wk-2024-12-28-ixbrl

Celsis Limited

Strategic report

The directors present their strategic report on the Company for the 52 week period ended 28 December 2024.

Principal activity

The principal activity of the Company is the IP owner of Celsis IP developed for rapid diagnostic and monitoring

systems for use in the detection and measurement of low-level microbial contamination in a wide range of

manufacturing processes and end products. The Company also provides local sales support on behalf of

Charles River Microbial Solutions International Limited ('CRMSIL'), for the full Microbial Solutions portfolio.

Business performance and future outlook

The turnover for the financial period was £6,889,000 (2023: £6,481,000). The profit for the period amounted to

£4,794,000 (2023: £4,789,000). Interim dividends of £4,000,000 were paid during the period (2023: £5,600,000).

The directors do not recommend the payment of a final dividend in respect of the period (2023: £nil).

On 31 December 2017, the Company entered into IP novation agreements with Charles River Microbial Solutions

International Limited ('CRMSIL'), a related party incorporated in Ireland, whereby the Company granted a 15-year

licence to CRMSIL for rights to exploit its existing IP in exchange for royalty income at a variable rate from

CRMSIL. As a result the Microbial Solutions division is now centralised in Ireland. CRMSIL now shares a position

as Principal with CRL US for oversight, R&D, logistics support, manufacturing and customer service for the

Microbial Solutions business. The Company remains the exclusive owner of right, title, and interest to the IP

developed through December 30, 2017 and serves as a local sales support office for the full Microbial portfolio

(Endosafe, Celsis products and Accugenix Services) for the UK market on behalf of CRMSIL, and no longer

distributes Microbial Solutions products.

The directors have carefully considered the impact to the business of current market conditions and through a

tailored approach, involving strategic investment, believe the business is best placed to take advantage of its

position for growth when the market strengthens. In reaching this conclusion, the directors have considered all

available information, including extensive analysis of the impact on the business during 2024, latest forecast

results for 2025, overall expected impact to the market sector in which the Company operates, and the global

economy in general.

Principal risks and uncertainties

Economic and industry risk

The key economic and industrial risks facing the Company are considered to be the level of research and

development activity undertaken by existing and potential customers, as well as the outsourcing policies of these

customers. These risks are managed by working across the pharmaceutical sectors, as well as active sales

programs, client engagement and monitoring of concentration of turnover.

Financial risk management

The Company’s activities expose it to a number of financial risks including cash flow risk, credit risk, liquidity risk

and price risk. The Company does not currently use derivative financial instruments.

Cash flow risk

The Company’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates,

as the Company make sales in US Dollars and Euros. To manage this risk, the Company makes purchases in US

Dollars and Euros, where possible.

Celsis Limited

Strategic report continued

Credit risk

The Company’s principal financial assets are bank balances and cash and trade and other debtors and amounts

owed from group undertakings.

The Company’s credit risk is primarily attributable to its trade debtors. The amounts presented in the balance

sheet are net of provisions for doubtful debts. A provision for impairment is made where there is an identified loss

event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.

The credit risk on liquid funds and financial instruments is limited because the counterparties are banks with high

credit-ratings assigned by international credit-rating agencies.

The Company has no significant concentration of credit risk, with exposure spread over a large number of

counterparties and customers.

Liquidity risk

There is a level of uncertainty in the global market as a result of the current macroeconomic climate, which can

give rise to difficulty in accessing liquidity from third parties.

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future

developments, the Company uses a mixture of long-term and short-term inter-company finance.

Price risk

The Company is not exposed to any significant price risk.

Key performance indicators (“KPIs”)

The main key performance indicator is the profit before taxation, which amounts to £4,934,000 (2023:

£4,795,000).

Given the straightforward nature of the business, the Company’s directors are of the opinion that no further

analyses using KPIs are necessary for an understanding of the development, performance or position of the

business.

Approved by the Board on 21 May 2025 and signed on its behalf on 21 May 2025 by:

Flavia Pease

F Pease

Director

Celsis Limited

Directors’ report for the period ended 28 December 2024

The directors present their report and the audited financial statements of the Company for the 52 week period

ended 28 December 2024 . The comparative period is the 52 week period ended 30 December 2023. The

registered number of the Company is 02695296.

Directors

The directors who held office during the financial period and up to the date of signing the financial statements are

as follows:

K Finn

F Pease

Dividends

The directors do not recommend the payment of a final dividend in respect of the period, to the shareholder,

Celsis Group Limited (2023 - £nil).

Business performance, future outlook and principal risks and uncertainties

The results for the period are set out in the Profit and loss account on page 10. The results for the period, future

developments and principal risks and uncertainties have been discussed in the Strategic report presented on

pages 2 to 3.

Going concern

The directors have prepared a cash flow forecast which shows that they expect the Company to be able to meet

its operating obligations from available cash resources and the group's European cash pooling system as they

fall due.

The forecast includes a number of assumptions; however, based on the directors’ knowledge of the business,

they consider that the assumptions which underpin the forecast are realistic and achievable. As discussed in the

Strategic report, the business continues to forecast profitable performance throughout 2025 and beyond.

As at 28 December 2024, the Company had net current assets of £2,938,000 (2023 - 2,137,000) and a net cash

balance of £nil (2023 - £309,000).

