Registration number:
Symbios UK Limited
for the Year Ended 31 December 2024
Symbios UK Limited
Contents
|
Company Information |
|
|
Statement of Director's Responsibilities |
|
|
Balance Sheet |
|
|
Notes to the Financial Statements |
Symbios UK Limited
Company Information
|
Directors |
F Ple |
|
Registered office |
|
|
Auditors |
|
Symbios UK Limited
Statement of Director's Responsibilities
The director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:
|
• |
select suitable accounting policies and apply them consistently; |
|
• |
make judgements and accounting estimates that are reasonable and prudent; |
|
• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006 and in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Symbios UK Limited
(Registration number: 06027651)
Balance Sheet as at 31 December 2024
|
Note |
2024 |
2023 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Current assets |
|||
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current liabilities |
( |
( |
|
|
Net liabilities |
( |
( |
|
|
Capital and reserves |
|||
|
Called up share capital |
|
|
|
|
Retained earnings |
( |
( |
|
|
Shareholders' deficit |
( |
( |
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
|
......................................... |
Symbios UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
|
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 were prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
The financial statements are prepared in sterling, which is the functional currency of the company.
Symbios UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Going concern
The main trading activities of Symbios UK Limited were transferred to a third party in January 2025 and the UK staff across accordingly.
The Directors however confirm that they are currently in the process of seeking to establish a sales licence relating to a key product, which is anticipated to become effective during 2026.
On this basis, the Directors envisage that the Company will have the opportunity to continue trading activities in respect of this key product and thereby generate future economic benefits.
In forming their assessment of the going concern basis of preparation, the Directors have considered the Company’s current financial position, cash flow forecasts, and the expected timing of establishing the licence.
The directors acknowledge the net liability position at the yearend of £609,166 (2023: £642,943). Included in creditors due within one year are amounts due to the parent company of £778,791 (2023 - £627,124). In the opinion of the directors, this loan will continue to be available for the foreseeable future and further amounts will be provided if required for cash flow purposes so that the company will be able to pay its other liabilities when they fall due.
Whilst continued support is provided from the parent company, uncertainties remain regarding the precise outcome of the licencing process, at the date of approval of these financial statements the Directors are of the opinion that it remains appropriate to prepare the financial statements on a going concern basis, as they have a reasonable expectation that the Company will be able to continue in operational existence and meet its liabilities as they fall due for a period of at least twelve months from the date of approval.
Audit report
Material uncertainty related to going concern
We draw your attention to the disclosures in Note 2 to the financial statements concerning the company’s ability to continue as a going concern and the uncertainties with regards to establishing a sales licence for a key product to continue generating future sales.
As stated therein, uncertainties remain regarding the precise outcome of the establishment of this licence however at the date of approval of these financial statements the Directors are of the opinion that it remains appropriate to prepare the financial statements on a going concern basis, as they have a reasonable expectation that the Company will be able to continue in operational existence and meet its liabilities as they fall due for a period of at least twelve months from the date of approval.
Our opinion is not modified in respect of this matter.
Emphasis of matter
Our opinion is not modified in respect to this matter.
The name of the Senior Statutory Auditor who signed the audit report on
Symbios UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Leasehold property improvements |
20% straight line basis |
|
Fixtures and fittings |
25% straight line basis |
|
Instruments |
20% straight line basis |
Cash and cash equivalents
Cash and cash equivalents comprise cash in hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Symbios UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
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.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
|
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
|
Tangible assets |
|
Leasehold property improvements |
Fixtures and fittings |
Instruments |
Total |
|
|
Cost or valuation |
||||
|
At 1 January 2024 |
|
|
|
|
|
Additions |
- |
|
- |
|
|
At 31 December 2024 |
|
|
|
|
|
Depreciation |
||||
|
At 1 January 2024 |
|
|
|
|
|
Charge for the year |
- |
|
|
|
|
At 31 December 2024 |
|
|
|
|
|
Carrying amount |
||||
|
At 31 December 2024 |
- |
|
|
|
|
At 31 December 2023 |
- |
|
|
|
Symbios UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Debtors |
|
Note |
2024 |
2023 |
|
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
|
|
|
Other debtors |
|
|
|
|
Prepayments and accrued income |
|
|
|
|
Total current trade and other debtors |
|
|
|
Creditors |
|
2024 |
2023 |
|
|
Due within one year |
||
|
Trade creditors |
|
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
|
|
Taxation and social security |
|
|
|
Other creditors |
|
|
|
Accrued expenses |
|
|
|
|
|
|
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet in respect of operating leases is £46,708 (2023 - £76,208).
Symbios UK Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Related party transactions |
Loans to related parties
|
2024 |
Other related parties |
Total |
|
At start of period |
|
|
|
Repaid |
( |
( |
|
At end of period |
- |
- |
|
|
||
|
2023 |
Other related parties |
Total |
|
At start of period |
|
|
|
At end of period |
|
|
|
|
||
Terms of loans to related parties
Summary of transactions with other related parties
The company has taken advantage of the exemption in FRS102 Section 1A from disclosing transactions with other members of the group.
|
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate controlling party is