| Registered number |
| Ananta Medicare Ltd | |
| Report and accounts | |
| Contents | |
| Page | |
| Company information | 1 |
| Directors' report | 2-3 |
| Strategic report | 4-5 |
| Independent auditor's report | 6-8 |
| Income statement | 9 |
| Statement of comprehensive income | 10 |
| Statement of financial position | 11 |
| Statement of changes in equity | 12 |
| Statement of cash flows | 13 |
| Notes to the financial statements | 14-20 |
| Director's additional information | 21-22 |
| Company Information |
| Directors |
| Secretary |
| S Kumar |
| Auditors |
| 6 Carlton Road |
| Romford |
| Essex |
| RM2 5AA |
| Bankers |
| 47 Ealing Road |
| Wembley |
| HA0 4BA |
| Registered office |
| Suite 1 |
| 2 Station Court |
| Townmead Road |
| Fulham |
| London SW6 2PY |
| Registered number |
| Registered number: | |||||||
| Directors' Report | |||||||
| The directors present their report and financial statements for the year ended |
|||||||
| Principal activities | |||||||
| Future developments | |||||||
| During the year ended 31 December 2023, the company invested £700,000 in obtaining know-how to gain access to registration with UK MHRA. The work on this project is currently ongoing. The Director is confident that the results of this investment will have revenue streams from 2028 onwards. | |||||||
| Foreign currency risk | |||||||
| The company is subject to foreign currency risk given that the functional currency of its operations being USD and the presentation currency being GBP. The company undertakes various mitigation strategies in an attempt to mitigate any losses from foreign currency conversion. | |||||||
| Credit risk | |||||||
| Geo-political risk | |||||||
| The company is subject to geo-political risk due to its customer's main area of operations being Ukraine. At the time of writing, Ukraine is in the middle of a military conflict with Russia; this gives rise to unforseeable risks that would be expected when operating in a war zone. The company has limited ability to mitigate these risks but are looking at diversifying operations outside of Ukraine in the near future. | |||||||
| Dividends | |||||||
| The directors recommend a dividend for the year of £30,000 (2023: £30,000). | |||||||
| Events since the balance sheet date | |||||||
| Directors | |||||||
| The following persons served as directors during the year: | |||||||
| Disclosure of information to auditors | |||||||
| Each person who was a director at the time this report was approved confirms that: | |||||||
| ● | so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and | ||||||
| ● | he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information. | ||||||
| Directors' responsibilities | |||||||
| The directors are responsible for preparing the report and 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 United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102 and applicable law). 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 and then apply them consistently; | ||||||
| ● | make judgements and estimates that are reasonable and prudent; | ||||||
| ● | state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; | ||||||
| ● | 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 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. | |||||||
| Disclosure of information to auditors | |||||||
| Each person who was a director at the time this report was approved confirms that: | |||||||
| ● | so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and | ||||||
| ● | he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information. | ||||||
| This report was approved by the board on |
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| Mr P Jain | |||||||
| Director | |||||||
| Strategic Report | ||
| Introduction: I am pleased to present the strategic report for the financial year 2024. This report provides an overview of the company's performance, considering the significant challenges posed by the ongoing war in Ukraine. Despite these adverse conditions, I am proud to announce that our company remained profitable and maintained a strong cash position throughout the year. Financial Performance (KPI's): Gross Profit Margin: GPM for 2024 was 7.89% (2023: 1.71%), an increase compared to the previous year. The company has remained profitable, despite the market conditions, through the contracts completed during the financial year. The GPM is high this year in relation to 2 very profitable contracts. Net assets: I am pleased to report that the company's net assets have grown from £1,537,810 to £1,542,587. We are confident that we can continue to meet our financial obligations and remain liquid. EBITDA: The compnay has shown strong performance