Company registration number 03570476 (England and Wales)
YORKTEST LABORATORIES LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
YORKTEST LABORATORIES LIMITED
COMPANY INFORMATION
Directors
Mr J P Wiechula
Mr R Dawson
Mr R F Millman
Company number
03570476
Registered office
Units 2-3 Triune Court
Monks Cross Drive
York
North Yorkshire
YO32 9GZ
Auditor
Azets Audit Services Limited
Triune Court
Monks Cross Drive
York
YO32 9GZ
YORKTEST LABORATORIES LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Statement of comprehensive income
7
Balance sheet
8
Statement of changes in equity
9
Notes to the financial statements
10 - 23
YORKTEST LABORATORIES LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

The directors present the strategic report for the year ended 31 December 2025.

Review of the business

The group operates as a provider of laboratory services for health tests from its premises in York.

The company has generated a profit before tax of £3,345,052 for the year to 31 December 2025 (202 4 - £3,193,276 ).

Principal risks and uncertainties

The directors aim to continue the policies and investment in the business which have resulted in growth in recent years. The directors meet on a monthly basis and discuss current and emerging risks to help protect the business.

The company continues to invest and innovate in the health testing market.

Development and performance

The results for the company on the statement of comprehensive income show a turnover of £12,708,845 (2024 - £11,841,785).

The company has net current assets of £9,113,523 (2024 - £6,503,704).

Key performance indicators

The group’s key indicators during the period are as follows:

- Turnover

- Gross profit

The directors are satisfied the group objectives for the period have been met.

On behalf of the board

Mr R Dawson
Director
17 July 2026
YORKTEST LABORATORIES LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

The directors present their annual report and financial statements for the year ended 31 December 2025.

Principal activities

The principal activity of the company continued to be that of a laboratory service for health tests.

Results and dividends

The results for the year are set out on page 7.

Ordinary interim dividends were paid amounting to £nil (2024 - £nil). The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr J P Wiechula
Mr R Dawson
Mr R F Millman
Auditor

The auditor, Azets Audit Services Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr R Dawson
Director
17 July 2026
YORKTEST LABORATORIES LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -

The directors are responsible 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 company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent; and

- 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 company’s transactions and disclose with reasonable accuracy at any time the financial position of 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

YORKTEST LABORATORIES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF YORKTEST LABORATORIES LIMITED
- 4 -
Opinion

We have audited the financial statements of Yorktest Laboratories Limited (the 'company') for the year ended 31 December 2025 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including 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 company's affairs as at 31 December 2025 and of its profit 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's responsibilities for the audit of the financial statements section of our report. We are independent of the company 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 directors' 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 company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

YORKTEST LABORATORIES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF YORKTEST LABORATORIES LIMITED (CONTINUED)
- 5 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the 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 directors' r esponsibilities s tatement, 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's 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.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

YORKTEST LABORATORIES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF YORKTEST LABORATORIES LIMITED (CONTINUED)
- 6 -

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

- Reviewing minutes of meetings of those charged with governance;

- Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

- Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

- Performing audit work over the timing and recognition of revenue and in particular whether it has been recorded in the correct accounting period.

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 of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

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.

Martin Davey (Senior Statutory Auditor)
For and on behalf of Azets Audit Services Limited, Statutory Auditor
Chartered Accountants
Triune Court
Monks Cross Drive
York
YO32 9GZ
17 July 2026
YORKTEST LABORATORIES LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
2025
2024
Notes
£
£
Turnover
3
12,708,845
11,841,785
Cost of sales
(1,943,783)
(1,766,987)
Gross profit
10,765,062
10,074,798
Administrative expenses
(7,421,761)
(6,889,387)
Operating profit
4
3,343,301
3,185,411
Interest receivable and similar income
6
5,033
15,874
Interest payable and similar expenses
7
(3,282)
(8,009)
Profit before taxation
3,345,052
3,193,276
Tax on profit
8
(728,103)
(836,549)
Profit for the financial year
2,616,949
2,356,727

The statement of comprehensive income has been prepared on the basis that all operations are continuing operations.

