| Kerato Ltd |
| Notes to the Accounts |
| for the year ended 30 September 2025 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Going Concern |
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The financial position of the Company, its cash flows and liquidity position are set out in these financial statements. As at 30 September 2025, the Company had cash and cash equivalents of £4,790. As at the date of this report, cash balances were approximately £7,790. The Company has prepared monthly cash flow forecasts based on reasonable estimates of key variables including operating costs and capital expenditure through to December 2027. These forecasts assume that BSF Enterprise Plc will continue to support and fund the Company’s activities and thus supports the conclusion of the Directors that they expect sufficient funding to be available to meet the Company’s anticipated cash flow requirements to this date. The assessment as to whether the going concern basis is appropriate has also taken into account all information available up to the date of authorisation of these financial statements. The Company will need continued funding by its parent to finance ongoing operations and any acquisitions it might make. Whilst there can be no guarantee that sufficient funds will be raised, the Board is confident that sufficient additional capital will be raised to ensure adequate funds are available to the Company. Whilst the Directors are confident of raising sufficient funds in the timeframes required, these events or conditions indicate that a material uncertainty exists that may cast significant doubt on the Company’s ability to continue as a going concern. The Board has however concluded that the going concern basis remains appropriate in the preparation of these financial statements due to the anticipated availability of sufficient financial resources in the 12 months from the date of the financial statements. The Directors are not aware of any other indicators which would give doubt to the going concern status of the Company. |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Freehold buildings |
over 50 years |
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Leasehold land and buildings |
over the lease term |
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Plant and machinery |
over 5 years |
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Fixtures, fittings, tools and equipment |
over 5 years |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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Stocks |
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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Leased assets |
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A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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| 2 |
Employees |
2025 |
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2024 |
| Number |
Number |
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Average number of persons employed by the company |
1 |
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1 |
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| 3 |
Tangible fixed assets |
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Plant and machinery etc |
| £ |
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Cost |
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At 1 October 2024 |
927 |
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At 30 September 2025 |
927 |
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Depreciation |
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At 1 October 2024 |
168 |
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Charge for the year |
185 |
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At 30 September 2025 |
353 |
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Net book value |
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At 30 September 2025 |
574 |
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At 30 September 2024 |
759 |
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| 4 |
Debtors |
2025 |
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2024 |
| £ |
£ |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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- |
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100 |
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Other debtors |
475 |
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406 |
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475 |
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506 |
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| 5 |
Creditors: amounts falling due within one year |
2025 |
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2024 |
| £ |
£ |
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Trade creditors |
62 |
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53 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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59,063 |
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6,224 |
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Taxation and social security costs |
2,844 |
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- |
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Other creditors |
1,666 |
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900 |
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63,635 |
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7,177 |
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| 6 |
Related party transactions |
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The parent company has loaned the company £53,839. This is repayable on demand and is interest free. |
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A fellow subsidiary 3D Bio-Tissues Limited has loaned the company £5,224. This is repayable on demand and is interest free. |
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| 7 |
Controlling party |
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The name of the parent of the smallest group for which consolidated financial statements are drawn up of which this entity is a member is |
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BSF Enterprise plc |
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The parent's registered office: |
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2 Portman Street |
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London |
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England |
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W1H 6DU |
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| 8 |
Other information |
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Kerato Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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The Biosphere Draymans Way |
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Newcastle Helix |
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Newcastle Upon Tyne |
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NE45BX |