THE BINDING SITE GROUP 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 101

Reporting scope

Standalone (parent only)

Auditor

Dains Audit Limited

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors have no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of The Binding Site Group Limited to continue as a going concern. Revenue and Operating Profit continue to grow by 8.58% and 31.61% respectively. Cash and cash equivalents of £2,581,000 (2024:£7,228,000) and cash pool balances (recognised as an Amounts owed by group undertakings) of £158,459,000 (2024:£78,466,000) show the Company is cash generative. This is discussed further on page 2. The wider group, The Binding Site Corporation Limited, benefit from the financial strength of Thermo Fisher Scientific Inc., the ultimate parent company. The Directors have reviewed the going concern status of the parent company, taking into account the latest published financial results of Thermo Fisher Scientific Inc. and discussions with senior Group management. This assessment confirms that the parent company maintains a strong financial position and the ability to support its subsidiaries. The Company is part of a cash pooling arrangement with Thermo Fisher Scientific Inc. with wider inter-dependency for liquidity, whereby excess cash from the Company is swept for availability to the wider Thermo Fisher Group. Consequently, the complexity of the Company’s cash arrangements has changed. A letter of support from the ultimate parent, Thermo Fisher Scientific Inc. has been obtained where they have stated their unconditional parental support in meeting the Company’s liabilities as they fall due to the extent that the Company is not otherwise available to meet its liabilities and has the ability to provide such report until 30 September 2026. On the basis of their assessment of the going concern status of Thermo Fisher Scientific Inc including consideration of the ultimate parent’s financial position as per their latest published results and through enquiries with Thermo Fisher Scientific Inc group management, the Company’s Directors have a reasonable expectation that the Company will be able to continue in operational existence for the foreseeable future, thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements. The Directors have no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of The Binding Site Group Limited to continue as a going concern.”

Group structure

1. THE BINDING SITE GROUP LIMITED · parent
   1. The Binding Site Inc. 100% · USA · Supply of medical and biological products
   2. The Binding Site GmbH 100% · Germany · Supply of medical and biological products
   3. The Binding Site VT Inc. 100% · USA · Supply of antisera to the parent company
   4. TBS Howard Hill L.L.C. 100% · USA · Supply of antisera to the parent company

Significant events

• “Thermo Fisher integration: Following the acquisition of the company by Thermo Fisher Scientific Inc. (NYSE: TMO), on 3rd January 2023, the strategy of the business, its core operations or global customer base remains unchanged.”
• “Event: On 24 August 2023, the Company, after receiving in Vitro Diagnostic Regulation certification, launched the Exent Solution, a new product designed to transform the diagnosis and monitoring of patients with monoclonal gammopathies, including multiple myeloma.”
• “Revenue progression: As we increase adoption of our menu with our customers and increase the number of Optilites in the market our share of revenues on the Company's own instrument platforms continues to grow with the majority of revenues now on TBS instruments.”
• “There have been no significant events to note after the reporting period.”

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

Filings

8

last 12 months

Capital events

3

last 24 months

Officers appointed

0

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.