Registration number:
Greiner Bio-One Limited
for the Year Ended 31 December 2025
Greiner Bio-One Limited
Contents
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Company Information |
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Strategic Report |
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Director's Report |
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Statement of Director's Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Statement of Cash Flows |
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Notes to the Financial Statements |
Greiner Bio-One Limited
Company Information
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Director |
S H Ahmed |
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Registered office |
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Auditors |
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Greiner Bio-One Limited
Strategic Report for the Year Ended 31 December 2025
The director presents his strategic report for the year ended 31 December 2025.
Principal activity
The principal activity of the company continued to be that of the distribution of medical and scientific products. There has been no significant change in these activities during the year.
Fair review of the business
The company's principal activity remains the distribution of medical and scientific products, with no significant changes to its core operations over the past year.
Despite a challenging macroeconomic backdrop for the UK life science sector, Greiner Bio-One Limited's turnover grew modestly, but profitability reduced significantly due to margin pressure and the prior-year disposal gain.
The company's key financial and other performance indicators during the year were as follows:
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Financial KPIs |
Unit |
2025 |
2024 |
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Turnover |
£(000) |
29,299 |
28,964 |
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Operating profit |
£(000) |
1,480 |
4,475 |
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Profit before tax |
£(000) |
1,360 |
4,262 |
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Profit after tax |
£(000) |
958 |
3,499 |
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Shareholder funds |
£(000) |
10,413 |
11,579 |
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Number of employees |
Unit |
39 |
41 |
Principal risks and uncertainties
Market conditions and sector performance
The UK life science market experienced a notably difficult year, characterised by reduced research funding, delays in capital investment, and increased financial pressure on biotechnology and academic research institutions. Ongoing inflationary pressures, reduced research grants, and constrained public and private funding have led many customers to postpone or scale back spending on laboratory consumables and equipment. These conditions particularly impacted the BioScience segment, where demand softness and cautious purchasing behaviour were evident throughout the year.
In contrast, the preanalytics and clinical sectors demonstrated greater resilience, supported by sustained demand from hospitals, diagnostics providers, and healthcare systems across the health economies. Growth within the clinical segment was driven by strong hospital sales and a relatively stable supply chain for clinical products, which proved less susceptible to macroeconomic disruption than the wider life science market. Preanalytics remains a key contributor to overall business growth and profitability.
Supply chain and operational challenges
Supply conditions within the BioScience division are continuing to recover, strengthening the position for future opportunities.
Competitive landscape and pricing dynamics
The UK market has seen increased competition, particularly from far eastern manufacturers that entered during the Covid-19 period and have maintained and strengthened their presence. Customers are increasingly sensitive to pricing, availability, and reliability of supply, intensifying competitive pressure across both clinical and BioScience segments. At the same time procurement decisions are increasingly driven by quality, regulatory compliance and sustainability considerations linked to institutional environmental and governance standards.
Sustainability and strategic positioning
Sustainability considerations are playing an increasingly important role in customer procurement decisions. The company recognises this shift as both a challenge and an opportunity and continues to invest in sustainable product solutions and responsible sourcing, reinforcing its value proposition in a competitive marketplace.
Greiner Bio-One Limited
Strategic Report for the Year Ended 31 December 2025
Future outlook
While near-term pressures persist within the UK life science sector, the long-term outlook for healthcare and diagnostics remains positive, supported by an ageing population, increasing diagnostic demand, and continued emphasis on preventative healthcare and laboratory automation. The preanalytics market is expected to remain resilient, providing a stable platform for future growth. By maintaining a strong focus on supply chain resilience, sustainability, and operational efficiency, the company is well positioned to navigate ongoing market volatility and to capitalise on growth opportunities as conditions in the life science sector stabilise.
Approved and authorised by the
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Greiner Bio-One Limited
Director's Report for the Year Ended 31 December 2025
The director presents his report and the financial statements for the year ended 31 December 2025.
Director of the company
The director who held office during the year was as follows:
Results and dividends
The profit for the year, after taxation, amounted to £958,475 (2024 - £3,498,706).
Ordinary dividends amounting to £2.1m (2024: £1.5m) were paid during the year.
Future developments
Despite competitive pressures, the overall outlook for the UK healthcare market remains positive, underpinned by an ageing population and a sustained increase in demand for medical and scientific products. By aligning with market demands for sustainability and maintaining a focus on supply chain resilience, the company is well-positioned to capitalise on future growth opportunities.
Disclosure of information to the auditors
The director has taken steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. The director confirms that there is no relevant information that he knows of and of which he knows the auditors are unaware.