through its EBITDA growing to £951,857 (2023: £701,988) an improvement of 36% from the prior year. Principal Risks and Uncertainties: Ukraine War The ongoing conflict in Ukraine poses a significant risk to our business, primarily due to our primary customer base being located in that region. Management has diligently assessed this risk and acknowledges the considerable uncertainty surrounding its potential impact on the company. In light of this, management maintains a vigilant monitoring of the situation and remains cognizant of its potential consequences. Credit Risk The company is subject to credit risk through its invoicing and lending. The company undertakes various mitigation strategies such as obtaining guarantees against debts and only trading with companies which have a known history of repayment. Logistics In response to the logistical challenges arising from the war in Ukraine, management has proactively and meticulously implemented alternative arrangements for the transportation of goods. These measures were undertaken to guarantee the seamless fulfilment of customer orders placed throughout the financial year. Regulation In line with our steadfast commitment to risk management in a regulated industry, the company has diligently mitigated associated risks by ensuring that all goods sold have successfully undergone the requisite pharmacological tests and possess the necessary certifications. In order to sustain compliance, management remains vigilant in monitoring any changes to regulatory frameworks, thus enabling the company to promptly adapt and maintain adherence to prevailing regulations. Outlook and Future Prospects: The company has a positive outlook and anticipate a more profitable future, with a return to the normal course of business. However, it acknowledges the uncertainty surrounding the timing of this transition. Management have determination to navigate the current challenges and understands the need for flexibility and adaptability in the face of an unpredictable environment. Despite the unknown timeframe for the return to normalcy in the market, the company remains optimistic and committed to pursuing strategies that will drive profitability and position it for success once market conditions stabilize. The company has invested £700,000 in the year ended 31 December 2023 in obtaining know-how to gain access to registration with UK MHRA. The Director is confident that the results of this investment will have revenue streams from 2028 onwards. |
||
| This report was approved by the board on 13 May 2025 and signed by its order. | ||
| Mr S Kumar | ||
| Secretary | ||
| Ananta Medicare Ltd | ||
| Independent auditor's report | ||
| to the member of Ananta Medicare Ltd | ||
| Opinion | ||
| We have audited the financial statements of Ananta Medicare Ltd (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). | ||
| In our opinion the financial statements: | ||
| ● | give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended; | |
| ● | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; | |
| ● | have been prepared in accordance with the requirements of the Companies Act 2006. | |
| Basis for opinion | ||
| We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. | ||
| Material uncertainty related to going concern | ||
| We draw attention to note 16 in the financial statements that indicates the Russian invasion of the Company's Customer's country of operations. As stated in note 16, this event indicates that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter. | ||
| Other information | ||
| The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. | ||
| We have nothing to report in this regard. | ||
| Opinions on other matters prescribed by the Companies Act 2006 | ||
| In our opinion, based on the work undertaken in the course of the audit: | ||
| ● | the information given in the strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and | |
| ● | the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements. | |
| Matters on which we are required to report by exception | ||
| In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report. | ||
| We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: | ||
| ● | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or | |
| ● | the financial statements are not in agreement with the accounting records and returns; or | |
| ● | certain disclosures of directors’ remuneration specified by law are not made; or | |
| ● | we have not received all the information and explanations we require for our audit. | |
| As explained more fully in the directors’ responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. | ||
| In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. | ||