The parent entity's European cash pooling system clears the Company's primary bank account to nil balance on

a daily basis and replaces it with an intercompany receivable or payable. The Directors have received

confirmation from Charles River Laboratories International, Inc., the ultimate parent entity, that it will provide

financial support as required for the Company to meet its financial obligations as they fall due for at least twelve

months from the date of signing these financial statements.

Based on all of the available evidence, the directors have considered the intent and ability of Charles River

Laboratories International, Inc. to provide financial support as required, noting no issues, and consequently have

a reasonable expectation that the Company has adequate financial resources to continue in existence for the

foreseeable future. In conclusion, they continue to adopt the going concern basis in preparing these financial

statements.

Financial risk management

Financial risks and the management of these risks have been discussed in the Strategic report presented on

pages 2 to 3.

Directors’ indemnities

The Company has made qualifying third-party indemnity provisions for the benefit of its directors which were

made during the period and remain in force at the date of this report.

Disabled employees

The Company is committed to employment policies which allow best practice, based on equal opportunities for all

employees, irrespective of sex, race, color, disability or marital status.

Celsis Limited

Directors’ report for the period ended 28 December 2024 (continued)

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the

applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their

employment with the group continues and that appropriate training is arranged. It is the policy of the group that

the training, career development and promotion of disabled persons should, as far as possible, be identical with

that of other employees.

Employee involvement

The Company remains committed to its quality management programme which involves all staff in seeking to

continuously improve the services offered to sponsors. Staff share in the success of the group through bonus

arrangements. Staff training and development have continued to be emphasised through the availability of

extensive in-house training courses and through performance appraisal systems.

The Company communicates with its employees on all matters relevant to them through a variety of media.

These include all hands meetings, departmental meetings and one to one feedback, as well as a dedicated

intranet site and message boards. The key information provided to staff includes financial performance of the

group and its ultimate parent company, regulatory and quality issues and performance improvement initiatives.

Statement of directors’ responsibilities

The directors are responsible for preparing the Annual report and financial statements in accordance with

applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial period. Under that law the

directors have prepared the financial statements in accordance with United Kingdom Generally Accepted

Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting

Standard 102, “The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102)”.

Under company law the directors must not approve the financial statements unless they are 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 directors are required to:

• Select suitable accounting policies and then apply them consistently.

• State whether applicable United Kingdom Accounting Standards, comprising FRS 102, have been

followed, subject to any material departures disclosed and explained in the financial statements.

• Make judgments 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 directors are 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.

The directors are 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 them to ensure that the financial statements comply with the Companies Act 2006.

Directors’ confirmations

In the case of each director in office at the date the Directors’ report is approved.

• So far as the director is aware, there is no relevant audit information of which the company’s auditors

are unaware.

• They have taken all the steps that they ought to have taken as a director in order to make themselves

aware of any relevant audit information and to establish that the company’s auditors are aware of that

information.

Celsis Limited

Directors’ report for the period ended 28 December 2024 (continued)

Independent auditors

The auditors, Sumer Auditco Limited have indicated their willingness to continue in office and a resolution

concerning their re-appointment will be proposed at the annual general meeting.

Approved by the Board on 21 May 2025 and signed on its behalf on 21 May 2025 by:

Flavia Pease

F Pease

Director

Celsis Limited

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CELSIS LIMITED

Opinion

We have audited the financial statements of Celsis Limited (the 'Company') for the period ended 28 December

2024, which comprise the Profit and loss account, the Statement of comprehensive income, the Balance sheet,

the Statement of changes in equity and the related notes, 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 28 December 2024 and of its profit

for the period 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 United Kingdom, including the

Financial Reporting Council'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 directors' 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 directors with respect to going concern are described in the

relevant sections of this report.

Celsis Limited

Other information

The other information comprises the information included in the Annual Report other than the financial statements

and our Auditors' report thereon. The directors are responsible for the other information contained within the

Annual Report. 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. 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 course of 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.

Opinion 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 Directors' report for the financial period for which the financial statements

are prepared is consistent with the financial statements; and

• the Directors' report has been prepared in accordance with applicable legal requirements.

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 Directors' report.

We have nothing to report in respect of the following matters in relation to which 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 directors' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or

• the directors were not entitled to prepare the financial statements in accordance with the small

companies regime and take advantage of the small companies' exemptions in preparing the Directors'

report and from the requirement to prepare a Strategic report.

Responsibilities of directors

As explained more fully in the Directors' responsibilities statement set out on page 5, the directors are

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 directors determine is 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 directors are 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 directors either intend to liquidate the Company or to cease operations, or

have no realistic alternative but to do so.

Celsis 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 an Auditors' report 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.

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. The extent to which our procedures are capable of detecting irregularities, including fraud is

detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in

which it operates, and considered the risk of acts by the company that were contrary to applicable laws and

regulations, including fraud. We designed audit procedures to respond to the risk, recognising that 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 deliberate concealment by, for example, forgery or intentional misrepresentations, or through

collusion.

We focused on laws and regulations which could give rise to a material misstatement in the financial statements,

including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the

financial statement disclosures to underlying supporting documentation and enquiries with management. There

are inherent limitations in the audit procedures described above and, 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. As in all our audits, we also addressed the risk of management override of internal

controls, including testing journals and evaluating whether there was evidence of bias by the directors that

represented a risk of material misstatement due to fraud.

