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# AEROGEN LIFESCIENCES UK LIMITED

## Company Registration Number:
09572259 (England and Wales)

## Unaudited statutory accounts for the year ended 31 December 2024

## Period of accounts

## Start date: 1 January 2024

## End date: 31 December 2024

# AEROGEN LIFESCIENCES UK LIMITED

## Contents of the Financial Statements

for the Period Ended 31 December 2024

Directors report |
Profit and loss |
Balance sheet |
Additional notes |
Balance sheet notes |

# AEROGEN LIFESCIENCES UK LIMITED

Directors' report period ended 31 December 2024

The directors present their report with the financial statements of the company for the period ended 31 December 2024

Principal activities of the company

The principal activity of the Company is the sale of a range of unique aerosol technology product in the UK market. All product is sourced from the Company's parent based in Ireland. 2024 has seen further investment by the Company which led to an increase in turnover on the prior year. The directors expect to see continued turnover increases into the future

Political and charitable donations

The Company has made no political donations nor incurred any political expenditure during the year.

Additional information

Results for the year The results for the year are set out in the profit and loss account and other comprehensive income on page 9 and in the related notes. The assets, liabilities and financial position of the Company are set out in the balance sheet on page 10. Dividends The directors do not recommend the payment of a dividend 2023 STG Nil. Directors The directors who held office during the year and, in the subsequent period to date, were as follows: James Ward-Lilley John Power In accordance with the Articles of Association, the directors will continue in office. Post balance sheet events There have been no significant events affecting the Company since the end of the financial year. Disclosure of information to auditor The directors who held office at the date of approval of this directors' report confirm that, so far as they are each aware, there is no relevant audit information of which the Company's auditor is unaware; and each director has taken all the steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Directors

The directors shown below have held office during the whole of the period from
1 January 2024 to 31 December 2024

John Power
James Ward-Lilley

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
21 August 2025

And signed on behalf of the board by:
Name: John Power
Status: Director

# AEROGEN LIFESCIENCES UK LIMITED

## Profit And Loss Account

for the Period Ended 31 December 2024

| 2024 | 2023
--- | --- | ---
| £ | £
Turnover: | 3,915,481 | 2,977,509
Cost of sales: | ( 2,627,475 ) | ( 1,887,683 )
Gross profit(or loss): | 1,288,006 | 1,089,826
Distribution costs: | ( 1,166,565 ) | ( 959,023 )
Administrative expenses: | ( 47,195 ) | ( 63,984 )
Other operating income: | 70,302 | 0
Operating profit(or loss): | 144,548 | 66,819
Interest receivable and similar income: | 28,829 | 0
Interest payable and similar charges: | ( 4,225 ) | ( 11,230 )
Profit(or loss) before tax: | 169,152 | 55,589
Tax: | ( 45,413 ) | ( 19,931 )
Profit(or loss) for the financial year: | 123,739 | 35,658

# AEROGEN LIFESCIENCES UK LIMITED

## Balance sheet

As at 31 December 2024

| Notes | 2024 | 2023
--- | --- | --- | ---
|  | £ | £
Fixed assets
Intangible assets: |  | 0 | 0
Tangible assets: | 3 | 106,264 | 41,732
Investments: |  | 0 | 0
Total fixed assets: |  | 106,264 | 41,732
Current assets
Stocks: | 4 | 471,387 | 358,654
Debtors: | 5 | 769,201 | 539,183
Cash at bank and in hand: |  | 2,000,104 | 1,197,651
Investments: |  | 0 | 0
Total current assets: |  | 3,240,692 | 2,095,488
Prepayments and accrued income: |  | 60,224 | 59,121
Creditors: amounts falling due within one year: | 6 | ( 1,955,169 ) | ( 905,434 )
Net current assets (liabilities): |  | 1,345,747 | 1,249,175
Total assets less current liabilities: |  | 1,452,011 | 1,290,907
Creditors: amounts falling due after more than one year: | 7 | ( 64,742 ) | ( 27,377 )
Provision for liabilities: |  | 0 | 0
Accruals and deferred income: |  | 0 | 0
Total net assets (liabilities): |  | 1,387,269 | 1,263,530
Capital and reserves
Called up share capital: |  | 1 | 1
Share premium account: |  | 0 | 0
Other reserves: |  | 0 | 0
Profit and loss account: |  | 1,387,268 | 1,263,529
Total Shareholders' funds: |  | 1,387,269 | 1,263,530

The notes form part of these financial statements

# AEROGEN LIFESCIENCES UK LIMITED

## Balance sheet statements

For the year ending 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 21 August 2025
and signed on behalf of the board by:

Name: John Power
Status: Director

The notes form part of these financial statements

# AEROGEN LIFESCIENCES UK LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

- ## 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

  Turnover policy

  Turnover Turnover represents the fair value of goods, excluding value added tax, delivered to third party customers in the accounting period. Goods are deemed to have been delivered to customers, when the customer has access to the significant benefits inherent in the goods and exposure to the risks inherent in those benefits.

