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Registration number: 08891750

Hello Bio Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

Pages for filing with Registrar

 

Hello Bio Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 10

 

Hello Bio Limited

Company Information

Directors

Dr Samantha Jayne Roome

Mr James Roy Flanaghan

Dr Stephen John Roome

Registered office

Unit 3 IO Centre, Cabot Park
Moorend Farm Avenue
Avonmouth
Bristol
BS11 0QL

Registered number

08891750

Accountant

Corrigan Accountants Limited 1st Floor
25 King Street
Bristol
BS1 4PB

 

Hello Bio Limited

(Registration number: 08891750)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

33,358

75,347

Investments

5

88

88

 

33,446

75,435

Current assets

 

Stocks

6

287,253

282,122

Debtors

7

298,640

299,989

Cash at bank and in hand

 

93,770

100,577

 

679,663

682,688

Creditors: Amounts falling due within one year

8

(414,448)

(453,591)

Net current assets

 

265,215

229,097

Total assets less current liabilities

 

298,661

304,532

Creditors: Amounts falling due after more than one year

8

(8,484)

(44,529)

Net assets

 

290,177

260,003

Capital and reserves

 

Called up share capital

943

943

Share premium reserve

415,947

415,947

Profit and loss account

(126,713)

(156,887)

Total equity

 

290,177

260,003

 

Hello Bio Limited

(Registration number: 08891750)
Balance Sheet as at 31 December 2024 (continued)

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 10 August 2025 and signed on its behalf by:
 



 

Dr Stephen John Roome

Director

 

Hello Bio Limited

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

1

Statutory information

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

The address of its registered office is:
Unit 3 IO Centre, Cabot Park
Moorend Farm Avenue
Avonmouth
Bristol
BS11 0QL

2

Accounting policies

Summary of significant accounting policies

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The accounts have been prepared on a going concern basis which assumes that the company has sufficient funds to continue to trade for the foreseeable future. The directors have indicated their willingness to continue to support the company and accordingly the accounts have been prepared on the basis that the company is a going concern.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

 

Hello Bio Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

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 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

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Tax

The tax expense for the period comprises 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 income 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.

The current income 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.

Tangible fixed assets

Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible fixed assets includes directly attributable incremental costs incurred in their acquisition and installation.

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:

Improvements to property

- 25% straight line

Office equipment

- 25% straight line

Computer equipment

- 25% straight line

Plant and machinery

- 20% straight line

 

Hello Bio Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Research and development costs

Research and development costs are written off to profit or loss in the year incurred.

Investments

Investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

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

Trade creditors

Trade creditors are recognised at the transaction price.

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 profit and loss account 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.

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.

 

Hello Bio Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

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.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 11).

4

Tangible fixed assets

Improvements to property
£

Office equipment
£

Computer equipment
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2024

111,392

23,214

13,123

212,320

360,049

Additions

-

422

1,122

-

1,544

At 31 December 2024

111,392

23,636

14,245

212,320

361,593

Depreciation

At 1 January 2024

81,824

20,491

7,119

175,268

284,702

Charge for the year

20,037

1,719

3,328

18,449

43,533

At 31 December 2024

101,861

22,210

10,447

193,717

328,235

Carrying amount

At 31 December 2024

9,531

1,426

3,798

18,603

33,358

At 31 December 2023

29,568

2,723

6,004

37,052

75,347

 

Hello Bio Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

5

Investments

2024
£

2023
£

Investments in subsidiaries

88

88

6

Stocks

2024
£

2023
£

Work in progress

24,208

16,434

Stock

263,045

265,688

287,253

282,122

7

Debtors: amounts falling due within one year

Note

2024
£

2023
£

Trade debtors

 

50,048

25,969

Amounts owed by group undertakings

12

216,308

233,996

Other debtors

 

15,146

12,990

VAT

 

-

6,314

Prepayments

 

17,138

20,720

 

298,640

299,989


The balance within 'Amounts owed by group undertakings' is interest free and repayable on demand.

 

Hello Bio Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

8

Creditors

Note

2024
£

2023
£

Bank loans and overdrafts

9

44,086

45,350

Trade creditors

 

26,069

34,032

Corporation tax

 

21

-

Taxation and social security

 

11,007

13,737

Other creditors

 

14,966

7,223

Accrued expenses

 

3,825

3,450

Directors' loan accounts

9

314,474

349,799

 

414,448

453,591

Due after one year

 

Loans and borrowings

9

8,484

44,529

9

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

CBIL loan

25,455

25,455

Other loan

18,631

19,895

Directors' loan accounts

314,474

349,799

358,560

395,149

2024
£

2023
£

Non-current loans and borrowings

CBIL Loan

8,484

44,529


The CBIL loan of £140,000 was taken out on 15 April 2020 with an interest rate of 2.9% per annumm repayable over 66 months. The loan is a government backed unsecured loan.

The directors' loan and the other loan are unsecured, interest free and repayable on demand.

 

Hello Bio Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

10

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £0.01 each

94,338

943.38

94,338

943.38

Preference of £0.01 each

4

0.04

4

0.04

 

94,342

943

94,342

943

11

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

225,910

55,682

12

Related party transactions

The company has taken advantage of the exemption available under FRS 102 Section 1A to not disclose transactions with wholly-owned group members.