Registration number:
Bio Scope 3 Ltd
for the Year Ended 31 December 2025
Bio Scope 3 Ltd
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Consolidated Profit and Loss Account |
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Consolidated Statement of Comprehensive Income |
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Consolidated Balance Sheet |
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Balance Sheet |
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Consolidated Statement of Changes in Equity |
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Statement of Changes in Equity |
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Consolidated Statement of Cash Flows |
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Notes to the Financial Statements |
Bio Scope 3 Ltd
Company Information
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Directors |
A C T Gomarsall J A Gomarsall N J Razey S Taylor |
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Registered office |
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Auditors |
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Bio Scope 3 Ltd
Strategic Report for the Year Ended 31 December 2025
The directors present their strategic report for the year ended 31 December 2025.
Principal activity
The principal activity of the group is Providing a cleaner, more sustainable way of recovering valuable metals.
Business Overview
Bio Scope 3 Limited (“Bio 3”) is the holding company for the Bio Scope 3 group of companies (“the Group”), which includes two wholly owned trading subsidiary companies, Network 2 Supplies Limited (“n2s”) and Bio Scope Technologies Limited (“Bio Tech”).
n2s is a market leader in IT Lifecycle Management, specialising in the sustainability, security and compliance challenges inherent in modern technology. Together, n2s and Bio Tech aim to transform the technology lifecycle, pioneering innovations, including precious metal recovery, to drive circularity in the IT and telecoms sectors. n2s is the first provider in this space to combine lifecycle management expertise with decarbonisation capabilities, enabling both SMEs and large enterprises to meet and report on their IT sustainability commitments. Bio Tech continues to expand its Research & Development capabilities, supported by extensive laboratory resources and developing production processes.
Objectives and Strategy
Group Objectives:
- Achieve year-on-year revenue growth of at least 15% year-on-year over the next three years.
- To work in collaboration with strategic partners to supply products and materials for sustainable recycling development projects
- To develop the recycling capabilities of its facility based in the Midlands
- To implement manageable value streams to determine the strengths and weaknesses of the business
- Develop and scale bio‑leaching technologies for production deployment.
Group Strategy:
To achieve these objectives, Bio 3 is:
- enhancing its dedicated science team to support Bio Tech’s technology and research ambitions moving into production.
- improve customer support and post-sale engagement through enhancements to the company’s operational structure.
Review of Business
Performance Summary:
Group revenues increased in 2025 to £16.0m, compared to £12.8m in 2024, driven primarily by an increase in large key contracts and sales of precious metals. This growth enabled the Group to reduce its Operating Loss from £2.9m in 2024 to £1.65m in 2025.
Key Performance Indicators (KPIs):
- Revenue growth: 25%
- Gross profit margin: 33%
- Customer retention rate: 88%
- New business: 12%
Bio Scope 3 Ltd
Strategic Report for the Year Ended 31 December 2025
Principal risks and uncertainties
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Risk |
Description |
Mitigation |
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Supply Chain Disruption |
Increased lead times for international deliveries |
Increased upfront payment and improved insurance policy |
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Regulatory Changes |
Environment Agency permit issuance |
Work closely with local authorities to ensure compliance |
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Cybersecurity |
Data breaches or ransomware attacks |
Upgraded IT systems, regular staff training, external audits |
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Intellectual Property |
Competitors replicating our developed technologies |
Patents applied for and introduction of internal IP Protection through policies and training |
Environmental, Social and Governance (ESG)
Environmental:
The Group reduced its carbon emissions year-on-year by switching to renewable energy at all its facilities.
Social:
The Group actively engaged in supporting its customers to deliver technology resource to under-privileged children. The Group increased its charitable donations in 2025 and is currently in the process of setting up a Charity Committee to diversify the recipients of its donations.
Governance:
A very strong working relationship exists between the Senior Leadership Team and the Board of Directors through daily communication and holding monthly Board meetings.
Future Outlook
The Group anticipates growth in the data decommissioning sector and will focus its sales and marketing teams in securing business in this area.
Expansion of the Group’s recycling facility in the Midlands will increase its hours of operation to boost revenues.
Significant funding of capital equipment to allow the implementation of bio leaching at full production scale.
