ACCOUNTS - Final Accounts preparation

Registered number: 09301085

REIG JOFRE UK LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

REIG JOFRE UK LIMITED

DIRECTORS' RESPONSIBILITIES STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2024

The directors are responsible for preparing the Directors' Report 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Company's financial statements 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 to 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.

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REIG JOFRE UK LIMITED

REGISTERED NUMBER:09301085

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

FIXED ASSETS
Intangible assets	5		-		416,169
			-		416,169
CURRENT ASSETS
Stocks	6	3,009,311		1,059,076
Debtors due within 1 year	7	1,446,141		625,725
Debtors due after more than 1 year	7	3,531,431		3,281,431
Cash at bank and in hand	8	97,937		309,599
		8,084,820		5,275,831
Creditors: amounts falling due within one year	9	(2,876,835)		(497,465)
NET CURRENT ASSETS			5,207,985		4,778,366
TOTAL ASSETS LESS CURRENT LIABILITIES			5,207,985		5,194,535

NET ASSETS			5,207,985		5,194,535

CAPITAL AND RESERVES
Called up share capital	10	4,056,000	4,056,000
Profit and loss account		1,151,985	1,138,535
		5,207,985	5,194,535

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:

Sr. G R Zapatero

Director

Date: 30 September 2025

The notes on pages 3 to 10 form part of these financial statements.

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REIG JOFRE UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	GENERAL INFORMATION

Reig Jofre UK Limited is a private Company limited by shares incorporated in England and Wales. The registered office is Follaton House, Plymouth Road, Totnes, Devon, England, TQ9 5NE. The company's registered number is 09301085.

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

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. This has been assessed for the twelve months from the date of signing these financial statements.

Reig Jofre UK Limited is a wholly owned subsidiary of Laboritorio Reig Jofre SA (a public company incorporated in Spain). The parent company has expressed its intent to continue to support the Company for the foreseeable future and ensure that it has sufficient working capital available to meet its liabilities as they fall due in the normal course of business for the next 12 months.

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.

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

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REIG JOFRE UK 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:

Sale of goods

Revenue 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 revenue 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.

2.5

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.

2.6

INTEREST INCOME

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

2.7

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

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REIG JOFRE UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (continued)

2.8

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.9

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.

The estimated useful lives range as follows:

Marketing Authorisations

years

2.10

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 reporting 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.

2.11

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.

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REIG JOFRE UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (continued)

2.12

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.

2.13

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.

3.	JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the Company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources.

The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The critical judgments and sources of estimation uncertainty made by management that have a significant effect on the amounts recognised in the financial statements are described below.

Operating lease commitments

The company has entered into a commercial car lease and as a lessee it obtains the use of the vehicle. The classification of such leases as operating or finance lease requires the company to determine, based on an evaluation of the terms and conditions of the arrangements, whether it retains or acquires the significant risks and rewards of ownership of these assets and accordingly whether the lease requires an asset and liability to be recognised in the statement of financial position.

Impairment of fixed assets

The company determines whether there are indicators of impairment of intangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Bad debt provision

Management makes provision for specific doubtful debts when the likelihood of full recoverability is deemed to be improbable.

Stock provision

Management have considered slow moving stock and expected future custom in relation to the year end stock listing in order to determine an appropriate stock provision.

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REIG JOFRE UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

EMPLOYEES

The average monthly number of employees, including the directors, during the year was as follows:

	2024	2023
	No.	No.

Employees	2	1

The directors are employed and remunerated by the parent company.

5.	INTANGIBLE ASSETS

		Marketing Authorisations
		£
	COST
	At 1 January 2024	4,308,166
	At 31 December 2024	4,308,166
	AMORTISATION
	At 1 January 2024	3,891,997
	Charge for the year	416,169
	At 31 December 2024	4,308,166
	NET BOOK VALUE
	At 31 December 2024	-
	At 31 December 2023	416,169

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REIG JOFRE UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

6.	STOCKS
		2024	2023
		£	£

Finished goods and goods for resale	3,009,311	1,059,076
	3,009,311	1,059,076

DEBTORS

					2024	2023
					£	£

DUE AFTER MORE THAN ONE YEAR
Amounts owed by group undertakings	3,531,431	3,281,431
	3,531,431	3,281,431
DUE WITHIN ONE YEAR
Trade debtors	1,147,465	418,392
Other debtors	276,624	178,982
Deferred taxation	22,052	28,351
	4,977,572	3,907,156

Amounts owed by group undertakings includes an unsecured loan that matures on 31 December 2025. Interest accrues at the Euribor interest rate plus a margin of 1.75%.

8.	CASH AND CASH EQUIVALENTS
		2024	2023
		£	£

Cash at bank and in hand	97,937	309,599
	97,937	309,599

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REIG JOFRE UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

9.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2024	2023
		£	£

Trade creditors	55,701	48,124
Amounts owed to group undertakings	2,615,598	353,860
Other taxation and social security	158,872	53,262
Other creditors	1,877	1,704
Accruals and deferred income	44,787	40,515
	2,876,835	497,465

10.	SHARE CAPITAL
		2024	2023
		£	£

ALLOTTED, CALLED UP AND FULLY PAID

4,056,000 (2023: 4,056,000) Ordinary shares of £1.00 each	4,056,000	4,056,000

11.

RESERVES

Profit and loss account

The profit and loss account includes all retained profits and losses from the current and previous periods.

12.	PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. 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 £15,343 (2023: £5,696). Contributions totalling £1,877 (2023: £1,704) were payable to the fund at the reporting date and are included in creditors.

13.	RELATED PARTY TRANSACTIONS
	The Company has taken exemptions under FRS 102 Section 33.1A to not disclose any related party transactions entered into in the year with 100% owned group members.

14.	CONTROLLING PARTY

The Company's ultimate parent company is Laboritorio Reig Jofre SA (incorporated in spanish as a public limited company), who owned 100% share capital.

The registered office of Laboritorio Reig Jofre SA is Gran Capita, 10 Sant Joan Despi, Barcelona, Spain, 08970. Copies of the consolidated accounts can be obtained from this address or the parent company's website. https://reigjofre.com /en/

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REIG JOFRE UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

15.	AUDITORS' INFORMATION

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

The audit report was signed on 30 September 2025 by Matthew Haskell ACA (Senior Statutory Auditor) on behalf of Bishop Fleming Audit Limited.

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