Company registration number 12178110 (England and Wales)
KHIRON LIFE SCIENCES UK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
KHIRON LIFE SCIENCES UK LIMITED
COMPANY INFORMATION
Directors
Mrs F M M T Katterbach
Mrs H E Gale
(Appointed 1 November 2023)
Company number
12178110
Registered office
Mackrell
Savoy Hill
London
WC2R 0BU
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
KHIRON LIFE SCIENCES UK LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
KHIRON LIFE SCIENCES UK LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF KHIRON LIFE SCIENCES UK LIMITED FOR THE YEAR ENDED 31 DECEMBER 2023
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Khiron Life Sciences UK Limited for the year ended 31 December 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Khiron Life Sciences UK Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Khiron Life Sciences UK Limited and state those matters that we have agreed to state to the board of directors of Khiron Life Sciences UK Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Khiron Life Sciences UK Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Khiron Life Sciences UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Khiron Life Sciences UK Limited. You consider that Khiron Life Sciences UK Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Khiron Life Sciences UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
28 August 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
KHIRON LIFE SCIENCES UK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
837
Current assets
Debtors
4
447,221
840,619
Creditors: amounts falling due within one year
5
(331,784)
(1,610,917)
Net current assets/(liabilities)
115,437
(770,298)
Net assets/(liabilities)
115,437
(769,461)
Capital and reserves
Called up share capital
6
772,933
100
Profit and loss reserves
(657,496)
(769,561)
Total equity
115,437
(769,461)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 28 August 2024 and are signed on its behalf by:
Mrs H E Gale
Director
Company registration number 12178110 (England and Wales)
KHIRON LIFE SCIENCES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information
Khiron Life Sciences UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Mackrell, Savoy Hill, London, WC2R 0BU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
These financial statements have been drawn up on the going concern basis. If the going concern basis were not appropriate, adjustments would have been made to reduce assets to recoverable amounts, to provide for any further liabilities that might arise, and to re-classify fixed assets as current assets and long term liabilities as current liabilities.
1.3
Turnover
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.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer equipment
33% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
KHIRON LIFE SCIENCES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
5
3
Tangible fixed assets
Computer equipment
£
Cost
At 1 January 2023
1,455
Disposals
(1,455)
At 31 December 2023
Depreciation and impairment
At 1 January 2023
618
Eliminated in respect of disposals
(618)
At 31 December 2023
Carrying amount
At 31 December 2023
At 31 December 2022
837
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
447,221
660,105
Deferred tax asset
180,514
447,221
840,619
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
14,269
6,656
Taxation and social security
165,442
215,955
Other creditors
152,073
1,388,306
331,784
1,610,917
KHIRON LIFE SCIENCES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
772,933
100
772,933
100
During the year, 772,833 Ordinary shares of £1 were allotted and fully paid for cash.
7
Ultimate controlling party
There is no ultimate controlling party.