REGISTERED NUMBER: 13876617 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Bio Scope Technologies Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J A Gomarsall

N J Razey

R K Edwards

R Bolton

REGISTERED OFFICE:

Eldo House

Kempson Way

Bury St. Edmunds

Suffolk

IP32 7AR

REGISTERED NUMBER:

13876617 (England and Wales)

SENIOR STATUTORY AUDITOR:

James Knights BSc FCA

AUDITORS:

Knights Lowe Limited

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

FIXED ASSETS

Tangible assets

4

1,763,480

1,277,837

CURRENT ASSETS

Stocks

862,100

248,230

Debtors

5

277,046

167,480

Cash at bank

76,440

19,073

1,215,586

434,783

CREDITORS

Amounts falling due within one year

6

6,879,623

4,441,872

NET CURRENT LIABILITIES

(5,664,037

)

(4,007,089

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,900,557

)

(2,729,252

)

CAPITAL AND RESERVES

Called up share capital

8

150

100

Share premium

989,951

-

Retained earnings

(4,890,658

)

(2,729,352

)

SHAREHOLDERS' FUNDS

(3,900,557

)

(2,729,252

)

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 26 September 2025 and were signed on its behalf by:

R Bolton - Director

1.	STATUTORY INFORMATION

Bio Scope Technologies 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going Concern

Having reviewed the projected results and cash flow forecasts of the company the directors are confident that the company will be able to meet its cash obligations in the foreseeable future.

The company is in an intensive phase of research and development that brings a requirement for funds in addition to that needed for day to day trading. This funding has been provided in the year by the directors, shareholders and the parent company via both capital and loan funding. The company has the continued support of these stakeholders, who are committed to supporting the company as necessary through this phase.

The directors are therefore confident that the cash demands of the company will be satisfied, and it is therefore appropriate to prepare the financial statements on the going concern basis.

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 within the group.

Turnover

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

Turnover represents the sales value of work completed at the balance sheet date excluding VAT. The Company's contractual obligations are performed over time therefore revenue is recognised as the contract activity progresses to reflect the Company's partial performance of its contractual obligations. Revenue is calculated by reference to the value of work performed.

Tangible fixed assets

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

Leasehold property

-

10% straight line

Plant and machinery

-

25% on reducing balance

Equipment

-

15% on reducing balance

Stocks

There are different types of stock that the company hold which are valued as follows:

Recycling material

This is weighed at year-end and valued at cost per kilogram.

Work In Progress

Recycling material that is part way through the refining process is weighed at the year end, and a cost applied based on the original cost of the recycling material being processed. This cost does not include the cost of the processing or any overhead absorption.

Finished Goods

Any finished goods that consists of fully processed material is weighed at year-end and a conservative scrap material price is used based on the current London Metal Exchange prices.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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.

Impairment

At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

1,651,042

Additions

844,318

At 31 December 2024

2,495,360

DEPRECIATION

At 1 January 2024

373,205

Charge for year

358,675

At 31 December 2024

731,880

NET BOOK VALUE

At 31 December 2024

1,763,480

At 31 December 2023

1,277,837

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Trade debtors

1,081

-

Other debtors

275,965

167,480

277,046

167,480

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Trade creditors

148,885

36,264

Amounts owed to group undertakings

6,368,965

4,044,787

Taxation and social security

34,083

17,832

Other creditors

327,690

342,989

6,879,623

4,441,872

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

as restated

£

£

Within one year

125,000

125,000

Between one and five years

177,083

302,083

302,083

427,083

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

as restated

£

£

100

Ordinary

£1

-

100

14,950

Ordinary

£0.01

150

-

150

100

On 8 May 2024 the existing class of 100 Ordinary Shares of £1 each were subdivided into 10,000 Ordinary Shares of £0.01 each .

On 8 May 2024 4,950 Ordinary Shares of £0.01 each were issued for consideration of £200 per share which amounts to £990,000.

On 18 February 2025 7,000 Ordinary Shares of £0.01 each were issued for consideration of £200 per share which amounts to £1,400,000.

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

The Report of the Auditors was unqualified.

James Knights BSc FCA (Senior Statutory Auditor)

for and on behalf of Knights Lowe Limited

10.	PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £28,936 (2023 £34,454). Contributions totalling £4,789 (2023 £Nil) were payable to the fund at the balance sheet date and included in creditors.

11.	CAPITAL COMMITMENTS

2024

2023

as restated

£

£

Contracted but not provided for in the

financial statements

-

178,604

12.	RELATED PARTY DISCLOSURES

During the year, a debt for equity swap took place where debt in Bio Scop 3 Ltd was converted to equity in Bio Scope Technologies Ltd. See note 10 for details.

13.	ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent undertaking is Bio Scope 3 Ltd.

There are no individual controlling parties.

14.	SHARE-BASED PAYMENT TRANSACTIONS

The company operates an Unapproved Share Scheme under which share options were granted to employees to incentivise and retain key staff.

Options vest upon an exit event. They lapse if the employee resigns or are dismissed.

The fair value of the options granted has been measured at the grant date and will be accounted for in accordance with Section 26 of FRS 102 - Share-based Payment. The share-based payment expense will be recognised in the profit and loss account over the vesting period.

As there is currently no reliable basis to determine a probable valuation or timing of a vesting date, no expense has been recognised in the current year. The total recognised expense for the current year is £nil.