Registration number: 05359946

Precision Cellular Storage Ltd.

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 4

Precision Cellular Storage Ltd.

(Registration number: 05359946)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Current assets
Debtors	4	95,899	106,179
Creditors: Amounts falling due within one year	5	(168,194)	(112,120)
Total assets less current liabilities		(72,295)	(5,941)
Creditors: Amounts falling due after more than one year	5	(25,774)	(32,537)
Net liabilities		(98,069)	(38,478)
Capital and reserves
Called up share capital		10,000	10,000
Other reserves		2,763,615	2,763,615
Retained earnings		(2,871,684)	(2,812,093)
Shareholders' deficit		(98,069)	(38,478)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 September 2025 and signed on its behalf by:
 

......................................... Dr Danny Ramadan Director

Precision Cellular Storage Ltd.

Notes to the Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
24 Brest Road
Derriford
Plymouth
PL6 5XP

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company incurred a net loss in the period of £59,591 (2023: £57,086) and has net liabilities at the balance sheet date of £98,069.

The financial statements have been prepared on a going concern basis which the directors consider to be appropriate due to the immediate parent undertaking having pledged its financial support to the company for a period of at least 12 months from the date of approval of these financial statements.

The company has entered into a long-term agreement with a private human tissue bank to satisfy its obligations for the storage of stem cells. As per note 7, the company's financial commitment in this respect is £519,000 (2023: £549,000). As the company is providing storage only to historic customers, it is reliant on its immediate parent undertaking to continue to meet its financial obligations under this contract as well as covering other operating expenditure.

The financial position of the immediate parent undertaking to provide this support represents a material uncertainty that may cast significant doubt on the company's ability to continue as a going concern and, therefore, to continue realising its assets and discharging its liabilities in the normal course of business. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 30 September 2025 was Dean Blunden BFP FCA, who signed for and on behalf of UHY Ross Brooke.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Precision Cellular Storage Ltd.

Notes to the Financial Statements for the Year Ended 31 December 2024

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Debtors

	2024 £	2023 £
Other debtors	95,899	106,179
	95,899	106,179

Details of non-current trade and other debtors

£85,618 (2023 -£95,898) of other debtors is classified as non current.

Precision Cellular Storage Ltd.

Notes to the Financial Statements for the Year Ended 31 December 2024

5

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Trade creditors		14,400	12,658
Amounts owed to related parties	7	138,768	86,081
Other creditors		15,026	13,381
		168,194	112,120