23
28 August 2025
false
false
false
false
true
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2024-01-01
Sage Accounts Production Advanced 2023 - FRS102_2023
300,001
300,001
300,001
xbrli:pure
xbrli:shares
iso4217:GBP
11838025
2024-01-01
2024-12-31
11838025
2024-12-31
11838025
2023-12-31
11838025
2023-01-01
2023-12-31
11838025
2023-12-31
11838025
2022-12-31
11838025
core:Subsidiary1
2024-01-01
2024-12-31
11838025
core:Subsidiary2
2024-01-01
2024-12-31
11838025
bus:OrdinaryShareClass1
2024-01-01
2024-12-31
11838025
bus:Director1
2024-01-01
2024-12-31
11838025
core:LandBuildings
core:ShortLeaseholdAssets
2023-12-31
11838025
core:PlantMachinery
2023-12-31
11838025
core:FurnitureFittings
2023-12-31
11838025
core:LandBuildings
core:ShortLeaseholdAssets
2024-12-31
11838025
core:PlantMachinery
2024-12-31
11838025
core:FurnitureFittings
2024-12-31
11838025
core:LandBuildings
core:ShortLeaseholdAssets
2024-01-01
2024-12-31
11838025
core:PlantMachinery
2024-01-01
2024-12-31
11838025
core:FurnitureFittings
2024-01-01
2024-12-31
11838025
core:WithinOneYear
2024-12-31
11838025
core:WithinOneYear
2023-12-31
11838025
core:ShareCapital
2024-12-31
11838025
core:ShareCapital
2023-12-31
11838025
core:RetainedEarningsAccumulatedLosses
2024-12-31
11838025
core:RetainedEarningsAccumulatedLosses
2023-12-31
11838025
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2024-12-31
11838025
core:CostValuation
core:Non-currentFinancialInstruments
2024-12-31
11838025
core:Non-currentFinancialInstruments
2024-12-31
11838025
core:LandBuildings
core:ShortLeaseholdAssets
2023-12-31
11838025
core:PlantMachinery
2023-12-31
11838025
core:FurnitureFittings
2023-12-31
11838025
bus:SmallEntities
2024-01-01
2024-12-31
11838025
bus:Audited
2024-01-01
2024-12-31
11838025
bus:SmallCompaniesRegimeForAccounts
2024-01-01
2024-12-31
11838025
bus:PrivateLimitedCompanyLtd
2024-01-01
2024-12-31
11838025
bus:FullAccounts
2024-01-01
2024-12-31
11838025
bus:OrdinaryShareClass1
2024-12-31
11838025
bus:OrdinaryShareClass1
2023-12-31
11838025
core:ComputerEquipment
2023-12-31
11838025
core:ComputerEquipment
2024-01-01
2024-12-31
11838025
core:ComputerEquipment
2024-12-31
COMPANY REGISTRATION NUMBER:
11838025
|
FILLETED FINANCIAL STATEMENTS |
|
|
STATEMENT OF FINANCIAL POSITION |
|
31 December 2024
Fixed assets
|
Tangible assets |
5 |
|
708,898 |
1,255,400 |
|
Investments |
6 |
|
300,001 |
– |
|
|
------------- |
------------- |
|
|
1,008,899 |
1,255,400 |
|
|
|
|
|
Current assets
|
Stocks |
51,626 |
|
31,641 |
|
Debtors |
7 |
2,735,198 |
|
1,545,069 |
|
Cash at bank and in hand |
71,591 |
|
– |
|
------------- |
|
------------- |
|
2,858,415 |
|
1,576,710 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
3,847,791 |
|
2,911,861 |
|
------------- |
|
------------- |
|
Net current liabilities |
|
989,376 |
1,335,151 |
|
|
------------- |
------------- |
|
Total assets less current liabilities |
|
19,523 |
(
79,751) |
|
|
|
|
|
|
Provisions |
|
250,686 |
313,850 |
|
|
---------- |
---------- |
|
Net liabilities |
|
(
231,163) |
(
393,601) |
|
|
---------- |
---------- |
|
|
|
|
Capital and reserves
|
Called up share capital |
9 |
|
10 |
10 |
|
Profit and loss account |
10 |
|
(
231,173) |
(
393,611) |
|
|
---------- |
---------- |
|
Shareholder deficit |
|
(
231,163) |
(
393,601) |
|
|
---------- |
---------- |
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
|
STATEMENT OF FINANCIAL POSITION (continued) |
|
31 December 2024
These financial statements were approved by the
board of directors
and authorised for issue on
28 August 2025
, and are signed on behalf of the board by:
Company registration number:
11838025
|
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 31 DECEMBER 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 168 Church Road, Hove, East Sussex, BN3 2DL.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
In accordance with their responsibilities, the directors have considered the appropriateness of the going concern basis for the preparation of the financial statements. For this purpose, the directors have considered the adequacy of the company's cash resources covering the period 12 months ahead of the approval of these financial statements. The directors have reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis in preparing these financial statements.