YORKTEST LABORATORIES LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 8 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
9
52,418
11,488
Tangible assets
10
326,076
394,246
378,494
405,734
Current assets
Stocks
11
482,942
520,888
Debtors
12
8,921,060
6,190,307
Cash at bank and in hand
1,853,003
2,821,429
11,257,005
9,532,624
Creditors: amounts falling due within one year
15
(2,143,482)
(3,028,920)
Net current assets
9,113,523
6,503,704
Total assets less current liabilities
9,492,017
6,909,438
Creditors: amounts falling due after more than one year
16
-
0
(30,370)
Provisions for liabilities
Deferred tax liability
17
57,000
61,000
(57,000)
(61,000)
Net assets
9,435,017
6,818,068
Capital and reserves
Called up share capital
19
75,002
75,002
Profit and loss reserves
9,360,015
6,743,066
Total equity
9,435,017
6,818,068

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 17 July 2026 and are signed on its behalf by:
Mr R Dawson
Director
Company registration number 03570476 (England and Wales)
YORKTEST LABORATORIES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2024
75,002
4,386,339
4,461,341
Year ended 31 December 2024:
Profit and total comprehensive income
-
2,356,727
2,356,727
Balance at 31 December 2024
75,002
6,743,066
6,818,068
Year ended 31 December 2025:
Profit and total comprehensive income
-
2,616,949
2,616,949
Balance at 31 December 2025
75,002
9,360,015
9,435,017
YORKTEST LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
1
Accounting policies
Company information

Yorktest Laboratories Limited is a private company limited by shares incorporated in England and Wales. The registered office is Units 2-3 Triune Court, Monks Cross Drive, York, North Yorkshire, YO32 9GZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The immediate parent company is Yorktest Group Limited and the ultimate parent company is Project Jorvik Topco Limited. Project Jorvik Topco Limited is the smallest and largest group into which these financial statements are consolidated, and these group accounts and be found from its registered office Units 2-3 Triune Court, Monks Cross Drive, York, North Yorkshire, YO32 9GZ.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue is not recognised until the laboratory has performed all necessary testing on the samples provided by the customer. Where it is more likely than not that the company will have no further performance obligations after despatching a testing kit, revenue is recognised on despatch of the testing kit.

YORKTEST LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 11 -
1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
1-3 years
1.5
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 recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
5 years straight line
Plant and equipment
8 years straight line
Fixtures and fittings
4 years straight line
Computer equipment
3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

YORKTEST LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 12 -

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
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 comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

YORKTEST LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 13 -
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

YORKTEST LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 14 -
Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

YORKTEST LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 15 -
1.14
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.15
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Deferred income

Revenue is not recognised until the laboratory has performed all necessary testing on the samples provided by the customer. Therefore a portion of the sales receipts prior to the year-end must be deferred using an estimate over the expected number of tests for which all necessary testing will be completed, and the average time for a test to be returned by the customer.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Laboratory services for health tests
12,708,845
11,841,785
YORKTEST LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
3
Turnover and other revenue
(Continued)
- 16 -
2025
2024
£
£
Turnover analysed by geographical market
UK
11,354,877
10,432,308
Rest of the world
1,241,725
1,316,506
Europe
112,243
92,971
12,708,845
11,841,785
2025
2024
£
£
Other revenue
Interest income
5,033
15,874
4
Operating profit
2025
2024
Operating profit for the year is stated after charging:
£
£
Exchange losses
4,079
9,171
Fees payable to the company's auditor for the audit of the company's financial statements
16,495
19,040
Depreciation of owned tangible fixed assets
98,002
103,077
Depreciation of tangible fixed assets held under finance leases
6,623
6,623
Amortisation of intangible assets
13,910
19,231
Operating lease charges
138,239
137,224
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Directors
3
3
Administration
3
3
Laboratory
34
36
Total
40
42
YORKTEST LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
5
Employees
(Continued)
- 17 -

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
1,737,887
1,758,524
Social security costs
173,152
137,821
Pension costs
99,663
56,759
2,010,702
1,953,104
6
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
5,033
15,874
7
Interest payable and similar expenses
2025
2024
£
£
Interest on bank overdrafts and loans
3,282
6,002
Interest on finance leases and hire purchase contracts
-
2,007
3,282
8,009
8
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
724,000
851,667
Adjustments in respect of prior periods
8,103
(118)
Total current tax
732,103
851,549
Deferred tax
Origination and reversal of timing differences
(4,000)
(15,000)
Total tax charge
728,103
836,549
YORKTEST LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
8
Taxation
(Continued)
- 18 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
3,345,052
3,193,276
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
836,263
798,319
Tax effect of expenses that are not deductible in determining taxable profit
370
122,326
Adjustments in respect of prior years
8,103
(118)
Group relief
(116,311)
(94,736)
Permanent capital allowances in excess of depreciation
-
0
14,112
Other
(322)
(3,354)
Taxation charge for the year
728,103
836,549
9
Intangible fixed assets
Software
£
Cost
At 1 January 2025
225,825
Additions
54,840
At 31 December 2025
280,665
Amortisation and impairment
At 1 January 2025
214,337
Amortisation charged for the year
13,910
At 31 December 2025
228,247
Carrying amount
At 31 December 2025
52,418
At 31 December 2024
11,488
YORKTEST LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 19 -
10
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Computer equipment
Total
£
£
£
£
£
Cost
At 1 January 2025
167,602
715,369
518
96,678
980,167
Additions
-
0
33,136
-
0
3,319
36,455
At 31 December 2025
167,602
748,505
518
99,997
1,016,622
Depreciation and impairment
At 1 January 2025
102,798
394,429
518
88,176
585,921
Depreciation charged in the year
17,958
80,647
-
0
6,020
104,625
At 31 December 2025
120,756
475,076
518
94,196
690,546
Carrying amount
At 31 December 2025
46,846
273,429
-
0
5,801
326,076
At 31 December 2024
64,804
320,940
-
0
8,502
394,246

