REGISTERED NUMBER: NI642755 (Northern Ireland)

Financial Statements for the Year Ended 31 December 2024

for

Biorex Food Diagnostics Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Dr M Afrasiabi

Dr Z Zolnourian

SECRETARY:

Dr Z Zolnourian

REGISTERED OFFICE:

9a The Technology Park

Antrim

BT41 1QS

REGISTERED NUMBER:

NI642755 (Northern Ireland)

AUDITORS:

Cleaver Black

Chartered Accountants

Registered Auditors

Suite 5 Ormeau House

91-97 Ormeau Road

Belfast

Co. Antrim

BT7 1SH

BANKERS:

Danske Bank

1-2 Broadway

Ballymena

BT43 7AA

SOLICITORS:

Conway Todd & Co

Mirtna Buildings

22 Market Square

Antrim

BT41 4DT

FIXED ASSETS

Tangible assets

4

-

9,287

CURRENT ASSETS

Stocks

5

65,426

28,070

Debtors

6

164,111

9,751

Cash at bank

75,471

142,536

305,008

180,357

CREDITORS

Amounts falling due within one year

7

(688,571

)

(391,981

)

NET CURRENT LIABILITIES

(383,563

)

(211,624

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(383,563

)

(202,337

)

CAPITAL AND RESERVES

Called up share capital

1

1

Share premium

43,477

43,477

Retained earnings

(427,041

)

(245,815

)

(383,563

)

(202,337

)

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 17 September 2025 and were signed on its behalf by:

Dr M Afrasiabi - Director

Dr Z Zolnourian - Director

1.	STATUTORY INFORMATION

Biorex Food Diagnostics Limited is a private company, limited by shares , registered in Northern Ireland. 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries of Fortress Group Holdings Ltd..

Revenue

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

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the

Company and the revenue can be reliably measured. Revenue is measured as the fair value of the

consideration received or receivable, excluding discounts, rebates, value added tax and other sales

taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

1

The Company has transferred the significant risks and rewards of ownership to the buyer;

2

The Company retains neither continuing managerial involvement to the degree usuallyassociated with ownership nor effective control over the goods sold;

3

The amount of revenue can be measured reliably;

4

It is probable that the Company will receive the consideration due under the transaction; and

5

The costs incurred or to be incurred in respect of the transaction can be measured reliably.

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

-

15% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Going concern

The directors of Biorex Food Diagnostics Limited have reviewed the resources available, both at a

company level and as part of the wider Fortress Group. The directors believe that the company and

group have adequate resources to continue in operational existence for the foreseeable future.

Accordingly, Biorex Food Diagnostics Limited continue to adopt the going concern basis in

preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2024

and 31 December 2024

115,598

DEPRECIATION

At 1 January 2024

106,311

Charge for year

9,287

At 31 December 2024

115,598

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

9,287

5.

STOCKS

2024

2023

£

£

Finished goods

65,426

28,070

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

10,431

9,751

Amounts owed by group undertakings

153,513

-

Other debtors

167

-

164,111

9,751

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

622,132

391,510

VAT

371

371

Other creditors

-

100

Accruals

66,068

-

688,571

391,981

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Anthony Bradley FCA (Senior Statutory Auditor)

for and on behalf of Cleaver Black

9.	ULTIMATE PARENT UNDERTAKING

During the year the company continued to be a wholly owned subsidiary of Fortress Group Holdings Limited, a company incorporated in Northern Ireland.