Registered number:
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 31 DECEMBER 2021
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BIOTRONICS 3D LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BIOTRONICS 3D LIMITED
UNDER SECTION 449 OF THE COMPANIES ACT 2006
We have audited the financial statements of Biotronics 3D Limited (the 'Company') for the period ended 31 December 2021, which comprise the Balance Sheet
and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards,
including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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BIOTRONICS 3D LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BIOTRONICS 3D LIMITED (CONTINUED)
UNDER SECTION 449 OF THE COMPANIES ACT 2006
In our opinion, based on the work undertaken in the course of the audit:
∙
the information given in the Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
∙
the Directors' Report has been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.
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BIOTRONICS 3D LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BIOTRONICS 3D LIMITED (CONTINUED)
UNDER SECTION 449 OF THE COMPANIES ACT 2006
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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Obtain an understanding of the policies and procedures management has in place to detect and prevent fraud and non-compliance with laws and regulations.
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Enquire of management any cases of actual or suspected fraud and non-compliance with laws and regulations.
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Enquire of management and those charged with governance around actual and potential litigation and claims.
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Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
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Assess the key risk areas within the financial statements which are susceptible to fraud or error and design our audit approach thereon.
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Perform substantive tests on a sample of transactions throughout the financial statements to ensure that no material errors have been identified.
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Perform cut off tests on a sample of transactions to ensure income has been accounted for in the correct period.
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Review of after year end information to ensure expenditure have been accounted for in the correct period.
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Perform analytical review procedures to identify any irregularities and investigation thereon.
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Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at:
www.frc.org.uk/auditorsresponsibilities
. This description forms part of our Auditor's Report.
The financial statements of the Company for the year ended 31 January 2021 were not audited. The comparatives presented as part of these financial statements of the Company have not been audited as a result.
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BIOTRONICS 3D LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BIOTRONICS 3D LIMITED (CONTINUED)
UNDER SECTION 449 OF THE COMPANIES ACT 2006
This report is made solely to the Company's members, as a body,
in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
The Old Rectory
Church Street
Surrey
KT13 8DE
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BIOTRONICS 3D LIMITED
REGISTERED NUMBER:
05029338
BALANCE SHEET
AS AT
31 DECEMBER 2021
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 6 to 12 form part of these financial statements.
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BIOTRONICS 3D LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021
Biotronics 3D Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Greenwich View Place, London, E14 9NN. The principal activity of the Company is that of research and development and medical engineering software.
2.
Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of
Financial Reporting Standard 102, the Financial Reporting Standard applicable in
the UK and the Republic of Ireland and the Companies Act 2006
.
The financial statements are presented for a period shorter than one year, from 1 February 2021 to 31 December 2021. The comparative amounts presented in the financial statements (including the related notes) are not entirely comparable as they relate to the period 1 February 2020 to 31 January 2021.
The following principal accounting policies have been applied:
Functional and presentation currency
Monetary amounts in these financial statements are rounded to the nearest £.
Transactions and balances
Turnover is recognised in the profit and loss account over the period to which it relates. Where invoiced in advance, the turnover is included at the stage of completion or services rendered in deferred income in the balance sheet.
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BIOTRONICS 3D LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021
2.
Accounting policies (continued)
Research and development tax refunds received from tax authorities are recognised in other operating income in the year of receipt. Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.
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BIOTRONICS 3D LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021
2.
Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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BIOTRONICS 3D LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021
2.
Accounting policies (continued)
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BIOTRONICS 3D LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021
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BIOTRONICS 3D LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021
During the period the company issued 114,224 B Ordinary Shares of £0.05 each for £1.4781 per share.
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £24,956 (31 January 2021 - £31,196). At the balance sheet date, pension contributions of £4,934 (31 January 2021 - £3,840) were payable to the fund.
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BIOTRONICS 3D LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021
On 17 December 2021 the then entire issued share capital of the company was acquired by Openad International S.A.
The immediate parent undertaking is Openrad International S.A., a company incorporated in Luxembourg. The ultimate parent undertaking is Medneo Global S.A., a company incorporated in Luxembourg. The address of their office is 17 Rue des Bains, 1212 Luxembourg. There is no ultimate controlling party.
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