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Company No: SC367055 (Scotland)

PROFACTOR PHARMA LTD

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

PROFACTOR PHARMA LTD

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

PROFACTOR PHARMA LTD

COMPANY INFORMATION

For the financial year ended 31 October 2024
PROFACTOR PHARMA LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2024
Directors Mr Jaymin Amin
Dr Ian Fotheringham
Dr Vrolyr Gerskowitch (Resigned 31 January 2024)
Secretary Ms Eugenia Wachters
Registered office Moubray Building
Edinburgh Technopool C/O Ingenza Limited
Milton Bridge
Penicuik
Scotland
EH26 0GB
United Kingdom
Company number SC367055 (Scotland)
Accountant Kreston Reeves LLP
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
PROFACTOR PHARMA LTD

BALANCE SHEET

As at 31 October 2024
PROFACTOR PHARMA LTD

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Current assets
Debtors 4 1,576 4,954
Cash at bank and in hand 324,477 199,165
326,053 204,119
Creditors: amounts falling due within one year 5 ( 228,053) ( 108,032)
Net current assets 98,000 96,087
Total assets less current liabilities 98,000 96,087
Net assets 98,000 96,087
Capital and reserves
Called-up share capital 6 40,619 40,619
Share premium account 3,539,565 3,539,565
Profit and loss account ( 3,482,184 ) ( 3,484,097 )
Total shareholders' funds 98,000 96,087

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Profactor Pharma Ltd (registered number: SC367055) were approved and authorised for issue by the Board of Directors on 13 May 2025. They were signed on its behalf by:

Mr Jaymin Amin
Director
PROFACTOR PHARMA LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
PROFACTOR PHARMA LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Profactor Pharma Ltd is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The company's registered number is SC367055. The address of the Company's registered office is C/O Ingenza Limited, Roslin Innovation Centre, Charnock Bradley Building, Easter Bush Campus, Bush Farm Road, Roslin, Midlothian, Scotland, EH25 9RG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £1.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 7

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 November 2023 33,852 33,852
Disposals ( 33,852) ( 33,852)
At 31 October 2024 0 0
Accumulated depreciation
At 01 November 2023 33,852 33,852
Disposals ( 33,852) ( 33,852)
At 31 October 2024 0 0
Net book value
At 31 October 2024 0 0
At 31 October 2023 0 0

4. Debtors

2024 2023
£ £
Prepayments 1,576 2,882
VAT recoverable 0 2,072
1,576 4,954

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 3,943 16,063
Accruals 223,037 145,826
Corporation tax 0 ( 60,000)
Other taxation and social security 1,073 6,143
228,053 108,032

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
40,619 Ordinary shares of £ 1.00 each 40,619 40,619