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 Auditors'

report.

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 an Auditors' report 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.

Douglas Rae

Douglas Rae (Senior statutory auditor)

for and on behalf of

Sumer Auditco Limited

Chartered Accountants

Statutory Auditors

14 City Quay

Dundee

DD1 3JA

21 May 2025

Celsis Limited

Profit and loss account


	Notes	Period ended 28 December 2024	Period ended 30 December 2023
		£'000	£'000
Turnover	5	6,889	6,481
Cost of sales		(179)	(174)
Gross profit		6,710	6,307
Administrative expenses		(1,832)	(1,592)
Operating profit	6	4,878	4,715
Interest receivable and similar income		56	80
Profit before taxation		4,934	4,795
Tax on profit	10	(140)	(6)
Profit for the financial period		4,794	4,789

Statement of comprehensive income


	Period ended 28 December 2024	Period ended 30 December 2023
	£'000	£'000
Profit for the financial period	4,794	4,789
Other comprehensive income	-	-
Total comprehensive income for the financial period	4,794	4,789

The above results relate entirely to continuing activities.

The notes on pages 13 to 29 form part of these financial statements.

Celsis Limited

Balance sheet


	Notes	As at 28 December 2024	As at 30 December 2023
		£'000	£'000
Fixed assets
Intangible assets	11	66	76
		66	76
Current assets
Debtors	13	3,311	1,987
Cash at bank and in hand		-	309
		3,311	2,296

Creditors: amounts falling due within one year	14	(373)	(159)
Net current assets		2,938	2,137
Total assets less current liabilities		3,004	2,213
Provision for other liabilities	15	-	(24)
Net assets		3,004	2,189

Capital and reserves
Called-up share capital	16	-	-
Retained earnings		3,004	2,189
Total equity		3,004	2,189

The financial statements on pages 10 to 29 were authorised for issue by the Board of directors on 21 May 2025

and were signed on its behalf on 21 May 2025 by:

Flavia Pease

F Pease

Director

Celsis Limited

Registered no. 02695296

Celsis Limited

Statement of changes in equity

For the period ended 28 December 2024


	Retained earnings	Total
	£'000	£'000
Balance as at 1 January 2023	2,995	2,995
Profit for the period	4,789	4,789
Total comprehensive income for the period	4,789	4,789
Dividends	(5,600)	(5,600)
Charge to equity for share-based payments	5	5
Total transactions with owners, recognised directly in equity	(5,595)	(5,595)
Balance as at 30 December 2023	2,189	2,189
Profit for the period	4,794	4,794
Total comprehensive income for the period	4,794	4,794
Dividends	(4,000)	(4,000)
Charge to equity for share-based payments	21	21
Total transactions with owners, recognised directly in equity	(3,979)	(3,979)
Balance as at 28 December 2024	3,004	3,004

Dividends amounting to £4,000,000 (2023: £5,600,000) were paid or declared during the period.

Celsis Limited

Notes to the financial statements

Period ended 28 December 2024

1. General information

Celsis Limited (the “Company”) is a private Company limited by shares and is incorporated in the United Kingdom

and registered in England. The address of its registered office is Charles River Laboratories, Manston Road ,

Margate , Kent, England, CT9 4LT.

The principal activity of the Company is the IP owner of Celsis IP developed for rapid diagnostic and monitoring

systems for us in the detection and measurement of low-level microbial contamination in a wide range of

manufacturing processes and end products. The Company also provides local sales support on behalf of

Charles River Microbial Solutions International Limited ('CRMSIL'), for the full Microbial Solutions portfolio.

2. Statement of compliance

The individual financial statements of Celsis Limited have been prepared in compliance with United Kingdom

Accounting Standards, including Financial Reporting Standard 102, ‘‘The Financial Reporting Standard applicable

in the United Kingdom and the Republic of Ireland’’ (‘‘FRS 102’’) and the Companies Act 2006.

3. 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 periods presented, unless otherwise stated. The Company has

adopted FRS 102 in these financial statements.

a. Basis of preparation

These financial statements cover the 52 week period beginning 31 December 2023 and ending 28 December

2024. The comparative reporting period covered the 52 week period beginning 1 January 2023 and ending

30 December 2023 .

These financial statements are prepared on the going concern basis, under the historical cost convention, as

modified by the revaluation of certain financial assets and liabilities measured at fair value throughout the profit

and loss account.

The preparation of financial statements in conformity with FRS 102 requires the use of certain critical accounting

estimates. It also requires management to exercise its judgement in the process of applying the Company’s

accounting policies. The areas involving a higher degree of judgement or complexity, or areas where

assumptions and estimates are significant to the financial statements are disclosed in note 4.

b. Going concern

The directors have prepared a cash flow forecast which shows that they expect the Company to be able to meet

its operating obligations from available cash resources and the group's European cash pooling system as they

fall due.

