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Registered number: 11718460
Virology Research Services Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Steve Pye & Co.
Chartered Certified Accountants
Unit 10 Aylsham Business Park
Richard Oakes Road
Aylsham
Norfolk
NR11 6FD
Virology Research Services Limited
Contents
Contents

| Page
--- | ---
Statement of Financial Position | 1—2
Notes to the Financial Statements | 3—5

Page 1
Virology Research Services Limited
Statement of Financial Position
As At 31 December 2024
Statement of Financial Position
Registered number: 11718460

| 2024 | 2023
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 700,943 |  | 799,130
|  |  | 700,943 |  | 799,130
CURRENT ASSETS
Debtors | 5 | 77,006 |  | 79,103 |
Cash at bank and in hand |  | 1,078,051 |  | 387,354 |
|  | 1,155,057 |  | 466,457 |
Creditors: Amounts Falling Due Within One Year | 6 | (198,223 ) |  | (68,948 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 956,834 |  | 397,509
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 1,657,777 |  | 1,196,639
PROVISIONS FOR LIABILITIES
Deferred Taxation |  |  | (47,450 ) |  | (39,633 )
NET ASSETS |  |  | 1,610,327 |  | 1,157,006
CAPITAL AND RESERVES
Called up share capital | 7 |  | 100 |  | 100
Income Statement |  |  | 1,610,227 |  | 1,156,906
SHAREHOLDERS' FUNDS |  |  | 1,610,327 |  | 1,157,006

Page 1
Page 2
Virology Research Services Limited
Statement of Financial Position (continued)
As At 31 December 2024
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board

Dr Michela Mazzon Director | Dr Chiara Mencarelli Director
21 February 2025

The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Virology Research Services Limited
Notes to the Financial Statements
For The Year Ended 31 December 2024
Notes to the Financial Statements
1. General Information
Virology Research Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11718460 . The registered office is B980, Cornforth Drive Kent Science Park, Sittingbourne, Kent, ME9 8PX. The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold | 10 year S/L
Plant & Machinery | 15 % R/B
Computer Equipment | 20 % R/B

2.4. Financial Instruments
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.
a) Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.
b) Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.
c) Impairment of financial assets
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
d) Trade and other creditors
Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.
Page 3
Page 4
Virology Research Services Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
2.5. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 7)
6 7
4. Tangible Assets

| Land & Property
--- | ---
| Leasehold | Plant & Machinery | Computer Equipment | Total
| £ | £ | £ | £
Cost
As at 1 January 2024 | 730,206 | 310,074 | 7,221 | 1,047,501
Additions | - | - | 189 | 189
As at 31 December 2024 | 730,206 | 310,074 | 7,410 | 1,047,690
Depreciation
As at 1 January 2024 | 146,041 | 97,864 | 4,466 | 248,371
Provided during the period | 73,021 | 23,873 | 1,482 | 98,376
As at 31 December 2024 | 219,062 | 121,737 | 5,948 | 346,747
Net Book Value
As at 31 December 2024 | 511,144 | 188,337 | 1,462 | 700,943
As at 1 January 2024 | 584,165 | 212,210 | 2,755 | 799,130

5. Debtors

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 57,365 |  | 60,742
Prepayments and accrued income | 19,641 |  | 18,361
| 77,006 |  | 79,103

6. Creditors: Amounts Falling Due Within One Year

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Trade creditors | 6,441 |  | 12,490
Corporation tax | 145,369 |  | 9,044
Other taxes and social security | 11,450 |  | 12,752
VAT | 23,617 |  | 21,948
Other creditors | - |  | 1,930
Accruals and deferred income | 4,850 |  | 3,927
Directors' loan accounts | 6,496 |  | 6,857
| 198,223 |  | 68,948

Page 4
Page 5
Virology Research Services Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
7. Share Capital

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 100 |  | 100

Page 5