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REGISTERED NUMBER: 08663730 (England and Wales)















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: K W Foard
Dr L Bridgeman
Dr C Mortimer
N M Reynolds





REGISTERED OFFICE: Unit 2 Cramic Way
Port Talbot
West Glamorgan
SA13 1RU





REGISTERED NUMBER: 08663730 (England and Wales)





ACCOUNTANTS: Baker Knoyle Chartered 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 67,647 98,210

CURRENT ASSETS
Debtors 5 328,060 222,638
Cash at bank and in hand 8,710 10,884
336,770 233,522
CREDITORS
Amounts falling due within one year 6 471,515 319,244
NET CURRENT LIABILITIES (134,745 ) (85,722 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(67,098

)

12,488

PROVISIONS FOR LIABILITIES 12,853 18,660
NET LIABILITIES (79,951 ) (6,172 )

CAPITAL AND RESERVES
Called up share capital 500 500
Capital contribution from
parent 954,235 634,500
Retained earnings (1,034,686 ) (641,172 )
(79,951 ) (6,172 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

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 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 11 October 2024 and were signed on its behalf by:





Dr C Mortimer - Director


HYBRISAN LTD (REGISTERED NUMBER: 08663730)

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

1. STATUTORY INFORMATION

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

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 20% on cost
Plant and machinery etc - 33% on cost and 20% on cost

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 5 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 10,560 524,497 535,057
DEPRECIATION
At 1 September 2023 3,176 433,671 436,847
Charge for year 818 29,745 30,563
At 31 August 2024 3,994 463,416 467,410
NET BOOK VALUE
At 31 August 2024 6,566 61,081 67,647
At 31 August 2023 7,384 90,826 98,210

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 86 104
Other debtors 111,134 62,224
111,220 62,328

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 5,205 5,205
Other debtors 211,635 155,105
216,840 160,310

Aggregate amounts 328,060 222,638

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 128,482 63,414
Taxation and social security 4,267 5,469
Other creditors 338,766 250,361
471,515 319,244

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
£    £   
K W Foard
Balance outstanding at start of year 14,742 14,742
Amounts advanced 25,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 39,742 14,742

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

Dr L Bridgeman
Balance outstanding at start of year 15,772 15,772
Amounts advanced 27,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 42,772 15,772

K Waud
Balance outstanding at start of year 10,000 10,000
Amounts advanced 10,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 20,000 10,000

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.