KBIOSYSTEMS LIMITED

Company Registration Number:
02389004 (England and Wales)

Unaudited abridged accounts for the year ended 30 November 2024

Period of accounts

Start date: 01 December 2023

End date: 30 November 2024

KBIOSYSTEMS LIMITED

Contents of the Financial Statements

for the Period Ended 30 November 2024

Balance sheet
Notes

KBIOSYSTEMS LIMITED

Balance sheet

As at 30 November 2024


Notes

2024

2023


£

£
Fixed assets
Intangible assets: 3 71,000 0
Tangible assets: 4 150,000 303,000
Total fixed assets: 221,000 303,000
Current assets
Stocks: 1,215,000 1,087,000
Debtors:   433,000 438,000
Cash at bank and in hand: 680,000 489,000
Total current assets: 2,328,000 2,014,000
Creditors: amounts falling due within one year:   (537,000) (391,000)
Net current assets (liabilities): 1,791,000 1,623,000
Total assets less current liabilities: 2,012,000 1,926,000
Creditors: amounts falling due after more than one year:   (124,000) (232,000)
Total net assets (liabilities): 1,888,000 1,694,000
Capital and reserves
Called up share capital: 58,000 58,000
Profit and loss account: 1,830,000 1,636,000
Shareholders funds: 1,888,000 1,694,000

The notes form part of these financial statements

KBIOSYSTEMS LIMITED

Balance sheet statements

For the year ending 30 November 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 21 August 2025
and signed on behalf of the board by:

Name: James Mills
Status: Director

The notes form part of these financial statements

KBIOSYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

Turnover policy

Revenue is measured as the fair value of the consideration received or receivable for goods and services supplied to customers, after deducting sales discounts and value-added taxes, based on the consideration specified in the contract. Revenue is recognised at a point in time for standard revenue transactions when control of the goods provided is transferred to the customer according to the International Commercial Terms of each contract. Separate provision is made for returns and in the few instances where rebates are provided. Under IFRS 15 – Revenue from Contracts with Customers, each customer contract is assessed to identify the performance obligations and for certain service and maintenance contracts, revenue is recognised in relation to these performance obligations as the services are performed in line with the contractual terms. An assessment of the timing of revenue recognition is made for each performance obligation.

Tangible fixed assets and depreciation policy

Tangible fixed assets are stated at historic purchase cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use. Depreciation is calculated so as to write down the cost of the tangible fixed assets, less estimated residual value, over their estimated economic lives on a straight line basis. Depreciation rates are as follows: Leasehold improvements 12.5%, or the remaining life of the lease. Plant and machinery 10%-33%. Assets in the course of construction are carried at cost, less any recognised impairment loss. Cost includes professional fees and, for qualifying assets, borrowing costs capitalised. Depreciation for these assets commences when the assets are ready for their intended use.

Intangible fixed assets and amortisation policy

Software, know-how and design costs are classified as intangible assets and measured initially at purchase cost. Amortisation is charged on a straight line basis over their estimated useful lives, which are deemed to be 3 years. Expenditure on research activities is recognised as an expense in the period in which it is incurred. An internally generated intangible asset arising from the Company’s product development expenditure is recognised only if all of the following criteria are demonstrable: The technical feasibility of completing the intangible asset so that it will be available for use or sale; The intention to complete the intangible asset and use or sell it; The ability to use the intangible asset or to sell it; The way in which the intangible asset will generate probable future economic benefits; The availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset; and The ability to measure reliably the expenditure attributable to the intangible asset during its development. Where no internally generated intangible asset can be recognised, development expenditure is recognised as an expense in the period in which it is incurred. All expenditure on the registration, renewal and maintenance of patents and trademarks is written off to the income statement as incurred.

Valuation and information policy

Stocks are stated at the lower of cost and net realisable value. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Cost is calculated using the weighted average method. Net realisable value represents the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. Where necessary, provision is made for obsolete, slow moving and defective stocks.

Other accounting policies

Leases The Company recognises a right of use asset and a lease liability at the lease commencement date. The right of use asset is initially measured at cost, being the initial amount of the lease liability adjusted for any lease payments made at or before commencement date. Lease liabilities are recorded at the present value of future lease payments. Leases are discounted at the Company’s incremental borrowing rate, being the rate that the Company would have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic environment with similar terms and conditions. Right of use assets are depreciated on a straight line basis over the lease term, or useful life if shorter. Interest is recognised on the lease liability, resulting in a higher finance cost in the earlier years of the lease term. Lease payments relating to low value assets or to short term leases are recognised as an expense on a straight line basis over the lease term. Short term leases are those with 12 months or less duration. Low value assets are those below a cost of £4,000. Pension contributions The Company operates a defined contribution scheme for its employees. The pension costs charged in the financial statements represent the contributions payable by the Company during the year. Taxation Current tax is based on taxable profit for the period. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other periods and it further excludes items that are never taxable or deductible. The Company’s liability for current tax is calculated using tax rates that are relevant to the period. Deferred tax is the tax expected to be payable or recoverable on differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit, and is accounted for using the balance sheet liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised. Such assets and liabilities are not recognised if the temporary difference arises from goodwill or from the initial recognition (other than a business combination) of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. Deferred tax is calculated at the tax rates which have been enacted or substantively enacted by the balance sheet date and are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is recognised in the income statement, except when it relates to items recognised directly to other comprehensive income or directly to equity. In this case, the deferred tax is also recognised in other comprehensive income or directly in equity, respectively. Financial Instruments Financial assets and liabilities are recognised in the Company's balance sheet when the Company becomes a part to the contractual provisions of the instrument. Trade and other receivables are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provisions for impairment. A provision for impairment of trade receivables 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. Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short term highly liquid investments with original maturities of three months of less and bank overdrafts. Trade and other payables are not interest bearing and are initially recognised at fair value and subsequently held at amortised cost.

KBIOSYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2024

2. Employees

2024 2023
Average number of employees during the period 30 39

KBIOSYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2024

3. Intangible Assets

Total
Cost £
At 01 December 2023 0
Additions 5,000
Transfers 74,000
At 30 November 2024 79,000
Amortisation
At 01 December 2023 0
Charge for year 8,000
At 30 November 2024 8,000
Net book value
At 30 November 2024 71,000
At 30 November 2023 0

KBIOSYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2024

4. Tangible Assets

Total
Cost £
At 01 December 2023 1,248,000
Additions 20,000
Transfers (74,000)
At 30 November 2024 1,194,000
Depreciation
At 01 December 2023 945,000
Charge for year 99,000
At 30 November 2024 1,044,000
Net book value
At 30 November 2024 150,000
At 30 November 2023 303,000

KBIOSYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2024

5. Related party transactions

The Company has taken advantage of the exemption in FRS101 not to disclose transactions with wholly owned subsidiaries of the Porvair plc group.