Investments planned for 2026 include further upgrades to site security and enhanced management systems for HR, Finance and Operations to enable efficiencies to be realised.
Bio Scope 3 Ltd
Strategic Report for the Year Ended 31 December 2025
Section 172(1) statement
The directors of Bio Scope 3 Limited have acted in good faith to promote the success of the company for the benefit of its members, and in doing so have considered:
Long-term impact: All major decisions, including investment in automation and expansion, are assessed for long-term financial and environmental sustainability.
Employees: Regular town-hall meetings and anonymous surveys are used to engage employees and shape HR policy.
Business relationships: Strategic partnerships with key customers are nurtured through quarterly reviews and shared KPIs.
High standards of conduct: Regular review and update of Code of Conduct and whistleblowing policies.
Approved and authorised by the
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Bio Scope 3 Ltd
Directors' Report for the Year Ended 31 December 2025
The directors present their report and the for the year ended 31 December 2025.
Directors of the group
The directors who held office during the year were as follows:
Dividends
No dividends will be distributed for the year ended 31 December 2025.
Disclosure of information to the auditor
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
Approved and authorised by the
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Bio Scope 3 Ltd
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have 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 directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and the company and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Bio Scope 3 Ltd
Independent Auditor's Report to the Members of Bio Scope 3 Ltd
Opinion
We have audited the financial statements of Bio Scope 3 Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025, which comprise the Consolidated Profit and Loss Account, Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Changes in Equity, Statement of Changes in Equity, Consolidated Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the group's and the parent company's affairs as at 31 December 2025 and of the group's loss for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Bio Scope 3 Ltd
Independent Auditor's Report to the Members of Bio Scope 3 Ltd
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the parent company financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities [set out on page 6], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Bio Scope 3 Ltd
Independent Auditor's Report to the Members of Bio Scope 3 Ltd
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our cumulative audit and commercial knowledge and experience of the company and the sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, Taxation Legislation, General Data Protection Rules (GDPR), Anti-Bribery Act, Employment Law and Health & Safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected, and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions; and
- investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC and analysing legal costs to ascertain if there have been instances of non-compliance with laws and regulations.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Bio Scope 3 Ltd
Independent Auditor's Report to the Members of Bio Scope 3 Ltd
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
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For and on behalf of
Blacklands Way
Abingdon Business Park
Abingdon
Oxfordshire
OX14 1SY
Bio Scope 3 Ltd
Consolidated Profit and Loss Account for the Year Ended 31 December 2025
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Note |
2025 |
Restated |
|
|
Turnover |
|
|
|
|
Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Administrative expenses |
( |
( |
|
|
Exceptional costs |
( |
( |
|
|
Other operating income |
|
|
|
|
Operating loss |
( |
( |
|
|
Interest payable and similar expenses |
( |
( |
|
|
Loss before tax |
( |
( |
|
|
Tax on loss |
|
|
|
|
Loss for the financial year |
( |
( |
|
|
Profit/(loss) attributable to: |
|||
|
Owners of the company |
( |
( |
|
|
Minority interests |
( |
( |
|
|
( |
( |
The group has no recognised gains or losses for the year other than the results above.
Bio Scope 3 Ltd
Consolidated Statement of Comprehensive Income for the Year Ended 31 December 2025
|
2025 |
Restated |
|
|
Loss for the year |
( |
( |
|
Total comprehensive income for the year |
( |
( |
|
Total comprehensive income attributable to: |
||
|
Owners of the company |
( |
( |
|
Minority interests |
( |
( |
|
( |
( |
Bio Scope 3 Ltd
(Registration number: 13216336)
Consolidated Balance Sheet as at 31 December 2025
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Note |
2025 |
Restated |
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Fixed assets |
|||
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Intangible assets |
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Tangible assets |
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|
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Current assets |
|||
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Stocks |
|
|
|
|
Debtors |
|
|
|
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Cash at bank and in hand |
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|
|
|
|
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||
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Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current liabilities |
( |
( |
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
13 |
12 |
|
|
Share premium reserve |
5,743,857 |
5,289,993 |
|
|
Retained earnings |
(5,613,248) |
(3,481,856) |
|
|
Equity attributable to owners of the company |
130,622 |
1,808,149 |
|
|
Minority interests |
- |
(1,291,489) |
|
|
Shareholders' funds |
130,622 |
516,660 |
Approved and authorised by the
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Bio Scope 3 Ltd
(Registration number: 13216336)
Balance Sheet as at 31 December 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Investments |
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Current assets |
|||
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Debtors |
|
|
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Creditors: Amounts falling due within one year |
( |
( |
|
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Net current assets |
|
|
|
|
Net assets |
|
|
|
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Capital and reserves |
|||
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Called up share capital |
13 |
12 |
|
|
Share premium reserve |
5,743,857 |
5,289,993 |
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Retained earnings |
(547,528) |
(278,914) |
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Shareholders' funds |
5,196,342 |
5,011,091 |
The company made a loss after tax for the financial year of £268,614 (2024 - loss of £278,914).
