IRIS Accounts Production v25.1.4.42 SC078368 Board of Directors 1.8.23 31.7.24 31.7.24 the provision of commercial services, including the sale of micro-organisms, microbial identification services to industry and academia and chemical analyses for the environmental and oil and gas sectors. The company is also actively engaged in research and development activities, in particular, the development and commercialisation of a multi-species (bacteria and yeast) toxicity testing kit. false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC0783682023-07-31SC0783682024-07-31SC0783682023-08-012024-07-31SC0783682022-07-31SC0783682022-08-012023-07-31SC0783682023-07-31SC078368ns15:Scotland2023-08-012024-07-31SC078368ns14:PoundSterling2023-08-012024-07-31SC078368ns10:Director12023-08-012024-07-31SC078368ns10:PrivateLimitedCompanyLtd2023-08-012024-07-31SC078368ns10:SmallEntities2023-08-012024-07-31SC078368ns10:AuditExemptWithAccountantsReport2023-08-012024-07-31SC078368ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-31SC078368ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-31SC078368ns10:FullAccounts2023-08-012024-07-31SC07836812023-08-012024-07-31SC078368ns10:Director22023-08-012024-07-31SC078368ns10:Director32023-08-012024-07-31SC078368ns10:Director42023-08-012024-07-31SC078368ns10:Director62023-08-012024-07-31SC078368ns10:Director72023-08-012024-07-31SC078368ns10:CompanySecretary12023-08-012024-07-31SC078368ns10:RegisteredOffice2023-08-012024-07-31SC078368ns10:Director52023-08-012024-07-31SC078368ns5:CurrentFinancialInstruments2024-07-31SC078368ns5:CurrentFinancialInstruments2023-07-31SC078368ns5:Non-currentFinancialInstruments2024-07-31SC078368ns5:Non-currentFinancialInstruments2023-07-31SC078368ns5:ShareCapital2024-07-31SC078368ns5:ShareCapital2023-07-31SC078368ns5:SharePremium2024-07-31SC078368ns5:SharePremium2023-07-31SC078368ns5:RevaluationReserve2024-07-31SC078368ns5:RevaluationReserve2023-07-31SC078368ns5:RetainedEarningsAccumulatedLosses2024-07-31SC078368ns5:RetainedEarningsAccumulatedLosses2023-07-31SC078368ns5:IntangibleAssetsOtherThanGoodwill2023-08-012024-07-31SC078368ns5:PatentsTrademarksLicencesConcessionsSimilar2023-08-012024-07-31SC078368ns5:LandBuildingsns5:OwnedOrFreeholdAssets2023-08-012024-07-31SC078368ns5:LeaseholdImprovements2023-08-012024-07-31SC078368ns5:PlantMachinery2023-08-012024-07-31SC078368ns5:FurnitureFittings2023-08-012024-07-31SC078368ns5:OwnedAssets2023-08-012024-07-31SC078368ns5:OwnedAssets2022-08-012023-07-31SC078368ns5:LeasedAssets2023-08-012024-07-31SC078368ns5:LeasedAssets2022-08-012023-07-31SC078368ns5:PatentsTrademarksLicencesConcessionsSimilar2022-08-012023-07-31SC078368ns5:PatentsTrademarksLicencesConcessionsSimilar2023-07-31SC078368ns5:PatentsTrademarksLicencesConcessionsSimilar2024-07-31SC078368ns5:PatentsTrademarksLicencesConcessionsSimilar2023-07-31SC078368ns5:LandBuildings2023-07-31SC078368ns5:LeaseholdImprovements2023-07-31SC078368ns5:PlantMachinery2023-07-31SC078368ns5:FurnitureFittings2023-07-31SC078368ns5:LandBuildings2023-08-012024-07-31SC078368ns5:LandBuildings2024-07-31SC078368ns5:LeaseholdImprovements2024-07-31SC078368ns5:PlantMachinery2024-07-31SC078368ns5:FurnitureFittings2024-07-31SC078368ns5:LandBuildings2023-07-31SC078368ns5:LeaseholdImprovements2023-07-31SC078368ns5:PlantMachinery2023-07-31SC078368ns5:FurnitureFittings2023-07-31SC078368ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-07-31SC078368ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-08-012024-07-31SC078368ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-07-31SC078368ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-07-31SC078368ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-31SC078368ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-31SC078368ns5:Secured2024-07-31SC078368ns5:Secured2023-07-31
REGISTERED NUMBER: SC078368 (Scotland)


















Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 July 2024

for

NCIMB Limited

NCIMB Limited (Registered number: SC078368)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Report of the Directors 2

Income Statement 4

Balance Sheet 5

Notes to the Financial Statements 7


NCIMB Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: Prof J I Prosser
B R Philpott
Dr. C J Phillips
Dr E Green
K J Knox
Prof A J R Porter





SECRETARY: Mrs F Ewing





REGISTERED OFFICE: Wellheads Place
Dyce
Aberdeen
AB21 7GB





REGISTERED NUMBER: SC078368 (Scotland)





ACCOUNTANTS: JDD Chartered Accountants
19 Hillcroft Road
Banchory
Kincardineshire
AB31 5TF

NCIMB Limited (Registered number: SC078368)

Report of the Directors
for the Year Ended 31 July 2024

The directors present their report with the financial statements of the company for the year ended 31 July 2024.

RESEARCH AND DEVELOPMENT
During the year under review, the company has conducted research and development activities directly related to the provision of new goods and services.

DIRECTORS
The directors set out in the table below have held office during the whole of the period from 1 August 2023 to the date of this report unless otherwise stated.

Other changes in directors holding office are as follows:

J M Jarvis - resigned 8.9.23

The beneficial interests of the directors holding office at 31 July 2024 in the shares of the company, according to the register of directors' interests, were as follows:

31.7.24 1.8.23
A Ordinary shares of £1 each
Prof J I Prosser - -
B R Philpott 8,276 8,276
Dr. C J Phillips - -
Dr E Green - -
K J Knox - -
Prof A J R Porter - -

Ordinary shares of £1 each
Prof J I Prosser 14,714 14,714
B R Philpott 59,403 59,403
Dr. C J Phillips 49,190 49,190
Dr E Green - -
K J Knox - -
Prof A J R Porter - -

B Ordinary Shares shares of 40p each
Prof J I Prosser 12,377 12,377
B R Philpott 6,547 6,547
Dr. C J Phillips - -
Dr E Green - -
K J Knox - -
Prof A J R Porter - -

These directors did not hold any beneficial interests in the following:

Preference shares of £1 each

B Preference shares of £1 each

These directors did not hold any non-beneficial interests in any of the shares of the company.


NCIMB Limited (Registered number: SC078368)

Report of the Directors
for the Year Ended 31 July 2024

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Dr E Green - Director


24 June 2025

NCIMB Limited (Registered number: SC078368)

Income Statement
for the Year Ended 31 July 2024

31.7.24 31.7.23
Notes £    £   

TURNOVER 2,468,285 2,106,362

Cost of sales 1,470,822 1,319,483
GROSS PROFIT 997,463 786,879

Administrative expenses 935,202 1,172,258
OPERATING PROFIT/(LOSS) 4 62,261 (385,379 )

Interest receivable and similar income 24 3,769
62,285 (381,610 )

Interest payable and similar expenses 77,544 49,328
LOSS BEFORE TAXATION (15,259 ) (430,938 )

Tax on loss (171,526 ) (70,834 )
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

156,267

(360,104

)

NCIMB Limited (Registered number: SC078368)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 570 1,007
Tangible assets 6 5,779,021 5,835,957
Investments 7 152,135 152,135
5,931,726 5,989,099

CURRENT ASSETS
Stocks 289,196 272,568
Debtors 8 426,328 559,338
Prepayments and accrued income 159,821 59,194
Cash at bank and in hand 40,765 54,979
916,110 946,079
CREDITORS
Amounts falling due within one year 9 1,178,852 1,007,938
NET CURRENT LIABILITIES (262,742 ) (61,859 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,668,984

5,927,240

CREDITORS
Amounts falling due after more than one
year

10

(737,991

)

(1,028,663

)

PROVISIONS FOR LIABILITIES (93,571 ) (217,422 )
NET ASSETS 4,837,422 4,681,155

CAPITAL AND RESERVES
Called up share capital 1,009,177 1,009,177
Share premium 285,775 285,775
Revaluation reserve 600,338 600,338
Retained earnings 2,942,132 2,785,865
SHAREHOLDERS' FUNDS 4,837,422 4,681,155

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

NCIMB Limited (Registered number: SC078368)

Balance Sheet - continued
31 July 2024


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 24 June 2025 and were signed on its behalf by:





Dr E Green - Director


NCIMB Limited (Registered number: SC078368)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

NCIMB Limited is a private company, limited by shares , registered in Scotland. 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 as modified by the revaluation of certain assets.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of fifteen years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - not provided
Culture collection - not provided
Plant and machinery - at varying rates on cost
Computer software - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

The culture collection is periodically revalued, and if sold there would be capital gains tax payable. However, because the directors believe that it would never be sold, no provision is made for this..

