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REGISTERED NUMBER: 02926721 (England and Wales)


























Strategic Report,

Report of the Directors and

Financial Statements

for the Year Ended 31 December 2024

for

Beaphar UK Limited

Beaphar UK Limited (Registered number: 02926721)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Income Statement 6

Other Comprehensive Income 7

Balance Sheet 8

Statement of Changes in Equity 9

Notes to the Financial Statements 10


Beaphar UK Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: J H L Aa
D Aa





SECRETARY: L Wallhead





REGISTERED OFFICE: Rook Tree Farm
Withersfield Road
Great Wratting
Haverhill
Suffolk
CB9 7HD





REGISTERED NUMBER: 02926721 (England and Wales)





AUDITORS: Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Beaphar UK Limited (Registered number: 02926721)

Strategic Report
for the Year Ended 31 December 2024

The directors present their strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS
The principal activity of the company continues to be the marketing and distribution of veterinary medicines, healthcare and foods to the pet market.

During the last financial year the company saw turnover decrease slightly as a result of the loss of some major high street retailers.

PRINCIPAL RISKS AND UNCERTAINTIES
The process of risk acceptance and risk management is addressed through a framework of policies, procedures and internal controls. All policies agreed are subject to ongoing review by management. Compliance with regulation, legal and ethical standards is a high priority for the company and the Directors recognise that it is essential for future growth.

RESULTS AND PERFORMANCE INCLUDING KEY PERFORMANCE INDICATORS
The results for the company for the year, as set out in the financial statements, show a profit on ordinary activities after taxation of £370k (2023 : £268k). The shareholders' funds of the company total £4.38m (2023 : £4.01m).

Gross profit as a % of turnover increased slightly to 15.01% from 13.96% in 2023.

FUTURE DEVELOPMENTS
Whilst material prices continued to rise during 2024, the Company remains committed to offering high quality products at an affordable price to consumers. New products will continue to be developed which support this strategy and increase the brand presence of Beaphar.

As a member of the Pet Sustainability Coalition, Beaphar continues to review our impact on the environment and develop sustainable ways to reduce the amount of certain packaging we use in the design and presentation of our range and reduce our overall carbon footprint.

ON BEHALF OF THE BOARD:





L Wallhead - Secretary


21 May 2025

Beaphar UK Limited (Registered number: 02926721)

Report of the Directors
for the Year Ended 31 December 2024

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the marketing and supply of pet healthcare products.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

J H L Aa
D Aa

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:



L Wallhead - Secretary


21 May 2025

Report of the Independent Auditors to the Members of
Beaphar UK Limited

Opinion
We have audited the financial statements of Beaphar UK Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
Beaphar UK Limited


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our work is performed to include an assessment of the susceptibility of the entity's financial statements to material misstatement, including the risk of fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

In identifying and assessing risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

- We plan our work to gain an understanding of the significant laws and regulations that are of significance to the
entity and the sector in which they operate. We perform our work to ensure that the entity is complying with its
legal and regulatory framework.
- We obtained an understanding of how the company is complying with those legal and regulatory frameworks by
making inquiries to the management and people charged with governance.

We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

- Substantive procedures performed in accordance with the ISAs (UK).
- Challenging assumptions and judgments made by management in its significant accounting estimates.
- Identifying and testing journal entries, in particular material journal entries and an assessment of year end
journals.
- Assessing the extent of compliance with the relevant laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Matthew Chadwick BA (Hons), FCA (Senior Statutory Auditor)
for and on behalf of Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

21 May 2025

Beaphar UK Limited (Registered number: 02926721)

Income Statement
for the Year Ended 31 December 2024

2024 2023
Notes £    £    £   

TURNOVER 3 16,324,539 17,550,076

Cost of sales 13,874,214 15,100,697
GROSS PROFIT 2,450,325 2,449,379

Distribution costs 475,982 420,812
Administrative expenses 1,549,608 1,615,255
2,025,590 2,036,067
OPERATING PROFIT and
PROFIT BEFORE TAXATION 424,735 413,312

Tax on profit 6 54,032 145,182
PROFIT FOR THE FINANCIAL YEAR 370,703 268,130

Beaphar UK Limited (Registered number: 02926721)

Other Comprehensive Income
for the Year Ended 31 December 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 370,703 268,130


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

370,703

268,130

Beaphar UK Limited (Registered number: 02926721)

Balance Sheet
31 December 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Stocks 7 3,268,556 2,962,526
Debtors 8 4,917,017 4,177,922
Cash at bank 274,693 215,495
8,460,266 7,355,943
CREDITORS
Amounts falling due within one year 9 4,081,484 3,347,864
NET CURRENT ASSETS 4,378,782 4,008,079
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,378,782

4,008,079

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 12 4,378,780 4,008,077
SHAREHOLDERS' FUNDS 4,378,782 4,008,079

The financial statements were approved by the Board of Directors and authorised for issue on 21 May 2025 and were signed on its behalf by:




J H L Aa - Director



D Aa - Director


Beaphar UK Limited (Registered number: 02926721)

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

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2023 2 3,739,947 3,739,949

Changes in equity
Total comprehensive income - 268,130 268,130
Balance at 31 December 2023 2 4,008,077 4,008,079

Changes in equity
Total comprehensive income - 370,703 370,703
Balance at 31 December 2024 2 4,378,780 4,378,782

Beaphar UK Limited (Registered number: 02926721)

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

1. STATUTORY INFORMATION

Beaphar UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Revenue is recognised at the fair value of the consideration received or receivable for goods supplied, net of returns, discounts and rebates and value added taxes.

