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REGISTERED NUMBER: 04665491 (England and Wales)









Financial Statements

for the Year Ended 31 December 2022

for

KNOELL UK HOLDINGS LIMITED

KNOELL UK HOLDINGS LIMITED (REGISTERED NUMBER: 04665491)

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 UK HOLDINGS LIMITED

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: Dr K E Bate
Mr F Knoell





SECRETARY: Mrs D C Woodward





REGISTERED OFFICE: Bath House
6 - 8 Bath Street
Bristol
BS1 6HL





REGISTERED NUMBER: 04665491 (England and Wales)





AUDITORS: Shorts
Chartered Accountants & Statutory Auditor
Cedar House
63 Napier Street
Sheffield
S11 8HA

KNOELL UK HOLDINGS LIMITED (REGISTERED NUMBER: 04665491)

Balance Sheet
31 DECEMBER 2022

2022 2021
Notes £    £   
FIXED ASSETS
Investments 4 140,897 3,472,288

CURRENT ASSETS
Debtors 5 311,152 23,817
Cash at bank 14,348 80,207
325,500 104,024
CREDITORS
Amounts falling due within one year 6 (76,946 ) (94,182 )
NET CURRENT ASSETS 248,554 9,842
TOTAL ASSETS LESS CURRENT
LIABILITIES

389,451

3,482,130

CREDITORS
Amounts falling due after more than one
year

7

(252,516

)

-
NET ASSETS 136,935 3,482,130

CAPITAL AND RESERVES
Called up share capital 2,850,100 2,850,100
Retained earnings (2,713,165 ) 632,030
SHAREHOLDERS' FUNDS 136,935 3,482,130

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 25 October 2023 and were signed on its behalf by:





Dr K E Bate - Director


KNOELL UK HOLDINGS LIMITED (REGISTERED NUMBER: 04665491)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2022


1. COMPANY INFORMATION

Knoell UK Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

Preparation of consolidated financial statements
The financial statements contain information about Knoell UK Holdings 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 399 of the Companies Act 2006 not to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with group companies on the grounds that the company is a wholly owned subsidiary undertaking of the group who prepare consolidated financial statements that are publicly available.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity, and specific criteria have been met for each of the company's activities.

KNOELL UK HOLDINGS LIMITED (REGISTERED NUMBER: 04665491)

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.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Fixed asset investments
Fixed asset investments are included in the balance sheet at cost after provision for any permanent diminution in value.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Share Capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

KNOELL UK HOLDINGS LIMITED (REGISTERED NUMBER: 04665491)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2022 3,472,288
Impairments (3,331,391 )
At 31 December 2022 140,897
NET BOOK VALUE
At 31 December 2022 140,897
At 31 December 2021 3,472,288

During the year the Company's investment in its subsidiaries were impaired to their underlying net asset value.

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Knoell Animal Health Limited
Registered office: Bath House, 6-8 Bath Street, Bristol, BS1 6HL, UK
Nature of business: Pharmaceutical consultancy
%
Class of shares: holding
Ordinary 100.00

Knoell Cumbria Limited
Registered office: Bath House, 6-8 Bath Street, Bristol, BS1 6HL, UK
Nature of business: Pharmaceutical consultancy
%
Class of shares: holding
Ordinary 100.00

5. DEBTORS
2022 2021
£    £   
Amounts falling due within one year:
Amounts owed by group undertakings 70,000 23,621
VAT 2,345 196
72,345 23,817

Amounts falling due after more than one year:
Amounts owed by group undertakings 238,807 -

Aggregate amounts 311,152 23,817

KNOELL UK HOLDINGS LIMITED (REGISTERED NUMBER: 04665491)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Amounts owed to group undertakings 71,171 90,407
Accruals and deferred income 5,775 3,775
76,946 94,182

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Amounts owed to group undertakings 252,516 -

8. 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 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.

Andrew Irvine (Senior Statutory Auditor)
for and on behalf of Shorts

9. PARENT COMPANY

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. Copies of these financial statements are available from the ultimate parent company's registered office of Eastsite XII, Konrad-Zuse-Ring 25, 68163 Mannheim, Germany.