  Valuation information and policy

  Financial instruments 1 Recognition and initial measurement Trade receivables and debt securities issued are initially recognised when they are originated. All other financial assets and financial liabilities are initially recognised when the Company becomes a party to the contractual provisions of the instrument. A financial asset (unless it is a trade receivable without a significant financing component) or financial liability is initially measured at fair value plus, for an item not at fair value through profit or loss (FVTPL), transaction costs that are directly attributable to its acquisition or issue. A trade receivable without a significant financing component is initially measured at the transaction price. (2) Classification and subsequent measurement Financial assets (a) Classification On initial recognition, a financial asset is classified as measured at amortised cost FVOCI - debt investment; FVOCI equity investment; or FVTPL. Financial assets are not reclassified subsequent to their initial recognition unless the Company changes its business model for managing financial assets in which case all affected financial assets are reclassified on the first day of the first reporting period following the change in the business model. A financial asset is measured at amortised cost if it meets both of the following conditions and is not designated as at FVTPL: it is held within a business model whose objective is to hold assets to collect contractual cash flows; and its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. b Subsequent measurement and gains and losses Financial assets at amortised cost These assets are subsequently measured at amortised cost using the effective interest method. The amortised cost is reduced by impairment losses. Interest income, foreign exchange gains and losses and impairment are recognised in profit or loss. Any gain or loss on derecognition is recognised in profit or loss.

  Other accounting policies

  Stocks Stocks are stated at the lower of cost and net realisable value. Cost includes expenditure incurred in acquiring the stocks and other costs incurred in bringing them to their existing location and condition. Employee benefits Short-term benefits Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the related service is provided. A liability is recognised for the amount expected to be paid under short-term cash bonus or profit-sharing plans if the Company has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee and the obligation can be estimated reliably. Defined contribution pension plans A defined contribution plan is a post-employment benefit plan under which the Company pays fixed contributions into a separate entity and will have no legal or constructive obligation to pay further amounts. Obligations for contributions to defined contribution pension plans are recognised as an expense in the profit and loss account in the periods during which services are rendered by employees. Interest receivable and interest payable Interest receivable and similar income comprises foreign exchange gains that are recognised in the profit and loss account, reported on a net basis. Interest payable and similar expenses includes interest payable on liabilities and interest expense on lease liabilities recognised in profit or loss using the effective interest method and net foreign exchange losses. Interest payable is recognised in profit or loss as it accrues, using the effective interest method.

# AEROGEN LIFESCIENCES UK LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

- ## 2. Employees

  | 2024 | 2023
  --- | --- | ---
  Average number of employees during the period | 17 | 13

# AEROGEN LIFESCIENCES UK LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 3. Tangible assets

| Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total
--- | --- | --- | --- | --- | --- | ---
Cost | £ | £ | £ | £ | £ | £
At 1 January 2024 | 0 | 0 | 0 | 0 | 46,948 | 46,948
Additions | 0 | 0 | 0 | 0 | 87,334 | 87,334
Disposals | 0 | 0 | 0 | 0 | 0 | 0
Revaluations | 0 | 0 | 0 | 0 | 0 | 0
Transfers | 0 | 0 | 0 | 0 | 0 | 0
At 31 December 2024 | 0 | 0 | 0 | 0 | 134,282 | 134,282
Depreciation |  |  |  |  |  |
At 1 January 2024 | 0 | 0 | 0 | 0 | 5,216 | 5,216
Charge for year | 0 | 0 | 0 | 0 | 22,802 | 22,802
On disposals | 0 | 0 | 0 | 0 | 0 | 0
Other adjustments | 0 | 0 | 0 | 0 | 0 | 0
At 31 December 2024 | 0 | 0 | 0 | 0 | 28,018 | 28,018
Net book value |  |  |  |  |  |
At 31 December 2024 | 0 | 0 | 0 | 0 | 106,264 | 106,264
At 31 December 2023 | 0 | 0 | 0 | 0 | 41,732 | 41,732

# AEROGEN LIFESCIENCES UK LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 4. Stocks

| 2024 | 2023
--- | --- | ---
| £ | £
Stocks | 471,387 | 358,654
Payments on account | 0 | 0
Total | 471,387 | 358,654

# AEROGEN LIFESCIENCES UK LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 5. Debtors

| 2024 | 2023
--- | --- | ---
| £ | £
Trade debtors | 769,201 | 539,183
Other debtors | 0 |
Total | 769,201 | 539,183
Debtors due after more than one year: | 0 | 0

# AEROGEN LIFESCIENCES UK LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 6. Creditors: amounts falling due within one year note

| 2024 | 2023
--- | --- | ---
| £ | £
Bank loans and overdrafts | 0 | 0
Amounts due under finance leases and hire purchase contracts | 43,506 | 14,860
Trade creditors | 17,301 | 30,627
Taxation and social security | 24,567 | 0
Accruals and deferred income | 296,049 | 249,452
Other creditors | 1,573,746 | 610,495
Total | 1,955,169 | 905,434

# AEROGEN LIFESCIENCES UK LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 7. Creditors: amounts falling due after more than one year note

| 2024 | 2023
--- | --- | ---
| £ | £
Amounts due under finance leases and hire purchase contracts | 64,742 | 27,377
Total | 64,742 | 27,377