KADANS SCIENCE PARTNER 12 UK LIMITED

Company Registration Number:
14206477 (England and Wales)

Unaudited statutory accounts for the year ended 30 December 2023

Period of accounts

Start date: 30 June 2022

End date: 30 December 2023

KADANS SCIENCE PARTNER 12 UK LIMITED

Contents of the Financial Statements

for the Period Ended 30 December 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

KADANS SCIENCE PARTNER 12 UK LIMITED

Directors' report period ended 30 December 2023

The directors present their report with the financial statements of the company for the period ended 30 December 2023

Principal activities of the company

The company's activities consist of the development of, investment in, and managing of science parks combining offices with laboratories and other R&D facilities for companies in innovative sectors.

Additional information

Going concern:At the reporting date, the company had net assets of £5,719,844 and net current assets of £538,180. The company is therefore well positioned in terms of its Balance Sheet to meet its financial obligations as they falldue, and the directors are of the opinion that the use of the going concern assumption is appropriate.The immediate parent company, Kadans Science Partner UK Holding Limited, has provided the company with a guarantee under section 479C of the Companies Act 2006 thereby undertaking to guarantee all outstanding liabilities to which the company is subject to at the reporting date. The immediate parent, Kadans Science Partner UK Holding Limited, and an intermediate parent, Kadans Holding B.V., will continue to provide the necessary level of financial support to enable the company to satisfy its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date of approving these financial statements.



Directors

The director shown below has held office during the period of
4 July 2023 to 30 December 2023

J.P. Sheppard


The director shown below has held office during the whole of the period from
30 June 2022 to 30 December 2023

Kadans Holding B.V.


The directors shown below have held office during the period of
30 June 2022 to 4 July 2023

S.J. Ribbens
Kadans Science Partner UK Holding Limited


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
29 July 2024

And signed on behalf of the board by:
Name: J.P. Sheppard
Status: Director

KADANS SCIENCE PARTNER 12 UK LIMITED

Profit And Loss Account

for the Period Ended 30 December 2023

18 months to 30 December 2023


£
Turnover: 719,567
Cost of sales: ( 392,884 )
Gross profit(or loss): 326,683
Administrative expenses: ( 81,696 )
Operating profit(or loss): 244,987
Interest receivable and similar income: 373
Interest payable and similar charges: ( 2,098,902 )
Profit(or loss) before tax: (1,853,542)
Tax: 463,385
Profit(or loss) for the financial year: (1,390,157)

KADANS SCIENCE PARTNER 12 UK LIMITED

Balance sheet

As at 30 December 2023

Notes 18 months to 30 December 2023


£
Fixed assets
Tangible assets: 3 29,091,921
Total fixed assets: 29,091,921
Current assets
Debtors: 4 657,875
Cash at bank and in hand: 49,448
Total current assets: 707,323
Creditors: amounts falling due within one year: 5 ( 169,143 )
Net current assets (liabilities): 538,180
Total assets less current liabilities: 29,630,101
Creditors: amounts falling due after more than one year: 6 ( 23,910,257 )
Total net assets (liabilities): 5,719,844
Capital and reserves
Called up share capital: 1
Other reserves: 7,110,000
Profit and loss account: (1,390,157 )
Total Shareholders' funds: 5,719,844

The notes form part of these financial statements

KADANS SCIENCE PARTNER 12 UK LIMITED

Balance sheet statements

For the year ending 30 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 29 July 2024
and signed on behalf of the board by:

Name: J.P. Sheppard
Status: Director

The notes form part of these financial statements

KADANS SCIENCE PARTNER 12 UK LIMITED

Notes to the Financial Statements

for the Period Ended 30 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover comprises rent receivable from operating leases on the company's investment property, which is measured on a straight line basis, taking account of any lease incentives over the lease term. Turnover is shown net of Value Added Tax.

    Tangible fixed assets depreciation policy

    Investment property is initially measured at cost and subsequently measured at fair value. Fair value is determined by suitably qualified individuals and approved by the directors. The fair value is derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary, for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss. Property under construction is initially measured at cost and subsequently measured at fair value where a reliable measure of fair value is available without undue costs or effort. Changes in fair value are recognised in profit or loss.

    Other accounting policies

    2.1 Basis of preparation of financial statements2.2 Financial Reporting Standard 102 - reduced disclosure exemptions2.3 Going concern2.4 Turnover 2.5 Foreign currency translation2.6 Interest income2.7 Finance costs2.8 Investment property2.9 Financial instruments2.10 Debtors2.11 Cash and cash equivalents2.12 Creditors2.13 Current and deferred taxation

KADANS SCIENCE PARTNER 12 UK LIMITED

Notes to the Financial Statements

for the Period Ended 30 December 2023

  • 2. Employees

    18 months to 30 December 2023
    Average number of employees during the period 0

KADANS SCIENCE PARTNER 12 UK LIMITED

Notes to the Financial Statements

for the Period Ended 30 December 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 29,091,921 29,091,921
Disposals
Revaluations
Transfers
At 30 December 2023 29,091,921 29,091,921
Depreciation
Charge for year
On disposals
Other adjustments
At 30 December 2023
Net book value
At 30 December 2023 29,091,921 29,091,921

KADANS SCIENCE PARTNER 12 UK LIMITED

Notes to the Financial Statements

for the Period Ended 30 December 2023

4. Debtors

18 months to 30 December 2023
£
Trade debtors 66,562
Prepayments and accrued income 41,280
Other debtors 550,033
Total 657,875

KADANS SCIENCE PARTNER 12 UK LIMITED

Notes to the Financial Statements

for the Period Ended 30 December 2023

5. Creditors: amounts falling due within one year note

18 months to 30 December 2023
£
Trade creditors 141,946
Accruals and deferred income 17,328
Other creditors 9,869
Total 169,143

KADANS SCIENCE PARTNER 12 UK LIMITED

Notes to the Financial Statements

for the Period Ended 30 December 2023

6. Creditors: amounts falling due after more than one year note

18 months to 30 December 2023
£
Other creditors 23,910,257
Total 23,910,257