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Company No: 10914210 (England and Wales)

BIO MOLECULAR SYSTEMS LIMITED

Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

BIO MOLECULAR SYSTEMS LIMITED

Financial Statements

For the financial year ended 31 August 2024

Contents

BIO MOLECULAR SYSTEMS LIMITED

COMPANY INFORMATION

For the financial year ended 31 August 2024
BIO MOLECULAR SYSTEMS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 August 2024
DIRECTOR John Corbett
REGISTERED OFFICE 22 Chancery Lane
London
WC2A 1LS
United Kingdom
COMPANY NUMBER 10914210 (England and Wales)
AUDITOR Dixon Wilson Audit Services LLP
Statutory Auditor
22 Chancery Lane
London
WC2A 1LS
BIO MOLECULAR SYSTEMS LIMITED

BALANCE SHEET

As at 31 August 2024
BIO MOLECULAR SYSTEMS LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 797 1,455
797 1,455
Current assets
Stocks 4 271,040 301,518
Debtors 5 312,693 174,646
Cash at bank and in hand 750,195 399,356
1,333,928 875,520
Creditors: amounts falling due within one year 6 ( 824,215) ( 436,669)
Net current assets 509,713 438,851
Total assets less current liabilities 510,510 440,306
Net assets 510,510 440,306
Capital and reserves
Called-up share capital 100 100
Profit and loss account 510,410 440,206
Total shareholders' funds 510,510 440,306

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Bio Molecular Systems Limited (registered number: 10914210) were approved and authorised for issue by the Director on 30 May 2025. They were signed on its behalf by:

John Corbett
Director
BIO MOLECULAR SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
BIO MOLECULAR SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Bio Molecular Systems Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 22 Chancery Lane, London, WC2A 1LS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate of exchange ruling at the date of the transaction. Exchange differences are taken to the profit and loss account.

Turnover

Income from sale of goods is recognised when the risks and rewards of ownership of the goods have been transferred to the customer. Ownership is transferred when the goods have been delivered to the customer. Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods to customers.

Taxation

Current tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible assets are stated at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation

Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stock is stated at lower of cost, using the average method, and net realisable value.

Trade and other debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Ordinary share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year 2 2

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 September 2023 7,342 7,342
Additions 693 693
At 31 August 2024 8,035 8,035
Accumulated depreciation
At 01 September 2023 5,887 5,887
Charge for the financial year 1,351 1,351
At 31 August 2024 7,238 7,238
Net book value
At 31 August 2024 797 797
At 31 August 2023 1,455 1,455

4. Stocks

2024 2023
£ £
Stocks 271,040 301,518

5. Debtors

2024 2023
£ £
Trade debtors 140,061 36,221
Amounts owed by group undertakings 30,524 31,661
Amounts owed by parent undertakings 78,749 59,179
Deferred tax asset 35,120 0
Other debtors 28,239 47,585
312,693 174,646

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 763,531 375,968
Taxation and social security 40,863 30,337
Other creditors 19,821 30,364
824,215 436,669

7. Related party transactions

Transactions with group companies

At the balance sheet date, the amount due from group companies totalled £30,254 (2023 - £31,661). This balance is interest free and repayable on demand.

Transactions with company director

During the year, the advances totalling £27,658 were made to the director. The interest charge for the year is £553 (2023 - £28). At the balance sheet date, the amount due from the director totalled £28,239 (2023 - £28).

8. Audit Opinion

The audit report on the full accounts was signed by Steven Wakefield as senior statutory auditor on behalf of Dixon Wilson Audit Services LLP, Statutory Auditor.

The audit report was unqualified and no reference was made to any matters to which the auditor drew attention by way of emphasis.