LONDON BIOSCIENCE INNOVATION CENTRE LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

RSM UK Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Company's core business remains strong, with high occupancy levels in the Camden campus premises and a strong pipeline of client interest. There continues to be increased demand in the London King's Cross area for the type of space and associated services and expertise that LBIC offers. The expansion into new premises has resulted in short-term losses, worsened by unavoidable delays to the construction project, but the new premises have had a successful start with more than half of the new space let by the date of this report. Forward financial projections show negative cash flow and further accounting losses expected over the next twelve months, as the remainder of the space is filled, but the Company retains sufficient cash reserves at the bank and on deposit with the RVC to meet its working capital requirements, and expects to return to a profit-generating position as occupancy increases at the Apex building. Additionally, the RVC, the sole shareholder, has committed to providing such financial support as is necessary to ensure the Company can settle its liabilities as they fall due for a period of 12 months from the date of signature of these accounts.”

Significant events

• “LBIC's major project during the year was the completion of its new facility at The Apex Building, located close to the Camden campus.”
• “Following construction delays caused by the supplier failure, the first tenants moved into the space in spring 2025, and on 28 March 2025 LBIC entered into a 25 year lease on the space.”
• “The capital cost of fitting-out the facility was £10,454k of which £8,998k was new additions in the year, with provisions made for a further £1,091k at the expiry of the lease.”
• “These costs were financed by a new 15-year loan of £10,000k from the RVC to LBIC, for which the loan agreement was signed in August 2024.”
• “Operating expenditure rose sharply due to the new facility, with significant increases to rent, service charge, rates and utilities which together rose to £2,254k (2024: £753k).”
• “Interest costs rose to £454k (2024: £9k) due to the new loan arrangement.”
• “The intercompany balance with the RVC at year end was a debtor balance of £1,059k (2024: creditor balance of £669k), reflecting cash funds deposited with the RVC.”
• “Under a Deed of Covenant between the two entities, LBIC gift aids its taxable profits each year to the RVC. As the company made a loss for tax purposes in the year to 31 July 2025, no gift aid was payable. (2024: nil).”
• “The Company had no employees during the period but benefited from a number of staff seconded by the RVC.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

4

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +22.5%

  £3,070,000 → £3,761,000

• Cash

  -36.3%

  £933,000 → £594,000

• Net assets

  -84%

  £993,000 → £159,000

• Employees

  +40%

  10 → 14

• Operating profit

  -159%

  £879,000 → -£519,000

• Profit before tax

  -211.8%

  £870,000 → -£973,000

• Wages

  +17.4%

  £570,000 → £669,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers