Registration number:
for the Year Ended
Pages for filing with Registrar
The Tramshed
25 Lower Park Row
Bristol
BS1 5BN
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 Roome Dr H J Davies J R Flanaghan Dr S 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 28 February 2018
Note |
2018 |
2017 |
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Fixed assets |
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Intangible 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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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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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 |
( |
( |
For the financial year ending 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
Page 2 |
Hello Bio Limited
(Registration number: 08891750)
Balance Sheet as at 28 February 2018 (continued)
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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 Roome
Director
Page 3 |
Hello Bio Limited
Notes to the Financial Statements for the Year Ended 28 February 2018
Statutory information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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
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.
Page 4 |
Hello Bio Limited
Notes to the Financial Statements for the Year Ended 28 February 2018 (continued)
2 |
Accounting policies (continued) |
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.
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 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.
Page 5 |
Hello Bio Limited
Notes to the Financial Statements for the Year Ended 28 February 2018 (continued)
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Accounting policies (continued) |
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 |
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.
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.
Impairment of non-financial assets
The company assesses at each reporting date whether an asset may be impaired. If any such indication exists the company estimates the recoverable amount of the asset. If it is not possible to estimate the recoverable amount of the individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. The recoverable amount of an asset or cash-generating unit is the higher of its fair value less costs to sell and its value in use. If the recoverable amount is less than its carrying amount, the carrying amount of the asset is impaired and it is reduced to its recoverable amount through an impairment in profit and loss unless the asset is carried at a revalued amount where the impairment loss of a revalued asset is a revalued decrease.
An impairment loss recognised for all assets is reversed in a subsequent period if and only if the reasons for the impairment loss have ceased to apply.
Page 6 |
Hello Bio Limited
Notes to the Financial Statements for the Year Ended 28 February 2018 (continued)
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Accounting policies (continued) |
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.
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 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.
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.
Page 7 |
Hello Bio Limited
Notes to the Financial Statements for the Year Ended 28 February 2018 (continued)
2 |
Accounting policies (continued) |
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, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.
Termination benefits are recognised immediately as an expenses when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Taxation |
No liability to UK corporation tax arose on ordinary activities for the year ended
Page 8 |
Hello Bio Limited
Notes to the Financial Statements for the Year Ended 28 February 2018 (continued)
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 March 2017 |
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At 28 February 2018 |
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Amortisation |
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At 1 March 2017 |
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Amortisation charge |
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At 28 February 2018 |
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Carrying amount |
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At 28 February 2018 |
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At 28 February 2017 |
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Page 9 |
Hello Bio Limited
Notes to the Financial Statements for the Year Ended 28 February 2018 (continued)
Tangible 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 2017 |
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Additions |
- |
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At 28 February 2018 |
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Depreciation |
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At 1 March 2017 |
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Charge for the year |
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At 28 February 2018 |
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Carrying amount |
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At 28 February 2018 |
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At 28 February 2017 |
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Investments |
Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
Hello Bio Inc |
United States of America |
Common Stock |
100% (2016: 100%) |
The principal activity of Hello Bio Inc is the manufacture and supply of chemicals. Its financial period end is 31 December. |
Page 10 |
Hello Bio Limited
Notes to the Financial Statements for the Year Ended 28 February 2018 (continued)
7 |
Investments (continued) |
The profit for the financial period of Hello Bio Inc was £9,324 and the aggregate amount of capital and reserves at the end of the period was £4,131. |
Stocks |
2018 |
2017 |
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Finished stock |
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Debtors: amounts falling due within one year |
2018 |
2017 |
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Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
12,990 |
12,990 |
Prepayments |
1,768 |
1,768 |
Social security and other taxes |
164 |
- |
VAT |
13,786 |
13,526 |
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Creditors: amounts falling due within one year |
Note |
2018 |
2017 |
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Trade creditors |
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Social security and other taxes |
- |
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Other creditors |
10,918 |
2,168 |
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Accrued expenses |
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Directors' loan accounts |
482,696 |
452,539 |
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Page 11 |
Hello Bio Limited
Notes to the Financial Statements for the Year Ended 28 February 2018 (continued)
10 |
Creditors (continued) |
Note |
2018 |
2017 |
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Due after one year |
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Accrued expenses |
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Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
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No. |
£ |
No. |
£ |
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903.39 |
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903.39 |
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0.04 |
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0.04 |
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Loans and borrowings |
2018 |
2017 |
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Current loans and borrowings |
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Directors' loan accounts |
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Page 12 |