REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2024 |
for |
STD Pharmaceutical Products Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2024 |
for |
STD Pharmaceutical Products Limited |
STD Pharmaceutical Products Limited (Registered number: 00905546) |
Contents of the Financial Statements |
for the Year Ended 31 December 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
STD Pharmaceutical Products Limited |
Company Information |
for the Year Ended 31 December 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditors |
2 Wyevale Business Park |
Kings Acre |
Hereford |
Herefordshire |
HR4 7BS |
STD Pharmaceutical Products Limited (Registered number: 00905546) |
Statement of Financial Position |
31 December 2024 |
31.12.24 | 31.12.23 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Capital Contribution |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
STD Pharmaceutical Products Limited (Registered number: 00905546) |
Notes to the Financial Statements |
for the Year Ended 31 December 2024 |
1. | STATUTORY INFORMATION |
STD Pharmaceutical Products Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going Concern |
The directors have considered the basis on which the financial statements have been prepared, and are confident that the going-concern basis is appropriate for the following reasons: |
The company is transitioning to a predominantly selling organisation responsible for distributing the Fibrovein range of products to customers in the UK. It has no premises, no staff and only limited overheads. Its selling and administrative processes are contracted out to a specialist company in the pharmaceutical sector. It remains responsible for protecting its pharmaceutical licences worldwide. |
The company has cash in the bank at the end of December 2024 of £1,030,275 at prevailing exchange rates. |
On 31st December there were sales ledger balances of approximately £446,133 again at prevailing exchange rates. The company also has a stocks balance of approximately £715,329 as shown in the financial statements. |
The company retains the support of its parent company Chemische Fabrik Kreussler & Co. GmbH. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Net realisable value is based on estimated selling price less further costs to completion and disposal. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
STD Pharmaceutical Products Limited (Registered number: 00905546) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Trade debtors |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
7. | RELATED PARTY DISCLOSURES |
The company is a wholly owned subsidiary of Fibrovein Holdings Limited. Its ultimate parent company is Chemische Fabrik Kreussler & Co. GmbH (Kreussler). |
Management charges of £Nil (31st December 2023: £130,002) were paid to a company controlled by a Director during the year. |
The company has made sales of £281,449 (31st December 2023: £Nil) to, and purchases of £228,653 (31st December 2023: £Nil) from Kreussler. On 31st December 2024, the company owed Kreussler £167,547 (31st December 2023: £Nil) and was owed £228,877 (31st December 2023: £Nil) by Kreussler. |