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REGISTERED NUMBER: 08629933 (England and Wales)













Unaudited Financial Statements

For The Year Ended 31 December 2023

for

ARISE PHARMA LTD

ARISE PHARMA LTD (REGISTERED NUMBER: 08629933)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ARISE PHARMA LTD

Company Information
For The Year Ended 31 December 2023







DIRECTORS: Mrs M Jaykumar Jani
V B Soni
J Pradyuman Jani





SECRETARY: J Pradyuman Jani





REGISTERED OFFICE: 79 College Road
Harrow
Middlesex
Middlesex
HA1 1BD





REGISTERED NUMBER: 08629933 (England and Wales)





ACCOUNTANTS: Ayman Tyler Associates
Accountants & Tax Advisers
79 College Road
Harrow
Middlesex
HA1 1BD

ARISE PHARMA LTD (REGISTERED NUMBER: 08629933)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1 817
Investments 5 103,460 121,460
103,461 122,277

CURRENT ASSETS
Debtors 6 3,360,543 285,134
Cash at bank 1,829,725 2,586
5,190,268 287,720
CREDITORS
Amounts falling due within one year 7 829,278 361,598
NET CURRENT ASSETS/(LIABILITIES) 4,360,990 (73,878 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,464,451

48,399

CREDITORS
Amounts falling due after more than one year 8 4,009 34,077
NET ASSETS 4,460,442 14,322

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 4,459,442 13,322
SHAREHOLDERS' FUNDS 4,460,442 14,322

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ARISE PHARMA LTD (REGISTERED NUMBER: 08629933)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 August 2024 and were signed on its behalf by:




Mrs M Jaykumar Jani - Director



J Pradyuman Jani - Director


ARISE PHARMA LTD (REGISTERED NUMBER: 08629933)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

ARISE PHARMA LTD 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Investments in associates
Investments in associate undertakings are recognised at cost.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

ARISE PHARMA LTD (REGISTERED NUMBER: 08629933)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 5,194
DEPRECIATION
At 1 January 2023 4,377
Charge for year 816
At 31 December 2023 5,193
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 817

5. FIXED ASSET INVESTMENTS

31.12.23 31.12.22
£    £   
Participating interests 110 18,110
Loans to undertakings in which the company has
a participating interest

103,350

103,350
103,460 121,460

Additional information is as follows:
Interest
in
associate
£   
COST
At 1 January 2023 18,110
Additions 409,769
Disposals (427,769 )
At 31 December 2023 110
NET BOOK VALUE
At 31 December 2023 110
At 31 December 2022 18,110

ARISE PHARMA LTD (REGISTERED NUMBER: 08629933)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

5. FIXED ASSET INVESTMENTS - continued
Loans to
associates
£   
At 1 January 2023
and 31 December 2023 103,350

On 18th October 2023 the company purchased 200 Ordinary shares of £1 each for £409,769, representing a 5% Investment in LM Manufacturing Limited. The company subsequently sold these shares on 6th November 2023 for £400,000.

On 6th November 2023, 18,000 Ordinary shares in Liqmeds Limited were sold for an upfront consideration of £1,133,882.73 and a further ascertainable deferred consideration of £3,360,000 receivable on an earn out basis over 3 years from date of completion..

The company currently holds 110 Ordinary shares of £1 each, representing a 22% Investment in Ace Laboratories Limited.

The loans to Associates relates to loans to Ace Laboratories Ltd of £103,350 .

6. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Other debtors 543 285,134

Amounts falling due after more than one year:
Other debtors 3,360,000 -

Aggregate amounts 3,360,543 285,134

Other Debtors balance includes an amount of £3,360,000 of ascertainable deferred consideration to be received on an earn out basis over 3 years..

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other creditors 829,278 361,598

Included in Other Creditors is an amount for £14,365 loan from Wave Pharma Limited, £22,527 loan from JAJ Pharma Limited, £65,660 Director's Current Account credit balance for Mr V B Soni and £306,423 Director's Current Account credit balance for Mrs M Jani.
Also included in Other Creditors is a sum of £409,769 owed to Mr Mohanbhai Raijibhai Bharwad for the transfer of 200 Ordinary Shares of £1.00 each in LM Manufacturing Limited shares to Arise Pharma Ltd.

ARISE PHARMA LTD (REGISTERED NUMBER: 08629933)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans (see note 9) 4,009 34,077

9. LOANS

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 4,009 34,077

The company received a government backed bounce back loan for £50,000 on 17th August 2020.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1,000 Ordinary Share 1.00 1,000 1,000

The shareholdings in the company are as follows;

Mansi Jaykumar Jani 500 Ordinary Shares of £1 each
Vinod Babulal Soni 500 Ordinary Shares of £1 each