| REGISTERED NUMBER: |
| Strategic Report, Report of the Director and |
| Financial Statements |
| for the Year Ended 31 March 2025 |
| for |
| V.H. Bio Limited |
| REGISTERED NUMBER: |
| Strategic Report, Report of the Director and |
| Financial Statements |
| for the Year Ended 31 March 2025 |
| for |
| V.H. Bio Limited |
| V.H. Bio Limited (Registered number: 02582192) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2025 |
| Page |
| Company Information | 1 |
| Strategic Report | 2 |
| Report of the Director | 3 |
| Report of the Independent Auditors | 4 |
| Income Statement | 7 |
| Other Comprehensive Income | 8 |
| Balance Sheet | 9 |
| Statement of Changes in Equity | 10 |
| Cash Flow Statement | 11 |
| Notes to the Cash Flow Statement | 12 |
| Notes to the Financial Statements | 13 |
| V.H. Bio Limited |
| Company Information |
| for the Year Ended 31 March 2025 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| Chartered Accountants and Statutory Auditors |
| Kepier House |
| Belmont Business Park |
| Durham |
| DH1 1TW |
| V.H. Bio Limited (Registered number: 02582192) |
| Strategic Report |
| for the Year Ended 31 March 2025 |
| The director presents her strategic report for the year ended 31 March 2025. |
| Review of Business |
| The business exceeded expectations for the financial year finishing 18.6% higher than forecast and 8.4% growth on turnover compared to the previous year (2025 : £12.2m; 2024 : £11.2m). |
| Most of the growth came from the major product group which accounts for 88% of the total product sales with a 10% year on year growth; the growth came from new product sales and new customers. |
| There was some decline in other product groups; due to changing markets, changes to global guidelines, strong competition. |
| The company was successful on all the objectives, obtaining and maintaining all the regulatory accreditations it requires to operate. Maintained the majority market share with exceptional customer service and keeping a strong focus on support and education. |
| Principal Risks and Uncertainties |
| The contracts for distribution with our supply partners is key to the business, maintaining these relationships and meeting their obligations and expectations in-line with our own objectives. |
| Competition is a significant risk to the business, maintaining the market share is key, whilst trying to develop new markets. |
| We believe we can mitigate these risks and uncertainties by maintaining customer and partner relationships, providing exceptional support, knowledge and education. |
| ON BEHALF OF THE BOARD: |
| V.H. Bio Limited (Registered number: 02582192) |
| Report of the Director |
| for the Year Ended 31 March 2025 |
| The director presents her report with the financial statements of the company for the year ended 31 March 2025. |
| PRINCIPAL ACTIVITY |
| The principal activity of the company in the year under review was that of importation and distribution of laboratory equipment and consumables. |
| DIVIDENDS |
| The total distribution of dividends for the year ended 31 March 2025 will be £186,800 (2024: £136,800). |
| DIRECTOR |
| STATEMENT OF DIRECTOR'S RESPONSIBILITIES |
| The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations. |
| Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless she is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to: |
| - | select suitable accounting policies and then apply them consistently; |
| - | make judgements and accounting estimates that are reasonable and prudent; |
| - | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
| The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable her to ensure that the financial statements comply with the Companies Act 2006. She is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
| STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
| So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and she has taken all the steps that she ought to have taken as a director in order to make herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
| AUDITORS |
| The auditors, Clive Owen LLP, are deemed to be re-appointed under section 487(2) of the Companies Act 2006. |
| ON BEHALF OF THE BOARD: |
| Report of the Independent Auditors to the Members of |
| V.H. Bio Limited |
| Opinion |
| We have audited the financial statements of V.H. Bio Limited (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
| In our opinion the financial statements: |
| - | give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended; |
| - | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
| - | have been prepared in accordance with the requirements of the Companies Act 2006. |
| Basis for opinion |
| We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
| Conclusions relating to going concern |
| In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
| Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
| Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report. |
| Other information |
| The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon. |
| Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
| In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
| Opinions on other matters prescribed by the Companies Act 2006 |
| In our opinion, based on the work undertaken in the course of the audit: |
