BrightAccountsProduction v1.0.0 v1.0.0 2023-05-03 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is to provide services to clients in the area of medicinal product importation and batch release. 29 July 2024 0 14844184 2023-12-31 14844184 2023-05-02 14844184 2023-05-03 2023-12-31 14844184 uk-bus:PrivateLimitedCompanyLtd 2023-05-03 2023-12-31 14844184 uk-curr:PoundSterling 2023-05-03 2023-12-31 14844184 uk-bus:AbridgedAccounts 2023-05-03 2023-12-31 14844184 uk-core:ShareCapital 2023-12-31 14844184 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 14844184 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 14844184 uk-bus:FRS102 2023-05-03 2023-12-31 14844184 uk-core:ParentEntities 2023-05-03 2023-12-31 14844184 uk-core:UltimateParent 2023-05-03 2023-12-31 14844184 2023-05-03 2023-12-31 14844184 uk-bus:Director1 2023-05-03 2023-12-31 14844184 uk-bus:Director2 2023-05-03 2023-12-31 14844184 uk-bus:AuditExempt-NoAccountantsReport 2023-05-03 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
MIAS Pharma UK Limited
 
Abridged Unaudited Financial Statements
 
for the financial period from 3 May 2023 (date of incorporation) to 31 December 2023



MIAS Pharma UK Limited
Company Registration Number: 14844184
ABRIDGED BALANCE SHEET
as at 31 December 2023

Dec 23
Notes £
 
Current Assets
Debtors 91,900
Cash at bank and in hand 12,876
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104,776
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Creditors: amounts falling due within one year (260,294)
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Net Current Liabilities (155,518)
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Total Assets less Current Liabilities (155,518)
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Capital and Reserves
Called up share capital 100
Retained earnings (155,618)
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Equity attributable to owners of the company (155,518)
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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).
       
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
       
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.
For the financial period from 3 May 2023 (date of incorporation) to 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
       
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial period in question in accordance with section 476 of the Companies Act 2006.
       
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its profit and loss for the financial period in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
       
Approved by the Board and authorised for issue on 29 July 2024 and signed on its behalf by
       
       
Ann McGee     Stephen Smyth
Director     Director
       



MIAS Pharma UK Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial period from 3 May 2023 (date of incorporation) to 31 December 2023

   
1. General Information
 
MIAS Pharma UK Limited is a company limited by shares incorporated and registered in the United Kingdom. The registered number of the company is 14844184. The registered office of the company is Vision Park, Chivers Way, Histon, Cambridge, Cambridgeshire, CB249AD, United Kingdom which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial period ended 31 December 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial period and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Period of financial statements
 
The financial statements are for the 7 month 29 days period from 3 May 2023 (date of incorporation) to 31 December 2023.
   
4. Going concern
 
The Company incurred a loss in the current period of £155,618 and at 31st December 2023 has net current liabilities of £155,518. The loss arises principally from costs incurred establishing the business in the United Kingdom. At 31st December 2023 the Parent Company is owed £159,383. The Company has received assurances from its Parent Company that it will not seek repayment of this loan until the Company has the ability to do so. In addition, financial and cashflow projections indicate that the company will be profitable in the near future.

For the reasons set out above the directors consider it appropriate to prepare the financial statements on a going concern basis.
   
5. Statement on previous periods
 
The company did not present financial statements for previous periods.
     
6. Employees
 
The average monthly number of employees, including directors, during the financial period was 2, (May 23 - 2).
     
7. Capital commitments
 
The company had no material capital commitments at the financial period-ended 31 December 2023.
   
8. Parent and ultimate parent company
 
The company regards MIAS Pharma Limited as its parent company.
 
The company's ultimate parent undertaking is MIAS Pharma Holdings Limited.
The address of MIAS Pharma Holdings Limited is Suite 1, Stafford House, Strand Road, Portmarnock, Co. Dublin, Republic of Ireland.
 
   
9. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial period-end.