| Auditor’s responsibilities for the audit of the financial statements | ||
| Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. | ||
| Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: | ||
| Our audit is considered capable of detecting irregularities, including fraud by; - Considering and obtaining evidence that the entity has complied with known, relevant laws and regulations. - Developing an understanding of the legal and regulatory framework in which the entity operates and where the entity is based including relevant laws and regulations such as Data Protection Act 2018, Companies Act 2006, Corporation Tax Act 2010, Bribery Act 2010, Law of Ukraine "On Medicines" and Good Distribution Practice. - Collecting evidence that the entity has complied with relevant regulatory framework. - Assessing how the entity's financial statements may be susceptible to material fraud and factoring this into our audit approach. - Developing an overall collective knowledge within the audit team of how instances of non-compliance with relevant laws and regulations can arise and how this can be identified. - Investigating with informed management how they have developed controls to ensure fraud or irregularities are avoided and/or detected. |
||
| A further description of our responsibilities for the audit of the financial statements is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. | ||
| Use of our report | ||
| This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. | ||
| (Senior Statutory Auditor) | 6 Carlton Road | |
| for and on behalf of | ||
| Romford | ||
| Statutory Auditor | Essex | |
| RM2 5AA | ||
| Income Statement | ||||||||
| for the year ended |
||||||||
| Notes | 2024 | 2023 | ||||||
| £ | £ | |||||||
| Turnover | 2 | |||||||
| Cost of sales | ( |
( |
||||||
| Gross profit | ||||||||
| Administrative expenses | ( |
( |
||||||
| Other operating income | ||||||||
| Operating profit | 3 | |||||||
| Interest receivable | ||||||||
| Interest payable | 5 | ( |
( |
|||||
| Profit on ordinary activities before taxation | ||||||||
| Tax on profit on ordinary activities | 6 | ( |
( |
|||||
| Profit for the financial year | ||||||||
| Statement of Comprehensive Income | |||||||
| for the year ended |
|||||||
| Notes | 2024 | 2023 | |||||
| £ | £ | ||||||
| Profit for the financial year | |||||||
| Other comprehensive income | |||||||
| Total comprehensive income for the year | |||||||
| Statement of Financial Position | |||||||
| as at |
|||||||
| Notes | 2024 | 2023 | |||||
| £ | £ | ||||||
| Fixed assets | |||||||
| Intangible assets | 7 | ||||||
| Tangible assets | 8 | ||||||
| Current assets | |||||||
| Debtors | 9 | ||||||
| Long Term Loan | 10 | ||||||
| Cash at bank and in hand | |||||||
| Creditors: amounts falling due within one year | 11 | ( |
( |
||||
| Net current assets | |||||||
| Total assets less current liabilities | |||||||
| Provisions for liabilities | |||||||
| Deferred taxation | 12 | ( |
( |
||||
| Net assets | |||||||
| Capital and reserves | |||||||
| Called up share capital | 13 | ||||||
| Profit and loss account | 14 | ||||||
| Total equity | |||||||
| Mr P Jain | |||||||
| Director | |||||||
| Approved by the board on |
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| Statement of Changes in Equity | ||||||||||
| for the year ended |
||||||||||
| Share | Share | Other | Profit | Total | ||||||
| capital | premium | reserves | and loss | |||||||
| account | ||||||||||
| £ | £ | £ | £ | £ | ||||||
| At 1 January 2023 | - | - | ||||||||
| Profit for the financial year | - | - | - | 49,953 | 49,953 | |||||
| Dividends | - | - | - | ( |
( |
|||||
| At 31 December 2023 | 100 | - | - | 1,537,710 | 1,537,810 | |||||
| At 1 January 2024 | - | - | ||||||||
| Profit for the financial year | - | - | - | |||||||
| Dividends | - | - | - | ( |
( |
|||||
| At 31 December 2024 | - | - | ||||||||
| Statement of Cash Flows | |||||
| for the year ended |
|||||
| Notes | 2024 | 2023 | |||
| £ | £ | ||||
| Operating activities | |||||
| Profit for the financial year | 34,777 | 49,953 | |||
| Adjustments for: | |||||
| Interest receivable | (372,411) | (288,296) | |||
| Interest payable | 1,224,324 | 906,017 | |||
| Tax on profit on ordinary activities | 8,219 | 19,014 | |||
| Depreciation | 948 | 1,185 | |||
| Amortisation of intangible assets | 56,000 | 14,115 | |||
| Decrease in stocks | - | 112,807 | |||
| Decrease in debtors | 5,300,283 | 52,232 | |||
| (Decrease)/increase in creditors | (10,722,315) | 2,827,497 | |||
| ( |
|||||
| Interest received | |||||
| Interest paid | - | ( |
|||
| Corporation tax paid | ( |
||||
| Cash (used in)/generated by operating activities | ( |
||||