Reappointment of auditors
The auditors Rödl & Partner Limited are deemed to be reappointed under section 487(2) of the Companies Act 2006.
Approved and authorised by the
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Greiner Bio-One Limited
Statement of Director's Responsibilities
The director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is 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 United Kingdom 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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.
Greiner Bio-One Limited
Independent Auditor's Report to the Members of Greiner Bio-One Limited
Opinion
We have audited the financial statements of Greiner Bio-One Limited (the 'company') for the year ended 31 December 2025, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, 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 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 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 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 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 director with respect to going concern are described in the relevant sections of this report.
Other information
The director is 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.
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.
Greiner Bio-One Limited
Independent Auditor's Report to the Members of Greiner Bio-One Limited
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 Director's 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 Director's 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 Director's 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, 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 director's remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of the director
As explained more fully in the Statement of Director's Responsibilities [set out on page 5], the director is 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 director determines 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 director is 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 director either intends 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.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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Enquiry of management, those charged with governance around actual and potential litigation and claims; |
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Enquiry of entity staff to identify any instances of non-compliance with laws and regulations; |
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Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; |
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Performing audit work over the risk of management 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 bias. |
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.
Greiner Bio-One Limited
Independent Auditor's Report to the Members of Greiner Bio-One Limited
As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
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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. 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. |
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Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control. |
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the director. |
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Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. |
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Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. |
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Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the company to express an opinion on the financial statements. We are responsible for the direction, supervision and performance of the company audit. We remain solely responsible for our audit opinion. |
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
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
Birmingham
B3 2HB
Greiner Bio-One Limited
Profit and Loss Account for the Year Ended 31 December 2025
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Note |
2025 |
(As restated) |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Distribution costs |
( |
( |
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Administrative expenses |
( |
( |
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Other operating income |
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Operating profit |
1,479,912 |
4,475,128 |
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Interest receivable and similar income |
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Interest payable and similar expenses |
( |
( |
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Profit before tax |
|
|
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Tax on profit |
( |
( |
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Profit for the financial year |
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The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Greiner Bio-One Limited
(Registration number: 02734565)
Balance Sheet as at 31 December 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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||
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
|||
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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Approved and authorised by the
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Greiner Bio-One Limited
Statement of Changes in Equity for the Year Ended 31 December 2025
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Called up share capital |
Retained earnings |
Total |
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At 1 January 2025 |
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Profit for the year |
- |
958,475 |
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Dividends |
- |
( |
( |
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At 31 December 2025 |
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Called up share capital |
Retained earnings |
Total |
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At 1 January 2024 |
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Profit for the year |
- |
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Dividends |
- |
( |
( |
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At 31 December 2024 |
150,000 |
11,429,297 |
11,579,297 |
Greiner Bio-One Limited
Statement of Cash Flows for the Year Ended 31 December 2025
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Note |
2025 |
(As restated) |
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Cash flows from operating activities |
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Profit for the year |
958,475 |
3,498,706 |
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Adjustments to cash flows from non-cash items |
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Depreciation and amortisation |
260,095 |
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Profit on disposal of tangible assets |
(2,000) |
( |
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Finance income |
(94,877) |
( |
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Finance costs |
214,731 |
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Income tax expense |
401,583 |
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1,738,007 |
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Working capital adjustments |
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Increase in stocks |
(351,452) |
( |
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Decrease/(increase) in trade debtors |
368,220 |
( |
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Increase in trade creditors |
175,128 |
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Cash generated from operations |
1,929,903 |
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Income taxes paid |
(121,583) |
( |
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Net cash flow from operating activities |
1,808,320 |
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Cash flows from investing activities |
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Interest received |
94,877 |
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Acquisitions of tangible assets |
(14,566) |
( |
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Proceeds from sale of tangible assets |
2,000 |
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Net cash flows from investing activities |
82,311 |
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Cash flows from financing activities |
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Interest paid |
(214,731) |
( |
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Repayment of bank borrowing |
(500,000) |
( |
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Proceeds of other borrowing |
- |
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Dividends paid |
(2,125,000) |
( |
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Net cash flows from financing activities |
(2,839,731) |
( |
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Net (decrease)/increase in cash and cash equivalents |
(949,100) |
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Cash and cash equivalents at 1 January |
2,456,158 |
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Cash and cash equivalents at 31 December |
1,507,058 |
2,456,158 |
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Greiner Bio-One Limited
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:
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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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
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 presentation currency of these financial statements is Sterling. All amounts have been rounded to the nearest £1.
