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REGISTERED NUMBER: 04373093 (England and Wales)



















Financial Statements

for the Year Ended 31 December 2023

for

GNT UK Limited

GNT UK Limited (Registered number: 04373093)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GNT UK Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P Collins
M Fallon





REGISTERED OFFICE: The Mills
Canal Street
Derby
DE1 2RJ





BUSINESS ADDRESS: Bakum House
Etwall Road
Mickleover
Derby
Derbyshire
DE3 0DL





REGISTERED NUMBER: 04373093 (England and Wales)





AUDITORS: Bates Weston Audit Ltd
Statutory Auditors
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

GNT UK Limited (Registered number: 04373093)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,758,013 1,772,376

CURRENT ASSETS
Debtors 5 920,441 936,447
Cash at bank and in hand 32,737 75,170
953,178 1,011,617
CREDITORS
Amounts falling due within one year 6 903,590 559,506
NET CURRENT ASSETS 49,588 452,111
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,807,601

2,224,487

CREDITORS
Amounts falling due after more than one
year

7

(1,170,177

)

(1,195,007

)

PROVISIONS FOR LIABILITIES (70,000 ) (56,000 )
NET ASSETS 567,424 973,480

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings 467,424 873,480
SHAREHOLDERS' FUNDS 567,424 973,480

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 by the Board of Directors and authorised for issue on 3 April 2024 and were signed on its behalf by:





M Fallon - Director


GNT UK Limited (Registered number: 04373093)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

GNT UK 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the value of services supplied during the period, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Straight line over 25 years
Laboratory equipment - 20% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

The assets' residual values, useful lives and the depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within 'administrative expenses' in the profit and loss account.

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.

GNT UK Limited (Registered number: 04373093)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates defined contribution pension schemes for its employees. A defined contribution scheme is a pension scheme under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as an expense as they fall due. Amounts not paid are shown in accruals on the balance sheet. The assets of the schemes are held separately from the company in independently administered funds.

Related parties
The company is a wholly owned subsidiary undertaking of GNT Group B.V. The company has taken advantage of the exemption contained within Financial Reporting Standard 102 and has therefore not disclosed transactions with entities which form part of the group, other than as normally disclosed in the notes to the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 17 ) .

4. TANGIBLE FIXED ASSETS
Freehold Laboratory Motor Computer
property equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 2,138,868 356,608 376,468 119,297 2,991,241
Additions - 4,555 170,314 3,178 178,047
Disposals - - (150,129 ) - (150,129 )
At 31 December 2023 2,138,868 361,163 396,653 122,475 3,019,159
DEPRECIATION
At 1 January 2023 686,239 234,529 186,628 111,469 1,218,865
Charge for year 80,958 24,314 82,070 5,068 192,410
Eliminated on disposal - - (150,129 ) - (150,129 )
At 31 December 2023 767,197 258,843 118,569 116,537 1,261,146
NET BOOK VALUE
At 31 December 2023 1,371,671 102,320 278,084 5,938 1,758,013
At 31 December 2022 1,452,629 122,079 189,840 7,828 1,772,376

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 12,524 15,513
Amounts owed from group undertakings 888,138 903,509
Prepayments and accrued income 19,779 17,425
920,441 936,447

GNT UK Limited (Registered number: 04373093)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 7,275 13,997
Amounts owed to group undertakings 615,000 300,000
Tax 139,023 51,031
Social security and other taxes 134,347 186,955
Other creditors 433 13
Accrued expenses 7,512 7,510
903,590 559,506

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Amounts owed to group undertakings 1,170,177 1,195,007

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Wayne Thomas FCA (Senior Statutory Auditor)
for and on behalf of Bates Weston Audit Ltd

9. PARENT COMPANY

The immediate parent company is GNT Group B.V. and the ultimate parent company is GNT Holding B.V. Both are companies registered in the Netherlands.

The principal address from where group accounts are available is:-

Industrieweg 26, 5731 H R Mierlo, The Netherlands.