West Pharmaceutical Services Group Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 7

West Pharmaceutical Services Group Limited

Balance Sheet

31 December 2024

	Note	2024 £ 000	2023 £ 000
Fixed assets
Investments	4	12,293	12,293
Current assets
Debtors	5	227	230
Net assets		12,520	12,523
Capital and reserves
Called up share capital	6	33,171	33,171
Capital redemption reserve		20,991	20,991
Profit and loss account		(41,642)	(41,639)
Shareholders' funds		12,520	12,523

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 29 September 2025 and signed on its behalf by:
 

......................................... S Kearns Director

Company Registration Number: 02352532

West Pharmaceutical Services Group Limited

Notes to the Financial Statements

Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
C/O Corporation Service Company (UK) Limited
5 Churchill Place
10th Floor
London
E14 5HU
United Kingdom

These financial statements were authorised for issue by the Board on 29 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency of these financial statements is Sterling.

Summary of disclosure exemptions

The company has taken advantage of the exemption, under FRS 102 paragraph 1.12(b), from preparing a statement of cash flows, on the basis that it is a qualifying entity and its ultimate parent company, West Pharmaceutical Services Inc., includes the company's cash flows in its own consolidated financial statements. The company has also taken advantage of the exemption under paragraph 33.1a of the provisions of FRS 102, "Related Party Disclosures", on the grounds that it is a wholly owned subsidiary of a group headed by West Pharmaceutical Services Inc., whose financial statements are publicly available.

As the consolidated financial statements of West Pharmaceutical Services Inc. include the equivalent disclosures, the company has also taken the exemptions under FRS 102 available in respect of the following disclosures required by FRS 102.11 Basic Financial Instruments and FRS 102.12 Other Financial Instrument Issues in respect of financial instruments not falling within the fiar value accounting rules of Paragraph 36(4) of Schedule 1.

West Pharmaceutical Services Group Limited

Notes to the Financial Statements

Year Ended 31 December 2024

2	Accounting policies (continued)

Name of parent of group

These financial statements are consolidated in the financial statements of West Pharmaceutical Services Inc.

The financial statements of West Pharmaceutical Services Inc may be obtained from 530 Herman O. West Drive, Exton, Pennsylvania, USA.

Group accounts not prepared

The financial statements contain information about West Pharmaceutical Services Group Limited as an individual company and do not contain consolidated financial information as the parent of a group.

The company is exempt under section 401 of the Companies Act 2006 from the requirement to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, West Pharmaceutical Services Inc., a company incorporated in the United Stated of America. The financial statements are publicly available..

Going concern

Key sources of estimation uncertainty

Impairment of investment
The investment in the company's subsidiary is held at cost less accumulated impairment. The directors assess whether there are any impairment triggers annually. Where impairment triggers are identified, the carrying value of the investment is compared to the recoverable amount, being the higher of its fair value less costs of disposal and its value in use. If the carrying amount is greater than the recoverable amount, the investment is impaired down to its recoverable amount, with a charge being recognised in the profit and loss. The directors have considered the carrying value of the investment and have impaired the value in the accounts accordingly. The 2023 carrying value is supported by the subisidiary's value in use.

Revenue recognition

(i) Royalty income is recognised on an accruals basis in accordance with the substance of the agreement.

(ii) Dividend income is recognised when the right to receive payment is established.

Foreign currency transactions and balances

Transactions in foreign currencies are translated at the rate of exchange ruling at the date of transaction. Monetary assets and liabilitis expressed in foregin currencies are retranslated into sterling at the rates of exchange ruling at the balance sheet date. Exchange differences are taken into account in arriving at the operating result.

Investments

Investment in subsidiary companies are held at cost less accumulated impairment losses.

West Pharmaceutical Services Group Limited

Notes to the Financial Statements

Year Ended 31 December 2024

2	Accounting policies (continued)

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Basic financial assets, including other debtors, are initially recognised at transaction price. Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is recognised in profit or loss. Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Basic financial liabilities, including amounts owed to group undertakings, are initially recognised at transaction price. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

 

Pillar Two legislation

Pillar Two of the Organisation for Economic Co-Operation and Development's (“OECD's”) Two Pillar Solution provides for the taxation of income of large groups at a minimum effective rate of 15% on a jurisdictional basis.

The Company is part of the West Pharmaceutical Services Inc. group which is large enough to be in scope for this legislation. The Company has met and claimed one of the safe harbour tests, and as such the Company does not have any current tax expense relating to Pillar Two.
 

3	Staff numbers

The average number of persons employed by the company during the year was 0 (2023 - 0).

West Pharmaceutical Services Group Limited

Notes to the Financial Statements

Year Ended 31 December 2024

4	Investments

	2024 £ 000	2023 £ 000
Investments in subsidiaries	12,293	12,293