Summary of disclosure exemptions
The company's parent undertaking includes the company in its consolidated financial statements. In these financial statements, the company is considered to be a qualifying entity (for the purposes of this FRS) and has applied the exemptions available under FRS 102 in respect of the following disclosures:
- Section 33 not to disclose transactions with wholly owned group undertakings.
Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future. Thus, the director continues to adopt the going concern basis of accounting in preparing the financial statements.
Reclassification of comparative amounts
Prior year balances within the Statement of Cash Flows have been reclassified to align with the current year presentation. These reclassifications had no impact on the overall movement in cash and cash equivalents. The prior year reclassifications were as follows:
- Finance cost was reclassified from £5,200 to £309,768.
- Interest paid was reclassified from £5,200 to £309,768.
Greiner Bio-One Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Restatement of comparative information
A reclassification of balances has been made to the Profit and Loss Account in 2024 in order to correctly reflect other interest expenses on loans from sundry expenses to interest payable.
Balances relating to loans and borrowings previously included within other creditors have been separately disclosed under a distinct line item, enhancing transparency and better reflecting the company’s financing position.
The prior-period reclassifications were as follows:
- Administrative expenses decreased from £4,426,283 to £4,121,715.
- Interest payable and similar expenses increased from £5,200 to £309,768.
- Other creditors within current liabilities has been decreased from £1,086,317 to £786,317.
- Loans and borrowings within current liabilities has been increased from £Nil to £300,000.
This reclassification has no impact on the entity’s net assets or profit for the year.
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is 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.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the sale of medical and scientific products is recognised when control of the goods transfers to the customer, typically upon delivery, and when it is probable that the economic benefits will flow to the company. When a contract includes multiple performance obligations such as installation, calibration, or after sales-support revenue is allocated to each obligation based on its relative standalone selling price and recognised as each obligation is satisfied. If the outcome of a contract cannot be estimated reliably, revenue is recognised only to the extent of costs incurred that are probable of recovery.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Foreign currency transactions and balances
Greiner Bio-One Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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 company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
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:
|
Asset class |
Depreciation method and rate |
|
Freehold land and buildings |
2.5% straight line |
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Plant and equipment |
20% - 33.3% straight line or 15% reducing balance |
|
Motor vehicles |
30% straight line on cars, 35% straight line on lorries and 20% straight line on forklift trucks |
Intangible assets
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
|
Asset class |
Amortisation method and rate |
|
Patents and licences |
33.3% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Greiner Bio-One Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Greiner Bio-One Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
|
Turnover |
The analysis of the company's turnover for the year from continuing operations is as follows:
|
2025 |
2024 |
|
|
Sale of goods |
|
|
|
Other revenue |
|
|
|
|
|
|
Other operating income |
The analysis of the company's other operating income for the year is as follows:
|
2025 |
2024 |
|
|
Profit on disposal |
|
|
|
Operating profit |
Arrived at after charging/(crediting)
|
2025 |
2024 |
|
|
Depreciation expense |
|
|
|
Amortisation expense |
|
|
|
Operating lease expense - plant and machinery |
|
|
|
Operating lease expense - other |
|
|
Greiner Bio-One Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Interest receivable and similar income |
|
2025 |
2024 |
|
|
Interest income on bank deposits |
|
|
|
Interest payable and similar expenses |
|
2025 |
(As restated) |
|
|
Interest on bank overdrafts and borrowings |
- |
|
|
Interest expense on other finance liabilities |
|
|
|
|
|
|
Staff costs |
The aggregate payroll costs (including director's remuneration) were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
407,251 |
|
|
|
The average number of persons employed by the company (including the director) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Administration and support |
|
|
|
Sales, marketing and distribution |
|
|
|
|
|
|
Director's remuneration |
The director's remuneration for the year was as follows:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
250,132 |
249,652 |
During the year the number of directors who were receiving benefits and share incentives was as follows:
|
2025 |
2024 |
|
|
Accruing benefits under money purchase pension scheme |
|
|
Greiner Bio-One Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Auditors' remuneration |
|
2025 |
2024 |
|
|
Audit of the financial statements |
|
|
|
Other fees to auditors |
||
|
Taxation compliance services |
|
|
The company has entered into a liability limitation agreement with the company’s auditor which was approved on 22nd December 2025. The principal terms of the agreement are fair and reasonable.
|
Taxation |
Tax charged/(credited) in the profit and loss account
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
402,858 |
|
|
UK corporation tax adjustment to prior periods |
|
|
|
414,372 |
742,830 |
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
( |
|
|
Arising from changes in tax rates and laws |
- |
(1,764) |
|
Total deferred taxation |
( |
|
|
Tax expense in the income statement |
|
|
The tax on profit before tax for the year is calculated at the standard rate of corporation tax in the UK of 25% (2024: 25%).