| Investing activities | |||||
| Payments to acquire intangible fixed assets | - | ( |
|||
| Payments to acquire tangible fixed assets | ( |
- | |||
| Cash used in investing activities | ( |
( |
|||
| Net cash (used)/generated | |||||
| Cash (used in)/generated by operating activities | ( |
||||
| Cash used in investing activities | ( |
( |
|||
| Net cash (used)/generated | ( |
||||
| Cash and cash equivalents at 1 January | 8,732,464 | 5,198,176 | |||
| Cash and cash equivalents at 31 December | 4,576,125 | 8,732,464 | |||
| Cash and cash equivalents comprise: | |||||
| Cash at bank | |||||
| Ananta Medicare Ltd | ||||||||||||
| Notes to the Accounts | ||||||||||||
| for the year ended 31 December 2024 | ||||||||||||
| 1 | Summary of significant accounting policies | |||||||||||
| Basis of preparation | ||||||||||||
| Going Concern | ||||||||||||
| After reviewing the company’s expectations and future trading conditions, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements. |
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| Turnover | ||||||||||||
| Intangible fixed assets | ||||||||||||
| Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. Amortisation is provided to write off the cost of the asset evenly over its expected useful life from the point of being brought into use. |
||||||||||||
| Tangible fixed assets | ||||||||||||
| Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: | ||||||||||||
| Fixtures, fittings, tools and equipment | 20% per annum reducing balance | |||||||||||
| Taxation | ||||||||||||
| Foreign currency translation | ||||||||||||
At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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| Pensions | ||||||||||||
| 2 | Analysis of turnover | 2024 | 2023 | |||||||||
| £ | £ | |||||||||||
| Sale of goods | ||||||||||||
| By geographical market: | ||||||||||||
| UK | - | |||||||||||
| Rest of world | ||||||||||||
| 3 | Operating profit | 2024 | 2023 | |||||||||
| £ | £ | |||||||||||
| This is stated after charging: | ||||||||||||
| Depreciation of owned fixed assets | ||||||||||||
| Amortisation of know-how | ||||||||||||
| Operating lease rentals - land and buildings | ||||||||||||
| Auditors' remuneration for audit services | ||||||||||||
| 4 | Staff costs | 2024 | 2023 | |||||||||
| £ | £ | |||||||||||
| Wages and salaries | ||||||||||||
| Directors Emoluments | - | - | ||||||||||
| Social security costs | - | - | ||||||||||
| Other pension costs | ||||||||||||
| Average number of employees during the year | Number | Number | ||||||||||
| Administration | ||||||||||||
| 5 | Interest payable | 2024 | 2023 | |||||||||
| £ | £ | |||||||||||
| Trade creditors | ||||||||||||
| 6 | Taxation | 2024 | 2023 | |||||||||
| £ | £ | |||||||||||
| Analysis of charge in period | ||||||||||||
| Current tax: | ||||||||||||
| UK corporation tax on profits of the period | - | |||||||||||
| Overseas tax charges | ||||||||||||
| Deferred tax: | ||||||||||||
| Origination and reversal of timing differences | ( |
|||||||||||
| Tax on profit on ordinary activities | ||||||||||||
| Factors affecting tax charge for period | ||||||||||||
| The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows: | ||||||||||||
| 2024 | 2023 | |||||||||||
| £ | £ | |||||||||||
| Profit on ordinary activities before tax | ||||||||||||
| £ | £ | |||||||||||
| Profit on ordinary activities multiplied by the standard rate (25%) of corporation tax for 2024 financial year | 12,515 | |||||||||||
| Profit on ordinary activities multiplied by the standard rate (19%) of corporation tax for 2023 financial year | - | |||||||||||
| Effects of: | ||||||||||||
| Expenses not deductible for tax purposes | ( |
|||||||||||
| Capital allowances for period in excess of depreciation | ( |
|||||||||||
| Trading losses utilised | (14,792) | |||||||||||
| Marginal Relief | (663) | |||||||||||
| Current tax charge for period | ||||||||||||
| 7 | Intangible fixed assets | £ | ||||||||||
| Know-how: | ||||||||||||
| Cost | ||||||||||||
| At 1 January 2024 | ||||||||||||
| At 31 December 2024 | ||||||||||||
| Amortisation | ||||||||||||
| At 1 January 2024 | ||||||||||||
| Provided during the year | ||||||||||||
| At 31 December 2024 | ||||||||||||
| Carrying amount | ||||||||||||
| At 31 December 2024 | ||||||||||||
| At 31 December 2023 | ||||||||||||
The amounts capitalised is for the contracted cost to acquire know-how. |
||||||||||||
| 8 | Tangible fixed assets | |||||||||||
| Fixtures, fittings, tools and equipment | ||||||||||||
| At cost | ||||||||||||
| £ | ||||||||||||
| Cost or valuation | ||||||||||||
| At 1 January 2024 | ||||||||||||
| Additions | ||||||||||||
| At 31 December 2024 | ||||||||||||
| Depreciation | ||||||||||||
