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Registered number: 03609233 NEEM BIOTECH LTD UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2024
NEEM BIOTECH LTD REGISTERED NUMBER: 03609233 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | - |  | 26,255
|  |  | - |  | 26,255
Current assets |  |  |  |  |
Stocks | 5 | - |  | 119 |
Debtors: amounts falling due after more than one year | 6 | - |  | 429,714 |
Debtors: amounts falling due within one year | 6 | 65,983 |  | 2,539,305 |
Cash at bank and in hand |  | 679 |  | 13,613 |
|  | 66,662 |  | 2,982,751 |
Creditors: amounts falling due within one year | 7 | (759,773) |  | (99,679) |
Net current (liabilities)/assets |  |  | (693,111) |  | 2,883,072
Total assets less current liabilities |  |  | (693,111) |  | 2,909,327
Creditors: amounts falling due after more than one year | 8 |  | (27,611) |  | (1,144,531)
Net (liabilities)/assets |  |  | (720,722) |  | 1,764,796
Capital and reserves |  |  |  |  |
Called up share capital | 10 |  | 6,000,000 |  | 6,000,000
Profit and loss account |  |  | (6,720,722) |  | (4,235,204)
|  |  | (720,722) |  | 1,764,796
Page 1
NEEM BIOTECH LTD REGISTERED NUMBER: 03609233 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 DECEMBER 2024 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 September 2025.
T C Hafner
Director
The notes on pages 3 to 12 form part of these financial statements. Page 2
NEEM BIOTECH LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1.Accounting policies
| 1.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about it's group. The following principal accounting policies have been applied:
| 1.2 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Page 3
NEEM BIOTECH LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1.Accounting policies (continued)
| 1.3 | Intangible assets - Development costs
Research costs are expensed as incurred. Deferred development costs arising from development expenditures on an individual project are recognised as an intangible asset when the Company can demonstrate the technical feasibility of completing the intangible asset so that it will be available for use or sale, its intention to complete and its ability to use or sell the asset, how the asset will generate future economic benefits, the availability of resources to complete and the ability to measure reliably the expenditures during the development. Following initial recognition of the deferred development costs as an intangible asset, it is carried at cost less accumulated amortisation and any accumulated impairment losses. Amortisation of the intangible asset begins when development is completed and the asset is available for use. Deferred development costs have a finite useful life and are amortised over the period of expected sales from the related project on a straight line basis.
| 1.4 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Improvements to S/Term Leasehold Property | - | 10% | straight line
|  |  |  | Plant and machinery pre June 2015 | - | 25% | straight line
|  |  |  | Plant and machinery post June 2015 | - | 15% | straight line
|  |  |  | Fixtures and fittings pre June 2015 | - | 25% | straight line
|  |  |  | Fixtures & fitting post June 2015 | - | 20% | straight line
|  |  |  | Office equipment | - | 25% | straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. Page 4
NEEM BIOTECH LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1.Accounting policies (continued)
| 1.5 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 1.6 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 1.7 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 1.8 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 1.9 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 5
NEEM BIOTECH LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1.Accounting policies (continued)
| 1.10 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
| 1.11 | Government grants
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.
| 1.12 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. Page 6
NEEM BIOTECH LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1.Accounting policies (continued)
| 1.13 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
| 1.14 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 1.15 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 1.16 | Research and development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years. If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
2. | General information
Neem Biotech Ltd is a private company, limited by shares and registered in Wales. Its registered number is 03609233. Its Registered office is : Units G-H Roseheyworth Business Park Abertillery Blaenau Gwent NP13 1SX
3. | Employees
| The average monthly number of employees, including directors, during the year was 2 (2023 - 3).
Page 7
NEEM BIOTECH LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
4. | Tangible fixed assets
|  | Other fixed assets
|  | £
| At 1 January 2024 | 368,847
| Disposals | (368,847)
| At 31 December 2024 | -
| At 1 January 2024 | 342,592
| Disposals | (342,592)
| At 31 December 2024 | -
| Net book value |
| At 31 December 2024 | -
| At 31 December 2023 | 26,255
Page 8
NEEM BIOTECH LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
5. | Stocks
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Finished goods and goods for resale | - | 119
|  | - | 119
6. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Due after more than one year |  |
| Due from connected companies | - | 429,714
|  | - | 429,714
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Due within one year |  |
| Trade debtors | - | 30,000
| Amounts owed by connected companies | 65,983 | 2,501,626
| Other debtors | - | 814
| Prepayments and accrued income | - | 6,865
|  | 65,983 | 2,539,305
Page 9
NEEM BIOTECH LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | 5,883 | 5,882
| Trade creditors | - | 41,624
| Amounts owed to connected companies | 413,784 | -
| Amounts owed to joint ventures | 16,000 | -
| Other taxation and social security | 220 | 3,543
| Other creditors | 320,384 | 3,241
| Accruals and deferred income | 3,502 | 45,389
|  | 759,773 | 99,679
| The Company received a Bounce Back Loan from HSBC in 2020. The loan has a term of 10 years. The interest rate on the loan is 2.5%.
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | 27,611 | 33,315
| Amounts owed to connected companies | - | 376,533
| Other creditors | - | 732,183
| Accruals and deferred income | - | 2,500
|  | 27,611 | 1,144,531
| The Company received a Bounce Back Loan from HSBC in 2020. The loan has a term of 10 years. The interest rate on the loan is 2.5%.
Page 10
NEEM BIOTECH LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
9. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 5,883 | 5,882
|  | 5,883 | 5,882
| Amounts falling due 1-2 years |  |
| Bank loans | 5,882 | 5,882
|  | 5,882 | 5,882
| Amounts falling due 2-5 years |  |
| Bank loans | 17,647 | 17,647
|  | 17,647 | 17,647
| Amounts falling due after more than 5 years |  |
| Bank loans | 4,081 | 9,786
|  | 4,081 | 9,786
|  | 33,493 | 39,197
Page 11
NEEM BIOTECH LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
10. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 6,000,000 (2023 - 6,000,000) Ordinary shares of £1.00 each | 6,000,000 | 6,000,000
11. | Pension commitments
The Company operates a defined contributions 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 £2,060 (2023 - £6,651) Contributions totalling £Nil (2023 - £627) were payable to the fund at the reporting date.
12. | Controlling party
The immediate parent company at the year end was Zaluvida Ventures Limited, their registered office is Invision House, Wilbury Way, Hitchin, Hertfordshire, SG4 0TY. The ultimate parent company at the year end was Lemontree Holdings AG, a company registered in Liechtenstein, their registered office is c/o Concordanz Anstalt, Austrasse 42, 9490 Vaduz, Liechtenstein. The ultimate parent undertaking at the year end was CTL Familienstiftung, a Trust registered in Liechtenstein, their registered office is Feldkircher Strasse 15, 9494 Schaan, Liechtenstein. The ultimate beneficial owner is Dr H Schwärzler.
Page 12