Microbiological Solutions Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Microbiological Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04218514 . The registered office is Gollinrod, Walmersley, Bury, BL9 5NB.

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. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are in relation to software developed. It is amortised to the profit and loss account over its estimated economic life of 3 years.

2.4. 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:

Plant & Machinery	15% straight line basis
Fixtures & Fittings	33.33% straight line basis
Computer Equipment	33.33% straight line basis

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. 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.

Page 3

Page 4

Microbiological Solutions Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.7. 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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 34 (2025: 34)

4. Intangible Assets

	Other
	£
Cost
As at 1 April 2025	247,176
Additions	54,015

As at 31 March 2026	301,191

Amortisation
As at 1 April 2025	182,698
Provided during the period	44,508

As at 31 March 2026	227,206

Net Book Value
As at 31 March 2026	73,985

As at 1 April 2025	64,478

Page 4

Page 5

Microbiological Solutions Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

5. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 April 2025	163,703	35,844	199,547
Additions	2,045	16,229	18,274

As at 31 March 2026	165,748	52,073	217,821

Depreciation
As at 1 April 2025	103,871	26,149	130,020
Provided during the period	17,675	7,647	25,322

As at 31 March 2026	121,546	33,796	155,342

Net Book Value
As at 31 March 2026	44,202	18,277	62,479

As at 1 April 2025	59,832	9,695	69,527

6. Stocks

	2026	2025
	£	£
Stock	23,889	25,623

7. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	570,725	522,436
Amounts owed by group undertakings	(3,659)	75,380
Other debtors	58,758	35,061

	625,824	632,877

8. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	130,331	57,147
Other creditors	9,150	25,003
Taxation and social security	168,325	255,287

	307,806	337,437

9. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	2	2

Page 5

Page 6

Microbiological Solutions Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

10. Contingent Liabilities

The company has a contingent liability of £1,358,330 (2025: £1,710,322) in relation to the loan made from the former shareholders to the Employee Ownership Trust.

11. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2026	2025
	£	£
Not later than one year	79,306	79,306
Later than one year and not later than five years	15,667	78,335

	94,973	157,641

12. Ultimate Controlling Party

MSEOT Limited, the Employee Ownership Trust, are the ultimate controlling party.

13. Employee Ownership Trust

On 1 October 2019 51% of the issued share capital of Microbiological Solutions Limited was sold by previous shareholders to MSEOT Limited ("Employee Ownership Trust"). This resulted in the company becoming "employee owned" with the employee ownership trust holding 51% of the share capital. Subsequently a further 20.5% of the share capital has been purchased by the employee ownership trust and therefore it now hold 71.5% of the share capital in the company as at 31 March 2026.

The funding for the purchase of the shares by the employee ownership trust was by way of loan to the employee ownership trust from the previous shareholders of the business. The intention is that the funding for the repaym,ents by the employee ownership trust will be provided by Microbiological Solutions Limited. These are treated as a gift from equity and are shown within the Statement of Changes in Equity.

As at 31 March 2026 the remaining loan outstanding was £1,358,330 (2025: £1,710,322). Interest is being charged at 5% on £742,973 of this balances and 2% on £400,024, with the remaining £215,333 being interest free.

During the next 12 months capital repayments of £351,992 are due to be made by the employee ownership trust.

The obligation for the full repayment of the loan, as set out in the share purchase agreement, lies with the employee ownership trust and has therefore not been recognised within the financial statements of the company as a liability. However the company has guaranteed this liability and therefore it has been disclosed as a contingent liability.

Page 6

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		73,985		64,478
Tangible Assets	5		62,479		69,527

			136,464		134,005
CURRENT ASSETS
Stocks	6	23,889		25,623
Debtors	7	625,824		632,877
Cash at bank and in hand		818,312		810,854

		1,468,025		1,469,354
Creditors: Amounts Falling Due Within One Year	8	(307,806 )		(337,437 )

NET CURRENT ASSETS (LIABILITIES)			1,160,219		1,131,917

TOTAL ASSETS LESS CURRENT LIABILITIES			1,296,683		1,265,922

PROVISIONS FOR LIABILITIES
Deferred Taxation			(34,000 )		(34,000 )

NET ASSETS			1,262,683		1,231,922

CAPITAL AND RESERVES
Called up share capital	9		2		2
Profit and Loss Account			1,262,681		1,231,920

SHAREHOLDERS' FUNDS			1,262,683		1,231,922

A Fotheringham Director	C Burney Director
28/09/2026