The company recognises the revenue when:

a) the significant risks and rewards of ownership have been transferred to the buyer;
b) the company retains no continuing involvement or control over the goods;
c) the amount of revenue can be measured reliably; and
d) it is probable that future economic benefits will flow to the entity.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Debtors are classified as loans and receivables; that is non-derivative financial assets with fixed or determinable payments that are not quoted on any active market.

When initially recognised, debtors are measured at fair value. As these assets are all short-term with no stated interest rate they are valued at the original invoice amounts less payments received rather than being discounted. Fair value approximates amortised cost.

Financial assets are assessed at the end of each accounting period to determine whether there is any objective evidence of impairment. Where no such evidence exists, a provision is made for the loss in value and charged in the profit and loss account to other operating expense.

Financial assets are recognised on the trade date. Financial assets are derecognised when rights to receive cash flows from the asset have expired.

At the present time, the Company does not have any financial assets clarified as held for trading, available for sale or held to maturity. The Company has not designated any financial assets upon initial recognition at fair value through profit or loss.

Creditors are all classified as other liabilities; that is non-derivative financial liabilities with fixed or determinable payments that are not quoted on any active market.

Beaphar UK Limited (Registered number: 02926721)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

When initially recognised, creditors are measured at fair value. When these liabilities are short-term liabilities with no stated interest rate they continue to be valued at the original invoice amounts less amounts paid. After initial recognition, all interest-bearing loans and borrowings are subsequently measured at amortised cost, using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at proceeds received less payments made. Any gains or losses are credited or charged in the profit and loss account to interest payable and other charges.

Financial liabilities are recognised on the trade date. Financial liabilities are derecognised when the obligation under the liability is discharged or cancelled or expires.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
Sale of goods 16,324,539 17,550,076
16,324,539 17,550,076

Beaphar UK Limited (Registered number: 02926721)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

3. TURNOVER - continued

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 16,318,642 17,415,215
Europe 5,897 134,861
16,324,539 17,550,076

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 1,070,499 1,022,849
Social security costs 125,439 121,611
Other pension costs 65,805 59,244
1,261,743 1,203,704

The average number of employees during the year was as follows:
2024 2023

Directors 2 2
Employees 24 24
26 26

2024 2023
£    £   
Directors' remuneration - -

5. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Hire of plant and machinery 2,002 3,306
Auditors' remuneration 14,855 13,675
Foreign exchange differences 17,216 59,941

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 104,523 145,182
Adjustment to prior year tax (50,491 ) -

Tax on profit 54,032 145,182

Beaphar UK Limited (Registered number: 02926721)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 424,735 413,312
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 25%)

106,184

103,328

Effects of:
Expenses not deductible for tax purposes (1,661 ) 1,601
Capital allowances in excess of depreciation - (915 )
Adjustments to tax charge in respect of previous periods (50,491 ) -
Difference relating to change of tax rates - (6,156 )
Overprovision of tax - 47,324
Total tax charge 54,032 145,182

7. STOCKS
2024 2023
£    £   
Raw materials 1,806,078 1,263,750
Finished goods 1,462,478 1,698,776
3,268,556 2,962,526

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,834,748 2,911,844
Amounts owed by group undertakings 2,032,852 1,231,112
Other debtors - 703
Prepayments and accrued income 49,417 34,263
4,917,017 4,177,922

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 300,577 323,018
Amounts owed to group undertakings 2,416,329 1,624,688
Tax 34,031 95,182
Social security and other taxes - 32,367
VAT 491,128 473,894
Other creditors - 7,448
Accruals and deferred income 839,419 791,267
4,081,484 3,347,864

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 79,453 88,386
Between one and five years 25,410 109,431
104,863 197,817

Beaphar UK Limited (Registered number: 02926721)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

10. LEASING AGREEMENTS - continued

During the year there was £92,955 (2023 : £90,527) paid in respect of operating lease rentals.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary 2 2 2

12. RESERVES
Retained
earnings
£   

At 1 January 2024 4,008,077
Profit for the year 370,703
At 31 December 2024 4,378,780

13. ULTIMATE PARENT COMPANY AND ULTIMATE CONTROLLING PARTY

Beaphar Beheer BV, a company incorporated in the Netherlands is the ultimate parent company. Beaphar Beheer BV has a 100% interest in the share capital of the company as at 31 December 2024. Copies of the parent's consolidated financial statements may be obtained from Chamber of Commerce, Watermolenlaan 1, 3447 Gt Woerden, Netherlands.