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Registered number: 14540861 (England and Wales)














JACKSON LABORATORY UK LIMITED
 

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023


 
JACKSON LABORATORY UK LIMITED
 

 
COMPANY INFORMATION


Directors
D W Abbott 
D R Hoag 
G A Langlais 




Registered number
14540861



Registered office
Birchin Court
5th Floor

19-25 Birchin Lane

London

United Kingdom

EC3V 9DU




Independent auditors
ZEDRA Corporate Reporting Services (UK) Limited






 
JACKSON LABORATORY UK LIMITED
 


CONTENTS



Page
Balance Sheet
 
1
Notes to the Financial Statements
 
2 - 5



 
JACKSON LABORATORY UK LIMITED
REGISTERED NUMBER:14540861


BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
Note
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
50,368

Cash at bank and in hand
  
114,433

  
164,801

Creditors: amounts falling due within one year
 5 
(24,020)

Net current assets
  
 
 
140,781

Total assets less current liabilities
  
140,781

  

Net assets
  
140,781


Capital and reserves
  

Called up share capital 
  
1

Capital contribution reserve
 6 
119,564

Profit and loss account
  
21,216

  
140,781


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




G A Langlais
Director

Date: 30 September 2024

The notes on pages 2 to 5 form part of these financial statements.

Page 1


 
JACKSON LABORATORY UK LIMITED
 

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

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 Company was incorporated on 14 December 2022 and commenced trading on 14 February 2023. This is the first set of financial statements of the Company. 

The following principal accounting policies have been applied:

 
1.2

Going concern

Jackson Laboratory UK Limited is in a net asset position supported primarily by an intercompany receivable due from its parent company, Jackson Laboratory Holdings LLC. The directors have considered the parent company's ability to provide financial support and have received written confirmation that it will continue to do so for a period of at least 12 months from the date of signing these financial statements. For this reason, the directors continue to adopt the going concern basis in preparing the financial statements.

 
1.3

Foreign currency translation

Functional and presentation 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 profit or loss.

Page 2


 
JACKSON LABORATORY UK LIMITED
 

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

1.Accounting policies (continued)

 
1.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Intercompany revenue is recognised on a cost plus 5% basis, in line with the intercompany service agreement with the parent company.
Intercompany revenue is recognised when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the intercompany service agreement; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.5

Pensions

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 profit or loss 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.

 
1.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
1.7

Debtors

Short-term debtors are measured at transaction price. Amounts due from group undertakings are measured at cost. These loans are unsecured, interest free and repayable on demand. 

 
1.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions.

Page 3


 
JACKSON LABORATORY UK LIMITED
 

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

1.Accounting policies (continued)

 
1.9

Creditors

Short-term creditors are measured at the transaction price. 


2.


Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2023 was unqualified.

The audit report was signed on 1 October 2024 by Edward Wallis ACA (Senior Statutory Auditor) on behalf of ZEDRA Corporate Reporting Services (UK) Limited.


3.


Employees

The average monthly number of employees during the period was 3.


4.


Debtors

2023
£


Amounts owed by group undertakings
36,547

Other debtors
13,821

50,368



5.


Creditors: Amounts falling due within one year

2023
£

Corporation tax
6,666

Other taxation and social security
6,892

Accruals and deferred income
10,462

24,020



6.


Reserves

Capital contribution reserve

An amount totalling £119,564 was received as funding from Jackson Laboratory Holdings LLC and is not deemed repayable. 

Page 4


 
JACKSON LABORATORY UK LIMITED
 

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

7.


Controlling party

Jackson Laboratory Holdings LLC is the parent of the smallest group for which consolidated financial statements are drawn up of which the Company is a member. The registered office of the parent company is 600 Main Street, Bar Harbor, Maine, USA


8.


Post balance sheet events

There were no adjusting or non-adjusting events occurring between the end of the reporting period and
the date these financial statements were approved.

 
Page 5