The forecast includes a number of assumptions; however, based on the directors’ knowledge of the business and

the Company’s track record of successfully achieving its targets, they consider that the assumptions which

underpin the forecast are realistic and achievable. As discussed in the Directors' report, the parent entity's

European cash pooling system clears the Company's primary bank account to nil balance on a daily basis and

replaces it with an intercompany receivable or payable. The Directors have received confirmation from Charles

River Laboratories International, Inc. it's ultimate parent entity, that it will provide financial support as required for

the Company to meet its financial obligations as they fall due for at least twelve months from the date of signing

these financial statements

Based on all of the available evidence, the directors have considered the intent and ability of Charles River

Laboratories International, Inc. to provide financial support as required, noting no issues, and consequently have

a reasonable expectation that the Company has adequate financial resources to continue in existence for the

foreseeable future. In conclusion, they continue to adopt the going concern basis in preparing these financial

statements.

Celsis Limited

Notes to the financial statements

Period ended 28 December 2024

3. Summary of significant accounting policies (continued)

c. Exemptions for qualifying entities under FRS 102

FRS 102 allows a qualifying entity certain disclosure exemptions, if certain conditions, have been complied with,

including notification of and no objection to, the use of exemptions by the Company’s shareholders. A qualifying

entity is defined as a member of a Group that prepares publicly available financial statements, which give a true

and fair view, in which that member is consolidated. The Company is a qualifying entity as its results are

consolidated into the financial statements of Charles River Laboratories International, Inc. which are publicly

available.

As a qualifying entity, the Company has taken advantage of the following exemptions in its separate financial

statements:

i) from the requirement to prepare a statement of cash flows as required by paragraph 3.17(d) of FRS 102;

ii) from the requirement to present certain financial instrument disclosures, as required by sections 11 and 12 of

FRS 102;

iii) from disclosing share-based payment arrangements, required by paragraphs 26.18(b), 26.19 to 26.21 and

26.23 of FRS 102, concerning its own equity instruments;

iv) from the requirement to present a reconciliation of the number of shares outstanding at the beginning and

end of the period as required by paragraph 4.12(a)(iv) of FRS 102; and

v) from the requirement to disclose the key management personnel compensation in total as required by

paragraph 33.7 of FRS 102.

d. Consolidated financial statements

The Company is a wholly owned (indirect) subsidiary of Charles River Laboratories International, Inc. It is

included in the consolidated financial statements of Charles River Laboratories International, Inc. which are

publicly available. Therefore, the Company is exempt by virtue of section 401 of the Companies Act 2006 from

the requirement to prepare consolidated financial statements.

These financial statements are the Company’s separate financial statements.

e. Foreign currency

i) Functional and presentation currency

The Company’s functional and presentation currency is the pound sterling.

ii) Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the

dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items

measured at historical cost are translated using the exchange rate at the date of the transaction and non-

monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at

period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in

the profit and loss account.

Foreign exchange gains and losses that relate to borrowings are presented in the profit and loss account within

‘finance (expense) / income’. All other foreign exchange gains and losses are presented in the profit and loss

account within ‘other operating (losses) / gains’.

Celsis Limited

Notes to the financial statements

Period ended 28 December 2024

3. Summary of significant accounting policies (continued)

f. Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable and represents the amount

receivable for services rendered net of discounts and rebates allowed by the company and value added taxes.

The company recognises revenue when (a) the significant risks and rewards of ownership have been transferred

to the buyer, (b) the company retains no continuing involvement or control over the goods, (c) the amount of

revenue can be measured reliably, (d) it is probable that future economic benefits will flow to the entity and (e)

when the specific criteria relating to the each of company’s sales channels have been met, as described below.

i) Sale of services and licence fee income

The Company derives revenue from the granting of up-front licence fees or advance royalties to its intellectual

property rights, as well as ongoing services (such as technology transfer) that are analysed to determine the

nature of the various contractual elements. Where such elements are deemed in substance not to operate

independently, the up-front fee or advance royalty is recognised as revenue rateably over the period of the

related services (which involve multiple indeterminate acts).

The timing of revenue recognition, billings and cash collections results in contract assets (unbilled revenue), and

contract liabilities (current and long-term deferred revenue and customer contract deposits) on the balance sheet.

A contract asset is recorded when a right to consideration in exchange for goods or services transferred to a

customer is conditioned other than passage of time. A contract liability is recorded when consideration is

received, or such consideration is unconditionally due, from a customer prior to transferring goods or services to

the customer under the terms of a contract. Contract liabilities are recognised as revenue after control of the

products or services is transferred to the customer and all revenue recognition criteria have been met.

g. Exceptional items

Exceptional items are disclosed separately in the financial statements where it is necessary to do so to provide

further understanding of the financial performance of the company. They are items that are material either

because of their size or their nature, and are considered non-recurring. These items are presented within the line

items to which they best relate and reported separately as exceptional items.

h. Employee benefits

The Company provides a range of benefits to employees, including annual bonus arrangements, paid holiday

arrangements and defined contribution pension plans.

i) Short term benefits

Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense

in the period in which the service is received.

ii) Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension

plan under which the company pays fixed contributions into a separate entity. Once the contributions have been

paid the company has no further payment obligations. The contributions are recognised as an expense when

they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held

separately from the company in independently administered funds.

Celsis Limited

Notes to the financial statements

Period ended 28 December 2024

3. Summary of significant accounting policies (continued)

h. Employee benefits (continued)

iii) Share-based payments

The Company participates in equity-settled, share-based compensation plans operated by Charles River

Laboratories International, Inc. (Note 8). The equity-settled arrangements are measured at fair value (excluding

the effect of non-market based vesting conditions) at the date of the grant. The fair value is expensed on a

straight-line basis over the vesting period. The amount recognised as an expense is adjusted to reflect the actual

number of shares or options that will vest.

