Acorah Software Products - Accounts Production 19.3.600 false true 31 March 2025 1 April 2024 false 1 April 2025 31 March 2026 31 March 2026 8203208 Mr Robert Baggott Mr William Barclay Mr Richard Rowe Mrs Kate Sneddon Mr Graham Wilkins iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 8203208 2025-03-31 8203208 2026-03-31 8203208 2025-04-01 2026-03-31 8203208 frs-core:CurrentFinancialInstruments 2026-03-31 8203208 frs-core:BetweenOneFiveYears 2026-03-31 8203208 frs-core:ComputerEquipment 2026-03-31 8203208 frs-core:ComputerEquipment 2025-04-01 2026-03-31 8203208 frs-core:ComputerEquipment 2025-03-31 8203208 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2026-03-31 8203208 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-04-01 2026-03-31 8203208 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-03-31 8203208 frs-core:FurnitureFittings 2026-03-31 8203208 frs-core:FurnitureFittings 2025-04-01 2026-03-31 8203208 frs-core:FurnitureFittings 2025-03-31 8203208 frs-core:NetGoodwill 2026-03-31 8203208 frs-core:NetGoodwill 2025-04-01 2026-03-31 8203208 frs-core:NetGoodwill 2025-03-31 8203208 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2026-03-31 8203208 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2025-04-01 2026-03-31 8203208 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2025-03-31 8203208 frs-core:OtherResidualIntangibleAssets 2026-03-31 8203208 frs-core:OtherResidualIntangibleAssets 2025-04-01 2026-03-31 8203208 frs-core:OtherResidualIntangibleAssets 2025-03-31 8203208 frs-core:PlantMachinery 2026-03-31 8203208 frs-core:PlantMachinery 2025-04-01 2026-03-31 8203208 frs-core:PlantMachinery 2025-03-31 8203208 frs-core:SharePremium 2026-03-31 8203208 frs-core:ShareCapital 2026-03-31 8203208 frs-core:RetainedEarningsAccumulatedLosses 2026-03-31 8203208 frs-bus:PrivateLimitedCompanyLtd 2025-04-01 2026-03-31 8203208 frs-bus:FilletedAccounts 2025-04-01 2026-03-31 8203208 frs-bus:SmallEntities 2025-04-01 2026-03-31 8203208 frs-bus:AuditExempt-NoAccountantsReport 2025-04-01 2026-03-31 8203208 frs-bus:SmallCompaniesRegimeForAccounts 2025-04-01 2026-03-31 8203208 frs-core:CostValuation 2025-03-31 8203208 frs-core:CostValuation 2026-03-31 8203208 frs-core:ProvisionsForImpairmentInvestments 2025-03-31 8203208 frs-core:ProvisionsForImpairmentInvestments 2026-03-31 8203208 frs-bus:Director1 2025-04-01 2026-03-31 8203208 frs-bus:Director2 2025-04-01 2026-03-31 8203208 frs-bus:Director3 2025-04-01 2026-03-31 8203208 frs-bus:Director4 2025-04-01 2026-03-31 8203208 frs-bus:CompanySecretary1 2025-04-01 2026-03-31 8203208 frs-countries:EnglandWales 2025-04-01 2026-03-31 8203208 2024-03-31 8203208 2025-03-31 8203208 2024-04-01 2025-03-31 8203208 frs-core:CurrentFinancialInstruments 2025-03-31 8203208 frs-core:BetweenOneFiveYears 2025-03-31 8203208 frs-core:SharePremium 2025-03-31 8203208 frs-core:ShareCapital 2025-03-31 8203208 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31
Registered number: 8203208
Biovault Scientific Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2026
Biovault Scientific Ltd
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—8

Page 1
Biovault Scientific Ltd
Balance Sheet
As At 31 March 2026
Balance Sheet
Registered number: 8203208

| 2026 | 2025
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Intangible Assets | 4 |  | 44,957 |  | 66,790
Tangible Assets | 5 |  | 187,116 |  | 209,894
Investments | 6 |  | 135,100 |  | 135,100
|  |  | 367,173 |  | 411,784
CURRENT ASSETS
Debtors | 7 | 826,774 |  | 444,497 |
Investments | 8 | - |  | 80,659 |
Cash at bank and in hand |  | 23,816 |  | 300,673 |
|  | 850,590 |  | 825,829 |
Creditors: Amounts Falling Due Within One Year | 9 | (37,047 ) |  | (63,065 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 813,543 |  | 762,764
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 1,180,716 |  | 1,174,548
NET ASSETS |  |  | 1,180,716 |  | 1,174,548
CAPITAL AND RESERVES
Called up share capital | 10 |  | 1,191,000 |  | 1,191,000
Share premium account |  |  | 20,000 |  | 20,000
Profit and Loss Account |  |  | (30,284 ) |  | (36,452 )
SHAREHOLDERS' FUNDS |  |  | 1,180,716 |  | 1,174,548

Page 1
Page 2
Biovault Scientific Ltd
Balance Sheet (continued)
As At 31 March 2026
For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board

