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Registration number: 05290766

Bionetics Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Bionetics Ltd

Contents

Company Information

1

Statement of financial position

2

Notes to the Unaudited Financial Statements

3 to 8

 

Bionetics Ltd

Company Information

Director

Mrs A Pilkington

Registered office

Bryony Cottage
High Street
Fincham
Norfolk
PE33 9EL

Accountants

Hayhow & Co
Chartered Certified Accountants & Business Advisers19 King Street
King's Lynn
Norfolk
PE30 1HB

 

Bionetics Ltd

(Registration number: 05290766)
Statement of financial position as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

5

3,519

4,317

Current assets

 

Debtors

6

-

1,520

Cash at bank and in hand

 

2,811

6,015

 

2,811

7,535

Creditors: Amounts falling due within one year

7

(7,560)

(2,314)

Net current (liabilities)/assets

 

(4,749)

5,221

Total assets less current liabilities

 

(1,230)

9,538

Creditors: Amounts falling due after more than one year

7

(10,844)

(12,604)

Net liabilities

 

(12,074)

(3,066)

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

(13,074)

(4,066)

Shareholders' deficit

 

(12,074)

(3,066)

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of comprehensive income.

Approved and authorised by the director on 10 June 2025
 

.........................................
Mrs A Pilkington
Director

 

Bionetics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Bryony Cottage
High Street
Fincham
Norfolk
PE33 9EL

These financial statements were authorised for issue by the director on 10 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. There is a shareholders deficit of £12,072 on the balance sheet, however the director is confident that the company will continue to trade.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

 

Bionetics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer Equipment

25% straight line

Furniture, Fixtures and Equipment

Fully depreciated

Office Equipment

Fully depreciated

Outbuilding

10% Straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website development

Fully depreciated

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 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 receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Bionetics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 2).

 

Bionetics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 April 2024

14,883

14,883

At 31 March 2025

14,883

14,883

Amortisation

At 1 April 2024

14,883

14,883

At 31 March 2025

14,883

14,883

Carrying amount

At 31 March 2025

-

-

5

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 April 2024

6,547

11,601

5,857

5,235

At 31 March 2025

6,547

11,601

5,857

5,235

Depreciation

At 1 April 2024

2,405

11,538

5,745

5,235

Charge for the year

655

31

112

-

At 31 March 2025

3,060

11,569

5,857

5,235

Carrying amount

At 31 March 2025

3,487

32

-

-

At 31 March 2024

4,142

63

112

-

 

Bionetics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Total
£

Cost or valuation

At 1 April 2024

29,240

At 31 March 2025

29,240

Depreciation

At 1 April 2024

24,923

Charge for the year

798

At 31 March 2025

25,721

Carrying amount

At 31 March 2025

3,519

At 31 March 2024

4,317

 

Bionetics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Debtors

Current

2025
£

2024
£

Other debtors

-

1,520

 

-

1,520

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Trade creditors

 

689

1,002

Amounts due to related parties

6,180

-

Social security and other taxes

 

107

582

Accruals

 

584

730

 

7,560

2,314

Due after one year

 

Loans and borrowings

10,844

12,604

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000

       

Each share is entitled to one vote in any circumstances and each share is also entitled pari passu to dividend payments or any other distribution, including a distribution arising from a winding up of the company.