Recommendation 23

Randox’s published accounts do not yet cover the entire period of the contracts we considered. Its accounts for the year to 30 June 2021 reflect how the company has already expanded as a result of increased business through the pandemic. At June 2021, 40 Qq 22, 49; C&AG’s report, para 11 41 Qq 23–25 42 Qq 39–40 43 C&AG’s Report, para 14 44 Qq 37–38 45 Q 57; Randox Laboratories Limited, Annual report and financial statements for the financial year ended 30 June 2021; Randox Laboratories Limited, Annual report and financial statements for the 18 month financial period ended 30 June 2020. Randox originally reported a loss of £14.9 million for the 18 month period to 30 June 2020, but this was restated in the latest accounts to a profit of £1.2 million due to the correction of an accounting error. 46 Randox Laboratories Limited Annual report and financial statements for the financial year ended 30 June 2021 47 Q 57 Government’s contracts with Randox Laboratories Ltd 15 the company had net assets of £171 million, a ten-fold increase on its net assets of £17 million in June 2020. The company further noted that it had doubled its workforce since