Mr Robert Baggott Director
13th August 2026

The notes on pages 3 to 8 form part of these financial statements.
Page 2
Page 3
Biovault Scientific Ltd
Notes to the Financial Statements
For The Year Ended 31 March 2026
Notes to the Financial Statements
1. General Information
Biovault Scientific Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 8203208 . The registered office is 24 Brest Road, Plymouth , Devon, PL6 5XP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets comprise of trademarks. They are recorded initially at cost, and are subsequently stated at costs less any accumulated amortisation and impairment losses. Any intangible assets carried at revauled amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less and subsequent accumulated amortisation and subsequent impairment losses.
They are amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Research and Development
Development cost assets consist of software. They are recorded initially at cost, and are subsequently stated at costs less any accumulated amortisation and impairment losses. Any intangible assets carried at revauled amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less and subsequent accumulated amortisation and subsequent impairment losses.
They are amortised to profit and loss account over its estimated economic life of 4 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold | 7.69% per annum, straight line
Plant & Machinery | 10% to 14.3% per annum, straight line
Fixtures & Fittings | 25% per annum, straight line
Computer Equipment | 10% to 33.3% per annum, straight line

Page 3
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Biovault Scientific Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.9. Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Page 4
Page 5
Biovault Scientific Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
2.10. Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
2.11. Impairment of fixed assets
A review of the indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or group of assets.
For impairment testing of goodwill, the goodwil acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether each other assets or liabilities of the company are assigned to those units.
3. Average Number of Employees
Average number of employees, including directors, during the year was 4 (2025: 4)
4 4
4. Intangible Assets

| Goodwill | Other | Development Costs | Total
--- | --- | --- | --- | ---
| £ | £ | £ | £
Cost
As at 1 April 2025 | 5,000 | 3,140 | 88,988 | 97,128
Additions | - | - | 552 | 552
As at 31 March 2026 | 5,000 | 3,140 | 89,540 | 97,680
Amortisation
As at 1 April 2025 | 5,000 | 3,140 | 22,198 | 30,338
Provided during the period | - | - | 22,385 | 22,385
As at 31 March 2026 | 5,000 | 3,140 | 44,583 | 52,723
Net Book Value
As at 31 March 2026 | - | - | 44,957 | 44,957
As at 1 April 2025 | - | - | 66,790 | 66,790

Page 5
Page 6
Biovault Scientific Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
5. Tangible Assets

| Land & Property
--- | ---
| Leasehold | Plant & Machinery | Fixtures & Fittings | Computer Equipment | Total
| £ | £ | £ | £ | £
Cost
As at 1 April 2025 | - | 419,204 | 11,151 | 70,981 | 501,336
Additions | 20,144 | 8,001 | - | - | 28,145
As at 31 March 2026 | 20,144 | 427,205 | 11,151 | 70,981 | 529,481
Depreciation
As at 1 April 2025 | - | 238,314 | 9,291 | 43,837 | 291,442
Provided during the period | 858 | 40,187 | 892 | 8,986 | 50,923
As at 31 March 2026 | 858 | 278,501 | 10,183 | 52,823 | 342,365
Net Book Value
As at 31 March 2026 | 19,286 | 148,704 | 968 | 18,158 | 187,116
As at 1 April 2025 | - | 180,890 | 1,860 | 27,144 | 209,894

6. Investments

| Subsidiaries
--- | ---
| £
Cost
As at 1 April 2025 | 135,100
As at 31 March 2026 | 135,100
Provision
As at 1 April 2025 | -
As at 31 March 2026 | -
Net Book Value
As at 31 March 2026 | 135,100
As at 1 April 2025 | 135,100

Subsidiary undertakings
Name - Class of Share - Percentage of shares held
Biovault Technical Limited - Ordinary - 100%
Biovault Family Limited - Ordinary - 100%
Biovault Technical Limited - Capital and reserves 2026 - £45,434, 2025 - £164,403. Profit/(Loss) for the year 2026 - (£118,969), 2025 - £49,965.
...CONTINUED
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Biovault Scientific Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
6. Investments - continued
Biovault Family Limited - Capital reserves 2026 - £100, 2025 - £100. Profit/(Loss) for the year 2026 - £nil, 2025 - £nil.
Biovault Technical Limited's trade is the operation of a Human Tissue Bank. Biovault Family Limited is dormant.
Under the provisions of Section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so. therefore the accounts show information about the company as an individual entity.
7. Debtors

| 2026 |  | 2025
--- | --- | --- | ---
| £ |  | £
Due within one year
Prepayments and accrued income | 35,922 |  | 36,256
VAT | 5,595 |  | 12,505
Amounts owed by group companies - Biovault Technical Limited | 785,257 |  | 395,736
| 826,774 |  | 444,497

8. Current Asset Investments

| 2026 |  | 2025
--- | --- | --- | ---
| £ |  | £
Listed investments | - |  | 80,659

9. Creditors: Amounts Falling Due Within One Year

| 2026 |  | 2025
--- | --- | --- | ---
| £ |  | £
Trade creditors | 33,713 |  | 41,019
Accruals and deferred income | 3,334 |  | 22,046
| 37,047 |  | 63,065

10. Share Capital

| 2026 |  | 2025
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 1,191,000 |  | 1,191,000

Page 7
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Biovault Scientific Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:

| 2026 |  | 2025
--- | --- | --- | ---
| £ |  | £
Later than one year and not later than five years | 54,522 |  | 58,277
| 54,522 |  | 58,277

12. Related Party Transactions
The company owns fixed assets and intellectual property which are used by its subsidiary undertaking, Biovault Technical Ltd. It also leases premises which are jointly used by that subsidiary undertaking. During the period, a management charge of £247,000 (2025 - £230,000) has been charged to cover the use of these items.
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