Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-316false2024-01-01falseacquisition, development and sales of pharmaceuticalproducts4trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04017405 2024-01-01 2024-12-31 04017405 2023-01-01 2023-12-31 04017405 2024-12-31 04017405 2023-12-31 04017405 c:Director1 2024-01-01 2024-12-31 04017405 d:FurnitureFittings 2024-01-01 2024-12-31 04017405 d:FurnitureFittings 2024-12-31 04017405 d:FurnitureFittings 2023-12-31 04017405 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 04017405 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 04017405 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 04017405 d:Goodwill 2024-12-31 04017405 d:Goodwill 2023-12-31 04017405 d:CurrentFinancialInstruments 2024-12-31 04017405 d:CurrentFinancialInstruments 2023-12-31 04017405 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 04017405 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04017405 d:ShareCapital 2024-12-31 04017405 d:ShareCapital 2023-12-31 04017405 d:RetainedEarningsAccumulatedLosses 2024-12-31 04017405 d:RetainedEarningsAccumulatedLosses 2023-12-31 04017405 c:OrdinaryShareClass1 2024-01-01 2024-12-31 04017405 c:OrdinaryShareClass1 2024-12-31 04017405 c:OrdinaryShareClass1 2023-12-31 04017405 c:FRS102 2024-01-01 2024-12-31 04017405 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 04017405 c:FullAccounts 2024-01-01 2024-12-31 04017405 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04017405 d:WithinOneYear 2024-12-31 04017405 d:WithinOneYear 2023-12-31 04017405 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04017405









BIOPROJET UK LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
BIOPROJET UK LIMITED
REGISTERED NUMBER: 04017405

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
3,232
2,943

  
3,232
2,943

Current assets
  

Stocks
 6 
885,225
581,722

Debtors: amounts falling due within one year
 7 
662,000
549,597

Cash at bank and in hand
 8 
127,153
698,086

  
1,674,378
1,829,405

Creditors: amounts falling due within one year
 9 
(423,460)
(697,052)

Net current assets
  
 
 
1,250,918
 
 
1,132,353

Total assets less current liabilities
  
1,254,150
1,135,296

  

Net assets
  
1,254,150
1,135,296


Capital and reserves
  

Called up share capital 
 10 
231,146
231,146

Profit and loss account
  
1,023,004
904,150

  
1,254,150
1,135,296


Page 1

 
BIOPROJET UK LIMITED
REGISTERED NUMBER: 04017405
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 income and retained earnings 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 on 6 August 2025.





................................................
Jean-Guillaume Lecomte
Director


The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
BIOPROJET UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Bioprojet UK Limited is a private company limited by shares, incorporated in England and Wales. The principal activity throughout the year was the acquisition, development and sales of pharmaceutical products. 

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

Revenue

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

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 3

 
BIOPROJET UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
15% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

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.

 
2.7

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.
 
2.8

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.

Page 4

 
BIOPROJET UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.9

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.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.11

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.12

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
BIOPROJET UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.13

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives of 5 years.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 6).


4.


Intangible assets




Develop-ment costs
Goodwill
Total

£
£
£



Cost


At 1 January 2024
1,323,002
495,000
1,818,002



At 31 December 2024

1,323,002
495,000
1,818,002



Amortisation


At 1 January 2024
1,323,002
495,000
1,818,002



At 31 December 2024

1,323,002
495,000
1,818,002



Net book value



At 31 December 2024
-
-
-



At 31 December 2023
-
-
-



Page 6

 
BIOPROJET UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 January 2024
37,927


Additions
1,217



At 31 December 2024

39,144



Depreciation


At 1 January 2024
34,984


Charge for the year on owned assets
928



At 31 December 2024

35,912



Net book value



At 31 December 2024
3,232



At 31 December 2023
2,943


6.


Stocks

2024
2023
£
£

Goods to be sold
885,225
581,722

885,225
581,722




Page 7

 
BIOPROJET UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Debtors

2024
2023
£
£


Trade debtors
648,604
395,297

Other debtors
-
140,623

Prepayments and accrued income
13,396
13,677

662,000
549,597



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
127,153
698,086

127,153
698,086



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
42,191
45,435

Amounts owed to group undertakings
340,115
631,200

Other taxation and social security
36,504
15,700

Other creditors
-
327

Accruals and deferred income
4,650
4,390

423,460
697,052



10.


Share capital

2024
2023
£
£
Authorised



100,000,000 (2023 - 100,000,000) Ordinary shares of £0.01 each
1,000,000
1,000,000

Allotted, called up and fully paid



23,114,580 (2023 - 23,114,580) Ordinary shares of £0.01 each
231,146
231,146


Page 8

 
BIOPROJET UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


Pension commitments

The Company operates a defined contributions pension scheme in respect of the employees. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £17,768 (2023 - £22,945). 


12.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
-
30,739

-
30,739


13.


Ultimate Parent Undertaking and Controlling party

The Company is controlled by Bioprojet Pharma Sarl, by virtue of its shareholding. 
The ultimate holding company is Bioprojet Société Civile. 
The address of this company is 30 Rue des Francs-Bourgeois, 75003 Paris, France.

 
Page 9