REGISTERED NUMBER: SC078368 (Scotland)

Unaudited Financial Statements for the Year Ended 31 July 2025

for

NCIMB Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Prof J I Prosser

K J Knox

Prof A J R Porter

M J Gouldstone

SECRETARY:

A N Bruce

REGISTERED OFFICE:

Wellheads Place

Dyce

Aberdeen

AB21 7GB

REGISTERED NUMBER:

SC078368 (Scotland)

ACCOUNTANTS:

JDD Chartered Accountants

19 Hillcroft Road

Banchory

Kincardineshire

AB31 5TF

FIXED ASSETS

Intangible assets

4

256

570

Tangible assets

5

5,657,822

5,779,021

Investments

6

152,135

152,135

5,810,213

5,931,726

CURRENT ASSETS

Stocks

272,446

289,196

Debtors

7

384,939

426,328

Prepayments and accrued income

126,226

159,821

Cash at bank and in hand

997,424

40,765

1,781,035

916,110

CREDITORS

Amounts falling due within one year

8

546,370

1,178,852

NET CURRENT ASSETS/(LIABILITIES)

1,234,665

(262,742

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,044,878

5,668,984

CREDITORS

Amounts falling due after more than one year

9

(1,051,667

)

(737,991

)

PROVISIONS FOR LIABILITIES

(43,208

)

(93,571

)

NET ASSETS

5,950,003

4,837,422

CAPITAL AND RESERVES

Called up share capital

1,101,360

1,009,177

Share premium

1,623,285

285,775

Revaluation reserve

600,338

600,338

Retained earnings

2,625,020

2,942,132

SHAREHOLDERS' FUNDS

5,950,003

4,837,422

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2026 and were signed on its behalf by:

M J Gouldstone - Director

1.	STATUTORY INFORMATION

NCIMB Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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.

Patents and licences are being amortised evenly over their estimated useful life of fifteen years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

not provided

Culture collection

-

not provided

Plant and machinery

-

at varying rates on cost

Computer software

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred 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.

The culture collection is periodically revalued, and if sold there would be capital gains tax payable. However, because the directors believe that it would never be sold, no provision is made for this..

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.

Hire purchase and leasing commitments

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Culture collection

Culture collection is not depreciated as the culture samples maintained are based on their ability to generate sales. These samples have been constant over the years and there is no scientific reason for depletion or impairment.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2024 - 25 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 August 2024

and 31 July 2025

9,538

AMORTISATION

At 1 August 2024

8,968

Amortisation for year

314

At 31 July 2025

9,282

NET BOOK VALUE

At 31 July 2025

256

At 31 July 2024

570

5.	TANGIBLE FIXED ASSETS

Freehold

Culture

Plant and

Computer

property

collection

machinery

software

Totals

£

£

£

£

£

COST OR VALUATION

At 1 August 2024

4,643,359

761,000

1,278,697

126,484

6,809,540

Additions

-

-

33,792

-

33,792

At 31 July 2025

4,643,359

761,000

1,312,489

126,484

6,843,332

DEPRECIATION

At 1 August 2024

-

-

904,035

126,484

1,030,519

Charge for year

-

-

154,991

-

154,991

At 31 July 2025

-

-

1,059,026

126,484

1,185,510

NET BOOK VALUE

At 31 July 2025

4,643,359

761,000

253,463

-

5,657,822

At 31 July 2024

4,643,359

761,000

374,662

-

5,779,021

Cost or valuation at 31 July 2025 is represented by:

Freehold

Culture

Plant and

Computer

property

collection

machinery

software

Totals

£

£

£

£

£

Valuation in 2002

-

151,158

-

-

151,158

Valuation in 2003

-

340,000

-

-

340,000

Valuation in 2007

-

250,000

-

-

250,000

Cost

4,643,359

19,842

1,312,489

126,484

6,102,174

4,643,359

761,000

1,312,489

126,484

6,843,332

If the Culture Collection had not been revalued it would have been included at the following historical cost:

31.7.25

31.7.24

£

£

Cost

19,842

19,842

The Culture Collection was valued on a value in use basis on 23 May 2018 by Professor M Goodfellow .

He valued the collection at £750,000 in his capacity as Emeritus Professor of Microbiology at Newcastle University..

The directors do not consider that there has been a diminution in the value of the culture collection since its valuation was confirmed in May 2018.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST OR VALUATION

At 1 August 2024

414,627

Transfer to ownership

(142,382

)

At 31 July 2025

272,245

DEPRECIATION

At 1 August 2024

172,787

Charge for year

33,949

Transfer to ownership

(43,379

)

At 31 July 2025

163,357

NET BOOK VALUE

At 31 July 2025

108,888

At 31 July 2024

241,840

6.	FIXED ASSET INVESTMENTS

The company has a 0.73% investment in Enterobiotix Ltd, a company carrying out research into faecal microbiota transplant technology. The shares are included in these accounts at cost as the directors believe this is a fair value.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

£

Trade debtors

384,939

426,328

Included in trade debtors as at 31 July 2024 are factored debts totalling £397,463 (2024 £299,467).

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

£

Bank loans and overdrafts

39,750

222,531

Hire purchase contracts

51,888

47,673

Trade creditors

100,541

423,256

Taxation and social security

(66,799

)

244

Other creditors

420,990

485,148

546,370

1,178,852

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.25

31.7.24

£

£

Bank loans

466,894

484,235

Hire purchase contracts

84,882

136,770

Other creditors

499,891

116,986

1,051,667

737,991

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.25

31.7.24

£

£

Bank loans

506,644

706,766

The bank loans are secured by means of a bond and floating charge over all the assets of the company.

Included in total secured debts as shown above is a liability due in more than one year of £466,894 as at 31 July 2025 (2024 £484,235).