Company registration number: 14690170
Unaudited financial statements
for the period ended 28 August 2025
for
Gitlife Biotech Ltd
Pages for filing with the Registrar
Company registration number: 14690170
Gitlife Biotech Ltd
Balance sheet
as at 28 August 2025
28 Aug 25 29 Feb 24
Note £ £ £ £
Fixed assets
Intangible assets 4 6,655 1,615
Tangible assets 5 5,239 809
11,894 2,424
Current assets
Debtors 2,258 36,992
Cash at bank and in hand 33,458 316,720
35,716 353,712
Creditors: amounts falling due within one
year 		(18,200) (50,033)
Net current assets 17,516 303,679
Total assets less current liabilities 29,410 306,103
Provisions for liabilities (2,974) -
NET ASSETS 26,436 306,103
Capital and reserves
Called up share capital 108 108
Share premium account 510,064 510,064
Profit and loss account (483,736) (204,069)
TOTAL EQUITY 26,436 306,103
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the period ended 28 August 2025.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
1
Company registration number: 14690170
Gitlife Biotech Ltd
Balance sheet - continued
as at 28 August 2025
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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 18 November 2025 and signed on its behalf by:
Mr A Ewing, Director
18 November 2025
2
Gitlife Biotech Ltd
Notes to the financial statements
for the period ended 28 August 2025
1 Company information
Gitlife Biotech Ltd is a private company registered in England and Wales. Its registered number is 14690170. The company is limited by shares. Its registered office is 3rd Floor Maybrook House, 27-35 Grainger Street, Newcastle Upon Tyne, NE1 5JE.
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 historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Patents & licences - 15 years on straight line basis
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Computer equipment - 3 years on straight line basis
3
Gitlife Biotech Ltd
Notes to the financial statements - continued
for the period ended 28 August 2025
2 Accounting policies - continued
Taxation
Taxation for the period comprises current and deferred taxation. Tax is recognised in the Profit and loss account, 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 taxation
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 been enacted or substantively enacted by the balance sheet date 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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the period the average number of employees was 6 (2024 - 3).
4 Intangible assets
Other
intangible
assets
£
Cost
At 1 March 2024 1,660
Additions 5,235
At 28 August 2025 6,895
Amortisation
At 1 March 2024 45
Charge for period 195
At 28 August 2025 240
4
Gitlife Biotech Ltd
Notes to the financial statements - continued
for the period ended 28 August 2025
4 Intangible assets - continued
Net book value
At 28 August 2025 6,655
At 29 February 2024 1,615
5 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 March 2024 940
Additions 6,549
At 28 August 2025 7,489
Depreciation
At 1 March 2024 131
Charge for period 2,119
At 28 August 2025 2,250
Net book value
At 28 August 2025 5,239
At 29 February 2024 809
5