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REGISTERED NUMBER: 06485910 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Pharmalys Limited

Pharmalys Limited (Registered number: 06485910)

Contents of the Financial Statements

for the Year Ended 31 December 2024

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Pharmalys Limited

Company Information

for the Year Ended 31 December 2024

| DIRECTOR: | Ms M S Ba

| REGISTERED OFFICE: | Devonshire House

| One Mayfair Place

| London

| W1J 8AJ

| REGISTERED NUMBER: | 06485910 (England and Wales)

Pharmalys Limited (Registered number: 06485910)

Balance Sheet

31 December 2024

| 31.12.24 | 31.12.23 |

| as restated |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 18,047 |  | 19,203 |  |

CURRENT ASSETS

Debtors | 5 | 210,906 |  | 426,048 |  |

Cash at bank | 256 |  | 144,775 |  |

211,162 |  | 570,823 |  |

CREDITORS

Amounts falling due within one year | 6 | 737,123 |  | 576,453 |  |

NET CURRENT LIABILITIES | (525,961 | ) | (5,630 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (507,914 | ) | 13,573 |  |

CREDITORS

Amounts falling due after more than one year | 7 | (4,166 | ) | (14,167 | ) |

PROVISIONS FOR LIABILITIES | 9 | (1,849 | ) | (4,365 | ) |

NET LIABILITIES | (513,929 | ) | (4,959 | ) |

CAPITAL AND RESERVES

Called up share capital | 10 | 1 |  | 1 |  |

Retained earnings | (513,930 | ) | (4,960 | ) |

SHAREHOLDERS' FUNDS | (513,929 | ) | (4,959 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Pharmalys Limited (Registered number: 06485910)

Balance Sheet - continued

31 December 2024

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 September 2025 and were signed by:

Ms M S Ba - Director

Pharmalys Limited (Registered number: 06485910)

Notes to the Financial Statements

for the Year Ended 31 December 2024

1. | STATUTORY INFORMATION

| Pharmalys Limited 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

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.

| Going Concern

| The financial statements have been prepared on the going concern basis which assumes that the company will continue in operation for the foreseeable future. The director, who is the major creditors, have confirmed that she will continue to make sure funds as are needed by the company and in particular will not seek repayment from the amounts currently made available that would otherwise place the company in insolvency.

| Based on this undertaking the director believes that the company will have sufficient resources to enable it to continue normal trading operation for a period of at least twelve months from the date of approval of these financial statements, and therefore it is appropriate to prepare the financial statements on a going concern basis.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Fixtures and fittings | - | 25% on cost

| Computer equipment | - | 25% on cost

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pharmalys Limited (Registered number: 06485910)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

2. | ACCOUNTING POLICIES - continued

| 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.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 19 (2023 - 16 ) .

4. | TANGIBLE FIXED ASSETS

| Fixtures |

| and |  | Computer |

| fittings |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 January 2024 | 6,537 |  | 77,179 |  | 83,716 |  |

| Additions | - |  | 7,127 |  | 7,127 |  |

| At 31 December 2024 | 6,537 |  | 84,306 |  | 90,843 |  |

| DEPRECIATION

| At 1 January 2024 | 6,346 |  | 58,167 |  | 64,513 |  |

| Charge for year | 191 |  | 8,092 |  | 8,283 |  |

| At 31 December 2024 | 6,537 |  | 66,259 |  | 72,796 |  |

| NET BOOK VALUE

| At 31 December 2024 | - |  | 18,047 |  | 18,047 |  |

| At 31 December 2023 | 191 |  | 19,012 |  | 19,203 |  |

Pharmalys Limited (Registered number: 06485910)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.24 |  | 31.12.23

| as restated |

£ | £ |

| Trade debtors | 96,040 |  | 270,430 |  |

| Other debtors | 114,866 |  | 155,618 |  |

210,906 |  | 426,048 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.24 |  | 31.12.23

| as restated |

£ | £ |

| Bank loans and overdrafts | 18,123 |  | 10,000 |  |

| Trade creditors | 20,861 |  | 28,497 |  |

| Taxation and social security | 235,529 |  | 199,133 |  |

| Other creditors | 462,610 |  | 338,823 |  |

737,123 |  | 576,453 |  |

7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.12.24 |  | 31.12.23

| as restated |

£ | £ |

| Bank loans | 4,166 |  | 14,167 |  |

8. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.12.24 |  | 31.12.23

| as restated |

£ | £ |

| Bank overdraft | 8,123 |  | - |  |

| Bank loans | 14,166 |  | 24,167 |  |

22,289 |  | 24,167 |  |

| The aggregate amount of creditors for which security has been given amounted to £14,166 (2023 - £24,167) and is supported by a guarantee from the UK Government to the bank under the Bounce Back Loan Scheme.

9. | PROVISIONS FOR LIABILITIES

| 31.12.24 |  | 31.12.23

| as restated |

£ | £ |

| Deferred tax

| Accelerated capital allowances | 1,849 |  | 4,365 |  |

Pharmalys Limited (Registered number: 06485910)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

9. | PROVISIONS FOR LIABILITIES - continued

| Deferred |

| tax |

£ |

| Balance at 1 January 2024 | 4,365 |  |

| Accelerated capital allowances | (2,516 | ) |

| Balance at 31 December 2024 | 1,849 |  |

10. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.12.24 |  | 31.12.23

| value: |  | as restated |

£ | £ |

| 1 | Ordinary | £1 | 1 |  | 1 |  |

11. | PENSION COMMITMENTS

| The company operates a defined contribution 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 £12,007 (2023 - £11,553). Contributions totalling £1,884 (2023 - £4,410) were payable to the fund at the balance sheet date.

12. | RELATED PARTY DISCLOSURES

| At the balance sheet date, the balance due to the director was £123,925 (2023 - £168,657).