McAreavey Pharma Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: NI674652

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		223,395		260,628
Tangible Assets	5		16,675		19,792

			240,070		280,420
CURRENT ASSETS
Stocks	6	28,016		28,016
Debtors	7	120,947		122,562
Cash at bank and in hand		45,563		65,287

		194,526		215,865
Creditors: Amounts Falling Due Within One Year	8	(180,603 )		(197,215 )

NET CURRENT ASSETS (LIABILITIES)			13,923		18,650

TOTAL ASSETS LESS CURRENT LIABILITIES			253,993		299,070

Creditors: Amounts Falling Due After More Than One Year	9		(163,333 )		(203,334 )

NET ASSETS			90,660		95,736

CAPITAL AND RESERVES
Called up share capital			1		1
Profit and Loss Account			90,659		95,735

SHAREHOLDERS' FUNDS			90,660		95,736

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McAreavey Pharma Ltd

Balance Sheet (continued)

As At 31 December 2024

For the 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.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mrs Orfhlaith McAreavey

Director

31/05/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

McAreavey Pharma Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI674652 . The registered office is 505 Falls Road , Belfast, BT12 6DE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Revenue from Sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are goodwill. It is amortised to profit and loss account over its estimated economic life of 10 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings

20% Straight Line

2.5. Stocks and Work in Progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 6 (2023: 5)

4. Intangible Assets

	Other
	£
Cost
As at 1 January 2024	372,327

As at 31 December 2024	372,327

Amortisation
As at 1 January 2024	111,699
Provided during the period	37,233

As at 31 December 2024	148,932

Net Book Value
As at 31 December 2024	223,395

As at 1 January 2024	260,628

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McAreavey Pharma Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Tangible Assets

	Fixtures & Fittings
	£
Cost
As at 1 January 2024	41,605
Additions	5,722

As at 31 December 2024	47,327

Depreciation
As at 1 January 2024	21,813
Provided during the period	8,839

As at 31 December 2024	30,652

Net Book Value
As at 31 December 2024	16,675

As at 1 January 2024	19,792

6. Stocks

	2024	2023
	£	£
Stock	28,016	28,016

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	54,256	58,181
Other debtors	66,691	64,381

	120,947	122,562

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	49,224	52,786
Bank loans and overdrafts	40,000	44,156
Amounts owed to participating interests	53,888	56,888
Other creditors	2,914	2,605
Taxation and social security	34,577	40,780

	180,603	197,215

9. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	163,333	203,334

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McAreavey Pharma Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

10. Related Party Transactions

Included in other creditors are amounts due to related party of £53,887 (2023: £56,887). The debt is being repaid monthly and no interest is being charged.

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