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REGISTERED NUMBER: 03484946 (England and Wales)

| AUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 DECEMBER 2024 |

| FOR |

| MEDEX SCIENTIFIC (U.K.) LIMITED |

MEDEX SCIENTIFIC (U.K.) LIMITED (REGISTERED NUMBER: 03484946)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 3 |

MEDEX SCIENTIFIC (U.K.) LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2024

| DIRECTORS: | Mrs A K Bradley

| R S Lucas

| SECRETARY: | Mrs A K Bradley

| REGISTERED OFFICE: | The Old Grain Store

| 4 Denne Road

| Horsham

| West Sussex

| RH12 1JE

| REGISTERED NUMBER: | 03484946 (England and Wales)

| AUDITORS: | Hartley Fowler LLP

| Statutory Auditors

| Chartered Accountants

| Pavilion View

| 19 New Road

| Brighton

| East Sussex

| BN1 1EY

| BANKERS: | Barclays Bank PLC

| 7th Floor

| United Kingdom House

| 180 Oxford Street

| London

| W1D 1EA

MEDEX SCIENTIFIC (U.K.) LIMITED (REGISTERED NUMBER: 03484946)

BALANCE SHEET

31 DECEMBER 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 4,478 |  | 19,166 |  |

CURRENT ASSETS

Stocks | 268,008 |  | 312,101 |  |

Debtors | 5 | 29,293 |  | 59,588 |  |

Cash at bank | 17,505 |  | 93,972 |  |

314,806 |  | 465,661 |  |

CREDITORS

Amounts falling due within one year | 6 | 274,766 |  | 2,353,324 |  |

NET CURRENT ASSETS/(LIABILITIES) | 40,040 |  | (1,887,663 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 44,518 |  | (1,868,497 | ) |

CAPITAL AND RESERVES

Called up share capital | 7 | 10,000 |  | 10,000 |  |

Retained earnings | 34,518 |  | (1,878,497 | ) |

SHAREHOLDERS' FUNDS | 44,518 |  | (1,868,497 | ) |

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 Board of Directors and authorised for issue on 15 September 2025 and were signed on its behalf by:

Mrs A K Bradley - Director

MEDEX SCIENTIFIC (U.K.) LIMITED (REGISTERED NUMBER: 03484946)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1. | STATUTORY INFORMATION

| Medex Scientific (U.K.) Limited is a private company, limited by shares, incorporated 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.

| The financial statements have been prepared on a going concern basis on the assessment of the directors. The ultimate controlling party has indicated his intention to continue to support the trading activities of the company for the foreseeable future.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Turnover

| Revenue is measured at fair value of the consideration received or receivable for the sale of medical goods and related products. Revenue is recognised when goods are delivered and legal title has passed. Revenue is reduced for estimated customer returns, rebates and other similar allowances.

| The company invoices other group companies and companies under common control for management services carried out during the year. Management fees are recognised, net of value added tax, during the period that the services were carried out.

| Tangible fixed assets

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

| Improvements to property |  | 10% on cost |  |

| Office Equipment |  | 20% on cost |  |

| Computer Equipment |  | 33% on cost |  |

| Laboratory Equipment |  | 20% on cost |  |

| Fixtures and fittings |  | 33% on cost |  |

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| 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.

MEDEX SCIENTIFIC (U.K.) LIMITED (REGISTERED NUMBER: 03484946)

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.

| 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.

| Debtors and creditors receivable / payable within one year

| Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

| Impairment

| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. | EMPLOYEES

| The average number of employees during the year was 4 (2023 - 4 ) .

4. | TANGIBLE FIXED ASSETS

| Improvements |  | Equipment, |

| to |  | fixtures |

| property |  | & fittings |  | Totals

£ | £ | £ |

| COST

| At 1 January 2024 | 199,351 |  | 468,852 |  | 668,203 |  |

| Disposals | (199,351 | ) | (26,245 | ) | (225,596 | ) |

| At 31 December 2024 | - |  | 442,607 |  | 442,607 |  |

| DEPRECIATION

| At 1 January 2024 | 188,905 |  | 460,132 |  | 649,037 |  |

| Charge for year | 1,028 |  | 2,987 |  | 4,015 |  |

| Eliminated on disposal | (189,933 | ) | (24,990 | ) | (214,923 | ) |

| At 31 December 2024 | - |  | 438,129 |  | 438,129 |  |

| NET BOOK VALUE

| At 31 December 2024 | - |  | 4,478 |  | 4,478 |  |

| At 31 December 2023 | 10,446 |  | 8,720 |  | 19,166 |  |

MEDEX SCIENTIFIC (U.K.) LIMITED (REGISTERED NUMBER: 03484946)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

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

2024 | 2023 |

£ | £ |

| Trade debtors | 26,070 |  | 59,234 |  |

| Other debtors | 3,223 |  | 354 |  |

29,293 |  | 59,588 |  |

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

2024 | 2023 |

£ | £ |

| Trade creditors | 23,450 |  | 21,470 |  |

| Amounts owed to group undertakings | 13,038 |  | 9,271 |  |

| Taxation and social security | 6,130 |  | 6,732 |  |

| Other creditors | 232,148 |  | 2,315,851 |  |

274,766 |  | 2,353,324 |  |

7. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2024 | 2023 |

| value: | £ | £ |

| 10,000 | Ordinary | £1 | 10,000 |  | 10,000 |  |

8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Guy Rolliston (Senior Statutory Auditor)

| for and on behalf of Hartley Fowler LLP

9. | PARENT COMPANY

| The immediate parent undertaking is Comet Scientific Limited. The smallest group in which in which consolidated financial statements are drawn up is headed by Comet Scientific Limited. The consolidated financial statements may be obtained from the company's registered office, being The Old Grain Store, 4 Denne Road, Horsham, West Sussex, RH12 1JE.