The intrinsic value of options exercised during the period is invoiced to the Company by Charles River

Laboratories International, Inc. Any differences between the intrinsic value and the expense recognised in the

Profit and loss account for the period, are recognised as a debit or credit to the share-based payment reserve

within shareholders’ funds, and are shown in the statement of changes in equity.

National Insurance Contributions (NIC) payable by the Company on the exercise of share options, are provided

for based on the intrinsic value of these options and the prevailing rate of NIC at the balance sheet date.

i. Taxation

Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is

recognised in the profit and loss account, except to the extent that it relates to items recognised in other

comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or

directly in equity respectively.

The Government enacted the R&D expenditure credit (“RDEC”) tax relief from 1 April 2013 and the Company

entered the scheme on this date. The Company has treated the RDEC as grant income within the financial

statements.

Current or deferred taxation assets and liabilities are not discounted.

i) Current tax

Current tax is the amount of income tax payable in respect of the taxable profit for the period or prior periods. Tax

is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period

end.

ii) Deferred tax

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive

income as stated in the financial statements. These 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 recognised on all timing differences at the reporting date except for certain exceptions. Unrelieved

tax losses and other deferred tax assets are only recognised when 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 tax

rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply

to the reversal of the timing difference.

j. Research and development expenditure

Research and development expenditure is charged to the Profit and loss account as incurred.

k. Grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset

received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue

are recognised in income over the period in which the related costs are recognised. Grants relating to assets are

recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is

recognised as deferred income.

Celsis Limited

Notes to the financial statements

Period ended 28 December 2024

3. Summary of significant accounting policies (continued)

l. Business acquisitions

The Company accounts for business combinations using merger accounting principles. The Company allocates

the amounts that it pays for each acquisition to the assets it acquires and liabilities it assumes based on their fair

value of identifiable intangible assets acquired in a business combination on valuations that use information and

assumptions determined by management and which consider management’s best estimates of inputs and

assumptions that a market participant would use.

m. Intangible assets

Goodwill

Purchased goodwill, being the difference between the fair value of the consideration and the fair value of the net

assets acquired, is capitalised and amortised on a straight line basis over a prudent estimate of the period that

the Company is expected to benefit from it. Goodwill amortisation periods are determined on a case by case

basis up to a maximum of 20 years.

Other intangible assets

Other intangible assets are stated at cost less accumulated amortisation. The cost of intangible assets is the

consideration paid for their purchase. The intangible assets are amortised on a straight line basis over the

estimated period that the company is expected to benefit from them (see note 11). The useful economic lives

used for this purpose are:


Capitalised software	3 to 5 years
Patents/trade marks	10 to 20 years

Where factors, such as technological advancement or changes in market price, indicate that the residual value or

useful life have changed, the residual value, useful life or amortisation rate are amended prospectively to reflect

the new circumstances.

The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired.

n . Tangible assets

Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost

includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its

intended use, dismantling and restoration costs and borrowing costs capitalised.

i) Office equipment, fixtures and fittings, and laboratory equipment

These are stated at cost less accumulated depreciation and accumulated impairment losses.

ii) Depreciation and residual values

Land is not depreciated. Depreciation on other assets is calculated, using the straight-line method, to allocate the

cost to their residual values over their estimated useful lives, as follows:


Office equipment, fixtures and fittings	3 to 5 years

Celsis Limited

Notes to the financial statements

Period ended 28 December 2024

3. Summary of significant accounting policies (continued)

n . Tangible assets (continued)

The assets’ residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each

reporting period. The effect of any change is accounted for prospectively.

iv) Subsequent additions and major components

Subsequent costs, including major inspections, are included in the assets carrying amount or recognised as a

separate asset, as appropriate, only when it is probable that economic benefits associated with the item will flow

to the company and the cost can be measured reliably.

The carrying amount of any replaced component is derecognised. Major components are treated as a separate

asset where they have significantly different patterns of consumption of economic benefits and are depreciated

separately over its useful life.

Repairs, maintenance and minor inspection costs are expensed as incurred.

v) Assets in the course of construction

Assets in the course of construction are stated at cost. These assets are not depreciated until they are available

for use and are reviewed for impairment at each reporting date.

vi) Derecognition

Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal,

the difference between the net disposal proceeds and the carrying amount is recognised in the profit and loss

account.

o. Borrowing costs

General and specific borrowing costs directly attributable to the acquisition, construction or production of

qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their

intended use, are capitalised and added to the cost of those assets until such time as the assets are substantially

ready for their intended use. All other borrowing costs are recognised in the profit and loss account in the period

in which they are incurred.

Celsis Limited

Notes to the financial statements

Period ended 28 December 2024

3. Summary of significant accounting policies (continued)

p. Impairment of non-financial assets

At each balance sheet date, non-financial assets not carried at fair value are assessed to determine whether

there is an indication that the asset may be impaired. If there is such an indication the recoverable amount of the

asset is compared to the carrying amount of the asset.

