ACCOUNTS - Final Accounts

Registered number: 07580832

SPOTON CLINICAL DIAGNOSTICS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

SPOTON CLINICAL DIAGNOSTICS LIMITED

REGISTERED NUMBER: 07580832

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		78,591		90,991
Current assets
Stocks	5	38,744		20,903
Debtors: amounts falling due after more than one year	6	7,600		7,600
Debtors: amounts falling due within one year	6	142,541		146,589
Cash at bank and in hand	7	765,588		630,346
		954,473		805,438
Creditors: amounts falling due within one year	8	(120,762)		(47,239)
Net current assets			833,711		758,199

Net assets			912,302		849,190

Capital and reserves
Called up share capital	9	235	235
Share premium account		139,896	139,896
Profit and loss account		772,171	709,059
		912,302	849,190

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SPOTON CLINICAL DIAGNOSTICS LIMITED

REGISTERED NUMBER: 07580832

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2025

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

C Turner	Prof. R N Dalton
Director	Director

Date: 22 July 2025

The notes on pages 3 to 9 form part of these financial statements.

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SPOTON CLINICAL DIAGNOSTICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Spoton Clinical Diagnostics Limited is a private limited company incorporated in England and Wales. The address of the registered office is Suite 10, First Floor, Qmb Innovation Centre, 42 New Road, London,
E1 2AX. The principal activity of the company is clinical diagnostic testing, reagent provision, and analytical support.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

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SPOTON CLINICAL DIAGNOSTICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.3

Revenue

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:

∙the company has transferred the significant risks and rewards of ownership to the buyer;

∙the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the company will receive the consideration due under the transaction; and

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

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

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SPOTON CLINICAL DIAGNOSTICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.7

Tangible fixed assets

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 the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:.

Plant & machinery

20%

straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of comprehensive income.

2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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SPOTON CLINICAL DIAGNOSTICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.12

Financial instruments

Financial instruments are recognised in the company's Statement of Financial Position when the company becomes party to the contractual provisions of the instrument.

2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

4.	Tangible fixed assets

		Plant and machinery
		£
	Cost or valuation
	At 1 April 2024	379,159
	Additions	9,968
	At 31 March 2025	389,127
	Depreciation
	At 1 April 2024	288,168
	Charge for the year on owned assets	22,368
	At 31 March 2025	310,536
	Net book value
	At 31 March 2025	78,591
	At 31 March 2024	90,991

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SPOTON CLINICAL DIAGNOSTICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

5.	Stocks
		2025	2024
		£	£

Finished goods and goods for resale	38,744	20,903
	38,744	20,903

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SPOTON CLINICAL DIAGNOSTICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

6.	Debtors
		2025	2024
		£	£

Due after more than one year
Other debtors	7,600	7,600
	7,600	7,600

					2025	2024
					£	£

Due within one year
Trade debtors	133,027	126,800
Other debtors	-	9,120
Prepayments and accrued income	9,514	10,669
	142,541	146,589

7.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	765,588	630,346
	765,588	630,346

8.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Corporation tax	87,365	24,113
Other taxation and social security	17,056	3,781
Accruals and deferred income	16,341	19,345
	120,762	47,239

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SPOTON CLINICAL DIAGNOSTICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

9.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

141,036 (2024 - 141,036) Ordinary subscriber shares of £0.0010 each	141	141
94,024 (2024 - 94,024) Ordinary shares of £0.0010 each	94	94

	235	235

10.	Controlling party

There is no ultimate controlling party

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