Approved and authorised by the
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Bio Scope 3 Ltd
Consolidated Statement of Changes in Equity for the Year Ended 31 December 2025
Equity attributable to the parent company
|
Share capital |
Share premium |
Retained earnings |
Total |
Non-controlling interests - Equity |
Total equity |
|
|
At 1 January 2024 |
|
|
( |
|
- |
|
|
Loss for the year |
- |
- |
( |
( |
( |
( |
|
New share capital subscribed |
|
|
- |
|
- |
|
|
Transaction with non-controlling interest |
- |
- |
1,760,165 |
1,760,165 |
(770,165) |
990,000 |
|
At 31 December 2024 |
12 |
5,289,993 |
(3,481,856) |
1,808,149 |
(1,291,489) |
516,660 |
|
Share capital |
Share premium |
Retained earnings |
Total |
Non-controlling interests - Equity |
Total equity |
|
|
At 1 January 2025 |
|
|
( |
|
( |
|
|
Loss for the year |
- |
- |
( |
( |
( |
( |
|
New share capital subscribed |
|
|
- |
|
- |
|
|
Transaction with non-controlling interest |
- |
- |
(991,832) |
(991,832) |
1,991,831 |
999,999 |
|
At 31 December 2025 |
|
|
( |
|
- |
|
Bio Scope 3 Ltd
Statement of Changes in Equity for the Year Ended 31 December 2025
|
Share capital |
Share premium |
Retained earnings |
Total |
|
|
At 1 January 2024 |
|
|
- |
|
|
Loss for the year |
- |
- |
( |
( |
|
New share capital subscribed |
|
|
- |
|
|
At 31 December 2024 |
12 |
5,289,993 |
(278,914) |
5,011,091 |
|
Share capital |
Share premium |
Retained earnings |
Total |
|
|
At 1 January 2025 |
|
|
( |
|
|
Loss for the year |
- |
- |
( |
( |
|
New share capital subscribed |
|
|
- |
|
|
At 31 December 2025 |
|
|
( |
|
Bio Scope 3 Ltd
Consolidated Statement of Cash Flows for the Year Ended 31 December 2025
|
Note |
2025 |
2024 |
|
|
Cash flows from operating activities |
|||
|
Loss for the year |
( |
( |
|
|
Adjustments to cash flows from non-cash items |
|||
|
Depreciation and amortisation |
|
|
|
|
Profit on disposal of tangible assets |
( |
( |
|
|
Finance costs |
|
|
|
|
Income tax expense |
( |
( |
|
|
( |
( |
||
|
Working capital adjustments |
|||
|
Decrease/(increase) in stocks |
|
( |
|
|
Increase in trade debtors |
( |
( |
|
|
Increase in trade creditors |
|
|
|
|
Increase in deferred income, including government grants |
|
|
|
|
Cash generated from operations |
|
( |
|
|
Income taxes received |
|
- |
|
|
Net cash flow from operating activities |
|
( |
|
|
Cash flows from investing activities |
|||
|
Acquisitions of tangible assets |
( |
( |
|
|
Proceeds from sale of tangible assets |
|
|
|
|
Net cash flows from investing activities |
( |
( |
|
|
Cash flows from financing activities |
|||
|
Interest paid |
( |
( |
|
|
Proceeds from issue of ordinary shares, net of issue costs |
|
|
|
|
Payments to finance lease creditors |
( |
( |
|
|
Net cash flows from financing activities |
|
|
|
|
Net increase/(decrease) in cash and cash equivalents |
|
( |
|
|
Cash and cash equivalents at 1 January |
|
|
|
|
Cash and cash equivalents at 31 December |
1,932,985 |
422,426 |
|
Bio Scope 3 Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
|
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 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
In preparing the separate financial statements of Bio Scope 3 Ltd, advantage has been taken of the following disclosure exemptions available in FRS 102 on the basis the information is included in the consolidated financial statements:
- financial instrument disclosures (except for intercompany balances), including:
- categories of financial instruments;
- items of income, expenses, gains or losses relating to financial instruments; and
- exposure to and management of financial risks;
- share-based payment disclosures.
