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Company No: 03530351 (England and Wales)

SCI-LAB ANALYTICAL LIMITED

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

SCI-LAB ANALYTICAL LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

SCI-LAB ANALYTICAL LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
SCI-LAB ANALYTICAL LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 177,255 194,111
177,255 194,111
Current assets
Stocks 440,751 378,203
Debtors 4 515,967 1,369,890
Cash at bank and in hand 264,464 235,114
1,221,182 1,983,207
Creditors: amounts falling due within one year 5 ( 1,225,578) ( 630,026)
Net current (liabilities)/assets (4,396) 1,353,181
Total assets less current liabilities 172,859 1,547,292
Provision for liabilities ( 8,490) ( 12,830)
Net assets 164,369 1,534,462
Capital and reserves
Called-up share capital 100 100
Profit and loss account 164,269 1,534,362
Total shareholders' funds 164,369 1,534,462

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Sci-Lab Analytical Limited (registered number: 03530351) were approved and authorised for issue by the Board of Directors on 29 May 2025. They were signed on its behalf by:

Gregory Molter
Director
SCI-LAB ANALYTICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
SCI-LAB ANALYTICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 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

Sci-Lab Analytical 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 Unit D Tarvin Sands Mill Lane, Tarvin, Chester, CH3 8JF, 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 £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

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 fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on either a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Plant and machinery 15 % reducing balance
Fixtures and fittings 15 % reducing balance

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 11 12

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Fixtures and fittings Total
£ £ £ £
Cost
At 01 January 2024 177,487 10,969 29,519 217,975
Additions 2,302 0 2,144 4,446
Disposals 0 0 ( 2,039) ( 2,039)
At 31 December 2024 179,789 10,969 29,624 220,382
Accumulated depreciation
At 01 January 2024 4,437 7,792 11,635 23,864
Charge for the financial year 17,957 446 2,636 21,039
Disposals 0 0 ( 1,776) ( 1,776)
At 31 December 2024 22,394 8,238 12,495 43,127
Net book value
At 31 December 2024 157,395 2,731 17,129 177,255
At 31 December 2023 173,050 3,177 17,884 194,111

4. Debtors

2024 2023
£ £
Trade debtors 301,627 325,462
Amounts owed by Group undertakings 189,498 400,000
Prepayments and accrued income 17,194 229,663
VAT recoverable 7,648 0
Corporation tax 0 25,267
Other debtors 0 389,498
515,967 1,369,890

Amounts owed by Group undertakings are repayable on demand and do not bear interest.

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 42,651 369,218
Amounts owed to Group undertakings 905,000 0
Accruals and deferred income 151,341 237,600
Taxation and social security 125,825 23,208
Other creditors 761 0
1,225,578 630,026

There are no amounts included above in respect of which any security has been given by the small entity.

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

6. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 16,250 16,250
between one and five years 50,104 66,354
66,354 82,604

7. Related party transactions

Transactions with owners holding a participating interest in the entity

Sci-Lab Analytical Limited has taken the exemption in Section 1AC.35 of FRS102 from disclosing related party transactions with 100% owned group companies.

Other related party transactions

During the accounting period, loan balances held between Sci-Lab Analytical Limited and other companies under common control totalling £350,000 were written off.

8. Ultimate controlling party

Parent Company:

AAG UK Incorporated
Corporation Trust Center
1209 Orange St
Wilmington
New Castle
Delaware
19801