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 on research and development is written off in the year in which it is incurred.


NCIMB Limited (Registered number: SC078368)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Culture collection
Culture collection is not depreciated as the culture samples maintained are based on their ability to generate sales. These samples have been constant over the years and there is no scientific reason for depletion or impairment.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 27 ) .

4. OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) is stated after charging:

31.7.24 31.7.23
£    £   
Depreciation - owned assets 105,520 94,529
Depreciation - assets on hire purchase contracts 62,425 64,375
Patents and licences amortisation 437 534

5. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 August 2023
and 31 July 2024 9,538
AMORTISATION
At 1 August 2023 8,531
Amortisation for year 437
At 31 July 2024 8,968
NET BOOK VALUE
At 31 July 2024 570
At 31 July 2023 1,007

NCIMB Limited (Registered number: SC078368)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

6. TANGIBLE FIXED ASSETS
Freehold Culture Plant and Computer
property collection machinery software Totals
£    £    £    £    £   
COST OR VALUATION
At 1 August 2023 4,543,350 750,000 1,278,697 126,484 6,698,531
Additions 100,009 11,000 - - 111,009
At 31 July 2024 4,643,359 761,000 1,278,697 126,484 6,809,540
DEPRECIATION
At 1 August 2023 - - 736,752 125,822 862,574
Charge for year - - 167,283 662 167,945
At 31 July 2024 - - 904,035 126,484 1,030,519
NET BOOK VALUE
At 31 July 2024 4,643,359 761,000 374,662 - 5,779,021
At 31 July 2023 4,543,350 750,000 541,945 662 5,835,957

Cost or valuation at 31 July 2024 is represented by:

Freehold Culture Plant and Computer
property collection machinery software Totals
£    £    £    £    £   
Valuation in 2002 - 151,158 - - 151,158
Valuation in 2003 - 340,000 - - 340,000
Valuation in 2007 - 250,000 - - 250,000
Cost 4,643,359 19,842 1,278,697 126,484 6,068,382
4,643,359 761,000 1,278,697 126,484 6,809,540

If the Culture Collection had not been revalued it would have been included at the following historical cost:

31.7.24 31.7.23
£    £   
Cost 19,842 8,842

The Culture Collection was valued on a value in use basis on 23 May 2018 by Professor M Goodfellow .

He valued the collection at £750,000 in his capacity as Emeritus Professor of Microbiology at Newcastle University..

The directors do not consider that there has been a diminution in the value of the culture collection since its valuation was confirmed in May 2018.

NCIMB Limited (Registered number: SC078368)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST OR VALUATION
At 1 August 2023
and 31 July 2024 414,627
DEPRECIATION
At 1 August 2023 110,362
Charge for year 62,425
At 31 July 2024 172,787
NET BOOK VALUE
At 31 July 2024 241,840
At 31 July 2023 304,265

7. FIXED ASSET INVESTMENTS

The company has a 0.73% investment in Enterobiotix Ltd, a company carrying out research into faecal microbiota transplant technology. The shares are included in these accounts at cost as the directors believe this is a fair value.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 426,328 517,953
Other debtors - 41,385
426,328 559,338

Included in trade debtors as at 31 July 2024 are factored debts totalling £299,467 (2023 £356,988).

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 222,531 52,211
Hire purchase contracts 47,673 89,102
Trade creditors 423,256 349,962
Taxation and social security 244 (51,186 )
Other creditors 485,148 567,849
1,178,852 1,007,938

NCIMB Limited (Registered number: SC078368)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans 484,235 557,234
Hire purchase contracts 136,770 184,443
Other creditors 116,986 286,986
737,991 1,028,663

11. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Bank loans 706,766 609,445

The bank loans are secured by means of a bond and floating charge over all the assets of the company.

Included in total secured debts as shown above is a liability due in more than one year of £484,235 as at 31 July 2024 (2023 £557,234).