| At 1 January 2024 | ||||||||||||
| Charge for the year | ||||||||||||
| At 31 December 2024 | ||||||||||||
| Carrying amount | ||||||||||||
| At 31 December 2024 | ||||||||||||
| At 31 December 2023 | ||||||||||||
| 9 | Debtors | 2024 | 2023 | |||||||||
| £ | £ | |||||||||||
| Trade debtors | ||||||||||||
| Prepayments and accrued income | - | |||||||||||
| 10 | Long Term Loan | 2024 | 2023 | |||||||||
| £ | £ | |||||||||||
| Long Term Loan | 2,073,495 | 2,146,267 | ||||||||||
| The company has made an unsecured loan to Alisha Estate Ltd which is owned by P Jain. The total loan facility agreed is for $5m and repayable by 31st December 2030. Interest rate chargeable on the loan is at 3% pa. As at 31st December 2024 £2,073,495 (2023: £2,146,266) was outstanding to the company. | ||||||||||||
| 11 | Creditors: amounts falling due within one year | 2024 | 2023 | |||||||||
| £ | £ | |||||||||||
| Trade creditors | ||||||||||||
| Corporation tax | ||||||||||||
| Other taxes and social security costs | ||||||||||||
| Other creditors | ||||||||||||
| Accruals and deferred income | ||||||||||||
| 12 | Deferred taxation | 2024 | 2023 | |||||||||
| £ | £ | |||||||||||
| Capital allowances - timing difference | ||||||||||||
| 2024 | 2023 | |||||||||||
| £ | £ | |||||||||||
| At 1 January | ( |
|||||||||||
| (Credited)/charged to the profit and loss account | ( |
|||||||||||
| At 31 December | ||||||||||||
| 13 | Share capital | Nominal | 2024 | 2024 | 2023 | |||||||
| value | Number | £ | £ | |||||||||
| Allotted, called up and fully paid: | ||||||||||||
| £ |
||||||||||||
| 14 | Profit and loss account | 2024 | 2023 | |||||||||
| £ | £ | |||||||||||
| At 1 January | ||||||||||||
| Profit for the financial year | ||||||||||||
| Dividends | ( |
( |
||||||||||
| At 31 December | ||||||||||||
| 15 | Dividends | 2024 | 2023 | |||||||||
| £ | £ | |||||||||||
| Dividends on ordinary shares (note 14) | ||||||||||||
| 16 | Continued events after the reporting date | |||||||||||
| The ongoing Russian invasion of Ukraine, which continues beyond the reporting date, continues to significantly influence the business. Given that the company's predominant customer base resides in Ukraine, this has introduced a degree of uncertainty concerning the company's continued viability. Consequently, the Directors are currently exploring strategic moves into alternative geographic markets, notably the United States, as a proactive measure to mitigate the emerging risks. It is important to note that the financial ramifications of this event cannot be reasonably quantified at this juncture. Despite these challenges, the company remains operational and committed to sustaining its operations, albeit at a reduced capacity. To adapt to the evolving situation, we have made necessary logistical adjustments pertaining to the transportation of goods. |
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| 17 | Other financial commitments | |||||||||||
| Total future minimum lease payments under non-cancellable operating leases: | ||||||||||||
| Land and buildings | Land and buildings | Other | Other | |||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||
| £ | £ | £ | £ | |||||||||
| Falling due: | ||||||||||||
| within one year | - | - | ||||||||||
| within two to five years | - | - | - | |||||||||
| - | - | |||||||||||
| 18 | Related party transactions | |||||||||||
| Mr P Jain owns 100% of the interest in the following 2 companies. | ||||||||||||
| 1. Alisha Estates Ltd - (Ukraine) - The company made an unsecured loan arrangement of $5million and as at 31st December 2024 the amount lent was £2,073,495 (2023 - £2,146,266) owed to the company as a long-term debtor. | ||||||||||||
| 2. Vita Sun Ltd - (UK) - Company owned by P Jain - payments were made to the company during the year to the value of $9,985.20 (2023: $10,000) and the balance outstanding as at 31st December 2024 was £23,692.86 (2023: £31,896) owed by the company to the related party. | ||||||||||||
| Other related party transactions not with companies: | ||||||||||||
| 19 | Controlling party | |||||||||||
| Mr P Jain is the controlling party owning 100% of the shares in the business | ||||||||||||
| 20 | Presentation currency | |||||||||||
| 21 | Legal form of entity and country of incorporation | |||||||||||
| Ananta Medicare Ltd is a private company limited by shares and incorporated in England. | ||||||||||||
| 22 | Principal place of business | |||||||||||
| The address of the company's principal place of business and registered office is: | ||||||||||||
| Suite 1 | ||||||||||||
| 2 Station Court | ||||||||||||
| Townmead Road | ||||||||||||
| Fulham | ||||||||||||
| London SW6 2PY | ||||||||||||