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REGISTERED NUMBER: 06929441 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

REGENESIS UK LIMITED

REGENESIS UK LIMITED (REGISTERED NUMBER: 06929441)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 8


REGENESIS UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Ms A K Dickerson
C Graham
G Leonard
T Wilson
S B Wilson
M J Wilson
M Carboni





SECRETARY: Ms A K Dickerson





REGISTERED OFFICE: Cambridge House
Henry Street
Bath
BA1 1BT





REGISTERED NUMBER: 06929441 (England and Wales)





AUDITORS: Baker Tilly Mooney Moore
Statutory Auditors
17 Clarendon Road
Belfast
BT1 3BG

REGENESIS UK LIMITED (REGISTERED NUMBER: 06929441)

BALANCE SHEET
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 78,891 112,598

CURRENT ASSETS
Stocks 729,289 660,375
Debtors 5 950,234 733,863
Cash at bank 374,950 893,053
2,054,473 2,287,291
CREDITORS
Amounts falling due within one year 6 391,562 600,191
NET CURRENT ASSETS 1,662,911 1,687,100
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,741,802

1,799,698

CREDITORS
Amounts falling due after more than one
year

7

(395,248

)

(453,090

)

PROVISIONS FOR LIABILITIES 9 (10,726 ) (17,588 )
NET ASSETS 1,335,828 1,329,020

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Capital contribution reserve 429,414 429,414
Retained earnings 905,414 898,606
SHAREHOLDERS' FUNDS 1,335,828 1,329,020

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 5 May 2025 and were signed on its behalf by:





Ms A K Dickerson - Director


REGENESIS UK LIMITED (REGISTERED NUMBER: 06929441)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Regenesis UK Limited 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Functional and presentational currency
The company's functional and presentational currency is pounds sterling (£).

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 wholly owned subsidiaries within the group.

Significant judgements and estimates
Carrying value of stock

Stock represents goods for resale and is valued at the lower of cost and net realisable value. Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs necessary to make the sale. Provisions are made for obsolete and slow moving stock based on current and historical trading experience and knowledge of the product.

At the year end, a provision of £45,244 (2023: £83,718) has been made in respect of stock held.

Recoverability of Debtors

Estimates are made in respect of the recoverable value of trade debtors. When assessing the level of provisions required, factors including current trading experience, historical experience and the ageing profile of debtors are considered.

REGENESIS UK LIMITED (REGISTERED NUMBER: 06929441)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The following criteria must also be met before revenue is recognised:

Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- the company has transferred the significant risks and rewards of ownership to the buyer;
- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- is it probable that the company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the cost incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Improvements to Property - Straight Line over 8 Years
Fixtures & Fittings - Straight Line over 7 Years
Office Equipment - 20% Straight Line
Computer Equipment - 20% to 33% Straight Line
Motor Vehicles - 20% Straight Line

The assets residual values, useful lives, and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains or losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and Loss Account.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making allowance for obsolete and slow moving items. Cost is based on the weighted average cost method.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying value is reduced to it's selling price less costs to complete and sell. The impairment loss is recognised immediately in profit and loss.

REGENESIS UK LIMITED (REGISTERED NUMBER: 06929441)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
All financial instruments of the company are considered to meet the definition of basic financial instruments.

- Short term debtors and creditors

Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account.

- Cash and cash equivalents

Cash and cash equivalents comprise cash at bank.

- Loans and borrowings

Loans which are basic financial instruments are initially recorded at the present value of future payments discounted at a market rate of interest for a similar loan. Subsequently, they are measured at amortised cost using the effective interest rate method. Loans that are payable within one year are not discounted.

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.

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.

Foreign currencies
Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction.

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Exchange differences are taken into account in arriving at the operating result.

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.

Operating leases
Rentals paid under operating leases are charged to the Profit and Loss account on a straight line basis over the lease term.

REGENESIS UK LIMITED (REGISTERED NUMBER: 06929441)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures,
to fittings Motor Computer
property & equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2024
and 31 December 2024 50,069 10,927 110,737 24,324 196,057
DEPRECIATION
At 1 January 2024 7,823 5,963 51,177 18,496 83,459
Charge for year 6,259 1,566 22,153 3,729 33,707
At 31 December 2024 14,082 7,529 73,330 22,225 117,166
NET BOOK VALUE
At 31 December 2024 35,987 3,398 37,407 2,099 78,891
At 31 December 2023 42,246 4,964 59,560 5,828 112,598

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 757,721 492,746
Amounts owed by group undertakings 61,116 137,668
Other debtors 131,397 103,449
950,234 733,863

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 6,230 9,411
Amounts owed to group undertakings 173,552 164,279
Taxation and social security - 62,233
Other creditors 211,780 364,268
391,562 600,191

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Other creditors 395,248 453,090



REGENESIS UK LIMITED (REGISTERED NUMBER: 06929441)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.24 31.12.23
£    £   
Within one year 41,000 41,000
Between one and five years 164,000 164,000
In more than five years 47,833 88,833
252,833 293,833

During the year, the company charged £41,000 to the profit and loss account in respect of leasing arrangements.

9. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax 10,726 17,588

Deferred
tax
£   
Balance at 1 January 2024 17,588
Credit to Income Statement during year (6,862 )
Balance at 31 December 2024 10,726

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
1,000 Ordinary £1 1,000 1,000

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Joanne Small (Senior Statutory Auditor)
for and on behalf of Baker Tilly Mooney Moore

12. PENSION COMMITMENTS

The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions payable to the pension scheme are charged to the profit and loss account in the period to which they relate. The charge for 2024 was £36,254 (2023: £24,760). At the balance sheet date, contributions of £811 ( 2023: £1,733) were payable to the fund.

13. RELATED PARTY DISCLOSURES

No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 33.

REGENESIS UK LIMITED (REGISTERED NUMBER: 06929441)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


14. POST BALANCE SHEET EVENTS

After the year end the Group implemented a restructuring plan involving the closure of the immediate parent company in the Republic of Ireland including it's Italian branch and the opening of a new Italian branch of Regenesis UK Limited. The impact of this restructuring is yet to be determined.

15. ULTIMATE CONTROLLING PARTY

The immediate parent company is Regenesis Bioremediation Products Ltd, registered in the Republic of Ireland.

The ultimate parent company and ultimate controlling party is Regenesis Bioremediation Products Inc, a
company incorporated in the USA. It's principal place of business is 1011 Calle Sombra, San Clemente, CA
92673, USA.

The largest group in which the results of this company are consolidated is that headed by Regenesis Bioremediation Products Inc, a company registered in USA. These financial statements are not available to the public.