The recoverable amount of the asset is the higher of the fair value less costs to sell and value in use. Value in

use is defined as the present value of the future cash flows before interest and tax obtainable as a result of the

asset’s continued use. These cash flows are discounted using a pre-tax discount rate that represents the current

market risk-free rate and the risks inherent in the asset.

If the recoverable amount of the asset is estimated to be lower than the carrying amount, the carrying amount is

reduced to its recoverable amount. An impairment loss is recognised in the profit and loss account, unless the

asset has been revalued when the amount is recognised in other comprehensive income to the extent of any

previously recognised revaluation. Thereafter any excess is recognised in the profit and loss account.

If an impairment loss is subsequently reversed, the carrying amount of the asset is increased to the revised

estimate of its recoverable amount, but only to the extent that the revised carrying amount does not exceed the

carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised

in prior periods. A reversal of an impairment loss is recognised in the profit and loss account.

q. Cash and cash equivalents

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 or less and bank overdrafts. Bank overdrafts are shown

within borrowings in current liabilities.

r. Provisions and contingencies

i) Provisions

Provisions are recognised when the Company has a present legal or constructive obligation as a result of past

events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the

obligation can be estimated reliably.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is

determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of

an outflow with respect to any one item included in the same class of obligations may be small.

Provisions are measured at the present value of the expenditures expected to be required to settle the obligation

using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to

the obligation. The increase in the provision due to passage of time is recognised as a finance cost.

ii) Contingencies

Contingent liabilities are not recognised. Contingent liabilities arise as a result of past events when (i) it is not

probable that there will be an outflow of resources or that the amount cannot be reliably measured at the

reporting date or (ii) when the existence will be confirmed by the occurrence or non-occurrence of uncertain

future events not wholly within the Company’s control. Contingent liabilities are disclosed in the financial

statements unless the probability of an outflow of resources is remote.

Contingent assets are not recognised. Contingent assets are disclosed in the financial statements when an inflow

of economic benefits is probable.

Celsis Limited

Notes to the financial statements

Period ended 28 December 2024

3. Summary of significant accounting policies (continued)

s. Financial instruments

The Company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances and investments in

commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing

transaction, where the transaction is measured at the present value of the future receipts discounted at a market

rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective

evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount

and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The

impairment loss is recognised in the profit and loss account.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised,

the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the

carrying amount would have been had the impairment not previously been recognised. The impairment reversal

is recognised in the profit and loss account.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint

ventures, are initially measured at fair value, which is normally the transaction price.

Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss,

except that investments in equity instruments that are not publicly traded and whose fair values cannot be

measured reliably are measured at cost less impairment.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are

settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party

or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the

asset to an unrelated third party without imposing additional restrictions.

ii) Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans and loans from fellow group

undertakings, are initially recognised at transaction price, unless the arrangement constitutes a financing

transaction, where the debt instrument is measured at the present value of the future receipts discounted at a

market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or

less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction

price and subsequently measured at amortised cost using the effective interest method.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial

instruments.

Derivatives 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, unless they are included in a hedging arrangement.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is

discharged, cancelled or expires.

iii) Offsetting

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is

a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to

realise the asset and settle the liability simultaneously.

Celsis Limited

Notes to the financial statements

Period ended 28 December 2024

3. Summary of significant accounting policies (continued)

t. Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary

shares or options are shown in equity as a deduction, net of tax, from the proceeds.

u. Distributions to equity holders

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 Company’s

shareholders. These amounts are recognised in the statement of changes in equity.

4. Critical accounting judgements and estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and

assumptions that affect the application of the accounting policies and the reported amounts of assets and

liabilities, revenue and expenses. Actual results may differ from these estimates.

Estimates and assumptions are continually evaluated and are based on historical experience and other factors,

including expectations of future events that are believed to be reasonable under the circumstances.

(a) Critical judgement in applying the entity’s accounting policies

The critical judgements, apart from those involving estimates, made by the directors, that had a significant effect

on the amounts recognised in the entity financial statements, are as set out below:

i) Recoverability of debtors

The Company makes a judgement as to whether trade and other debtor balances are recoverable, based on

available evidence such as the age of the debt, historical experience, and debtor correspondence. Any amounts

judged as not recoverable are written off to the profit and loss account in the period that the judgement is

determined. Any amounts previously provided for the impairment of the debt are released from the provision and

credited to the profit and loss account in the same period.

(b) Key accounting estimates and uncertainties

The directors make estimates and assumptions concerning the future in the process of preparing the entity

financial statements. The resulting accounting estimates will, by definition, seldom equal the related actual

results. The estimates and assumptions that have a significant risk of causing a material adjustment to the

carrying amounts of assets and liabilities within the next financial period are addressed below.

i) Useful economic lives of intangible fixed assets

The directors make estimates and assumptions concerning the future in the process of preparing the entity

financial statements. The resulting accounting estimates will, by definition, seldom equal the related actual

results. The estimates and assumptions that have a significant risk of causing a material adjustment to the

carrying amounts of assets and liabilities within the next financial period are addressed below.

