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REGISTERED NUMBER: 11626137 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

NORDIC NUTRACEUTICALS UK LTD

NORDIC NUTRACEUTICALS UK LTD (REGISTERED NUMBER: 11626137)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Balance Sheet 1

Notes to the Financial Statements 2


NORDIC NUTRACEUTICALS UK LTD (REGISTERED NUMBER: 11626137)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 4 12,081 15,559
Debtors 5 1,195 677
Cash at bank 9,275 25,572
22,551 41,808
CREDITORS
Amounts falling due within one year 6 168,866 149,852
NET CURRENT LIABILITIES (146,315 ) (108,044 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(146,315

)

(108,044

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (146,415 ) (108,144 )
(146,315 ) (108,044 )

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 director and authorised for issue on 10 September 2024 and were signed by:





J O Vertanen - Director


NORDIC NUTRACEUTICALS UK LTD (REGISTERED NUMBER: 11626137)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

The company is a private company limited by share capital, incorporated in England and Wales. The company's registered number is 11626137 and the registered office address is 29 Bleaklow Court, Hawkshaw, Bury, England BL8 4PT.

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.

The director considers that the company continues to represent a going concern despite its accumulated loss position as the wider group are committed to supporting the business for at least 12 months from the date of approval of the financial statements.

Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

NORDIC NUTRACEUTICALS UK LTD (REGISTERED NUMBER: 11626137)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer the settlement of the creditor for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest rate.

3. EMPLOYEES AND DIRECTORS

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

4. STOCKS
2023 2022
£    £   
Stocks 12,081 15,559

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,195 490
Other debtors - 187
1,195 677

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 160,779 144,652
Taxation and social security 2,687 -
Other creditors 5,400 5,200
168,866 149,852

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

The Report of the Auditors was unqualified.

Frederick Norman (Senior Statutory Auditor)
for and on behalf of Harold Sharp Limited

8. PARENT AND ULTIMATE CONTROLLING PARTY

The company's immediate parent is Verman Group Oy, Kauppakaari 2, 3.krs, 04200 Kerava, PL 146, 04201 Kerava.