REGISTERED NUMBER: 11325521 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

PsYROs Diagnostics Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

U Bladin

M Khayyami

SECRETARY:

REGISTERED OFFICE:

41b Beach Road

Littlehampton

West Sussex

BN17 5JA

REGISTERED NUMBER:

11325521 (England and Wales)

ACCOUNTANTS:

Reeves Wilkinson Limited trading as Botting & Co

Chartered Certified Accountants

41b Beach Road

Littlehampton

West Sussex

BN17 5JA

FIXED ASSETS

Intangible assets

4

1,731

2,250

Tangible assets

5

469,154

217,209

470,885

219,459

CURRENT ASSETS

Debtors

6

1,012,970

709,368

Cash at bank

65,275

313,764

1,078,245

1,023,132

CREDITORS

Amounts falling due within one year

7

(1,114,984

)

(844,684

)

NET CURRENT (LIABILITIES)/ASSETS

(36,739

)

178,448

TOTAL ASSETS LESS CURRENT LIABILITIES

434,146

397,907

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

434,142

397,903

434,146

397,907

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 February 2025 and were signed on its behalf by:

U Bladin - Director

M Khayyami - Director

1.	STATUTORY INFORMATION

PsYROs Diagnostics Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

5,193

AMORTISATION

At 1 January 2024

2,943

Charge for year

519

At 31 December 2024

3,462

NET BOOK VALUE

At 31 December 2024

1,731

At 31 December 2023

2,250

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

286,224

Additions

362,907

At 31 December 2024

649,131

DEPRECIATION

At 1 January 2024

69,015

Charge for year

110,962

At 31 December 2024

179,977

NET BOOK VALUE

At 31 December 2024

469,154

At 31 December 2023

217,209

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

194,500

-

Other debtors

818,470

709,368

1,012,970

709,368

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

1,028,315

792,051

Taxation and social security

36,378

28,841

Other creditors

50,291

23,792

1,114,984

844,684

8.	OTHER FINANCIAL COMMITMENTS

The company has annual rental commitments in respect of a 3 year lease on the business premises of £113,542 (2023: £76,508).