Celsis Limited

Notes to the financial statements

Period ended 28 December 2024

5. Turnover

The directors are of the opinion that the Company has only one class of business, namely contract scientific

research and consultancy. However, the Company provided its services to customers in a number of

geographical areas and its turnover can be summarised as follows:


	2024	2023
	£'000	£'000
Europe	6,889	6,481
	6,889	6,481

6. Operating profit


	2024	2023
Operating profit is after charging/(crediting):	£'000	£'000

Depreciation and amortisation for the period:
Intangible fixed assets	10	150
Research and development tax credit	-	(14)
Foreign exchange loss/(gain)	21	(45)

The analysis of auditors’ remuneration is as follows:


	2024	2023
	£'000	£'000
Fees payable to the Company’s auditors for the audit of the Company’s financial statements	14	16
Total audit fees	14	16

Celsis Limited

Notes to the financial statements

Period ended 28 December 2024

7. Employee information


	2024	2023
	No.	No.
The average monthly number of employees was:
Technical, research and development	13	12
	13	12

	2024	2023
	£'000	£'000
Staff costs during the period
Wages and salaries	1,318	1,044
Social security costs	208	157
Other pension costs	85	70
Share option costs	-	22
	1,611	1,293

The emoluments of the directors are paid by other group companies who make no recharge to the Company. The

directors are also directors of a number of fellow subsidiaries and it is not possible to make an accurate

apportionment of their emoluments in respect of each of the subsidiaries. Accordingly, the above details include

no emoluments (2023: £nil) in respect of the directors. Their total emoluments are included in the aggregate of

directors’ emoluments disclosed in the financial statements of the ultimate parent Company.

At the balance sheet date, no directors (2023: none) were members of a defined contribution pension plan.

Celsis Limited

Notes to the financial statements

Period ended 28 December 2024

8. Share-based payments and share options

The ultimate parent company Charles River Laboratories International, Inc. has stock-based compensation plans

under which employees are granted stock-based awards such as stock options, RSUs, and PSUs.

During the financial periods ended 28 December 2024 and 30 December 2023, the primary share-based awards

and their general terms and conditions are as follows:

• Stock options, which entitle the holder to purchase a specified number of shares of common stock at an

exercise price equal to the closing market price of common stock on the date of grant; typically vest over 4

years; and typically expire 5 or 10 years from date of grant.

• RSUs, which represent an unsecured promise to grant at no cost a set number of shares of common stock

upon the completion of the vesting schedule, and principally vest over 4 years. With respect to RSUs,

recipients are not entitled to cash dividends and have no voting rights on the stock during the vesting period.

• PSUs, which entitle the holder to receive at no cost, a specified number of shares of common stock within a

range of shares from zero to a specified maximum and typically vest over 3 years. Payout of this award is

contingent upon achievement of certain performance and market conditions.

The options are equity settled and the exercise price is the share price at the grant date. The Company accounts

for all share option schemes in accordance with Section 26 of FRS 102 (“Share-based payments”). The fair value

is expensed on a straight-line basis over the vesting period. The amount recognised as an expense is adjusted

to reflect the actual number of shares or options that will vest.

The volatility is based on a statistical analysis of daily share prices over a period equal to the vesting period of the

schemes ending on the day before the grant date for the schemes.


	2024	2023
Volatility	37%	36%
Risk free interest rates	4.40%	3.80%
Expected dividend yield	Nil	Nil
Weighted average remaining contractual life of options outstanding at end of period	6.0 years	6.0 years

The Company is unable to directly measure the fair value of employee services received. Instead, the fair value

of the share options granted during the period is determined using the Black-Scholes model. The model is

internationally recognised as being appropriate to value employee share option schemes similar to the Charles

River Laboratories International, Inc. schemes. In the fair value model it has been assumed that the expected

dividend yield for the share option plan is nil and the estimated life of the share options is 6.0 years (period ended

30 December 2023 : 6.0 years). The Company recognised total expenses of £21,000 related to Charles River

Laboratories International, Inc. equity-settled share-based payment transactions in the period ended

28 December 2024 (2023: £5,000).

Celsis Limited

Notes to the financial statements

Period ended 28 December 2024

9. Interest receivable and similar income


	2024	2023
	£'000	£'000

Bank interest receivable and similar income	2	80
Other interest receivable	54	-

Total interest receivable and similar income	56	80

Celsis Limited

Notes to the financial statements

Period ended 28 December 2024

10. Tax on profit

(a) Analysis of charge for the period


	2024	2023
	£'000	£'000
Current tax:
UK corporation tax	176	-
	176	-
Deferred tax:
Origination and reversal of timing differences	1	6
Adjustment in respect of prior periods	(37)	-
	(36)	6

Total tax charge for the period	140	6

(b) Factors affecting tax charge for the period

The tax assessed for the period is lower than ( 2023: lower than) the standard rate of corporation tax in the UK of

25.00% (2023 – 23.52%). The differences are explained below:


	2024	2023
	£'000	£'000

Profit before tax	4,934	4,795

Profit before tax at the standard rate of UK corporation tax of 25% (2023– 23.52%)	1,234	1,128
Expenses not deductible for tax purposes	12	5
Effects of group relief/other relief surrendered but not yet paid for	(1,064)	(1,121)
Adjustment in respect of prior periods	(37)	-
Deferred tax not recognised	(5)	(6)
Total tax charge for the period	140	6

In the Spring Budget 2021, the UK Government announced that from 1 April 2023 the corporation tax rate would

increase to 25% (rather than remaining at 19%, as previously enacted). This new law was substantively enacted

on 24 May 2021. There has been no change to corporation tax rates for the financial year ended 31 December

2024. For the financial period ended 28 December 2024, the current weighted average tax rate is 25% (30

December 2023 weighted average tax rate was 23.52%). Deferred taxes at the balance sheet date have been

measured using these enacted tax rates and reflected in these financial statements.

