Clinty Laboratories Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI670153

Clinty Laboratories Limited

Filleted Financial Statements

31 August 2025

Clinty Laboratories Limited

Statement of Financial Position

31 August 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	687,341	442,393

Current assets

Debtors	6	234,364	68,866
Cash at bank and in hand		37,827	29,971
		---------	--------
		272,191	98,837

Creditors: amounts falling due within one year	7	1,211,927	764,580
		------------	---------
Net current liabilities		939,736	665,743
		---------	---------
Total assets less current liabilities		( 252,395)	( 223,350)
		---------	---------
Net liabilities		( 252,395)	( 223,350)
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 252,495)	( 223,450)
	---------	---------
Shareholders deficit	( 252,395)	( 223,350)
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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.

These financial statements were approved by the board of directors and authorised for issue on 28 November 2025 , and are signed on behalf of the board by:

Mr J Stevenson

Director

Company registration number: NI670153

Clinty Laboratories Limited

Notes to the Financial Statements

Year ended 31 August 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Linenhall Exchange, 1st Floor, 26 Linenhall Street, Belfast, BT2 8BG, Northern Ireland.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

These financial statements have been prepared on a going concern basis as the company has received assurances from its related undertakings that they will continue to provide financial support to the company for a period of at least 12 months from the date these financial statements were signed.

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.

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.

Creditors

Short-term creditors are measured at 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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	6% straight line
Fixtures and fittings	-	20% straight line
Equipment	-	33 % straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2024: 3 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 September 2024	562,833	31,885	3,967	598,685
Additions	350,425	21,250	–	371,675
Disposals	( 75,910)	( 5,052)	–	( 80,962)
	---------	--------	-------	---------
At 31 August 2025	837,348	48,083	3,967	889,398
	---------	--------	-------	---------
Depreciation
At 1 September 2024	127,063	25,462	3,767	156,292
Charge for the year	64,445	6,785	200	71,430
Disposals	( 21,501)	( 4,164)	–	( 25,665)
	---------	--------	-------	---------
At 31 August 2025	170,007	28,083	3,967	202,057
	---------	--------	-------	---------
Carrying amount
At 31 August 2025	667,341	20,000	–	687,341
	---------	--------	-------	---------
At 31 August 2024	435,770	6,423	200	442,393
	---------	--------	-------	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	176,706	42,928
Other debtors	57,658	25,938
	---------	--------
	234,364	68,866
	---------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	8,933	13,760
Social security and other taxes	2,855	7,631
Amounts due to related undertakings	1,135,142	700,728
Other creditors	64,997	42,461
	------------	---------
	1,211,927	764,580
	------------	---------

8. Contingencies

During 2023, the company received grant income from Invest Northern Ireland. In the event of default, Invest NI can demand repayment of the aggregate payments made to the company in a five year period prior to such an event occuring.

9. Summary audit opinion

The auditor's report dated 28 November 2025 was unqualified .

The senior statutory auditor was Michael Flannigan , for and on behalf of FEB Chartered Accountants .