CREONATE MANUFACTURING LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1ST OCTOBER 2024 TO 31ST DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Accountants' Report

7

DIRECTORS:

K P Woolston

E R Long

E H M Schropp

REGISTERED OFFICE:

Building 148

Bedford Technology Park

Thurleigh

Bedford

Bedfordshire

MK44 2YA

REGISTERED NUMBER:

14344566 (England and Wales)

ACCOUNTANTS:

HW Bedford Limited

Trading as Haines Watts

First Floor, Woburn Court

2 Railton Road

Woburn Rd Ind Est

Kempston

Bedfordshire

MK42 7PN

FIXED ASSETS

Tangible assets

4

3,466,590

3,565,283

Investments

5

-

1

3,466,590

3,565,284

CURRENT ASSETS

Stocks

212,514

212,514

Debtors

6

27,243

144,983

239,757

357,497

CREDITORS

Amounts falling due within one year

7

2,659,672

2,574,308

NET CURRENT LIABILITIES

(2,419,915

)

(2,216,811

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,046,675

1,348,473

CREDITORS

Amounts falling due after more than one year

8

551,229

569,353

NET ASSETS

495,446

779,120

CAPITAL AND RESERVES

Called up share capital

9

675,000

675,000

Retained earnings

(179,554

)

104,120

SHAREHOLDERS' FUNDS

495,446

779,120

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31st 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22nd September 2025 and were signed on its behalf by:

K P Woolston - Director

1.	STATUTORY INFORMATION

Creonate Manufacturing 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Tangible fixed assets

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

Short leasehold

-

straight line over lease term

Plant and machinery

-

10% on cost

Computer equipment

-

33% on cost and 20% on cost

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to location and condition necessary for it to be capable of operating the matter intended by management.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation

Taxation for the period 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Short

Plant and

Computer

leasehold

machinery

equipment

Totals

£

£

£

£

COST

At 1st October 2024

1,836,180

1,706,452

22,651

3,565,283

Additions

-

667

-

667

At 31st December 2024

1,836,180

1,707,119

22,651

3,565,950

DEPRECIATION

Charge for period

55,085

42,678

1,597

99,360

At 31st December 2024

55,085

42,678

1,597

99,360

NET BOOK VALUE

At 31st December 2024

1,781,095

1,664,441

21,054

3,466,590

At 30th September 2024

1,836,180

1,706,452

22,651

3,565,283

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st October 2024

1

Impairments

(1

)

At 31st December 2024

-

NET BOOK VALUE

At 31st December 2024

-

At 30th September 2024

1

In September 2022, the company acquired the whole interest in Global Access Diagnostics Limited ( a company limited by guarantee).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2024

£

£

Trade debtors

27,070

144,983

VAT

173

-

27,243

144,983

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2024

£

£

Other loans

675,500

520,500

Trade creditors

530,610

450,002

Amounts owed to participating interests

-

98,603

Accruals and deferred income

1,453,562

1,505,203

2,659,672

2,574,308

Other loans include shareholders' loans. The loans are interest free and have no repayment date.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2024

£

£

Other loans - 1-2 years

80,375

77,158

Preference shares

350,000

350,000

Other loans - 2-5 years

120,854

142,195

551,229

569,353

Included in other loans is the Praetura loan repayable over 2 years.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2024

value:

£

£

675,000

Ordinary

1

675,000

675,000

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr M Davis and Prof. P Davis.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Creonate Manufacturing Ltd for the period ended 31st December 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Creonate Manufacturing Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Creonate Manufacturing Ltd and state those matters that we have agreed to state to the Board of Directors of Creonate Manufacturing Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Creonate Manufacturing Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Creonate Manufacturing Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Creonate Manufacturing Ltd. You consider that Creonate Manufacturing Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Creonate Manufacturing Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

HW Bedford Limited

Trading as Haines Watts

First Floor, Woburn Court

2 Railton Road

Woburn Rd Ind Est

Kempston

Bedfordshire

MK42 7PN

23rd September 2025