The Charles River Laboratories International, Inc. group falls within the scope of the OECD Pillar Two model

rules. Pillar Two was enacted in the UK via the UK Finance (No 2) Act 2023 on 11 July 2023. The Pillar Two

legislation was effective in the UK for accounting periods beginning on or after 31 December 2023. As the Pillar

Two legislation is effective at the reporting date, the company has estimated its related current tax exposure.

Under legislation, the company is liable to pay a top-up tax in the UK for the difference between the GloBE

effective tax rate for the UK and the 15% minimum rate. In addition, top-up taxes are payable locally where

qualifying domestic minimum top-up taxes have been legislated and are in effect.

The company has an estimated weighted average effective tax rate which falls below 15% in the UK at an entity

level. However at a UK jurisdictional level the Charles River UK Group has an estimated weighted average

effective tax rate that exceeds 15% in the UK, and as such applies the CbCR effective tax rate safe harbour

provisions in calculating this basis. No top-up taxes have therefore been accrued in the current reporting period.

The company applies the exception to recognising and disclosing information about deferred tax assets and

liabilities related to Pillar Two income taxes.

Celsis Limited

Notes to the financial statements

Period ended 28 December 2024

11. Intangible assets


	Patents/trade marks	Capitalised software	Total
	£'000	£'000	£'000

Cost
At 30 December 2023	293	1,297	1,590
Disposals	-	(366)	(366)
At 28 December 2024	293	931	1,224

Accumulated amortisation
At 30 December 2023	217	1,297	1,514
Disposals	-	(366)	(366)
Charge for the period	10	-	10
At 28 December 2024	227	931	1,158

Net book value
At 28 December 2024	66	-	66

At 30 December 2023	76	-	76

Amortisation is included in the profit and loss account in administrative expenses.

12. Tangible assets


	Fixtures and fittings	Total
	£'000	£'000
Cost
At 30 December 2023	284	284

At 28 December 2024	284	284

Accumulated depreciation
At 30 December 2023	284	284

At 28 December 2024	284	284

Net book value
At 28 December 2024	-	-
At 30 December 2023	-	-

Celsis Limited

Notes to the financial statements

Period ended 28 December 2024

13. Debtors


	2024	2023
	£'000	£'000
Amounts falling due within one year:
Amounts owed by group undertakings	3,292	799
Other debtors	6	7
Corporation tax	1	1,178
Prepayments and accrued income	-	3
Deferred tax	12	-
	3,311	1,987

The amounts owed by group undertakings includes a balance of £1,763,000 (2023: £nil) related to intercompany

cash pooling which bears interest at SONIA less 0.40%. The remainder represents trading balances, which are

unsecured, do not bear interest, and are repayable on demand.

14. Creditors: amounts falling due within one year


	2024	2023
	£'000	£'000
Amounts owed to group undertakings	2	2
Taxation and social security	89	17
Accruals and deferred income	282	140
	373	159

The amounts owed to group undertakings represents trading balances, which are unsecured, do not bear

interest, and are repayable on demand.

15. Provision for liabilities


	Deferred tax	Total
	£'000	£'000

At 30 December 2023	(24)	(24)
Charged to profit and loss account	(1)	(1)
Adjustment in respect of prior periods	37	37
Asset transferred to debtors	(12)	(12)
At 28 December 2024	-	-

16. Called-up share capital


	2024	2023
	£'000	£'000
Issued, called-up and fully paid
100 (2022 - 100) ordinary shares of £1 each	-	-

There is a single class of ordinary shares. There are no restrictions on the distribution of dividends and the

repayment of capital.

17. Financial commitments

At 28 December 2024, the Company had no financial commitments (2023: £nil).

Celsis Limited

Notes to the financial statements

Period ended 28 December 2024

18. Related party transactions

The Company has taken advantage of the exemption contained in paragraph 33.1A of FRS 102 “Related party

transactions” not to disclose transactions with other group companies (or investees of the group qualifying as

related parties) on the basis that it is a wholly-owned subsidiary of Charles River Laboratories International, Inc.

for which consolidated financial statements are publicly available.

19. Controlling parties

The immediate parent company is Celsis Group Limited, a company registered in the United Kingdom .

The ultimate parent undertaking and controlling party for the whole period was Charles River Laboratories

International, Inc., a company registered in the United States of America, with registered office address at 251

Ballardvale Street, Wilmington, MA 01887, which is the parent undertaking of the smallest and the largest group

into which the results of the Company are consolidated. Copies of the consolidated financial statements of

Charles River Laboratories International, Inc. can be obtained from its registered office, or the website

www.criver.com.

20. Events after the end of the reporting period

There are no significant events to note.


Contents	Page
Directors and advisers	1
Strategic report	2
Directors' report	4
Independent auditors' report to the members of Celsis Limited	7
Profit and loss account	10
Statement of comprehensive income	10
Balance sheet	11
Statement of changes in equity	12
Notes to the financial statements	13