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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 |
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BIOINDUCTION LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 |
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BIOINDUCTION LIMITED |
BIOINDUCTION LIMITED (REGISTERED NUMBER: 04429471) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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BIOINDUCTION LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2022 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Boyce's Building |
40-42 Regent Street |
Clifton |
Bristol |
BS8 4HU |
BIOINDUCTION LIMITED (REGISTERED NUMBER: 04429471) |
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BALANCE SHEET |
31 MARCH 2022 |
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31.3.22 | 31.3.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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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 |
8 |
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PROVISIONS FOR LIABILITIES | 9 | ( |
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NET ASSETS |
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BIOINDUCTION LIMITED (REGISTERED NUMBER: 04429471) |
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BALANCE SHEET - continued |
31 MARCH 2022 |
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31.3.22 | 31.3.21 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 10 |
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Share premium |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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BIOINDUCTION LIMITED (REGISTERED NUMBER: 04429471) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
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1. | STATUTORY INFORMATION |
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Bioinduction Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery | - |
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Computer equipment | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
BIOINDUCTION LIMITED (REGISTERED NUMBER: 04429471) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
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2. | ACCOUNTING POLICIES - continued |
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Foreign currencies |
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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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. |
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Going concern |
The company made an loss for financial year of £90,355 (2021: £584,097) during the year. However, the financial statements have been prepared on a going concern basis as the shareholders continue to provide the company with the necessary financial support for at least the next twelve months. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and | Computer |
machinery | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2021 |
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Additions |
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At 31 March 2022 |
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DEPRECIATION |
At 1 April 2021 |
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Charge for year |
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At 31 March 2022 |
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NET BOOK VALUE |
At 31 March 2022 |
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At 31 March 2021 |
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BIOINDUCTION LIMITED (REGISTERED NUMBER: 04429471) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertaki |
£ |
COST |
At 1 April 2021 |
and 31 March 2022 |
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NET BOOK VALUE |
At 31 March 2022 |
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At 31 March 2021 |
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The company owns 100% of the share capital in Bioinduction PTY Ltd, a company registered and incorporated in Australia; 100% of the share capital in Acticare Neuroscience Inc, a company registered and incorporated in Canada; 60% of the share capital in Bioinduction Medical Limited, a company registered in England and Wales and 100% of the share capital in Bioinduction Inc, a company registered in the U.S.A. |
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The position and performance of Bioinduction PTY Ltd is estimated. |
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Aggregate capital and reserves | 31.3.21 | 31.3.20 |
£ | £ |
Bioinduction PTY Ltd | (137,173 | ) | (137,173 | ) |
Acticare Neuroscience Inc | 7 | 7 |
Bioinduction Medical Limited | 395,193 | 399,966 |
Bioinduction Inc | 1 | 1 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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The bank overdraft is secured by a personal guarantee from the director, I S Gillbe. |
BIOINDUCTION LIMITED (REGISTERED NUMBER: 04429471) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Other creditors |
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9. | PROVISIONS FOR LIABILITIES |
31.3.22 | 31.3.21 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
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Deferred |
tax |
£ |
Balance at 1 April 2021 |
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Reversal of timing differences | (676 | ) |
Balance at 31 March 2022 |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.22 | 31.3.21 |
value: | £ | £ |
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Ordinary | £0.01 | 5,056 | 4,981 |
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7,500 Ordinary shares of £0.01 each were allotted as fully paid as a premium of £39.99 per share during the year. |
BIOINDUCTION LIMITED (REGISTERED NUMBER: 04429471) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
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11. | RELATED PARTY DISCLOSURES |
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The company owns 100% of the issued share capital in Bioinduction PTY Ltd, a company incorporated in Australia. At the year end, Bioinduction PTY Ltd owed the company £177,652 (2021: £177,652). This amount is included within amounts owed by group undertakings. |
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The company owns 100% of the issued share capital of Acticare Neuroscience Inc, a company incorporated in Canada. At the year end, Acticare Neuroscience Ltd owed the company £1,846 (2021: £1,846). This amount is included within amounts owed by group undertakings. |
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The company owns 60% of the issued share capital of Bioinduction Medical Limited, a company incorporated in England and Wales. At the year end, Bioinduction Medical Limited owed the company £3,636 (2021: £3,060). This amount is included within amounts owed by group undertakings. |
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The company owns 60% of the issued share capital of Bioinduction Medical Limited which owns 100% of the issued share capital of Finetech Medical Limited, a company incorporated in England and Wales. At the year end, Finetech Medical Limited owed the company £111,398 (2021: £30,398). This amount is included within amounts owed by group undertakings. |
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The company owes £10,000 (2021: £10,000) to Gillbe Limited a company owned and run by one of the directors. |
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12. | ULTIMATE CONTROLLING PARTY |
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There is no ultimate controlling party. |