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Registration number: 04382252

Cambridge Bioscience Limited

Filleted Financial Statements

for the Year Ended 31 December 2024

 

Cambridge Bioscience Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 11

 

Cambridge Bioscience Limited

Company Information

Director

Mr Michael Kerins

Registered office

Munro House
Trafalgar Way
Bar Hill
Cambridge
CB23 8SQ

Auditors

TT&W Limited 5 High Green
Great Shelford
Cambridge
CB22 5EG

 

Cambridge Bioscience Limited

(Registration number: 04382252)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

606,331

648,769

Current assets

 

Stocks

5

346,313

363,683

Debtors

6

1,316,659

2,673,464

Cash at bank and in hand

 

1,825,677

1,364,251

 

3,488,649

4,401,398

Creditors: Amounts falling due within one year

7

(1,157,584)

(1,137,909)

Net current assets

 

2,331,065

3,263,489

Total assets less current liabilities

 

2,937,396

3,912,258

Provisions for liabilities

(23,361)

(27,623)

Net assets

 

2,914,035

3,884,635

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

2,913,035

3,883,635

Shareholders' funds

 

2,914,035

3,884,635

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 Profit and Loss Account.

Approved and authorised by the director on 2 May 2025
 

.........................................
Mr Michael Kerins
Director

 

Cambridge Bioscience Limited

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

1

General information

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

The company's registered number is 04382252.

The address of its registered office is:
Munro House
Trafalgar Way
Bar Hill
Cambridge
CB23 8SQ

These financial statements were authorised for issue by the director on 2 May 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 were 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).

There were no departures from this standard.

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.

The financial statements contain information about Cambridge Bioscience Limited as an individual company and do not contain information about the Europa Biosite group, of which the company is a member. Consolidated financial statements are available as disclosed in note 13.

The comparative period in these accounts is the fifteen month period from 1st October 2022 to 31st December 2023 and therefore the the profit and loss amounts are not directly comparable. The reason for changing the year-end was to align with the group companies.

The presentation currency is £ sterling.

 

Cambridge Bioscience Limited

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

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 2 May 2025 was Imran Tayabali BSc FCA, who signed for and on behalf of TT&W Limited.

.........................................

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Cambridge Bioscience Limited

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

Tangible assets

Tangible assets are stated in the balance sheet 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.

The Director has opted to use the cost model of measurement for fixed assets under Financial Reporting Standard 102.

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

Freehold property

2% on cost

Plant and machinery

33% on cost

Property improvements

25% on reducing balance

Motor vehicles

25% on reducing balance

Computer equipment

Variable rates on reducing balance

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods comprises direct materials. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Demo stock is valued at cost. At each reporting date, demo stock over three years old is assessed for impairment. If demo stock is impaired, the carrying amount is reduced to its estimated selling price less costs to sell; the impairment loss is recognised immediately in profit or loss.

 

Cambridge Bioscience Limited

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

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 33 (2023 - 31).

 

Cambridge Bioscience Limited

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

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

751,256

103,021

162,046

13,775

1,030,098

Additions

-

1,584

6,741

-

8,325

At 31 December 2024

751,256

104,605

168,787

13,775

1,038,423

Depreciation

At 1 January 2024

209,099

39,377

120,905

11,948

381,329

Charge for the year

15,026

19,936

15,546

255

50,763

At 31 December 2024

224,125

59,313

136,451

12,203

432,092

Carrying amount

At 31 December 2024

527,131

45,292

32,336

1,572

606,331

At 31 December 2023

542,157

63,644

41,141

1,827

648,769

Included within the net book value of land and buildings above is £527,131 (2023 - £542,157) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

125,888

126,081

Other inventories

220,425

237,602

346,313

363,683

6

Debtors

 

Cambridge Bioscience Limited

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

Current

Note

2024
£

2023
£

Trade debtors

 

1,015,369

919,812

Amounts owed by related parties

10

81,301

54,875

Prepayments

 

91,364

92,962

Other debtors

 

128,625

1,605,815

   

1,316,659

2,673,464

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

642,842

847,898

Taxation and social security

305,399

-

Accruals and deferred income

172,772

290,011

Other creditors

36,571

-

1,157,584

1,137,909

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000

       

9

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

50,039

63,834

Later than one year and not later than five years

40,461

84,400

90,500

148,234

 

Cambridge Bioscience Limited

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

The amount of non-cancellable operating lease payments recognised as an expense during the year was £61,706 (2023 - £74,594).

10

Related party transactions

Advantage is taken of the exemption under Financial Reporting Standard 102 not to disclose transactions entered into between members of a group, where any subsidiary which is a party to the transaction is a wholly owned member.

Director loan arrangements detailed below are repayable on demand and made on an interest-free basis.

 

Cambridge Bioscience Limited

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

Transactions with the director

2024

At 1 January 2024
£

At 31 December 2024
£

Mr Michael Kerins

M Kerins

32,096

32,096

2023

At 1 October 2022
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Mr Michael Kerins

M Kerins

71,152

34,388

(73,444)

32,096

 

Cambridge Bioscience Limited

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

11

Parent and ultimate parent undertaking

The company's immediate parent is Europa Biosite Holding AB, incorporated in Sweden.

 The ultimate parent is Adelis Holding II AB, incorporated in Sweden.

  These financial statements are available upon request from consolidated group accounts headed by Europa Biosite Group AB, which are available for download from the Swedish Companies Registration Office.