The differences between the total tax charge for the year and the amount calculated by applying the standard rate of corporation tax to the profit before tax are as follows:
|
2025 |
2024 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Increase in UK and foreign current tax from adjustment for prior periods |
|
|
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
|
Deferred tax credit from unrecognised temporary difference from a prior period |
( |
( |
|
Tax increase/(decrease) from other tax effects |
|
( |
|
Total tax charge |
|
|
Greiner Bio-One Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Pillar Two
With the implementation of the OECD Pillar Two model rules in the United Kingdom through the Finance (No. 2) Act 2023, the Global Minimum Tax rules apply to accounting periods beginning on or after 31 December 2023 and ensure global minimum taxation for in scope multinational groups.
In accordance with IAS 12 Income Taxes (as adopted in the UK), the Group has applied the mandatory temporary exception from recognising and disclosing deferred tax assets and liabilities arising from Pillar Two income taxes. Accordingly, no deferred tax balances have been recognised in respect of the UK Pillar Two legislation.
To evaluate the impact of global minimum taxation on the annual financial statements of the local company as of 31 December 2025, the Greiner Group has performed an assessment under the transitional Country by Country Reporting (CbCR) Safe Harbour using CbCR data prepared in accordance with OECD guidance and considered qualified for Pillar Two purposes.
As part of this assessment, the Simplified Effective Tax Rate (ETR) Test was met for the United Kingdom. In accordance with the applicable statutory provisions, the top‑up tax amount for this jurisdiction is therefore reduced to zero. Consequently, no Pillar Two top‑up tax is payable in respect of Greiner entities located in the United Kingdom for the financial year ended 31 December 2025.
Deferred tax
Deferred tax assets and liabilities
|
2025 |
Liability |
|
Accelerated capital allowances |
|
|
|
|
2024 |
Liability |
|
Accelerated capital allowances |
|
|
|
|
Intangible assets |
|
Patents and licences |
Total |
|
|
Cost |
||
|
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 |
|
|
Greiner Bio-One Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Tangible assets |
|
Freehold land and buildings |
Plant and 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 £8,895,807 (2024 - £9,109,777) in respect of freehold land and buildings.
|
Stocks |
|
2025 |
2024 |
|
|
Finished goods and goods for resale |
|
|
|
Debtors |
|
Due within one year |
2025 |
2024 |
|
Trade debtors |
|
|
|
Corporation tax asset |
- |
|
|
Prepayments and accrued income |
|
|
|
|
|
|
Cash and cash equivalents |
|
2025 |
2024 |
|
|
Cash on hand |
|
|
|
Cash at bank |
|
|
|
|
|
Greiner Bio-One Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Creditors |
|
2025 |
(As restated) |
|
|
Due within one year |
||
|
Loans and borrowings |
|
|
|
Trade creditors |
|
|
|
Amounts owed to group undertakings |
|
|
|
Taxation and social security |
|
|
|
Other creditors |
|
|
|
Accruals and deferred income |
|
|
|
Corporation tax liability |
88,838 |
- |
|
|
|
|
|
Due after one year |
||
|
Loans and borrowings |
|
|
|
Provisions for liabilities |
|
Deferred tax |
Total |
|
|
At 1 January 2025 |
|
|
|
Increase (decrease) in existing provisions |
( |
( |
|
At 31 December 2025 |
|
|
|
|
||
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £434,031 (2024 - £
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
150,000 |
|
150,000 |
Greiner Bio-One Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Loans and borrowings |
Current loans and borrowings
|
2025 |
2024 |
|
|
Loans and borrowings |
|
|
Non-current loans and borrowings
|
2025 |
2024 |
|
|
Other borrowings |
|
|
The company has a term loan facility of £6,000,000 with BNP Paribas. Interest is charged at the SONIA rate plus a 2% margin and is payable in arrears on the last day of each interest period. The loan is repayable in annual instalments of £300,000 on each anniversary date, with the outstanding balance repayable on the fifth anniversary.
|
Obligations under leases and hire purchase contracts |
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 |
|
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
|
Dividends |
|
2025 |
2024 |
|||
|
Interim dividend of £14.17 (2024 - £10.00) per ordinary shares |
2,125,000 |
1,500,000 |
||
|
Commitments |
Capital commitments
The total amount contracted for but not provided in the financial statements was £
Greiner Bio-One Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Related party transactions |
Key management compensation
|
2025 |
2024 |
|
|
Salaries and other short term employee benefits |
|
|
|
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
These financial statements are available upon request from Greiner Bio-One International AG, Bad Haller Straße 32. A-4550 Kremsmünster, Austria.