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REGISTERED NUMBER: 03809941 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ACM GLOBAL CENTRAL LABORATORY LTD

ACM GLOBAL CENTRAL LABORATORY LTD (REGISTERED NUMBER: 03809941)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2024










Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Income Statement 7

Other Comprehensive Income 8

Statement of Financial Position 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11


ACM GLOBAL CENTRAL LABORATORY LTD

COMPANY INFORMATION
for the year ended 31 December 2024







DIRECTOR: K B Babineau





REGISTERED OFFICE: 23 Hospital Fields Road
York
YO10 4DZ





REGISTERED NUMBER: 03809941 (England and Wales)

ACM GLOBAL CENTRAL LABORATORY LTD (REGISTERED NUMBER: 03809941)

STRATEGIC REPORT
for the year ended 31 December 2024


The director presents his strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS
2024 Performance

ACM delivered £24.3m in consolidated revenue in 2024. This is in line with our 2023 revenue and also our 2024 revenue expectations in the context of macroeconomic developments during the second half of the reporting period.

ACM delivered £4.6m of EBITDA in 2024, which was approx £1m above the 2023 figure. This has been driven by cost savings across the business.


2025 Expected Performance

ACM is expecting to deliver £22m of revenue in 2025 based on current budget projections which is a reduction to the revenue delivered in 2024. There is a strong sales pipeline for 2025 with planned upside that could lead to overachieving budgeted revenue. The budgeted EBITDA is £3.7m for 2025.

Despite challenges in the overall business environment ACM is continuing to see growth and improved performance. The focus on operational improvements and quality, along with dedicated efforts to secure new clients and projects are materializing. ACM expects to accelerate its new sales bookings and rebuild the backlog of studies being performed in the UK labs. With the US based bookings already on track for the fifth year of growth, ACM expects to win a greater percentage of the studies that incorporate a UK/EU component.

PRINCIPAL RISKS AND UNCERTAINTIES
The key business risks remain the competitive nature of the sector in which ACM Global Central Laboratory LTD operates, Geopolitical risks in Eastern Europe and the Middle East. These risks are mitigated by the geographic diversity of the larger ACM Group business, client diversification, and continued effort to expand capabilities (in our BioAnalytical Lab and investment in newer technology) and coverage. Further, recent investments in leadership, IT infrastructure, quality systems and customer facing teams will position ACM to benefit from both the growing market and preferred partnerships it maintains with its top customers.

ON BEHALF OF THE BOARD:





K B Babineau - Director


16 May 2025

ACM GLOBAL CENTRAL LABORATORY LTD (REGISTERED NUMBER: 03809941)

REPORT OF THE DIRECTOR
for the year ended 31 December 2024


The director presents his report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the provision of clinical laboratory services.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2024.

RESEARCH AND DEVELOPMENT
The company is engaged in research and development activities through the provision of clinical trials and related central laboratory services to the pharmaceutical industry.

FUTURE DEVELOPMENTS
Details regarding future developments can be found in the Strategic Report.

DIRECTOR
K B Babineau held office during the whole of the period from 1 January 2024 to the date of this report.

FINANCIAL INSTRUMENTS
The company's principal financing arrangements are bank balances, trade debtors and creditors, and loan funding from its parent company in order to fund the company's operations.

GOING CONCERN
Information relating to going concern can be found in the Notes to the Financial Statements.

DIRECTOR'S RESPONSIBILITIES STATEMENT
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





K B Babineau - Director


16 May 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ACM GLOBAL CENTRAL LABORATORY LTD


Opinion
We have audited the financial statements of ACM Global Central Laboratory Ltd (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ACM GLOBAL CENTRAL LABORATORY LTD


Responsibilities of director
As explained more fully in the Director's Responsibilities Statement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment and health and safety legislation. An understanding of these laws and regulations and the extent of compliance was obtained through discussion with management and inspecting legal and regulatory correspondence.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive and Medicines and Healthcare Products Regulatory Agency, as well as the company's legal advisors.

Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ACM GLOBAL CENTRAL LABORATORY LTD


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Steven Aitken BSc ACA CTA (Senior Statutory Auditor)
for and on behalf of Smailes Goldie Watson Limited
Statutory Auditors
Chartered Accountants
Units 7-8 Manor Court
Manor Garth
Eastfield
Scarborough
North Yorkshire
YO11 3TU

16 May 2025

ACM GLOBAL CENTRAL LABORATORY LTD (REGISTERED NUMBER: 03809941)

INCOME STATEMENT
for the year ended 31 December 2024

2024 2023
Notes £    £   

REVENUE 3 24,379,893 24,225,167

Cost of sales 16,024,966 16,852,496
GROSS PROFIT 8,354,927 7,372,671

Administrative expenses 5,311,734 5,878,854
3,043,193 1,493,817

Other operating income 4 1,044,147 1,659,513
OPERATING PROFIT 6 4,087,340 3,153,330

Interest receivable and similar income 205,431 185,776
PROFIT BEFORE TAXATION 4,292,771 3,339,106

Tax on profit 7 1,115,937 723,072
PROFIT FOR THE FINANCIAL YEAR 3,176,834 2,616,034

ACM GLOBAL CENTRAL LABORATORY LTD (REGISTERED NUMBER: 03809941)

OTHER COMPREHENSIVE INCOME
for the year ended 31 December 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 3,176,834 2,616,034


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

3,176,834

2,616,034

ACM GLOBAL CENTRAL LABORATORY LTD (REGISTERED NUMBER: 03809941)

STATEMENT OF FINANCIAL POSITION
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 8 - -
Property, plant and equipment 9 2,258,379 1,529,052
Investments 10 2 2
2,258,381 1,529,054

CURRENT ASSETS
Inventories 11 819,837 616,249
Debtors 12 13,848,976 12,986,210
Cash at bank 5,450,282 4,056,059
20,119,095 17,658,518
CREDITORS
Amounts falling due within one year 13 8,091,840 8,309,341
NET CURRENT ASSETS 12,027,255 9,349,177
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,285,636

10,878,231

PROVISIONS FOR LIABILITIES 15 417,052 186,481
NET ASSETS 13,868,584 10,691,750

CAPITAL AND RESERVES
Called up share capital 16 58,630 58,630
Share premium 17 476,501 476,501
Capital redemption reserve 17 30,100 30,100
Retained earnings 17 13,303,353 10,126,519
SHAREHOLDERS' FUNDS 13,868,584 10,691,750

The financial statements were approved and authorised for issue by the director and authorised for issue on 16 May 2025 and were signed by:





K B Babineau - Director


ACM GLOBAL CENTRAL LABORATORY LTD (REGISTERED NUMBER: 03809941)

STATEMENT OF CHANGES IN EQUITY
for the year ended 31 December 2024

Called up Capital
share Retained Share redemption Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1 January 2023 58,630 7,510,485 476,501 30,100 8,075,716

Changes in equity
Total comprehensive income - 2,616,034 - - 2,616,034
Balance at 31 December 2023 58,630 10,126,519 476,501 30,100 10,691,750

Changes in equity
Total comprehensive income - 3,176,834 - - 3,176,834
Balance at 31 December 2024 58,630 13,303,353 476,501 30,100 13,868,584

ACM GLOBAL CENTRAL LABORATORY LTD (REGISTERED NUMBER: 03809941)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2024


1. STATUTORY INFORMATION

ACM Global Central Laboratory Ltd is a private company, limited by shares , registered in England and Wales. 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The accounts have been prepared on a going concern basis on the strength of confirmation of continued support from the ultimate controlling party that they will continue to provide financial support by not seeking repayment of loan accounts due until other creditors have been paid in full, alongside guaranteeing full repayment of amounts loaned by the company to fellow subsidiaries.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 3.17(d);
the requirement of paragraph 33.7.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with members of the group which are wholly owned.

Significant judgements and estimates
In preparing the financial statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.

Critical judgements in applying the company's policies
1. Related party loans
The management judge that the terms of the related party loans are representative of a market rate of interest for similar debt instruments.

2. Goodwill amortisation
Management judge that the goodwill relating to the acquisition of subsidiary companies has a nil recoverable amount and therefore a provision for full impairment is included in these financial statements.

Critical accounting estimates and assumptions
The directors do not consider that any other estimates and assumptions used in the preparation of these financial statements have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover represents services supplied, excluding value added tax. Revenue is recognised to the extent that the company has obtained the right to consideration through its performance and is measured at the fair value of the right to consideration.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, was being amortised evenly over its original estimated useful life of ten years. Impairment losses are recognised to the extent that management judges the carrying amount to exceed the recoverable amount.

