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REGISTERED NUMBER: 14267657 (England and Wales)















KEMWELL BIOPHARMA UK LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






KEMWELL BIOPHARMA UK LIMITED (REGISTERED NUMBER: 14267657)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


KEMWELL BIOPHARMA UK LIMITED

COMPANY INFORMATION
For The Year Ended 31 March 2024







DIRECTOR: Willem Anton Smit





SECRETARY: Amicorp (UK) Secretaries Limited





REGISTERED OFFICE: 3rd Floor
5 Lloyds Avenue
London
EC3N 3AE





REGISTERED NUMBER: 14267657 (England and Wales)





AUDITORS: Hilden Park Accountants Limited
Hilden Park House
79 Tonbridge Road
Hildenborough
Tonbridge
Kent
TN11 9BH

KEMWELL BIOPHARMA UK LIMITED (REGISTERED NUMBER: 14267657)

ABRIDGED BALANCE SHEET
31 March 2024

31/3/24 31/3/23
Notes $    $    $    $   
FIXED ASSETS
Investments 4 6,552,559 1,600,000

CURRENT ASSETS
Debtors 27,090 -
Cash at bank 235,567 2,084,984
262,657 2,084,984
CREDITORS
Amounts falling due within one year 11,391 84,283
NET CURRENT ASSETS 251,266 2,000,701
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,803,825

3,600,701

CAPITAL AND RESERVES
Called up share capital 5 6,947,882 3,686,317
Retained earnings (144,057 ) (85,616 )
SHAREHOLDERS' FUNDS 6,803,825 3,600,701

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 September 2024 and were signed by:





Willem Anton Smit - Director


KEMWELL BIOPHARMA UK LIMITED (REGISTERED NUMBER: 14267657)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2024


1. STATUTORY INFORMATION

Kemwell Biopharma 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.

Significant judgements and estimates
In the application of the company’s accounting policies, the director is required to make judgements,
estimates and assumptions about the carrying amount 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 where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.

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

Turnover is recognised at the fair value of the consideration received or receivable for goods and services
provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair
value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration
is the present value of the future receipts. The difference between the fair value of the consideration and
the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the
goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be
measured reliably, it is probable that the economic benefits associated with the transaction will flow to the
entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of
completion when the stage of completion, costs incurred and costs to complete can be estimated reliably.
The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly
staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably,
revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

KEMWELL BIOPHARMA UK LIMITED (REGISTERED NUMBER: 14267657)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
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 in the company's balance sheet 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 debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the
effective interest method unless the arrangement constitutes a financing transaction, where the transaction
is measured at the present value of the future receipts discounted at a market rate of interest. Financial
assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the
assets of the company after deducting all of its liabilities

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference
shares that are classified as debt, 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. Financial liabilities classified as payable within one
year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course
of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interest method.

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.


KEMWELL BIOPHARMA UK LIMITED (REGISTERED NUMBER: 14267657)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
$   
COST
At 1 April 2023 1,600,000
Additions 4,952,559
At 31 March 2024 6,552,559
NET BOOK VALUE
At 31 March 2024 6,552,559
At 31 March 2023 1,600,000

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/24 31/3/23
value: $    $   
10,000 Ordinary $1.1317 11,317 11,317
3,675,000 Ordinary $1 6,936,565 3,675,000
6,947,882 3,686,317

3,261,565 Ordinary shares of $1 each were allotted and fully paid for cash at par during the year.

The initial issue of 10,000 ordinary shares was made at £1 per share, giving capital of £10,000.

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

The Report of the Auditors was unqualified.

P K Matthews FCA (Senior Statutory Auditor)
for and on behalf of Hilden Park Accountants Limited