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 presented in sterling, which is the functional currency of the group.
Bio Scope 3 Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
Basis of consolidation
The consolidated financial statements incorporate the financial statements of the Company and entities controlled by the Group (its subsidiaries). Control is achieved where the Group has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Accounting policies consistent with those of the parent are used and all intra-group transactions, balances, income and expenses are eliminated in full on consolidation.
The as consolidated financial statements incorporate the results of business combinations using the purchase method outlined in the business combination policy in the note below. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
The results of subsidiaries acquired or disposed of during the year are included in the Profit and Loss Account from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.
The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.
Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.
Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.
Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.
Bio Scope 3 Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
Going concern
Having reviewed the projected results and cash flow forecasts of the Group the directors are confident that the Group will be able to meet its cash obligations in the foreseeable future. Whilst there is always considerable uncertainty in predicting cash flows more than a few months into the future, the directors are 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.
The shareholders have confirmed their continued support for the Group for a period of at least twelve months from the date of approving these financial statements.
Prior period restatements
The comparative figures have been restated in order to correctly reflect the non-controlling interests’ exposure to the liabilities and losses of subsidiary company Bio Scope Technologies Ltd.
Relating to the prior period disclosed in these financial statements | |
Share premium | (989,950) |
Non-controlling interests - balance sheet | (578,308) |
Retained earnings | 1,760,165 |
Loss attributable to non-controlling interests | (191,907) |
Judgements
No significant judgements have had to be made by management in preparing these financial statements. |
Key sources of estimation uncertainty
The Group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have the greatest level of uncertainty are addressed below:
(i) Impairment of debtors - £0.8m (2024: £1.4m)
The Group makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.
(ii) Accrued income - £1.4m (2024: £0.5m)
The Group’s revenue policies (set out in revenue recognition policy below) are fundamental to how the Group values the work it has carried out in each reporting period. Management will still use their judgement to set an estimated sales price based on market conditions as at the year-end date. The expected metal yield (recovery percentage) is estimated based on historical data for similar product grades processed by the Group.
Bio Scope 3 Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
Revenue recognition
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 Group's contractual obligations are performed over time therefore revenue is recognised as the contract activity progresses to reflect the Group's partial performance of its contractual obligations. Revenue is calculated by reference to the value of work performed.
Government grants
Government grants in respect of capital expenditure are credited to the profit and loss account over the estimated useful life of the relevant fixed assets. The grants shown in the balance sheet represent the total grants receivable to date less the amount so far credited to the profit and loss account. The grants re conditional and in certain circumstances repayment of all or part of the grant may be required.
Grants of a revenue nature are credited to the profit and loss account in the accounting period in which they are receivable.
If they relate to future periods an appropriate amount is deferred to future periods.
Foreign currency transactions and balances
Tax
The tax expense for the period comprises current tax payable and deferred tax.
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 group operates and generates taxable income.
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.
Bio Scope 3 Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
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:
Leasehold property costs - 10% on cost and 10% straight line
Plant and machinery - 10-25% on reducing balance and 25% on reducing balance
Equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance and Straight line over 7 years
Business combinations
Acquisitions of subsidiaries and businesses are accounted for using the purchase method. The cost of the business combination is measured at the aggregate of the fair values (at the date of exchange) of assets given, liabilities incurred or assumed, and equity instruments issued by the Group in exchange for control of the acquire, plus costs directly attributable to the business combination.
Any excess of the cost of the business combination over the Group's interest in the net fair value of the identifiable assets and liabilities is recognised as goodwill.
