Company No: 07086162 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Mark Brimble
	Joanne Collett

REGISTERED OFFICE	22 Chancery Lane
	London
	WC2A 1LS
	United Kingdom

COMPANY NUMBER

07086162 (England and Wales)

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	7,399		7,518
		7,399		7,518
Current assets
Debtors	4	500,298		280,947
Cash at bank and in hand		789,703		836,354
		1,290,001		1,117,301
Creditors: amounts falling due within one year	5	( 1,168,315)		( 344,325)
Net current assets		121,686		772,976
Total assets less current liabilities		129,085		780,494
Provision for liabilities	6, 7	( 1,877)		( 1,535)
Net assets		127,208		778,959
Capital and reserves
Called-up share capital		100		100
Profit and loss account		127,108		778,859
Total shareholders' funds		127,208		778,959

For the financial 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.

Directors' responsibilities:

• The members have not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Globe Life Sciences Limited (registered number: 07086162) were approved and authorised for issue by the Board of Directors on 29 September 2025. They were signed on its behalf by:

Mark Brimble Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Globe Life Sciences Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 22 Chancery Lane, London, WC2A 1LS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of medical research consultancy services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue in the period in which the services are provided.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets as follows:

Plant and machinery etc.

3 - 5 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer the settlement of the creditor for at least twelve months after the reporting date.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the company is presented as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Dividends

Dividend distributions to the company's shareholders are recognised as a liability in the financial statements in the reporting period in which interim dividends are paid and final dividends approved.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for the service, the excess is recognised as a prepayment

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	12		11

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 January 2024	73,492		73,492
Additions	7,045		7,045
Disposals	( 3,065)		( 3,065)
At 31 December 2024	77,472		77,472
Accumulated depreciation
At 01 January 2024	65,974		65,974
Charge for the financial year	4,695		4,695
Disposals	( 596)		( 596)
At 31 December 2024	70,073		70,073
Net book value
At 31 December 2024	7,399		7,399
At 31 December 2023	7,518		7,518

4. Debtors

	2024		2023
	£		£
Trade debtors	410,364		194,285
Other debtors	89,934		86,662
	500,298		280,947

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	12,573		10,855
Taxation and social security	457,795		236,564
Other creditors	697,947		96,906
	1,168,315		344,325

6. Provision for liabilities

	2024		2023
	£		£
Deferred tax	1,877		1,535

7. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	( 1,535)		0
Charged to the Profit and Loss Account	( 342)		( 1,535)
At the end of financial year	( 1,877)		( 1,535)

8. Financial commitments

Commitments

	2024		2023
	£		£
Total future minimum lease payments under non-cancellable operating lease	50,140		50,140

9. Related party transactions

Transactions with the entity's directors

	2024		2023
	£		£
Directors' loan account	0		100