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BLACKRIDGE PHARMA LTD

Registered Number
SC674799
(Scotland)

Unaudited Financial Statements for the Year ended
30 September 2024

BLACKRIDGE PHARMA LTD
Company Information
for the year from 1 October 2023 to 30 September 2024

Directors

Davide Perella
Jennifer Perella

Registered Address

Blackrock House
2-8 Millar Crescent
Edinburgh
EH10 5HW

Registered Number

SC674799 (Scotland)
BLACKRIDGE PHARMA LTD
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets32,805,7081,736,358
Tangible assets420,50053,887
Investments5-1,431,898
2,826,2083,222,143
Current assets
Stocks6105,070106,908
Debtors558,445437,010
Cash at bank and on hand154,287106,113
817,802650,031
Creditors amounts falling due within one year7(1,790,944)(1,551,714)
Net current assets (liabilities)(973,142)(901,683)
Total assets less current liabilities1,853,0662,320,460
Creditors amounts falling due after one year8(2,691,682)(2,907,682)
Net assets(838,616)(587,222)
Capital and reserves
Called up share capital101101
Profit and loss account(838,717)(587,323)
Shareholders' funds(838,616)(587,222)
The financial statements were approved and authorised for issue by the Board of Directors on 7 January 2025, and are signed on its behalf by:
Davide Perella
Director
Registered Company No. SC674799
BLACKRIDGE PHARMA LTD
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery4
Fixtures and fittings5
Vehicles4
Office Equipment3
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.
2.Average number of employees

20242023
Average number of employees during the year3129
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 October 232,247,5812,247,581
Transfers1,437,8981,437,898
At 30 September 243,685,4793,685,479
Amortisation and impairment
At 01 October 23511,223511,223
Charge for year368,548368,548
At 30 September 24879,771879,771
Net book value
At 30 September 242,805,7082,805,708
At 30 September 231,736,3581,736,358
4.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 October 236,04823,720112,030141,798
Additions--11,80711,807
Revaluations--7373
At 30 September 246,04823,720123,910153,678
Depreciation and impairment
At 01 October 234,31114,57869,02287,911
Charge for year1,2805,93037,98445,194
Revaluation surplus--7373
At 30 September 245,59120,508107,079133,178
Net book value
At 30 September 244573,21216,83120,500
At 30 September 231,7379,14243,00853,887
5.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 October 231,431,8981,431,898
Transfers(1,431,898)(1,431,898)
Net book value
At 30 September 24--
At 30 September 231,431,8981,431,898

Notes

1Investments in group undertakings and participating interests
6.Stocks

2024

2023

££
Other stocks105,070106,908
Total105,070106,908
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables533,454476,811
Bank borrowings and overdrafts108,0001,286
Amounts owed to related parties583,887531,678
Taxation and social security80,59995,037
Other creditors442,938409,330
Accrued liabilities and deferred income42,06637,572
Total1,790,9441,551,714
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts1,508,0001,724,000
Amounts owed to related parties1,183,6821,183,682
Total2,691,6822,907,682
9.Provisions for liabilities