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Registered number: 13977261
Galvany Pharma Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
A K E Tax & Accountancy Ltd
Chartered Certified Accountants
Hoddesdon Enterprise Centre
Pindar Road
Hoddesdon
Hertfordshire
EN11 0FJ
Galvany Pharma Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—5

Page 1
Galvany Pharma Limited
Balance Sheet
As At 31 December 2024
Balance Sheet
Registered number: 13977261

| 2024 | 2023
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 379 |  | 505
Investments | 5 |  | 200 |  | 200
|  |  | 579 |  | 705
CURRENT ASSETS
Stocks | 6 | 152,432 |  | 62,946 |
Debtors | 7 | 1,852,653 |  | 1,245,866 |
Cash at bank and in hand |  | 390,349 |  | 678,431 |
|  | 2,395,434 |  | 1,987,243 |
Creditors: Amounts Falling Due Within One Year | 8 | (671,743 ) |  | (108,790 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 1,723,691 |  | 1,878,453
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 1,724,270 |  | 1,879,158
PROVISIONS FOR LIABILITIES
Deferred Taxation |  |  | (95 ) |  | (124 )
NET ASSETS |  |  | 1,724,175 |  | 1,879,034
CAPITAL AND RESERVES
Called up share capital | 9 |  | 1,630,580 |  | 2,000,100
Share premium account |  |  | 251,625 |  | -
Profit and Loss Account |  |  | (158,030 ) |  | (121,066 )
SHAREHOLDERS' FUNDS |  |  | 1,724,175 |  | 1,879,034

Page 1
Page 2
Galvany Pharma Limited
Balance Sheet (continued)
As At 31 December 2024
For the year ending 31 December 2024 the company was entitled to exemption from audit 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board

C R Mitchell Director
15 September 2025

The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Galvany Pharma Limited
Notes to the Financial Statements
For The Year Ended 31 December 2024
Notes to the Financial Statements
1. General Information
Galvany Pharma Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13977261 . The registered office is Business & Technology Centre, Bessemer Drive, Stevenage, Hertfordshire, SG1 2DX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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 and licence rights.
Sale of goods and licence rights
Turnover from the sale of licence rights relates to rights granted on sales of product and is based on contract date. Turnover from the sale of goods is recognised when the risks and rewards of ownership pass to the customer.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer Equipment | 25% reducing balance

2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
Galvany Pharma Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
2.7. Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2.8. Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.9. Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets

| Computer Equipment
--- | ---
| £
Cost
As at 1 January 2024 | 735
As at 31 December 2024 | 735
Depreciation
As at 1 January 2024 | 230
Provided during the period | 126
As at 31 December 2024 | 356
Net Book Value
As at 31 December 2024 | 379
As at 1 January 2024 | 505

5. Investments

| Unlisted
--- | ---
| £
Cost
As at 1 January 2024 | 200
As at 31 December 2024 | 200
Provision
As at 1 January 2024 | -
As at 31 December 2024 | -
Net Book Value
As at 31 December 2024 | 200
As at 1 January 2024 | 200

Investments comprise of 100% of the issued share capital in Galvany Developments Limited.
Page 4
Page 5
Galvany Pharma Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
6. Stocks

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Stock | 152,432 |  | 62,946

7. Debtors

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 378,645 |  | 161,473
Other debtors | 313,669 |  | 122,096
| 692,314 |  | 283,569
Due after more than one year
Amounts owed by group undertakings | 1,160,339 |  | 962,297
| 1,852,653 |  | 1,245,866

8. Creditors: Amounts Falling Due Within One Year

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Trade creditors | 77,657 |  | 5,056
Other creditors | 526,736 |  | 103,734
Taxation and social security | 67,350 |  | -
| 671,743 |  | 108,790

9. Share Capital

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 1,630,580 |  | 2,000,100

10. Related Party Transactions
Related party transaction exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK", not to disclose related party transactions with wholly owned subsidiaries within the group.
11. Ultimate Controlling Party
The company's ultimate controlling parties are the shareholders by virtue of their equal ownership of the issued share capital in the company.
Page 5