For the purpose of impairment testing, the goodwill acquired in a business combination is allocated, on acquisition date, to the cash generating units that are expected to benefit from the synergies of the combination.
Contingent consideration is included in the cost of the combination at the acquisition date if additional payment(s) is(are) probable and can be measured reliably. The liability is measured at the present value of the estimated future payment(s), using a discount rate reflecting conditions at the acquisition date. If the additional payment becomes probable and/or reliably measurable only after the acquisition date it is recognised as an adjustment to the cost of the combination and
goodwill at that time. Similarly, if estimated future payments are revised, for example due to the non-occurrence of future events that had been expected to occur, the resulting adjustment is recorded against goodwill. However, changes resulting from the unwinding of the discount are recognised in profit or loss.
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the group’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Bio Scope 3 Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
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.
Investments
Investments in subsidiary undertakings are recognised at cost.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Scrap Materials
This is weighed at year-end and a conservative scrap material price is used based on the current London Metal Exchange prices.
Resale Stock
This is second hand computer equipment for resale. The second hand computer equipment market can have variable prices due to demand and management use their judgement to set an estimated sales prices based on market conditions as at the year-end date. Then 25% of this is taken as the deemed purchase price for stock which is generally obtained from site clearances.
Any purchased stock is shown at the lower of cost and net realisable value.
Any items which become obsolete due to advances in technology are written down on a quarterly basis.
Work in Progress
This is resale stock from site clearances yet to pass testing to ensure it is of an acceptable standard for resale. Management will still use their judgement to set an estimated sales price based on market conditions as at the year-end date. Then 25% of this is taken as the deemed purchase price.
Stock which passes testing will go into resale stock and the deemed purchase price increased to 60% of estimated sales price. Stock which is not of an acceptable standard for resale will be scrapped for minimal value.
Leases
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Bio Scope 3 Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
Dividends
Dividend distribution to the group’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.
|
Turnover |
The analysis of the group's Turnover for the year from continuing operations is as follows:
|
2025 |
2024 |
|
|
Sale of goods |
|
|
|
Other operating income |
The analysis of the group's other operating income for the year is as follows:
|
2025 |
2024 |
|
|
Government grants |
- |
|
|
Rental income |
|
|
|
|
|
|
Operating loss |
Arrived at after charging/(crediting)
|
2025 |
2024 |
|
|
Depreciation expense |
|
|
|
Amortisation expense |
|
|
|
Foreign exchange losses |
|
|
|
Profit on disposal of property, plant and equipment |
( |
( |
|
Exceptional items |
The exceptional items disclosed relate to development costs, pre 2025 historic waste disposal and exceptional employment costs.
Bio Scope 3 Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
|
Interest expense on other finance liabilities |
|
|
|
|
|
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Other short-term employee benefits |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
Other employee expense |
|
|
|
|
|
The average number of persons employed by the group (including directors) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Direct |
|
|
|
Sales |
|
|
|
Administration and management |
|
|
|
|
|
Bio Scope 3 Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
514,167 |
734,926 |
In respect of the highest paid director:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Company contributions to money purchase pension schemes |
|
|
|
Auditors' remuneration |
|
2025 |
2024 |
|
|
Audit of these financial statements |
45,000 |
38,003 |
Bio Scope 3 Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Taxation |
Tax charged/(credited) in the consolidated profit and loss account
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
( |
- |
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
|
( |
|
Tax receipt in the income statement |
( |
( |
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2024 - the same as the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
