EPIDAREX MANAGEMENT LTD

Company Registration Number:
SC640075 (Scotland)

Unaudited abridged accounts for the year ended 31 December 2024

Period of accounts

Start date: 01 January 2024

End date: 31 December 2024

EPIDAREX MANAGEMENT LTD

Contents of the Financial Statements

for the Period Ended 31 December 2024

Balance sheet
Notes

EPIDAREX MANAGEMENT LTD

Balance sheet

As at 31 December 2024


Notes
2024
2023


£
£
Fixed assets
Tangible assets: 3 5,853 11,494
Total fixed assets: 5,853 11,494
Current assets
Debtors: 4 125,337 107,579
Cash at bank and in hand: 10,802 11,886
Total current assets: 136,139 119,465
Creditors: amounts falling due within one year: 5 (607,583) (691,204)
Net current assets (liabilities): (471,444) (571,739)
Total assets less current liabilities: (465,591) (560,245)
Creditors: amounts falling due after more than one year:   (288,460) (269,215)
Total net assets (liabilities): (754,051) (829,460)
Capital and reserves
Called up share capital: 7,500 7,500
Other reserves: (114,583) (114,583)
Profit and loss account: (646,968) (722,377)
Shareholders funds: (754,051) (829,460)

The notes form part of these financial statements

EPIDAREX MANAGEMENT LTD

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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 16 April 2025
and signed on behalf of the board by:

Name: Kyparissia Sirinakis
Status: Director

The notes form part of these financial statements

EPIDAREX MANAGEMENT LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Other accounting policies

(b) Going Concern The financial statements are prepared on a going concern basis after consideration of the contractual guaranteed management fees due to the Company. (c) Revenue recognition Revenue represents income generated by operating as the manager of the Funds. Revenue is recognised at the fair value of the consideration received or receivable on fee income. Fees are recognised when the outcome can be reliably estimated. When the outcome cannot be reliably estimated, fees are recognised to the extent such amounts are recoverable. All operations are conducted in the United Kingdom. (d) Creditors payable within one year Creditors with no stated interest rate and receivable or payable 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.

EPIDAREX MANAGEMENT LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

2. Employees

2024 2023
Average number of employees during the period 6 6

The average number of persons employed by the Company during the period amounted to six (2023: six). In addition to salary, several of the Directors received health insurance coverage from the Company amounting to £4,974 (2023: £4,443).

EPIDAREX MANAGEMENT LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Tangible Assets

Total
Cost £
At 01 January 2024 40,774
Additions 1,364
Disposals (1,520)
At 31 December 2024 40,618
Depreciation
At 01 January 2024 29,280
Charge for year 7,005
On disposals (1,520)
At 31 December 2024 34,765
Net book value
At 31 December 2024 5,853
At 31 December 2023 11,494

EPIDAREX MANAGEMENT LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

4. Debtors

2024 2023
££
Debtors due after more than one year: 125,337 107,579

Amounts owed by Epidarex Exeed Limited, Epidarex Capital II LP, Epidarex Partners Limited, Epidarex Capital CP LLP, Epidarex Capital Partners Limited, Epidarex Capital III UK GP LP, Epidarex Capital III UK LP, EIF Co-Invest LP, Epidarex Capital UK GP LLP, and EPX II Co-Invest LP are for reimbursement of expenses paid for on behalf of these related entities. The entities are related due to common ownership or management contracts.

EPIDAREX MANAGEMENT LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

5. Creditors: amounts falling due within one year note

At 31 December 2024: Accounts payable: £34,743 Bank loan: £398,524 Accrued expenses: £44,437 4 Other current liabilities: £129,878 Accounts payable are due to vendors for services received during the year in the ordinary course of business. The Company has a bank loan with GrassHopper Bank N.A. to cover short term cash fluctuations. The loan bears interest at a rate the greater of (i) the US Prime Rate plus one quarter of one percent (0.25%) and (ii) three and one half of one percent (3.50%). The bank loan is guaranteed by the Company’s management fee income.

EPIDAREX MANAGEMENT LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

6. Loans to directors

Name of director receiving advance or credit: Elizabeth Roper
Description of the loan: The Company issued a £70,019 loan to one of its Directors on 29 January 2021 to be repaid by 31 December 2029, accruing interest at a rate of 1.08288%
£
Balance at 01 January 2024 72,981
Advances or credits repaid: 7,714
Balance at 31 December 2024 65,267

As of 31 December 2024, £2,962 (2023: £2,214) of interest has accrued on the loan and £7,714 (2023: £1,456) of the balance has been repaid. As of 31 December 2024, the balance due on the loan is £65,267 (2023: £70,777). As the loan was offered to one of the directors of the Company, the loan is subject to a tax under Section 455 of the Corporation Tax Act 2010, amounting to £22,756. Such tax can be reclaimed upon repayment.