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Registered Number: 14499215
England and Wales

 

 

 


Abridged Accounts


for the year ended 31 December 2024

for

GRINDEKS KALCEKS UK LIMITED

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 5 931    724 
931    724 
Current assets      
Stocks 213,773   
Debtors 49,817    1,639 
Cash at bank and in hand 26,650    10,258 
290,240    11,897 
Creditors: amount falling due within one year (48,534)   (18,633)
Net current assets 241,706    (6,736)
 
Total assets less current liabilities 242,637    (6,012)
Creditors: amount falling due after more than one year (378,172)   (71,245)
Accruals and deferred income (226,168)  
Net assets (361,703)   (77,257)
 

Capital and reserves
     
Called up share capital 6 1,725    1,725 
Profit and loss account (363,428)   (78,982)
Shareholders' funds (361,703)   (77,257)
 


These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 26 March 2025 and were signed on its behalf by:


-------------------------------
Julie WORTH
Director
-------------------------------
Juris HMELNICKIS
Director
1
General Information
GRINDEKS KALCEKS UK LIMITED is a private company, limited by shares, registered in England and Wales, registration number 14499215, registration address CENTRUM BUILDING, NORWICH RESEARCH PARK NORWICH, NR4 7UG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The company is currently in the process of obtaining the necessary license to sell pharmaceutical products in the United Kingdom. During this period, the company's ability to generate revenue is significantly limited, and as such, it is reliant on external financial support to continue its operations.

The parent company has confirmed its intention and ability to provide necessary financial support to the company. This support is expected to be sufficient to meet the company's operational and capital requirements until the company receives the license and commences its intended business operations.
The directors believe that the financial support from the parent company eliminates the material uncertainties over the company's ability to continue as a going concern. Consequently, the directors continue to adopt the going concern basis in preparing these financial statements.

Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 4 years Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Directors' Emoluments

2024
£
  2023
£
Administrative Expenses
Directors Salaries 123,000    63,750 
123,000    63,750 
 
Number of directors to whom retirement benefits accrued Number   Number
Defined contribution plans 1    1 

3.

Average number of employees

Average number of employees during the year was 2 (2023 : 1).
4.

Audit Information

The auditor's report on the accounts of GRINDEKS KALCEKS UK LIMITED for the year ended 31 December 2024 was unqualified.

The auditor's report was signed by (Senior Statutory Auditor) for and on behalf of Ryan Falls (F.C.A) for and on behalf of Chartered Accountants and Statutory Auditors on 26 March 2025.
5.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 January 2024 828    828 
Additions 482    482 
Disposals  
At 31 December 2024 1,310    1,310 
Depreciation
At 01 January 2024 104    104 
Charge for year 275    275 
On disposals  
At 31 December 2024 379    379 
Net book values
Closing balance as at 31 December 2024 931    931 
Opening balance as at 01 January 2024 724    724 


6.

Share Capital

Authorised
1,725 Class A shares of £1.00 each
Allotted, called up and partly paid
2024
£
  2023
£
1,725 Class A shares of £1.00 each 1,725    1,725 
1,725    1,725 

7.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2024
£
 2023
£
 2024
£
 2023
£
JSC Grindeks

During the year, the company had related party transactions, consisting of a loan received from the parent company and the accrued interest thereon, as disclosed in Notes 7 and 8 to the financial statements.
2