Tangible fixed assets includes assets held under finance leases or hire purchase contracts, as follows:

2025
2024
£
£
Plant and equipment
24,718
28,268
11
Stocks
2025
2024
£
£
Finished goods and goods for resale
482,942
520,888
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
48,334
125,632
Amounts owed by group undertakings
8,593,345
5,826,953
Prepayments and accrued income
279,381
237,722
8,921,060
6,190,307

Amounts owed by group undertakings are unsecured and repayable on demand.

YORKTEST LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 20 -
13
Loans and overdrafts
2025
2024
£
£
Bank loans
19,634
47,026
Payable within one year
19,634
27,392
Payable after one year
-
0
19,634

Bank loans have a borrowing term of 6 years from the date of d rawdown, with the facility expected to be fully repaid in June 2026. Interest on the loan is charged at 3.25% per annum over the Bank of England base rate. The loan is secured via a debenture comprising fixed and floating charges over all the assets and undertaking s of Yorktest Laboratories Limited.

14
Finance lease obligations
2025
2024
Future minimum lease payments due under finance leases:
£
£
Within one year
10,736
16,593
In two to five years
-
0
10,736
10,736
27,329

Finance lease obligations are secured against the assets to which they relate.

15
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Bank loans
13
19,634
27,392
Obligations under finance leases
14
10,736
16,593
Trade creditors
680,690
968,574
Corporation tax
44,245
570,000
Other taxation and social security
163,087
112,358
Other creditors
23,250
18,517
Accruals and deferred income
1,201,840
1,315,486
2,143,482
3,028,920

Bank loans are secured as detailed in note 13.

Obligations under finance leases are secured as detailed in note 14.

YORKTEST LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 21 -
16
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
13
-
0
19,634
Obligations under finance leases
14
-
0
10,736
-
0
30,370
17
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
71,000
55,000
Short term timing differences
(14,000)
6,000
57,000
61,000
2025
Movements in the year:
£
Liability at 1 January 2025
61,000
Credit to profit or loss
(4,000)
Liability at 31 December 2025
57,000

The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

18
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
99,663
56,759

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

YORKTEST LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 22 -
19
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
75,002
75,002
75,002
75,002
20
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within 1 year
108,939
108,939
Years 2-5
435,756
435,756
After 5 years
108,939
217,878
653,634
762,573
21
Related party transactions
Transactions with related parties

The company has taken advantage of the available exemption conferred by Section 33.1A of FRS102 not to disclose transactions with wholly owned members of the Group.

22
Ultimate controlling party

The immediate parent company is Yorktest Group Limited and the ultimate parent company is Project Jorvik Topco Limited. Project Jorvik Topco Limited is the smallest and largest group into which these financial statements are consolidated, and these group accounts and be found from its registered office Units 2-3 Triune Court, Monks Cross Drive, York, North Yorkshire, YO32 9GZ.

23
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
351,367
347,044
Company pension contributions to defined contribution schemes
73,363
41,832
424,730
388,876
YORKTEST LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
23
Directors' remuneration
(Continued)
- 23 -
Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
199,487
192,080
Company pension contributions to defined contribution schemes
19,830
18,789

Key management personnel are considered to be the company directors. Therefore key management remuneration equate to the amounts disclosed above.

