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Registered number: 10685524










RENOVOS BIOLOGICS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

 
RENOVOS BIOLOGICS LIMITED
REGISTERED NUMBER: 10685524

BALANCE SHEET
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Intangible assets
 4 
5,668
7,085

Tangible assets
 5 
47,934
1,885

  
53,602
8,970

Current assets
  

Debtors: amounts falling due within one year
 6 
147,234
39,021

Cash at bank and in hand
 7 
152,119
646,676

  
299,353
685,697

Current liabilities
  

Creditors: amounts falling due within one year
 8 
(50,074)
(15,612)

Net current assets
  
 
 
249,279
 
 
670,085

Net assets
  
302,881
679,055


Capital and reserves
  

Called up share capital 
 9 
37
37

Share premium account
  
1,492,918
1,492,918

Profit and loss account
  
(1,190,074)
(813,900)

  
302,881
679,055


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



J A Otter
Director
Date: 9 August 2025

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
RENOVOS BIOLOGICS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

Renovos Biologics Limited is a private company, limited by shares and incorporated in England & Wales. The registered office and principal place of business is 2 Venture Road, Southampton Science Park, Chilworth, Southampton, SO16 7NP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Government grants

Grants are accounted under the accruals model. Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

Page 2

 
RENOVOS BIOLOGICS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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


 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Product development
-
10%
per annum

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
RENOVOS BIOLOGICS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Laboratory equipment
-
20%
per annum
Office equipment
-
20%
per annum
Computer equipment
-
20%
per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2024 - 6).

Page 4

 
RENOVOS BIOLOGICS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

4.


Intangible assets




Product development

£



Cost


At 1 April 2024
14,170



At 31 March 2025

14,170



Amortisation


At 1 April 2024
7,085


Charge for the year on owned assets
1,417



At 31 March 2025

8,502



Net book value



At 31 March 2025
5,668



At 31 March 2024
7,085



Page 5

 
RENOVOS BIOLOGICS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

5.


Tangible fixed assets





Laboratory equipment
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2024
53,655
-
2,786
56,441


Additions
54,227
1,208
-
55,435



At 31 March 2025

107,882
1,208
2,786
111,876



Depreciation


At 1 April 2024
53,655
-
901
54,556


Charge for the year on owned assets
8,885
99
402
9,386



At 31 March 2025

62,540
99
1,303
63,942



Net book value



At 31 March 2025
45,342
1,109
1,483
47,934



At 31 March 2024
-
-
1,885
1,885


6.


Debtors: amounts falling due within one year

2025
2024
£
£


Other debtors
4,202
9,815

Prepayments and accrued income
2,534
-

Tax recoverable
140,498
29,206

147,234
39,021



7.


Cash and cash equivalents

2025
2024
£
£

Cash at bank and in hand
152,119
646,676


Page 6

 
RENOVOS BIOLOGICS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

8.


Creditors: Amounts falling due within one year

2025
2024
£
£

Trade creditors
940
750

Other taxation and social security
-
7,153

Other creditors
2,829
2,709

Accruals and deferred income
46,305
5,000

50,074
15,612



9.


Share capital

2025
2024
£
£
Allotted, called up and fully paid



368,072 (2024 - 368,072) Ordinary shares of £0.0001 each
37
37



10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £11,017 (2024: £11,169). Contributions totalling £2,829 (2024: £2,585) were payable to the fund at the balance sheet date and are included in other creditors.


11.


Commitments under operating leases

At 31 March 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2025
2024
£
£


Not later than 1 year
1,809
983


Page 7