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REGISTERED NUMBER: 07338477 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Nutravet (UK) Limited

Nutravet (UK) Limited (Registered number: 07338477)






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


Nutravet (UK) Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: C D Jones
H Lagerberg



REGISTERED OFFICE: The Warehouse
Shard Lane
Hambleton
Poulton-Le-Flyde
FY6 9BX



REGISTERED NUMBER: 07338477 (England and Wales)



SENIOR STATUTORY AUDITOR: Christopher Langrick



AUDITORS: Langricks (Holmfirth) Limited Statutory Auditors
4 Greenfield Road
Holmfirth
West Yorkshire
HD9 2JT

Nutravet (UK) Limited (Registered number: 07338477)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 94,735 53,104
Tangible assets 5 129,414 78,144
224,149 131,248

CURRENT ASSETS
Stocks 2,820,476 3,099,872
Debtors 6 1,584,448 830,600
Cash at bank and in hand 1,212,079 827,103
5,617,003 4,757,575
CREDITORS
Amounts falling due within one year 7 1,237,638 1,542,403
NET CURRENT ASSETS 4,379,365 3,215,172
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,603,514

3,346,420

PROVISIONS FOR LIABILITIES 2,825 -
NET ASSETS 4,600,689 3,346,420

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 4,600,589 3,346,320
SHAREHOLDERS' FUNDS 4,600,689 3,346,420

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 July 2024 and were signed on its behalf by:





C D Jones - Director


Nutravet (UK) Limited (Registered number: 07338477)

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

1. STATUTORY INFORMATION

Nutravet (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.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 18% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.


Nutravet (UK) Limited (Registered number: 07338477)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 currency translation
Functional and presentational currency
The Company's functional and presentational currency is GBP.

Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'other operating income'.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Nutravet (UK) Limited (Registered number: 07338477)

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

2. ACCOUNTING POLICIES - continued

Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

Employee benefits
Short term employee benefits, including holiday pay and other similar non monetary benefits, are recognised as an expense in the period in which they are incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 15 ) .

Nutravet (UK) Limited (Registered number: 07338477)

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 55,440
Additions 56,899
At 31 December 2023 112,339
AMORTISATION
At 1 January 2023 2,336
Charge for year 15,268
At 31 December 2023 17,604
NET BOOK VALUE
At 31 December 2023 94,735
At 31 December 2022 53,104

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 10,459 115,235 15,195 140,889
Additions 18,866 55,178 1,664 75,708
Disposals - (16,300 ) - (16,300 )
At 31 December 2023 29,325 154,113 16,859 200,297
DEPRECIATION
At 1 January 2023 2,045 52,127 8,573 62,745
Charge for year 3,148 12,454 1,197 16,799
Eliminated on disposal - (8,661 ) - (8,661 )
At 31 December 2023 5,193 55,920 9,770 70,883
NET BOOK VALUE
At 31 December 2023 24,132 98,193 7,089 129,414
At 31 December 2022 8,414 63,108 6,622 78,144

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,472,007 734,088
Amounts owed by group undertakings 7,433 -
Other debtors 105,008 96,512
1,584,448 830,600

Nutravet (UK) Limited (Registered number: 07338477)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 82,978 353,569
Amounts owed to group undertakings 38,412 -
Taxation and social security 1,083,404 1,168,190
Other creditors 32,844 20,644
1,237,638 1,542,403

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

The Report of the Auditors was unqualified.

Christopher Langrick (Senior Statutory Auditor)
for and on behalf of Langricks (Holmfirth) Limited Statutory Auditors

9. POST BALANCE SHEET EVENTS

Post year-end the directors declared and paid out a dividend of 800,000 Euros on 13.03.2024.

10. ULTIMATE CONTROLLING PARTY

The company is a subsidiary of Swedencare AB which is the ultimate parent company, incorporated in Sweden.

The largest and smallest group in which the results of the company are consolidated is that headed by Swedencare AB. The consolidated accounts of Swedencare AB are available from its registered office: Medeon Science Park, Per Albin Hanssons vag 41, 205 12 Malmo, Sweden.