| - | the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| - | the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements. |
| Report of the Independent Auditors to the Members of |
| V.H. Bio Limited |
| Matters on which we are required to report by exception |
| In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director. |
| We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
| - | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
| - | the financial statements are not in agreement with the accounting records and returns; or |
| - | certain disclosures of director's remuneration specified by law are not made; or |
| - | we have not received all the information and explanations we require for our audit. |
| Responsibilities of director |
| As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
| In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so. |
| Report of the Independent Auditors to the Members of |
| V.H. Bio Limited |
| Auditors' responsibilities for the audit of the financial statements |
| Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
| The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
| Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. |
| Our audit must be alert to the risk of manipulation of the financial statements and seek to understand the incentives and opportunities for management to achieve this. |
| We undertook the following procedures to identify and respond to these risks of non-compliance: |
| - Understanding the key legal and regulatory frameworks that are applicable to the Company. We communicated identified laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit. We determined the most significant of these to be financial reporting legislation, taxation legislation, health & safety, product quality and employment law. |
| - Enquiry of directors and management as to policies and procedures to ensure compliance and any known instances of non-compliance. |
| - Review of board minutes and correspondence with regulators. |
| - Enquiry of directors and management as to areas of the financial statements susceptible to fraud and how these risks are managed. |
| - Challenging management on key estimates, assumptions and judgements made in the preparation of the financial statements. The key areas of uncertainty are disclosed in the accounting policies. |
| - Identifying and testing unusual journal entries, with a particular focus on manual journal entries. |
| Through these procedures, we did not become aware of actual or suspected non-compliance. |
| We planned and performed our audit in accordance with auditing standards but owing to the inherent limitations of procedures required in these areas, there is an unavoidable risk that we may not have detected a material misstatement in the accounts. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve concealment, collusion, forgery, misrepresentations, or override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. |
| A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
| Use of our report |
| This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
| for and on behalf of |
| Chartered Accountants and Statutory Auditors |
| Kepier House |
| Belmont Business Park |
| Durham |
| DH1 1TW |
| V.H. Bio Limited (Registered number: 02582192) |
| Income Statement |
| for the Year Ended 31 March 2025 |
| 2025 | 2024 |
| as restated |
| Notes | £ | £ |
| TURNOVER | 3 |
| Cost of sales | ( |
) | ( |
) |
| GROSS PROFIT |
| Administrative expenses | ( |
) | ( |
) |
| 1,581,940 | 1,242,044 |
| Other operating income |
| OPERATING PROFIT | 5 |
| Interest receivable and similar income |
| 1,922,315 | 1,510,302 |
| Interest payable and similar expenses | 6 | ( |
) |
| PROFIT BEFORE TAXATION |
| Tax on profit | 7 | ( |
) | ( |
) |
| PROFIT FOR THE FINANCIAL YEAR |
| V.H. Bio Limited (Registered number: 02582192) |
| Other Comprehensive Income |
| for the Year Ended 31 March 2025 |
| 2025 | 2024 |
| as restated |
| Notes | £ | £ |
| PROFIT FOR THE YEAR |
| OTHER COMPREHENSIVE INCOME | - | - |
| TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
| V.H. Bio Limited (Registered number: 02582192) |
| Balance Sheet |
| 31 March 2025 |
| 2025 | 2024 |
| as restated |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 10 |
| CURRENT ASSETS |
| Stocks | 11 |
| Debtors | 12 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 13 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 16 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 17 |
| Capital redemption reserve | 18 |
| Retained earnings | 18 |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the director and authorised for issue on |
| V.H. Bio Limited (Registered number: 02582192) |
| Statement of Changes in Equity |
| for the Year Ended 31 March 2025 |
| Called up | Capital |
| share | Retained | redemption | Total |
| capital | earnings | reserve | equity |
| £ | £ | £ | £ |
| Balance at 1 April 2023 |
| Changes in equity |
| Total comprehensive income | - |
| Dividends | - | ( |
) | - | ( |
) |
| Balance at 31 March 2024 |
| Changes in equity |
| Total comprehensive income | - |
| Dividends | - | ( |
) | - | ( |
) |
| Bonus share issue | 30 | (30 | ) | - | - |
| Balance at 31 March 2025 |
| V.H. Bio Limited (Registered number: 02582192) |
| Cash Flow Statement |
| for the Year Ended 31 March 2025 |
| 2025 | 2024 |
| as restated |
