioscience Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
687,055
663,064
Current assets
Debtors
6
253,970
235,974
Cash at bank and in hand
1,633,420
967,068
------------
------------
1,887,390
1,203,042
Creditors: amounts falling due within one year
7
646,802
321,038
------------
------------
Net current assets
1,240,588
882,004
------------
------------
Total assets less current liabilities
1,927,643
1,545,068
------------
------------
Net assets
1,927,643
1,545,068
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,927,543
1,544,968
------------
------------
Shareholders funds
1,927,643
1,545,068
------------
------------
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 comprehensive income has not been delivered.
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.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Excellerate Bioscience Limited
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 10 April 2025 , and are signed on behalf of the board by:
Mr S S Chahal
Director
Company registration number: 10228159
Excellerate Bioscience Limited
Notes to the Financial Statements
Year ended 30 June 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 NG2 Business Park, 21 The Triangle, Nottingham, NG2 1AE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, Small Entities of Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
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.
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:
Leasehold improvements
-
25% reducing balance
Plant and machinery
-
20% reducing balance
Fixtures and fittings
-
20% reducing balance
Office equipment
-
20% straight line
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.
Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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 24 (2023: 21 ).
5. Tangible assets
Leasehold improve.
Plant and machinery
Fixtures and fittings
Office equipment
Total
£
£
£
£
£
Cost
At 1 July 2023
275,687
578,838
7,816
21,879
884,220
Additions
117,611
39,529
6,841
163,981
---------
---------
--------
--------
------------
At 30 June 2024
275,687
696,449
47,345
28,720
1,048,201
---------
---------
--------
--------
------------
Depreciation
At 1 July 2023
6,812
199,659
2,567
12,118
221,156
Charge for the year
53,775
79,233
3,175
3,807
139,990
---------
---------
--------
--------
------------
At 30 June 2024
60,587
278,892
5,742
15,925
361,146
---------
---------
--------
--------
------------
Carrying amount
At 30 June 2024
215,100
417,557
41,603
12,795
687,055
---------
---------
--------
--------
------------
At 30 June 2023
268,875
379,179
5,249
9,761
663,064
---------
---------
--------
--------
------------
6. Debtors
2024
2023
£
£
Trade debtors
185,229
Other debtors
68,741
235,974
---------
---------
253,970
235,974
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
345,362
260,588
Corporation tax
230,478
36,369
Social security and other taxes
47,155
19,421
Other creditors
23,807
4,660
---------
---------
646,802
321,038
---------
---------
8. The ultimate controlling party
The ultimate controlling party is Excellerate Bioscience Holdings Limited.