NEILMED HOLDING COMPANY LIMITED

REPORT OF THE DIRECTORS AND

UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Report of the Directors

2

Consolidated Statement of Income and Retained Earnings

3

Consolidated Balance Sheet

4

Company Balance Sheet

6

Notes to the Consolidated Financial Statements

8

DIRECTORS:

Dr K Mehta

Ms. N Mehta

REGISTERED OFFICE:

221 Kenton Lane

Kenton

Harrow

Middlesex

HA3 8RP

REGISTERED NUMBER:

10246838 (England and Wales)

ACCOUNTANTS:

Akshar & Company

Chartered Accountants

221 Kenton Lane

Harrow

Middlesex

HA3 8RP

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

sale of pharmaceutical products and investments in subsidiaries.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

Dr K Mehta

Ms. N Mehta

DIRECTORS' RESPONSIBILITIES STATEMENT

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Dr K Mehta - Director

11 September 2025

TURNOVER

11,688,585

9,969,965

Cost of sales

4,865,596

3,797,917

GROSS PROFIT

6,822,989

6,172,048

Administrative expenses

6,504,018

6,465,257

OPERATING PROFIT/(LOSS)

4

318,971

(293,209

)

Interest receivable and similar income

22

660

PROFIT/(LOSS) BEFORE TAXATION

318,993

(292,549

)

Tax on profit/(loss)

5

89,738

291,798

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

229,255

(584,347

)

Retained earnings at beginning of year

3,629,969

4,214,316

RETAINED EARNINGS FOR THE GROUP AT END OF YEAR

3,859,224

3,629,969

Profit/(loss) attributable to:

Owners of the parent

229,255

(584,347

)

FIXED ASSETS

Tangible assets

7

277,577

362,328

CURRENT ASSETS

Stocks

2,520,477

1,967,827

Debtors

8

3,317,086

3,055,494

Cash at bank and in hand

1,288,792

1,967,282

7,126,355

6,990,603

CREDITORS

Amounts falling due within one year

10

3,467,749

3,560,840

NET CURRENT ASSETS

3,658,606

3,429,763

TOTAL ASSETS LESS CURRENT LIABILITIES

3,936,183

3,792,091

CREDITORS

Amounts falling due after more than one year

11

76,859

162,022

NET ASSETS

3,859,324

3,630,069

CAPITAL AND RESERVES

Called up share capital

12

100

100

Retained earnings

13

3,859,224

3,629,969

SHAREHOLDERS' FUNDS

3,859,324

3,630,069

The company and the group are 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 and the group 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 directors acknowledge their responsibilities for:

(a)	ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2025 and were signed on its behalf by:

Dr K Mehta - Director

Ms. N Mehta - Director

CURRENT ASSETS

Debtors

8

1,196,552

1,150,970

Investments

9

6,643

6,643

Cash at bank and in hand

3,164

17,542

1,206,359

1,175,155

CREDITORS

Amounts falling due within one year

10

10,575

(3,866

)

NET CURRENT ASSETS

1,195,784

1,179,021

TOTAL ASSETS LESS CURRENT LIABILITIES

1,195,784

1,179,021

CAPITAL AND RESERVES

Called up share capital

12

100

100

Retained earnings

13

1,195,684

1,178,921

SHAREHOLDERS' FUNDS

1,195,784

1,179,021

Company's profit/(loss) for the financial year

16,763

(44,803

)

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 directors acknowledge their 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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2025 and were signed on its behalf by:

Dr K Mehta - Director

Ms. N Mehta - Director

1.	STATUTORY INFORMATION

Neilmed Holding Company 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 General Information page.

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.

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.

Plant and machinery etc

-

25% on reducing balance

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 Consolidated 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.

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 group operates a defined contribution pension scheme. Contributions payable to the group'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 27 (2023 - 21 ) .

4.	OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) is stated after charging:

2024

2023

£

£

Depreciation - owned assets

184,057

130,188

5.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2024

2023

£

£

Current tax:

UK corporation tax

89,738

291,798

Tax on profit/(loss)

89,738

291,798

6.	INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

7.	TANGIBLE FIXED ASSETS

Group

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 January 2024

423,349

46,063

5,082

Additions

99,306

-

-

At 31 December 2024

522,655

46,063

5,082

DEPRECIATION

At 1 January 2024

117,143

23,952

1,821

Charge for year

174,573

1,231

277

At 31 December 2024

291,716

25,183

2,098

NET BOOK VALUE

At 31 December 2024

230,939

20,880

2,984

At 31 December 2023

306,206

22,111

3,261

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

54,290

1,350

530,134

Additions

-

-

99,306

At 31 December 2024

54,290

1,350

629,440

DEPRECIATION

At 1 January 2024

23,540

1,350

167,806

Charge for year

7,976

-

184,057

At 31 December 2024

31,516

1,350

351,863

NET BOOK VALUE

At 31 December 2024

22,774

-

277,577

At 31 December 2023

30,750

-

362,328

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

2024

2023

2024

2023

£

£

£

£

Trade debtors

3,152,292

2,873,775

1,196,552

1,150,970

Other debtors

164,794

181,719

-

-

3,317,086

3,055,494

1,196,552

1,150,970

9.	CURRENT ASSET INVESTMENTS

Company

2024

2023

£

£

Shares in group undertakings

6,643

6,643

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

2024

2023

2024

2023

£

£

£

£

Trade creditors

578,159

420,558

-

-

Amounts owed to group undertakings

-

-

6,643

6,643

Taxation and social security

261,699

99,437

3,932

(10,509

)

Other creditors

2,627,891

3,040,845

-

-

3,467,749

3,560,840

10,575

(3,866

)

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group

2024

2023

£

£

Other creditors

76,859

162,022

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

13.

RESERVES

Group

Retained

earnings

£

At 1 January 2024

3,629,969

Profit for the year

229,255

At 31 December 2024

3,859,224

Company

Retained

earnings

£

At 1 January 2024

1,178,921

Profit for the year

16,763

At 31 December 2024

1,195,684