| Notes | £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 1 |
| Tax paid | ( |
) | ( |
) |
| Net cash from operating activities |
| Cash flows from investing activities |
| Purchase of tangible fixed assets | ( |
) | ( |
) |
| Sale of tangible fixed assets |
| Profit/(loss) on forward contracts | ( |
) |
| Interest received |
| Net cash from investing activities | ( |
) |
| Cash flows from financing activities |
| Equity dividends paid | ( |
) | ( |
) |
| Net cash from financing activities | ( |
) | ( |
) |
| Increase in cash and cash equivalents |
| Cash and cash equivalents at beginning of year |
2 |
5,931,445 |
| Cash and cash equivalents at end of year | 2 | 8,388,587 | 6,925,184 |
| V.H. Bio Limited (Registered number: 02582192) |
| Notes to the Cash Flow Statement |
| for the Year Ended 31 March 2025 |
| 1. | RECONCILIATION OF PROFIT FOR THE FINANCIAL YEAR TO CASH GENERATED FROM OPERATIONS |
| 2025 | 2024 |
| as restated |
| £ | £ |
| Profit for the financial year |
| Depreciation charges |
| Profit on disposal of fixed assets | ( |
) |
| Loss on revaluation of fixed assets | - | 10,373 |
| Finance costs | 193,762 | (29,324 | ) |
| Finance income | (261,605 | ) | (202,345 | ) |
| Taxation |
| 1,685,718 | 1,342,958 |
| Increase in stocks | ( |
) | ( |
) |
| Decrease/(increase) in trade and other debtors | ( |
) |
| Increase in trade and other creditors |
| Cash generated from operations |
| 2. | CASH AND CASH EQUIVALENTS |
| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
| Year ended 31 March 2025 |
| 31.3.25 | 1.4.24 |
| £ | £ |
| Cash and cash equivalents | 8,388,587 | 6,925,184 |
| Year ended 31 March 2024 |
| 31.3.24 | 1.4.23 |
| as restated |
| £ | £ |
| Cash and cash equivalents | 6,925,184 | 5,931,445 |
| 3. | ANALYSIS OF CHANGES IN NET FUNDS |
| At 1.4.24 | Cash flow | At 31.3.25 |
| £ | £ | £ |
| Net cash |
| Cash at bank and in hand | 6,925,184 | 1,463,403 | 8,388,587 |
| 6,925,184 | 8,388,587 |
| Total | 6,925,184 | 1,463,403 | 8,388,587 |
| V.H. Bio Limited (Registered number: 02582192) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2025 |
| 1. | STATUTORY INFORMATION |
| V.H. Bio Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| There were no material departures from that standard. |
| The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts. |
| Significant judgements and estimates |
| In the application of the company's accounting policies, management are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from the estimates. |
| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised when the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
| Significant judgements in applying the company's accounting policies |
| In preparing these financial statements management do not consider there were any significant area of judgement that were required in applying the company's accounting policies as set out in this note. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Income recognition |
| Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. This is usually at the point that the goods have been dispatched. |
| Turnover from service contracts is recognised across the life of the contract. |
| Tangible fixed assets |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Tangible fixed assets are measured at cost less accumulated depreciation and impairment losses. |
| Stocks |
| Stocks are valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for obsolete and slow moving items. |
| V.H. Bio Limited (Registered number: 02582192) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| Basic financial instruments are recognised at amortised cost. Derivative financial instruments, such as forward foreign currency contracts, are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Foreign currencies |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Operating leasing commitments |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
| Dividends |
| Dividends and other distributions to the company's shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the shareholders. These amounts are recognised in the statement of changes in equity. |
| V.H. Bio Limited (Registered number: 02582192) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 3. | TURNOVER |
| The turnover and profit before taxation are attributable to the one principal activity of the company. |
| An analysis of turnover by geographical market is given below: |
| 2025 | 2024 |
| as restated |
| £ | £ |
| United Kingdom |
| Europe |
| 4. | EMPLOYEES AND DIRECTORS |
| 2025 | 2024 |
| as restated |
| £ | £ |
| Wages and salaries |
| Social security costs |
| Other pension costs |
| The average number of employees during the year was as follows: |
| 2025 | 2024 |
| as restated |
| Directors | 1 | 1 |
| Staff | 11 | 12 |
| 2025 | 2024 |
| as restated |
| £ | £ |
| Director's remuneration |
| Director's pension contributions to money purchase schemes |
| The number of directors to whom retirement benefits were accruing was as follows: |
| Money purchase schemes |
| The director is considered to be key management personnel. |
| V.H. Bio Limited (Registered number: 02582192) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 5. | OPERATING PROFIT |
| The operating profit is stated after charging/(crediting): |
| 2025 | 2024 |
| as restated |
| £ | £ |
| Other operating leases |
| Depreciation - owned assets |
