Registration number:
Hello Bio Limited
for the Year Ended 31 December 2024
Pages for filing with Registrar
Hello Bio Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Hello Bio Limited
Company Information
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Directors |
Dr Samantha Jayne Roome Mr James Roy Flanaghan Dr Stephen John Roome |
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Registered office |
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Registered number |
08891750 |
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Accountant |
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Hello Bio Limited
(Registration number: 08891750)
Balance Sheet as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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943 |
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Share premium reserve |
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415,947 |
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Profit and loss account |
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(156,887) |
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Total equity |
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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:
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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
Dr Stephen John Roome
Director
Hello Bio Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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Statutory information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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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
Hello Bio Limited
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
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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
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:
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Improvements to property |
- 25% straight line |
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Office equipment |
- 25% straight line |
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Computer equipment |
- 25% straight line |
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Plant and machinery |
- 20% straight line |
Hello Bio Limited
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
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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)
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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.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Tangible fixed assets |
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Improvements to property |
Office equipment |
Computer equipment |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 January 2024 |
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Additions |
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- |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Hello Bio Limited
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
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Investments |
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2024 |
2023 |
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Investments in subsidiaries |
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Stocks |
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2024 |
2023 |
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Work in progress |
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Stock |
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Debtors: amounts falling due within one year |
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Note |
2024 |
2023 |
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Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
15,146 |
12,990 |
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VAT |
- |
6,314 |
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Prepayments |
17,138 |
20,720 |
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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)
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Creditors |
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Note |
2024 |
2023 |
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Bank loans and overdrafts |
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Trade creditors |
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Corporation tax |
21 |
- |
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Taxation and social security |
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Other creditors |
14,966 |
7,223 |
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Accrued expenses |
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Directors' loan accounts |
314,474 |
349,799 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
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2024 |
2023 |
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Current loans and borrowings |
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CBIL loan |
25,455 |
25,455 |
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Other loan |
18,631 |
19,895 |
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Directors' loan accounts |
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2024 |
2023 |
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Non-current loans and borrowings |
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CBIL Loan |
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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)
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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943.38 |
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943.38 |
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0.04 |
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0.04 |
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Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
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2024 |
2023 |
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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.