2024 |
|
|
Loss before tax |
( |
( |
|
Corporation tax at standard rate |
( |
( |
|
Tax increase/(decrease) from effect of capital allowances and depreciation |
|
( |
|
Effect of expense not deductible in determining taxable profit (tax loss) |
( |
|
|
Tax decrease arising from group relief |
( |
- |
|
Increase in UK and foreign current tax from unrecognised tax loss or credit |
|
|
|
Deferred tax expense/(credit) from unrecognised temporary difference from a prior period |
|
( |
|
Tax decrease from effect of adjustment in research and development tax credit |
( |
- |
|
Total tax credit |
( |
( |
Bio Scope 3 Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Intangible assets |
Group
|
Goodwill |
Total |
|
|
Cost or valuation |
||
|
At 1 January 2025 |
|
|
|
At 31 December 2025 |
|
|
|
Amortisation |
||
|
At 1 January 2025 |
|
|
|
Amortisation charge |
|
|
|
At 31 December 2025 |
|
|
|
Carrying amount |
||
|
At 31 December 2025 |
|
|
|
At 31 December 2024 |
|
|
Bio Scope 3 Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Tangible assets |
Group
|
Leasehold property costs |
Plant and machinery |
Equipment |
Motor vehicles |
Total |
|
|
Cost or valuation |
|||||
|
At 1 January 2025 |
|
|
|
|
|
|
Additions |
|
|
|
|
|
|
Disposals |
- |
- |
- |
( |
( |
|
At 31 December 2025 |
|
|
|
|
|
|
Depreciation |
|||||
|
At 1 January 2025 |
|
|
|
|
|
|
Charge for the year |
|
|
|
|
|
|
Eliminated on disposal |
- |
- |
- |
( |
( |
|
At 31 December 2025 |
|
|
|
|
|
|
Carrying amount |
|||||
|
At 31 December 2025 |
|
|
|
|
|
|
At 31 December 2024 |
|
|
|
|
|
Included within the net book value of land and buildings above is £439,814 (2024 - £406,741) in respect of long leasehold land and buildings.
Assets held under finance leases and hire purchase contracts
The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:
|
2025 |
2024 |
|
|
Leasehold property costs |
28,096 |
31,801 |
|
Plant and machinery |
42,996 |
107,632 |
|
Motor vehicles |
164,020 |
225,092 |
|
235,112 |
364,525 |
Bio Scope 3 Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Investments |
Company
|
2025 |
2024 |
|
|
Investments in subsidiaries |
|
|
|
Subsidiaries |
£ |
|
Cost or valuation |
|
|
At 1 January 2025 |
|
|
Additions |
|
|
At 31 December 2025 |
|
|
Provision |
|
|
Carrying amount |
|
|
At 31 December 2025 |
|
|
At 31 December 2024 |
|
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
|
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
|
2025 |
2024 |
|||
|
Subsidiary undertakings |
||||
|
|
Network House, Western Way, Bury St Edmunds, Suffolk, IP33 3SP |
|
|
|
|
|
Network House, Western Way, Bury St Edmunds, Suffolk, IP33 3SP |
|
|
|
|
Subsidiary undertakings |
|
Network 2 Supplies Ltd The principal activity of Network 2 Supplies Ltd is |
|
Bioscope Technologies Ltd The principal activity of Bioscope Technologies Ltd is |
Bio Scope 3 Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Stocks |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Other inventories |
|
|
- |
- |
Group
|
Debtors |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Trade debtors |
|
|
- |
- |
|
Amounts owed by intercompany undertakings |
- |
- |
|
|
|
Other debtors |
|
|
|
|
|
Prepayments and accrued income |
|
|
- |
- |
|
|
|
|
|
|
|
Cash and cash equivalents |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Cash at bank |
|
|
- |
- |
Bio Scope 3 Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Creditors |
|
Group |
Company |
||||
|
Note |
2025 |
2024 |
2025 |
2024 |
|
|
Due within one year |
|||||
|
Loans and borrowings |
|
|
- |
- |
|
|
Trade creditors |
|
|
- |
|
|
|
Amounts owed to intercompany undertakings |
- |
- |
|
- |
|
|
Social security and other taxes |
|
|
- |
- |
|
|
Outstanding defined contribution pension costs |
|
- |
- |
- |
|
|
Directors' current accounts |
|
|
|
|
|
|
Accruals |
|
|
- |
|
|
|
Income tax liability |
127,904 |
- |
- |
- |
|
|
Deferred income |
|
|
- |
- |
|
|
|
|
|
|
||
|
Due after one year |
|||||
|
Loans and borrowings |
|
|
- |
- |
|
|
Provisions for liabilities |
Group
|
Deferred tax |
Total |
|
|
At 1 January 2025 |
|
|
|
Increase (decrease) in existing provisions |
|
|
|
At 31 December 2025 |
|
|
|
|
||
Bio Scope 3 Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Pension and other schemes |
Defined contribution pension scheme
The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £
Contributions totalling £
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
Ordinary A of £0.0001 each |
94,914 |
9 |
75,750 |
8 |
|
Ordinary B of £0.0001 each |
35,766 |
4 |
35,000 |
4 |
|
|
|
|
|
|
On 18 February 2025 3,334 A Ordinary Shares of £0.0001 each were issued for consideration of £120 per share which amounts to £400,080.
