Eurox Life Sciences (UK) Limited 11899527 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is General medical practice activities. Digita Accounts Production Advanced 6.30.9574.0 true true 11899527 2022-08-01 2023-07-31 11899527 2023-07-31 11899527 bus:OrdinaryShareClass1 2023-07-31 11899527 core:CurrentFinancialInstruments 2023-07-31 11899527 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 11899527 core:AdditionsToInvestments 2023-07-31 11899527 core:CostValuation 2023-07-31 11899527 core:ProvisionsForImpairmentInvestments 2023-07-31 11899527 bus:SmallEntities 2022-08-01 2023-07-31 11899527 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 11899527 bus:FullAccounts 2022-08-01 2023-07-31 11899527 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 11899527 bus:RegisteredOffice 2022-08-01 2023-07-31 11899527 bus:Director1 2022-08-01 2023-07-31 11899527 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 11899527 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 11899527 countries:EnglandWales 2022-08-01 2023-07-31 11899527 core:CostValuation 2022-07-31 11899527 2021-08-01 2022-07-31 11899527 2022-07-31 11899527 bus:OrdinaryShareClass1 2022-07-31 11899527 core:CurrentFinancialInstruments 2022-07-31 11899527 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11899527

Prepared for the registrar

Eurox Life Sciences (UK) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2023

 

Eurox Life Sciences (UK) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Eurox Life Sciences (UK) Limited

Company Information

Director

N J Smith

Registered office

Staverton Court
Staverton
Cheltenham
Gloucestershire
GL51 0UX

Accountants

Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
GL51 0UX

 

Eurox Life Sciences (UK) Limited

(Registration number: 11899527)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

320,000

280,000

Current assets

 

Debtors

5

-

40,140

Creditors: Amounts falling due within one year

6

(70,185)

(66,926)

Net current liabilities

 

(70,185)

(26,786)

Net assets

 

249,815

253,214

Capital and reserves

 

Called up share capital

2,099

2,099

Share premium reserve

319,050

319,050

Profit and loss account

(71,334)

(67,935)

Shareholders' funds

 

249,815

253,214

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 16 April 2024
 


N J Smith
Director

 

Eurox Life Sciences (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Staverton Court
Staverton
Cheltenham
Gloucestershire
GL51 0UX
United Kingdom

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Eurox Life Sciences (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Eurox Life Sciences (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

 

Eurox Life Sciences (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

 

4

Investments

2023
£

2022
£

Investments in associates

320,000

280,000

Associates

£

Cost

At 1 August 2022

280,000

Additions

40,000

At 31 July 2023

320,000

Provision

At 31 July 2023

-

Carrying amount

At 31 July 2023

320,000

At 31 July 2022

280,000

 

5

Debtors

2023
 £

2022
 £

Other debtors

-

40,140

 

-

40,140

 

6

Creditors

2023
 £

2022
 £

Due within one year

Director's loan account

35,276

34,316

Trade creditors

-

1

Other creditors

31,909

31,909

Accrued expenses

3,000

700

70,185

66,926

 

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £0.10 each

20,989

2,099

20,989

2,099

         
 

Eurox Life Sciences (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

 

8

Related party transactions

Transactions with the director

At the balance sheet date the amount due to the director was £35,276 (2022 - £34,316).

Transactions with parent company

At the balance sheet date the amount due to the parent company was £31,909 (2022 £31,909)

 

9

Parent and ultimate parent undertaking

The company's immediate parent is Avextra AG, incorporated in Germany .