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REGISTERED NUMBER: 07108969 (England and Wales)














Financial Statements

for the Year Ended 31 December 2023

for

Romer Labs UK Limited

Romer Labs UK Limited (Registered number: 07108969)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Romer Labs UK Limited (Registered number: 07108969)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,478,760 6,290,428
Tangible assets 5 35,229 50,501
5,513,989 6,340,929

CURRENT ASSETS
Stocks 252,879 248,101
Debtors 6 706,476 941,921
Cash at bank and in hand 684,910 315,715
1,644,265 1,505,737
CREDITORS
Amounts falling due within one year 7 1,438,985 1,702,971
NET CURRENT ASSETS/(LIABILITIES) 205,280 (197,234 )
TOTAL ASSETS LESS CURRENT LIABILITIES 5,719,269 6,143,695

CREDITORS
Amounts falling due after more than one year 8 (1,178,184 ) (1,999,411 )

PROVISIONS FOR LIABILITIES - (1,995 )
NET ASSETS 4,541,085 4,142,289

CAPITAL AND RESERVES
Called up share capital 10 50,000 50,000
Retained earnings 4,491,085 4,092,289
SHAREHOLDERS' FUNDS 4,541,085 4,142,289

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 Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:





Mr K Hasler - Director


Romer Labs UK Limited (Registered number: 07108969)

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

1. STATUTORY INFORMATION

Romer Labs UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07108969

Registered office: Block 5
The Heath Business & Technical Park
Runcorn
Cheshire
WA7 4QX

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods and services is recognised when the goods are physically delivered to the customer, with the exception of pro-forma sales where the sale is recognised once the pro-forma has been paid.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of 8 years and 9 months.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Technical lab equipment - Straight line over 3 to 5 years
Fixtures and fittings - Straight line over 7 to 10 years
Motor vehicles - Straight line over 5 years
Office equipment - Straight line over 3 to 8 years

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

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.


Romer Labs UK Limited (Registered number: 07108969)

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

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.

Going concern
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being the 12 month period from the date of these accounts being approved and therefore the financial statements have been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 7,102,196
AMORTISATION
At 1 January 2023 811,768
Amortisation for year 811,668
At 31 December 2023 1,623,436
NET BOOK VALUE
At 31 December 2023 5,478,760
At 31 December 2022 6,290,428

5. TANGIBLE FIXED ASSETS
Improvements Technical Fixtures
to lab and
property equipment fittings
£    £    £   
COST
At 1 January 2023 31,472 106,610 36,079
Additions - 2,880 -
Disposals - (278 ) -
At 31 December 2023 31,472 109,212 36,079
DEPRECIATION
At 1 January 2023 31,472 91,785 24,068
Charge for year - 4,807 1,828
Eliminated on disposal - (278 ) -
At 31 December 2023 31,472 96,314 25,896
NET BOOK VALUE
At 31 December 2023 - 12,898 10,183
At 31 December 2022 - 14,825 12,011

Romer Labs UK Limited (Registered number: 07108969)

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

5. TANGIBLE FIXED ASSETS - continued

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 53,603 27,524 255,288
Additions - 900 3,780
Disposals - - (278 )
At 31 December 2023 53,603 28,424 258,790
DEPRECIATION
At 1 January 2023 32,890 24,572 204,787
Charge for year 10,721 1,696 19,052
Eliminated on disposal - - (278 )
At 31 December 2023 43,611 26,268 223,561
NET BOOK VALUE
At 31 December 2023 9,992 2,156 35,229
At 31 December 2022 20,713 2,952 50,501

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 673,576 911,371
Amounts owed by group undertakings 714 443
Other debtors 6,000 12,494
Deferred tax asset 733 -
Prepayments 25,453 17,613
706,476 941,921

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 23,300 10,840
Amounts owed to group undertakings 1,010,911 1,383,305
Tax 232,798 53,907
VAT 92,776 71,459
Other creditors - 108,360
Accrued expenses 79,200 75,100
1,438,985 1,702,971

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 1,178,184 1,999,411

Romer Labs UK Limited (Registered number: 07108969)

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

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 46,104 42,529
Between one and five years 28,000 52,000
74,104 94,529

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
40,000 Ordinary A £1 40,000 40,000
10,000 Ordinary B £1 10,000 10,000
50,000 50,000

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

The Report of the Auditors was unqualified.

Jeremy Bostock BA BFP FCA (Senior Statutory Auditor)
for and on behalf of Thompson Wright Limited

12. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to assist with the preparation of the financial statements.

13. ULTIMATE HOLDING COMPANY

The company's immediate parent undertaking is Romer Labs Diagnostic GmbH, a company registered in Austria.

At the year end the ultimate holding company was DSM-Firmenich AG, a company registered in Switzerland. The registered office address is Wurmisweg 576, Kaiseraugst, Switzerland.

At the previous year end the ultimate holding company was Koninklijke DSM N.V, a company registered in the Netherlands.

In May 2023, Koninklijke DSM NV merged with Firmenich International SA to form DSM-Firmenich AG.

The smallest and largest parent undertaking for which group accounts are prepared is DSM-Firmenich AG of Switzerland.