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Registered number: 14475560
Biofrontera UK Limited
Financial Statements
For The Year Ended 31 December 2024
Nicholas Cliffe & Co Limited
Mill House
Mill Court
Great Shelford
Cambridgeshire
CB22 5LD
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 14475560
31 December 2024 31 December 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,362 3,037
2,362 3,037
CURRENT ASSETS
Stocks 5 615,380 450,297
Debtors 6 78,023 41,217
Cash at bank and in hand 67,153 15,727
760,556 507,241
Creditors: Amounts Falling Due Within One Year 7 (1,617,990 ) (982,811 )
NET CURRENT ASSETS (LIABILITIES) (857,434 ) (475,570 )
TOTAL ASSETS LESS CURRENT LIABILITIES (855,072 ) (472,533 )
NET LIABILITIES (855,072 ) (472,533 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (855,073 ) (472,534 )
SHAREHOLDERS' FUNDS (855,072) (472,533)
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Pilar De La Huerta
Director
16 June 2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Biofrontera UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14475560 . The registered office is Davidson House, Forbury Square, Reading, Berkshire, RG1 3EU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% - Straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Page 3
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 January 2024 3,374
As at 31 December 2024 3,374
Depreciation
As at 1 January 2024 337
Provided during the period 675
As at 31 December 2024 1,012
Net Book Value
As at 31 December 2024 2,362
As at 1 January 2024 3,037
5. Stocks
31 December 2024 31 December 2023
£ £
Stock 615,380 450,297
6. Debtors
31 December 2024 31 December 2023
£ £
Due within one year
Trade debtors 67,019 37,355
Prepayments and accrued income 7,324 761
Other debtors 3,680 1,354
VAT - 1,747
78,023 41,217
7. Creditors: Amounts Falling Due Within One Year
31 December 2024 31 December 2023
£ £
Trade creditors 43,199 46,933
Other taxes and social security 5,069 3,954
VAT 10,216 -
Accruals and deferred income 36,777 66,676
Amounts owed to group undertakings 1,522,729 865,248
1,617,990 982,811
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Page 4
8. Share Capital
31 December 2024 31 December 2023
£ £
Allotted, Called up and fully paid 1 1
9. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
10. Audit Information
The auditor's report on the accounts of Biofrontera UK Limited for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by Nicholas Cliffe (Senior Statutory Auditor) for and on behalf of Nicholas Cliffe & Co Limited , Statutory Auditor.
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