Acorah Software Products - Accounts Production 16.5.460 false true true 31 December 2023 1 January 2023 false 26 August 2025 1 January 2024 31 December 2024 31 December 2024 04021383 G Amore M R Clayton J Espinoza R I Campbell K Gogay true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04021383 2023-12-31 04021383 2024-12-31 04021383 2024-01-01 2024-12-31 04021383 frs-core:CurrentFinancialInstruments 2024-12-31 04021383 frs-core:ShareCapital 2024-12-31 04021383 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 04021383 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04021383 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 04021383 frs-bus:SmallEntities 2024-01-01 2024-12-31 04021383 frs-bus:Audited 2024-01-01 2024-12-31 04021383 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 04021383 1 2024-01-01 2024-12-31 04021383 frs-bus:Director1 2024-01-01 2024-12-31 04021383 frs-bus:Director2 2024-01-01 2024-12-31 04021383 frs-bus:Director3 2024-01-01 2024-12-31 04021383 frs-bus:Director4 2024-01-01 2024-12-31 04021383 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 04021383 frs-countries:EnglandWales 2024-01-01 2024-12-31 04021383 2022-12-31 04021383 2023-12-31 04021383 2023-01-01 2023-12-31 04021383 frs-core:CurrentFinancialInstruments 2023-12-31 04021383 frs-core:ShareCapital 2023-12-31 04021383 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 04021383
Gynocare Limited
Financial Statements
For The Year Ended 31 December 2024
Mushambi and Associates Limited
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 04021383
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 208 208
Cash at bank and in hand 87,112 100,067
87,320 100,275
Creditors: Amounts Falling Due Within One Year 5 (6,791 ) (10,300 )
NET CURRENT ASSETS (LIABILITIES) 80,529 89,975
TOTAL ASSETS LESS CURRENT LIABILITIES 80,529 89,975
NET ASSETS 80,529 89,975
CAPITAL AND RESERVES
Called up share capital 6 2 2
Profit and Loss Account 80,527 89,973
SHAREHOLDERS' FUNDS 80,529 89,975
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.
The financial statements were approved by the board of directors on 26 August 2025 and were signed on its behalf by:
J Espinoza
Director
26 August 2025
The notes on pages 2 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Gynocare Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04021383 . The registered office is Abbott Uk Abbott House, Vanwall Business Park, Vanwall Road, Maidenhead, Berkshire, SL6 4XE.
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. Going Concern Disclosure
Although the company has a positive balance sheet and a net cumulative profit and loss reserves carried forward, the company did not trade in the current as well in the previous financial year.
In April 2023, the ultimate controlling party proposed to liquidate the company and the directors do not consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements in the foreseeable future. The financial statements have therefore been prepared on a ''break-up basis'' which resulted in no material difference.
2.3. 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.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.5. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks,
other short-term highly liquid investments that mature in no more than three months from the date of acquisition and
are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.6. Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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2.7. Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Debtors
2024 2023
£ £
Due within one year
Other debtors 208 208
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Accruals and deferred income 6,791 10,300
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
7. Contingent Liabilities
The company did not have any contingent liabilities as at the reporting date (2023: £Nil).
8. Post Balance Sheet Events
There are no post balance sheet events after the reporting date.
9. Related Party Transactions
As at 31 December 2024 an amount of £208 (2023: £208) was receivable from the former principal, now part of Abbott Operations Uruguay S.R.L.
As per forgiveness agreement between Abbott Operations Uruguay S.R.L and Gynocare Limited dated 24 October 2022, all previous amounts due between the two parties , other than the current balance as per above, were extinguished.
10. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to assist with the preparation of the financial statements.
11. Ultimate Controlling Party
Gynocare Limited is wholly owned by Abbott Laboratories (Chile) Holdo SpA, a company registered in Chile. The company's ultimate controlling party is Abbott Laboratories, a company registered in Illinois in USA whose address is 100 Abbott Park Road, Abbott Road, Illinois, 60064, USA.
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12. Audit Information
The auditor's report on the accounts of Gynocare Limited for the year ended 31 December 2024 was unqualified and was signed on 26 August 2025.
The auditors emphasised the following matter without qualifying their report:
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 identified a material uncertainty that may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.
We draw your attention to note 2.2 of the financial statements relating to the going concern disclosure which is explained by the proposal in April 2023 by the Ultimate Controlling Party to liquidate the company as it is inactive. Therefore, the directors do not consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements in the foreseeable future. Accordingly, the financial statements have been prepared on a break up basis other than the going concern as described in note 2.2. Our opinion is not modified in respect of this matter.
The auditor's report was signed by Tafadzwa George Mushambi BSc (Hons) FCCA (Senior Statutory Auditor) for and on behalf of Mushambi and Associates Limited , Statutory Auditor.
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