REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2022 |
for |
KNOELL ANIMAL HEALTH LIMITED |
PREVIOUSLY KNOWN AS |
CYTON BIOSCIENCES LIMITED |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2022 |
for |
KNOELL ANIMAL HEALTH LIMITED |
PREVIOUSLY KNOWN AS |
CYTON BIOSCIENCES LIMITED |
KNOELL ANIMAL HEALTH LIMITED (REGISTERED NUMBER: 03537475) |
Contents of the Financial Statements |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
KNOELL ANIMAL HEALTH LIMITED |
Company Information |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants & Statutory Auditor |
Cedar House |
63 Napier Street |
Sheffield |
S11 8HA |
KNOELL ANIMAL HEALTH LIMITED (REGISTERED NUMBER: 03537475) |
Balance Sheet |
31 DECEMBER 2022 |
2022 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on |
KNOELL ANIMAL HEALTH LIMITED (REGISTERED NUMBER: 03537475) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
1. | COMPANY INFORMATION |
Knoell Animal Health Limited is a |
The company's principal activities and nature of its operations are disclosed in the Directors' Report. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.The financial statements contain information about Knoell Animal Health Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. |
The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below. |
Going concern |
The directors have, at the time of approving the financial statements, a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. |
Turnover |
Turnover is recognised at the fair value of the consideration received or receivable for services in the ordinary nature of the business providing technical expertise in the product development of veterinary medicines. Turnover is shown net of VAT, of goods sold and services provided to customers. |
Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion. |
Tangible fixed assets |
Improvements to property | - |
Equipment | - |
Fixtures and fittings | - |
KNOELL ANIMAL HEALTH LIMITED (REGISTERED NUMBER: 03537475) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
2. | ACCOUNTING POLICIES - continued |
Cash and cash equivalents |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Basic financial assets |
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. |
Basic financial liabilities |
Basic financial liabilities, including trade and other creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
KNOELL ANIMAL HEALTH LIMITED (REGISTERED NUMBER: 03537475) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Operating lease agreements |
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease. Any premium or discount on the acquisition of a lease is spread over the life of the lease on a straight-line basis. |
Investments |
Investments in subsidiaries are measured at costs less accumulated impairment. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and |
property | Equipment | fittings | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2022 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 December 2022 |
DEPRECIATION |
At 1 January 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
KNOELL ANIMAL HEALTH LIMITED (REGISTERED NUMBER: 03537475) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 January 2022 |
and 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
VAT |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Corporation tax |
Social security and other taxes |
Other creditors |
Interco loan due < 1 year | 70,000 | - |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Dilapidations provision | - | 22,879 |
Interco loan due > 1 year | 238,807 | - |
KNOELL ANIMAL HEALTH LIMITED (REGISTERED NUMBER: 03537475) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2022 | 2021 |
£ | £ |
Within one year |
Between one and five years |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was qualified on the following basis: |
Basis for disclaimer of opinion |
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 Auditors' 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 UK, including the FRC'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. We have been unable to place appropriate reliance on the adequacy of the audit work undertaken by the predecessor auditors of the company's financial statements for the year ended 31 December 2021. Our audit opinion on the current period's financial statements is therefore modified because of the pervasive effect this matter has both on the comparability and accuracy of the reported results for the current period's figures and the corresponding figures. |
Matters required to report by exception |
Notwithstanding our disclaimer of an opinion on the financial statements, 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 Director's report. |
Arising from the limitation of our work referred to above: |
- we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and |
- we were unable to determine whether adequate accounting records have been kept. |
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: |
- returns adequate for our audit have not been received from branches not visited by us; or |
- the financial statements are not in agreement with the accounting records and returns; or |
- certain disclosures of Director's remuneration specified by law are not made; or |
- we have not received all the information and explanations we require for our audit. |
for and on behalf of |
KNOELL ANIMAL HEALTH LIMITED (REGISTERED NUMBER: 03537475) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
12. | PARENT COMPANY |
The company is a 100% subsidiary of Knoell UK Holdings Limited, a company incorporated in England and Wales. The company's registered office is 68 Macrae Road, Eden Office Park, Ham Green, Bristol, BS20 0DD, which is also its principal place of business. |
Knoell Germany GmbH, a company incorporated in Germany, is the parent company of the group for which consolidated financial statements are drawn up of which the company is a member. The parent company's registered office is Eastsite XII, Konrad-Zuse-Ring 25, 68163 Mannheim, Germany. |