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Registered number: 09343782










FGK Representative Service Limited










Financial statements

Information for filing with the registrar

For the Year Ended 31 December 2024

 
FGK Representative Service Limited
Registered number: 09343782

Balance Sheet
As at 31 December 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
3,449
1,094

Cash at bank and in hand
  
119,105
125,870

  
122,554
126,964

Creditors: amounts falling due within one year
  
(15,957)
(17,411)

Net current assets
  
 
 
106,597
 
 
109,553

  

Net assets
  
106,597
109,553


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Share premium account
  
19,000
19,000

Profit and loss account
  
86,597
89,553

  
106,597
109,553


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: 




................................................
Dr E J Fenzl
Director
Date: 14 May 2025

The notes on pages 3 to 5 form part of these financial statements.
Page 1

 
FGK Representative Service Limited
 

Statement of Changes in Equity
For the Year Ended 31 December 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 January 2023
1,000
19,000
100,955
120,955



Loss for the year
-
-
(11,402)
(11,402)



At 1 January 2024
1,000
19,000
89,553
109,553



Loss for the year
-
-
(2,956)
(2,956)


At 31 December 2024
1,000
19,000
86,597
106,597


The notes on pages 3 to 5 form part of these financial statements.
Page 2

 
FGK Representative Service Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2024

1.


General information

FGK Representative Service Limited is a private company, limited by shares, incorporated and domiciled in England and Wales, registration number 09343782. The registered office is The Annexe Saxon House, Castle Street, Guildford, GU1 3UW.

2.Accounting policies

 
2.1

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 following principal accounting policies have been applied:

 
2.2

Going concern

The directors believe that the Company has sufficient resources to ensure the Company meets its liabilities as they fall due. Although the directors forecast continuous low levels of sales over the next two years, the directors believe that there is a future for services of legal representation in UK clinical trials. The directors will continue to monitor the UK market but at this point in time there are no immediate plans to close the Company.

 
2.3

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 except when deferred in other comprehensive income as qualifying cash flow hedges.
Page 3

 
FGK Representative Service Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Revenue is generated through quarterly subscriptions to customers and is recognised as the service
is being provided. 

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

  
2.6

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.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial Instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.



3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Management have not applied any significant judgement or estimates in the preparation of  these financial statements.
Page 4

 
FGK Representative Service Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2024

4.


Employees




The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


5.


Debtors

2024
2023
£
£


Trade debtors
3,000
-

Amounts owed by group undertakings
-
499

Other debtors
449
595

3,449
1,094



6.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,000 (2023 - 1,000) Ordinary shares of £1.00 each
1,000
1,000

The shares have attached to them full voting, dividend and capital distribution (including on winding up) rights; they do not confer any rights of redemption.



7.


Related party transactions

The Company has taken the exemption under FRS 102, Section 33 Related Party Disclosures paragraph 33.1A, whereby the company is not required to disclose transactions with other wholly owned subsidiaries and members of the group.


8.


Controlling party

The controlling party is FGK Clinical Research GmbH. The registered office address of the parent is FGK Clinical Research GmbH, Heimeranstrasse 35, 80339 Munich, Germany.


9.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 28 May 2025 by Allan Pinner FCA (Senior Statutory Auditor) on behalf of Kreston Reeves LLP.


Page 5