| Profit on disposal of fixed assets | ( |
) |
| Auditors' remuneration |
| 6. | INTEREST PAYABLE AND SIMILAR EXPENSES |
| 2025 | 2024 |
| as restated |
| £ | £ |
| Unrealised (profit)/loss on |
| foreign exchange forward |
| contracts | ( |
) |
| ( |
) |
| 7. | TAXATION |
| Analysis of the tax charge |
| The tax charge on the profit for the year was as follows: |
| 2025 | 2024 |
| as restated |
| £ | £ |
| Current tax: |
| UK corporation tax |
| Deferred tax | ( |
) |
| Tax on profit |
| Reconciliation of total tax charge included in profit and loss |
| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
| 2025 | 2024 |
| as restated |
| £ | £ |
| Profit before tax |
| Profit multiplied by the standard rate of corporation tax in the UK of (2024 - |
| Effects of: |
| Expenses not deductible for tax purposes |
| Total tax charge | 435,288 | 387,255 |
| V.H. Bio Limited (Registered number: 02582192) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 8. | DIVIDENDS |
| 2025 | 2024 |
| as restated |
| £ | £ |
| 'C' Ordinary shares of £1 each |
| Interim |
| 9. | PRIOR YEAR ADJUSTMENT |
| In accordance with FRS 102, the Company has reviewed the presentation of its expenses and determined that certain costs previously included within administrative expenses are more appropriately classified as cost of sales. This reclassification better reflects the nature of these costs and provides more relevant and reliable information to users of the financial statements. |
| As a result, the comparative figures for the year ended 31 March 2024 have been restated as follows: |
| Income Statement (extract) | As previously reported | Reclassification | As restated |
| Turnover | 11,272,876 | - | 11,272,876 |
| Cost of Sales | (8,689,310 | ) | (60,775 | ) | (8,750,085 | ) |
| Gross Profit | 2,583,566 | (60,775 | ) | 2,522,791 |
| Administrative Expenses | (1,341,522 | ) | 60,775 | (1,280,747 | ) |
| Other Operating Income | 65,913 | - | 65,913 |
| Operating Profit | 1,307,957 | - | 1,307,957 |
| This reclassification has no impact on the previously reported profit before tax, total comprehensive income, or net assets. |
| 10. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | Plant and | and |
| property | machinery | fittings | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 April 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| V.H. Bio Limited (Registered number: 02582192) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 11. | STOCKS |
| 2025 | 2024 |
| as restated |
| £ | £ |
| Stocks |
| There is no significant difference between the replacement cost of the stocks and its carrying amount. |
| Stocks are stated after provisions for impairment of £nil (2024: £nil). |
| 12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| as restated |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments and accrued income |
| Trade debtors are stated after provisions for impairment of £nil (2024: £nil). |
| 13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| as restated |
| £ | £ |
| Trade creditors |
| Corporation tax |
| Tax and social security |
| Other creditors |
| Foreign exchange forward |
| contracts | 207,637 | 13,875 |
| Accruals and deferred income |
| 14. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2025 | 2024 |
| as restated |
| £ | £ |
| Within one year |
| Between one and five years |
| V.H. Bio Limited (Registered number: 02582192) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 15. | FINANCIAL INSTRUMENTS |
| 2025 | 2024 |
| £ | £ |
| Financial liabilities |
| Measured at fair value | 207,637 | 13,875 |
| 207,637 | 13,875 |
| Financial assets and liabilities which are measured at fair value through the profit and loss includes foreign exchange forward contracts. |
| 16. | PROVISIONS FOR LIABILITIES |
| 2025 | 2024 |
| as restated |
| £ | £ |
| Deferred tax | 34,038 | 12,456 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2024 |
| Accelerated capital allowances | 21,582 |
| Balance at 31 March 2025 |
| 17. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | as restated |
| £ | £ |
| 'A' Ordinary | £1 | 30 | - |
| (2024 - 0 ) |
| 'C' Ordinary | £1 | 60 | 60 |
| 90 | 60 |
| 30 'A' Ordinary shares of £1 each were allotted as fully paid |
| The 'A' Ordinary shares have the right to receive dividends but do not have the right to vote unlike the 'C' Ordinary shares. |
| V.H. Bio Limited (Registered number: 02582192) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 18. | RESERVES |
| Capital |
| Retained | redemption |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 April 2024 | 7,208,412 |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| Bonus share issue | (30 | ) | - | (30 | ) |
| At 31 March 2025 | 8,314,847 |
| Called up share capital - represents the nominal value of shares that have been issued. |
| Retained earnings - includes all current and prior period retained profits and losses. |
| Capital redemption reserve - records the nominal value of shares repurchased by the company. |
| 19. | 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 £168,336 (2024: £181,218). Contributions totalling £nil (2024: £nil) were payable to the fund at the balance sheet date. |
| 20. | RELATED PARTY DISCLOSURES |
| 2025 | 2024 |
| as restated |
| £ | £ |
| Bonus issue of shares |
| 21. | ULTIMATE CONTROLLING PARTY |
| The controlling party is A J Wortley. |