2025-12-31 2025-01-01 false false false CCH Software CCH Accounts Production 2026.100 Mr J P Wiechula Mr R Dawson Mr R F Millman 03570476 2025-01-01 2025-12-31 03570476 bus:Director1 2025-01-01 2025-12-31 03570476 bus:Director2 2025-01-01 2025-12-31 03570476 bus:Director3 2025-01-01 2025-12-31 03570476 bus:RegisteredOffice 2025-01-01 2025-12-31 03570476 2025-12-31 03570476 2024-01-01 2024-12-31 03570476 core:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 03570476 core:RetainedEarningsAccumulatedLosses 2025-01-01 2025-12-31 03570476 core:IntangibleAssetsOtherThanGoodwill 2025-12-31 03570476 core:IntangibleAssetsOtherThanGoodwill 2024-12-31 03570476 core:ComputerSoftware 2025-12-31 03570476 core:ComputerSoftware 2024-12-31 03570476 core:ContinuingOperations 2025-12-31 03570476 2024-12-31 03570476 core:LandBuildings core:LongLeaseholdAssets 2025-12-31 03570476 core:PlantMachinery 2025-12-31 03570476 core:FurnitureFittings 2025-12-31 03570476 core:ComputerEquipment 2025-12-31 03570476 core:LandBuildings 2024-12-31 03570476 core:PlantMachinery 2024-12-31 03570476 core:FurnitureFittings 2024-12-31 03570476 core:ComputerEquipment 2024-12-31 03570476 core:WithinOneYear 2025-12-31 03570476 core:WithinOneYear 2024-12-31 03570476 core:AfterOneYear 2025-12-31 03570476 core:AfterOneYear 2024-12-31 03570476 core:CurrentFinancialInstruments core:WithinOneYear 2025-12-31 03570476 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 03570476 core:Non-currentFinancialInstruments 2025-12-31 03570476 core:Non-currentFinancialInstruments 2024-12-31 03570476 core:ShareCapital 2025-12-31 03570476 core:ShareCapital 2024-12-31 03570476 core:RetainedEarningsAccumulatedLosses 2025-12-31 03570476 core:RetainedEarningsAccumulatedLosses 2024-12-31 03570476 core:ShareCapital 2023-12-31 03570476 core:RetainedEarningsAccumulatedLosses 2023-12-31 03570476 core:ShareCapitalOrdinaryShareClass1 2025-12-31 03570476 core:ShareCapitalOrdinaryShareClass1 2024-12-31 03570476 core:IntangibleAssetsOtherThanGoodwill 2025-01-01 2025-12-31 03570476 core:ComputerSoftware 2025-01-01 2025-12-31 03570476 core:LandBuildings core:LongLeaseholdAssets 2025-01-01 2025-12-31 03570476 core:PlantMachinery 2025-01-01 2025-12-31 03570476 core:FurnitureFittings 2025-01-01 2025-12-31 03570476 core:ComputerEquipment 2025-01-01 2025-12-31 03570476 dpl:Item1 2025-01-01 2025-12-31 03570476 core:UKTax 2025-01-01 2025-12-31 03570476 core:UKTax 2024-01-01 2024-12-31 03570476 1 2025-01-01 2025-12-31 03570476 1 2024-01-01 2024-12-31 03570476 core:ComputerSoftware 2024-12-31 03570476 core:ComputerSoftware core:InternallyGeneratedIntangibleAssets 2025-01-01 2025-12-31 03570476 core:LandBuildings core:LeasedAssetsHeldAsLessee 2024-12-31 03570476 core:PlantMachinery 2024-12-31 03570476 core:FurnitureFittings 2024-12-31 03570476 core:ComputerEquipment 2024-12-31 03570476 2024-12-31 03570476 core:LandBuildings core:LeasedAssetsHeldAsLessee 2025-12-31 03570476 core:LandBuildings core:LeasedAssetsHeldAsLessee 2025-01-01 2025-12-31 03570476 core:ComputerEquipment core:ContinuingOperations 2025-01-01 2025-12-31 03570476 core:CurrentFinancialInstruments 2025-12-31 03570476 core:CurrentFinancialInstruments 2024-12-31 03570476 core:Non-currentFinancialInstruments core:AfterOneYear 2025-12-31 03570476 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 03570476 core:BetweenTwoFiveYears 2025-12-31 03570476 core:BetweenTwoFiveYears 2024-12-31 03570476 bus:OrdinaryShareClass1 2025-01-01 2025-12-31 03570476 bus:OrdinaryShareClass1 2025-12-31 03570476 bus:OrdinaryShareClass1 2024-12-31 03570476 core:MoreThanFiveYears 2025-12-31 03570476 core:MoreThanFiveYears 2024-12-31 03570476 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 03570476 bus:FRS102 2025-01-01 2025-12-31 03570476 bus:Audited 2025-01-01 2025-12-31 03570476 bus:FullAccounts 2025-01-01 2025-12-31 xbrli:pure xbrli:shares iso4217:GBP