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Company registration number: 05453655

Kebomed UK Ltd.

Filleted Annual Report and Financial Statements

for the Year Ended 30 June 2024

 

Kebomed UK Ltd.

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 6

 

Kebomed UK Ltd.

(Registration number: 05453655)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Current assets

 

Stocks

5

812,176

952,985

Debtors

6

2,052,425

962,209

Cash at bank and in hand

 

1,285,594

985,524

 

4,150,195

2,900,718

Creditors: Amounts falling due within one year

7

(1,852,378)

(926,323)

Net assets

 

2,297,817

1,974,395

Capital and reserves

 

Called up share capital

65,000

65,000

Profit and loss account

2,232,817

1,909,395

Total equity

 

2,297,817

1,974,395

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The option not to file the profit and loss account and directors’ report has been taken.

Approved and authorised by the Board on 15 October 2024 and signed on its behalf by:
 


G C Laws
Company secretary and director

   
 

Kebomed UK Ltd.

Notes to the Financial Statements
for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 7
Kingsford Rural Business Centre
Kentisbeare
Devon
EX15 2AU

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Sterling (£).

Judgements

The directors have concluded that the going concern basis is appropriate for the preparation of these accounts. This takes account of the profitability of the company, the cash resources available to the company and the ongoing support of the parent company.

Turnover recognition

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers. Turnover is recognised when goods are despatched.

Commission income is recognised on sales made to UK companies over which Kebomed UK Ltd has exclusive UK distribution rights. The commission is recognised at the same point as it is earned.

 

Kebomed UK Ltd.

Notes to the Financial Statements
for the Year Ended 30 June 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised on timing differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reivewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible assets

Tangible assets are stated at cost, less accumulated depreciation and accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation of tangible assets

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Kebomed UK Ltd.

Notes to the Financial Statements
for the Year Ended 30 June 2024

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.

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.

Creditors

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

Intercompany balances

The company has balances with other members of the wider group. These are initially measured at transaction price and any debtor balances are subsequently reviewed for impairment.

Interest is charged on balances older than 60 days, this is recognised in the profit and loss account.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Kebomed UK Ltd.

Notes to the Financial Statements
for the Year Ended 30 June 2024

Defined contribution pension obligation

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 payments obligations.

The contributions are recognised as an expense in the profit and loss account 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 15 (2023 - 16).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

13,450

13,450

At 30 June 2024

13,450

13,450

Depreciation

At 1 July 2023

13,450

13,450

At 30 June 2024

13,450

13,450

Carrying amount

At 30 June 2024

-

-

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

812,176

952,985

6

Debtors

 

Kebomed UK Ltd.

Notes to the Financial Statements
for the Year Ended 30 June 2024

Current

2024
£

2023
£

Trade debtors

952,423

715,290

Prepayments

12,351

9,714

Amounts owed by group undertakings

1,087,651

237,205

 

2,052,425

962,209

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

1,414,301

590,053

Taxation and social security

306,397

206,954

Accruals and deferred income

131,680

129,316

1,852,378

926,323

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £36,000 (2023 - £43,455).

9

Parent and ultimate parent undertaking

The company's immediate parent is Kebomed Europe Holding AG, incorporated in Switzerland.

 

The parent of the smallest group in which these financial statements are consolidated is YGH AG, incorporated in Switzerland.

The address of YGH AG is:
Platz 3, CH-6039, Root D4, Switzerland

10

Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 16 October 2024 was Robert Oram BFP FCA, who signed for and on behalf of Albert Goodman LLP.