REGISTERED NUMBER: 07055288 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Ricanto Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Dr A Clarke

R A B Stewart

REGISTERED OFFICE:

10 Station Road

Henley on Thames

Oxfordshire

RG9 1AY

REGISTERED NUMBER:

07055288 (England and Wales)

ACCOUNTANTS:

Ridgefield Consulting Ltd

2 Hinksey Court

Church Way

Oxford

Oxfordshire

OX2 9SX

FIXED ASSETS

Tangible assets

4

112

131

Investments

5

2,474

2,854

2,586

2,985

CURRENT ASSETS

Debtors

6

602,599

573,262

Cash at bank

8,008

17,224

610,607

590,486

CREDITORS

Amounts falling due within one year

7

761,171

721,265

NET CURRENT LIABILITIES

(150,564

)

(130,779

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(147,978

)

(127,794

)

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

(148,278

)

(128,094

)

(147,978

)

(127,794

)

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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2025 and were signed on its behalf by:

Dr A Clarke - Director

1.	STATUTORY INFORMATION

Ricanto 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 Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

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

-

15% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and at least the next 12 months from the signing of the financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

8,271

DEPRECIATION

At 1 January 2024

8,140

Charge for year

19

At 31 December 2024

8,159

NET BOOK VALUE

At 31 December 2024

112

At 31 December 2023

131

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 January 2024

2,854

Revaluations

(380

)

At 31 December 2024

2,474

NET BOOK VALUE

At 31 December 2024

2,474

At 31 December 2023

2,854

Cost or valuation at 31 December 2024 is represented by:

Other

investments

£

Valuation in 2024

(380

)

Cost

2,854

2,474

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Amounts owed by group undertakings

600,864

573,262

Other debtors

1,735

-

602,599

573,262

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

-

136

Amounts owed to group undertakings

141,419

140,898

Taxation and social security

-

404

Other creditors

619,752

579,827

761,171

721,265

8.	RELATED PARTY DISCLOSURES

US3 Partnership LLP is a related party in which a director is a designated member. At the start of the year, US3 Partnership LLP owed the Company £151,981. During the year, the Company paid expenses of £1,440 (2023: £1,766) on behalf of the LLP. At the year end, US3 Partnership LLP owed the Company £153,421.

Renown Pharma Inc. is a related party by virtue of common directors. At the start of the year, Renown Pharma Inc. owed the the Company £421,282. During the year, the Company paid expenses on behalf of Renown Pharma Inc. of £26,162 (2023: £5,013). At the year end, Renown Pharma Inc. owed the Company £447,444.

Renown Pharma Limited is a related party by virtue of common directors. At the start of the year, the Company owed Renown Pharma Limited £140,899. During the year, the Company paid expenses on behalf of Renown Pharma Limited of £1,545 (2023: £4,976). At the year end, the Company owed Renown Pharma Limited £141,419, after accounting for a foreign exchange loss of £2,065 (2023: gain of £8,162).