On 30 November 2025 a share for share transfer occurred where the shares held by the non-controlling interest in Bio Scope Technologies Limited were transferred for an issue of shares in the company. 14,482 A Ordinary Shares and 766 B Ordinary Shares were issued as part of the transfer.
On 30 November 2025 1,348 A Ordinary Shares were issued to a director for a total consideration of £53,785.
Both classes of shares carry equal voting rights, rank pari passu with any ordinary shares as to rights to dividends, distributions and capital distributions. All shares are non-redeemable.
Bio Scope 3 Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Minority interests |
On 18 February 2025, shares were issued in a subsidiary as part of a debt for equity swap. Three directors acquired 5,000 ordinary A shares of £1 each and the company acquired 2,000 ordinary A shares (7,000 shares in total), aggregate par value of £70, meaning directors now held a 45.3% non-controlling interest in the subsidiary undertaking, Bio Scope Technologies Limited. The shares acquired have full voting rights, rank pari passu with any ordinary shares as to rights to dividends, distributions and capital distributions. All shares are non-redeemable.
On 30 November 2025 a share for share transfer occurred where the shares held by the directors in Bio Scope Technologies Limited were transferred for shares in the company. As a result at the year end there was no non-controlling interest at the year end.
£ 700,342 of the loss made by the Group in 2025 is attributable to these non-controlling parties.
|
Loans and borrowings |
Non-current loans and borrowings
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Hire purchase contracts |
|
|
- |
- |
Current loans and borrowings
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Hire purchase contracts |
|
|
- |
- |
The hire purchase contracts and finance leases are secured on the underlying assets.
|
Obligations under leases and hire purchase contracts |
Group
Operating leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
|
|
Bio Scope 3 Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Related party transactions |
Group
|
Transactions with directors |
|
2025 |
At 1 January 2025 |
Amount advanced |
Amounts |
At 31 December 2025 |
|
A C T Gomarsall |
||||
|
|
- |
|
( |
- |
|
J A Gomarsall |
||||
|
|
- |
|
( |
- |
|
2024 |
At 1 January 2024 |
Amounts advanced |
Amounts |
At 31 December 2024 |
|
A C T Gomarsall |
||||
|
|
- |
|
( |
- |
|
J A Gomarsall |
||||
|
|
|
|
( |
- |
Mr J A Gomarsall
The premises from which the company trades was acquired by J A Gomarsall and M Fennings, a former director of the immediate parent company, during 2012. The company has a fifteen year lease with a current rent of £242,599 per annum. During the year the total rent paid to J A Gomarsall and M Fennings was £242,599 (2024: £242,599). At the year end £0 (2024: £40,417) is unpaid.
J A Gomarsall had a loan with the group. During the year £100,000 was repaid. At the balance sheet date a balance of £471,927 (2024:£537,253) was owed to J A Gomarsall. The loan is unsecured.
Interest of £34,674 at a rate of 7.25% was paid on the loan.
Me N J Razey
N J Razey had a loan with the group. During the year N J Razey advanced £405,000 to the group and £650,040 was repaid. At the balance sheet date a balance of £2,681,032 (2024:£2,734,429) was owed to N J Razey. The loan is unsecured.
Interest of £191,643 at a rate of 7.25% was paid on the loan.
Mr S Taylor
Bio Scope 3 Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
S Taylor had a loan with the group. During the year S Taylor advanced £430,000 to the group and £917,304 was repaid. At the balance sheet date a balance of £2,652,571 (2024:£2,965,118) was owed to S Taylor. The loan is unsecured.
Interest of £174,757 at a rate of 7.25% was paid on the loan.
Mr R K Edwards
During the year charges of £39,297 have been made by Ezro Limited which has a director and shareholder in common. £2,048 was outstanding at the year end.
|
Ultimate controlling parties |
There are no individual controlling parties.