Consolidation
The entity has taken advantage of the exemption from preparing consolidated financial statements contained in Section 400 of the Companies Act 2006 on the basis that it is a subsidiary undertaking and its immediate parent undertaking is established under the law of an EEA State.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Short leasehold property |
- |
straight line over 10 years
|
|
Plant and machinery |
- |
straight line over 13 years
|
|
Fixtures and fittings |
- |
straight line over 10 years
|
|
Equipment |
- |
straight line over 3 years
|
|
|
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
23
(2023:
23
).
5.
Tangible assets
|
Short leasehold property |
Plant and machinery |
Fixtures and fittings |
Equipment |
Total |
|
£ |
£ |
£ |
£ |
£ |
|
Cost |
|
|
|
|
|
|
At 1 January 2024 |
731,135 |
957,300 |
18,518 |
58,275 |
1,765,228 |
|
Additions |
– |
8,510 |
– |
– |
8,510 |
|
Disposals |
(
1,828) |
(
379,468) |
– |
(
3,234) |
(
384,530) |
|
---------- |
---------- |
--------- |
--------- |
------------- |
|
At 31 December 2024 |
729,307 |
586,342 |
18,518 |
55,041 |
1,389,208 |
|
---------- |
---------- |
--------- |
--------- |
------------- |
|
Depreciation |
|
|
|
|
|
|
At 1 January 2024 |
126,943 |
345,526 |
14,609 |
22,750 |
509,828 |
|
Charge for the year |
72,979 |
220,562 |
3,128 |
10,209 |
306,878 |
|
Disposals |
(
410) |
(
133,028) |
– |
(
2,958) |
(
136,396) |
|
---------- |
---------- |
--------- |
--------- |
------------- |
|
At 31 December 2024 |
199,512 |
433,060 |
17,737 |
30,001 |
680,310 |
|
---------- |
---------- |
--------- |
--------- |
------------- |
|
Carrying amount |
|
|
|
|
|
|
At 31 December 2024 |
529,795 |
153,282 |
781 |
25,040 |
708,898 |
|
---------- |
---------- |
--------- |
--------- |
------------- |
|
At 31 December 2023 |
604,192 |
611,774 |
3,909 |
35,525 |
1,255,400 |
|
---------- |
---------- |
--------- |
--------- |
------------- |
|
|
|
|
|
|
6.
Investments
|
Shares in group undertakings |
|
£ |
|
Cost |
|
|
At 1 January 2024 |
– |
|
Additions |
300,001 |
|
---------- |
|
At 31 December 2024 |
300,001 |
|
---------- |
|
Impairment |
|
|
At 1 January 2024 and 31 December 2024 |
– |
|
---------- |
|
|
|
Carrying amount |
|
|
At 31 December 2024 |
300,001 |
|
---------- |
|
At 31 December 2023 |
– |
|
---------- |
|
|
The registered office of Biosero Limited is 1A Melbourn Street, Royston, England, SG8 7BP and the nature of business is business and domestic software development.
The registered office of Discover Echo UK Ltd is The Courtyard, High Street, Ascot, Berkshire, England, SL5 7HP, and the nature of business is professional, scientific and technical activities.
Subsidiaries, associates and other investments
|
Class of share |
Percentage of shares held |
|
Subsidiary undertakings |
|
|
|
Biosero Limited |
Ordinary |
100 |
|
Discover Echo UK Ltd |
Ordinary |
100 |
|
|
|
7.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Trade debtors |
503,303 |
1,026,153 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
1,869,114 |
159,642 |
|
Other debtors |
362,781 |
359,274 |
|
------------- |
------------- |
|
2,735,198 |
1,545,069 |
|
------------- |
------------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Bank loans and overdrafts |
871,378 |
192,295 |
|
Trade creditors |
89,854 |
1,023,181 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
1,518,485 |
689,548 |
|
Corporation tax |
– |
49,224 |
|
Social security and other taxes |
100,496 |
167,455 |
|
Other creditors |
1,267,578 |
790,158 |
|
------------- |
------------- |
|
3,847,791 |
2,911,861 |
|
------------- |
------------- |
|
|
|
9.
Called up share capital
Authorised share capital
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
|
Ordinary shares of £ 1 each |
10 |
10 |
10 |
10 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
|
Ordinary shares of £ 1 each |
10 |
10 |
10 |
10 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
Ordinary share capital have full rights regarding voting, payment of dividends and distributions.
10.
Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses.
11.
Summary audit opinion
The auditor's report dated
28 August 2025
was
unqualified
.
The senior statutory auditor was
CS Homan FCA
, for and on behalf of
UHY Hacker Young
.
12.
Related party transactions
During the period the company received £312,454 (2023: £34,812) in income from Scienion GmbH, until the company ceased being the parent company.
13.
Controlling party
The immediate parent company was Scienion GmbH, who were registered in Germany, until 2 December 2024. On this date, the immediate and ultimate parent company became BICO Group AB. BICO Group AB is a company incorporated in Sweden. The smallest and large group of undertakings for which group accounts are drawn up are BICO Group AB.