Registration number:
Hello Bio Limited
for the Period from 1 March 2019 to 31 December 2019
Pages for filing with Registrar
Hello Bio Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Hello Bio Limited
Company Information
Directors |
Dr S J Roome J R Flanaghan Dr S J Roome |
Registered office |
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Registered number |
08891750 |
Accountants |
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Hello Bio Limited
(Registration number: 08891750)
Balance Sheet as at 31 December 2019
Note |
2019 |
2019 |
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Fixed assets |
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Tangible assets |
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Investments |
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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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Creditors: Amounts falling due within one year |
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( |
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Net current liabilities |
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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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( |
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Net liabilities |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Profit and loss account |
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Total equity |
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( |
Hello Bio Limited
(Registration number: 08891750)
Balance Sheet as at 31 December 2019 (continued)
For the financial period ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
Dr S J Roome
Director
Hello Bio Limited
Notes to the Financial Statements for the Period from 1 March 2019 to 31 December 2019
Statutory information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies
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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Group accounts not prepared
Disclosure of long or short period
Hello Bio Limited
Notes to the Financial Statements for the Period from 1 March 2019 to 31 December 2019 (continued)
2 |
Accounting policies (continued) |
Going concern
The accounts have been prepared on a going concern basis which assumes that the company has sufficient funds to continue to trade for the foreseeable future. The directors have indicated their willingness to continue to support the company and accordingly the accounts have been prepared on the basis that the company is a going concern.
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 value added tax, returns, rebates and discounts.
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
Tangible fixed assets
Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible fixed 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 |
Improvements to property |
- 25% on cost |
Fixtures and fittings |
- 25% on cost |
Hello Bio Limited
Notes to the Financial Statements for the Period from 1 March 2019 to 31 December 2019 (continued)
2 |
Accounting policies (continued) |
Computer equipment |
- 25% on cost |
Plant and machinery |
- 20% on cost |
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.
Research and development costs
Research and development costs are written off to profit or loss in the year incurred.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade debtors
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 valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items.
Trade creditors
Trade creditors are recognised at the transaction price.
Hello Bio Limited
Notes to the Financial Statements for the Period from 1 March 2019 to 31 December 2019 (continued)
2 |
Accounting policies (continued) |
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.
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.
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.
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Hello Bio Limited
Notes to the Financial Statements for the Period from 1 March 2019 to 31 December 2019 (continued)
Intangible fixed assets |
Goodwill |
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Cost or valuation |
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At 1 March 2019 |
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At 31 December 2019 |
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Amortisation |
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At 1 March 2019 |
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At 31 December 2019 |
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Carrying amount |
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At 31 December 2019 |
- |
Hello Bio Limited
Notes to the Financial Statements for the Period from 1 March 2019 to 31 December 2019 (continued)
Tangible fixed assets |
Improvements to property |
Fixtures and fittings |
Computer equipment |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 March 2019 |
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Additions |
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- |
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At 31 December 2019 |
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Depreciation |
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At 1 March 2019 |
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Charge for the year |
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At 31 December 2019 |
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Carrying amount |
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At 31 December 2019 |
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At 28 February 2019 |
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Hello Bio Limited
Notes to the Financial Statements for the Period from 1 March 2019 to 31 December 2019 (continued)
Investments |
Subsidiaries |
£ |
Fair value |
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At 1 March 2019 |
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At 31 December 2019 |
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Debtors: amounts falling due within one year |
2019 |
2019 |
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Trade debtors |
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Other debtors |
12,990 |
12,990 |
Prepayments |
11,782 |
21,762 |
VAT |
24,737 |
17,044 |
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Hello Bio Limited
Notes to the Financial Statements for the Period from 1 March 2019 to 31 December 2019 (continued)
Creditors |
Creditors: amounts falling due within one year
Note |
2019 |
2019 |
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Trade creditors |
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Social security and other taxes |
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Other creditors |
19,895 |
19,895 |
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Accrued expenses |
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Directors' loan accounts |
475,032 |
482,816 |
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Due after one year |
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Amounts owed to group undertakings |
3,411 |
983 |
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Accrued expenses |
- |
216 |
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3,411 |
1,199 |
Share capital |
Allotted, called up and fully paid shares
2019 |
2019 |
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No. |
£ |
No. |
£ |
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923.39 |
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903.39 |
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0.04 |
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0.04 |
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Hello Bio Limited
Notes to the Financial Statements for the Period from 1 March 2019 to 31 December 2019 (continued)
9 |
Share capital (continued) |
New shares alloted
During the period 2,000 ordinary shares having an aggregate nominal value of £20 were allotted for an aggregate consideration of £33,340.
Loans and borrowings |
2019 |
2019 |
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Current loans and borrowings |
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Directors' loan accounts |
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Related party transactions |
The company has taken advantage of the exemption available under FRS 102 Section 1A to not disclose transactions with wholly-owned group members.