ACM GLOBAL CENTRAL LABORATORY LTD (REGISTERED NUMBER: 03809941)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - over the length of the lease
Plant and machinery - 14% - 33% on cost
Furniture, fittings and equipment - 20% on cost
Assets under construction - not provided

Investments in subsidiaries
Investments in subsidiaries are valued at cost less provision for impairment.

Inventories
Stock is valued at the lower of cost and net realisable value.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies
The company has a presentation and functional currency of Pound Sterling (GBP).

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date, unless they are to be settled at a contracted rate, in which case the contracted rate is used. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets acquired under finance lease agreements, including hire purchase agreements, are capitalised and the corresponding liability is included in creditors. Finance lease interest is charged to the income statement on a sum of digits basis over the period of the agreement. Operating lease rentals are charged against profits of the period to which they relate.

Pensions
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

ACM GLOBAL CENTRAL LABORATORY LTD (REGISTERED NUMBER: 03809941)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade, other accounts receivable and payable and loans to related parties.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Debt instruments such as loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised costs using the effective interest method.

Other operating income
Above the line research and development credits are included as other operating income to the extent that they are expected to be repayable in the future.

3. REVENUE

The revenue and profit before taxation are attributable to the one principal activity of the company.

An analysis of revenue by geographical market is given below:

2024 2023
£    £   
United Kingdom 2,231,027 3,199,509
Europe 3,284,040 3,400,720
United States of America 17,947,951 16,713,201
Asia 916,875 911,737
24,379,893 24,225,167

4. OTHER OPERATING INCOME
2024 2023
£    £   
Other operating income 1,044,147 1,659,513

Other operating income includes an 'Above the line research and development credit of £1,039,317 (2023 - £1,653,883).

5. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 5,635,992 5,340,309
Social security costs 637,230 595,861
Other pension costs 496,130 328,899
6,769,352 6,265,069

The average number of employees during the year was as follows:
2024 2023

Laboratory, project and logistics 126 115
Administration and support functions 35 35
161 150

2024 2023
£    £   
Director's remuneration - -

ACM GLOBAL CENTRAL LABORATORY LTD (REGISTERED NUMBER: 03809941)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024


5. EMPLOYEES AND DIRECTORS - continued

The director is remunerated by a parent company of the group.

6. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Hire of plant and machinery 77,118 88,953
Other operating leases 6,556 6,599
Depreciation - owned assets 499,182 578,298
Foreign exchange differences 65,829 438,116
Auditors' remuneration 44,730 63,030
Auditors' remuneration - other services 13,450 8,800
Operating lease property rentals 329,109 326,948

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 940,010 704,153
Adjustments in respect of prior periods (54,644 ) -
Total current tax 885,366 704,153

Deferred tax 230,571 18,919
Tax on profit 1,115,937 723,072

UK corporation tax has been charged at 25% .

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 4,292,771 3,339,106
Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 -
23.520%)

1,073,193

785,358

Effects of:
Adjustments to tax charge in respect of previous periods (54,645 ) -

Permanent timing differences 97,389 (63,405 )
Difference in deferred tax rate - 1,119
not provided for
Total tax charge 1,115,937 723,072

The charge to taxation is reduced due to allowances on research and development expenditure. Research and development expenditure recognised as an expense during the period was £7,438,429 (2023 - £7,387,331).

ACM GLOBAL CENTRAL LABORATORY LTD (REGISTERED NUMBER: 03809941)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024


8. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 344,231
AMORTISATION
At 1 January 2024
and 31 December 2024 344,231
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

9. PROPERTY, PLANT AND EQUIPMENT
Furniture,
Improvements fittings Assets
to Plant and and under
property machinery equipment construction Totals
£    £    £    £    £   
COST
At 1 January 2024 2,031,396 1,931,486 134,158 158,997 4,256,037
Additions 37,271 419,860 12,570 758,808 1,228,509
Disposals - (180,494 ) (105,330 ) - (285,824 )
Reclassification/transfer - 134,155 - (134,155 ) -
At 31 December 2024 2,068,667 2,305,007 41,398 783,650 5,198,722
DEPRECIATION
At 1 January 2024 1,568,284 1,046,518 112,183 - 2,726,985
Charge for year 202,633 289,731 6,818 - 499,182
Eliminated on disposal - (180,494 ) (105,330 ) - (285,824 )
At 31 December 2024 1,770,917 1,155,755 13,671 - 2,940,343
NET BOOK VALUE
At 31 December 2024 297,750 1,149,252 27,727 783,650 2,258,379
At 31 December 2023 463,112 884,968 21,975 158,997 1,529,052

10. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2024
and 31 December 2024 2
NET BOOK VALUE
At 31 December 2024 2
At 31 December 2023 2

ACM GLOBAL CENTRAL LABORATORY LTD (REGISTERED NUMBER: 03809941)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024


10. FIXED ASSET INVESTMENTS - continued

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

ABS Laboratories Holdings Limited
Registered office: 23 Hospital Fields Road, York, YO10 4DZ
Nature of business: Dormant company
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 1 1

ABS Laboratories Limited
Registered office: 23 Hospital Fields Road, York, YO10 4DZ
Nature of business: Dormant company
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 1 1

11. INVENTORIES
2024 2023
£    £   
Raw materials 577,211 306,430
Goods for resale 242,626 309,819
819,837 616,249

12. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 2,383,356 1,733,388
Amounts owed by group undertakings 2,407,716 3,051,562
Other debtors 492 4,578
Tax 1,079,532 925,581
VAT 103,760 27,904
Prepayments and accrued income 1,224,074 1,287,277
7,198,930 7,030,290

Amounts falling due after more than one year:
Amounts owed by group undertakings 6,650,046 5,955,920

Aggregate amounts 13,848,976 12,986,210

ACM GLOBAL CENTRAL LABORATORY LTD (REGISTERED NUMBER: 03809941)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024


13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,463,805 1,485,918
Amounts owed to group undertakings 5,500,002 5,500,002
Social security and other taxes 152,082 149,826
Other creditors 61,609 55,203
Accruals and deferred income 914,342 1,118,392
8,091,840 8,309,341

14. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 471,123 464,190
Between one and five years 978,607 1,279,661
In more than five years - 109,395
1,449,730 1,853,246

15. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 417,052 186,481

Deferred
tax
£   
Balance at 1 January 2024 186,481
Accelerated capital allowances 230,571
Other timing differences
Balance at 31 December 2024 417,052

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
586,300 Ordinary 10p 58,630 58,630

Shares carry equal voting rights and each share also ranks equally in regards to dividend payments or any other distribution, including a distribution arising from the winding up of the company.

17. RESERVES

The retained earnings includes all current and prior period retained profits and losses.

The share premium reserve represents any premiums on the issue of share capital and is non distributable.

The capital redemption reserve represents company shares which have been previously purchased by the company and is non distributable.

ACM GLOBAL CENTRAL LABORATORY LTD (REGISTERED NUMBER: 03809941)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024


18. PENSION COMMITMENTS

The pension cost charge represents contributions payable by the company to the scheme and amounted to £496,130 (2023 - £328,899). The balance outstanding at the year end was £54,767 (2023 - £43,530).

19. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements 397,721 866,170

20. RELATED PARTY DISCLOSURES

The company is a wholly owned subsidiary of ACM Global Central Laboratory Operations Limited. The company has taken advantage of the exemption in FRS 102 Section 33.1A from disclosing transactions with members or investees of the group.

Other related parties
2024 2023
£    £   
Sales 206,552 237,624
Purchases 305,053 595,151
Interest receivable 205,431 185,776
Amount due from/(to) related party within one year (1,494 ) (32,015 )
Amount due from related party falling due after more than one year 6,650,046 5,955,920

Other related parties relate to transactions with and loans to a fellow subsidiary company of the immediate parent company. The loans to this company bear interest at rates between 4% and 5.7% per annum and are denominated in Singapore $.

21. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of ACM Global Central Laboratory Operations Limited.

The parent undertaking of the smallest group for which consolidated accounts are prepared is ACM Global Central Laboratory Operations Ltd of 23 Hospital Fields Road, York, YO10 4DZ.

The parent undertaking of the largest group for which consolidated accounts are prepared is Rochester Regional Health of 100 Kings Highway South, Rochester, New York 14617, a company incorporated in the United States of America.

In the opinion of the director, the company's ultimate parent company and ultimate controlling party is Rochester Regional Health.