| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 |
| FOR |
| HYBRISAN LTD |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 |
| FOR |
| HYBRISAN LTD |
| HYBRISAN LTD (REGISTERED NUMBER: 08663730) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| HYBRISAN LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Orbit Business Centre |
| Merthyr Tydfil |
| CF48 1DL |
| HYBRISAN LTD (REGISTERED NUMBER: 08663730) |
| BALANCE SHEET |
| 31 AUGUST 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| PROVISIONS FOR LIABILITIES |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital contribution from |
| parent |
| Retained earnings | ( |
) | ( |
) |
| ( |
) | ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| HYBRISAN LTD (REGISTERED NUMBER: 08663730) |
| BALANCE SHEET - continued |
| 31 AUGUST 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| HYBRISAN LTD (REGISTERED NUMBER: 08663730) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 1. | STATUTORY INFORMATION |
| Hybrisan Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| 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. |
| Research and development |
| Expenditure relating to research into new products is written off to profit and loss account in the year that it is incurred. |
| Costs directly related to the development of new products are capitalised as intangible assets only when all technical uncertainties have been overcome, the costs incurred in the development can be measured reliably and the company believes it likely that economic benefits will be derived from the new product. |
| Such costs incurred in the development would include materials and services, and payroll related costs of employees directly involved in the process. |
| 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. |
| HYBRISAN LTD (REGISTERED NUMBER: 08663730) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Going concern |
| Further losses have been incurred this year, while products continue to be developed towards accreditation, which is expected to imminent. The process of the main product moving towards accreditation was delayed due to the impact of the Covid 19 pandemic. The losses which continue to be incurred, had been identified in forecasts prepared by the company, and were not, therefore, unexpected. |
| The company continues to be reliant on the support of its parent company, while the directors seek additional investment to allow the further development and accreditation of products, and to ultimately bring the products to market. |
| The directors have prepared these accounts on a going concern basis, which assumes the company will be successful in securing further investment funding, and will be able to meet its liabilities as they fall due for at least 12 months from the date of approval of these financial statements. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2023 |
| and 31 August 2024 |
| DEPRECIATION |
| At 1 September 2023 |
| Charge for year |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| 5. | DEBTORS |
| 2024 | 2023 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Other debtors |
| HYBRISAN LTD (REGISTERED NUMBER: 08663730) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 5. | DEBTORS - continued |
| 2024 | 2023 |
| £ | £ |
| Amounts falling due after more than one year: |
| Amounts owed by group undertakings |
| Other debtors |
| Aggregate amounts |
| Other debtors falling due after more than one year is a deferred tax debtor. |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Other loan | 175,000 | 175,000 |
| The other loan is secured via a fixed and floating charge over all assets of the company. |
| 8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 August 2024 and 31 August 2023: |
| 2024 | 2023 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| HYBRISAN LTD (REGISTERED NUMBER: 08663730) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| 9. | ULTIMATE CONTROLLING PARTY |
| The company is a 100% subsidiary of Universal Synergistic Holdings Ltd. |
| 10. | GOING CONCERN |
| We refer you to the comments made on going concern, in the accounting policies section of these financial statements. |