SOLAS PHARMACEUTICALS LTD

Company Registration Number:
NI620612 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 December 2024

Period of accounts

Start date: 01 January 2024

End date: 31 December 2024

SOLAS PHARMACEUTICALS LTD

Contents of the Financial Statements

for the Period Ended 31 December 2024

Balance sheet
Notes

SOLAS PHARMACEUTICALS LTD

Balance sheet

As at 31 December 2024


Notes
2024
2023


£
£
Fixed assets
Intangible assets: 3 118,984 129,484
Tangible assets: 4 542,163 579,019
Total fixed assets: 661,147 708,503
Current assets
Stocks: 454,301 558,810
Debtors: 5 267,648 410,959
Cash at bank and in hand: 755,176 210,706
Total current assets: 1,477,125 1,180,475
Creditors: amounts falling due within one year: 6 (1,149,019) (875,981)
Net current assets (liabilities): 328,106 304,494
Total assets less current liabilities: 989,253 1,012,997
Creditors: amounts falling due after more than one year: 7 (729,804) (654,429)
Total net assets (liabilities): 259,449 358,568
Capital and reserves
Called up share capital: 8,004 8,004
Profit and loss account: 251,445 350,564
Shareholders funds: 259,449 358,568

The notes form part of these financial statements

SOLAS PHARMACEUTICALS 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 23 September 2025
and signed on behalf of the board by:

Name: Aaron Carlyle
Status: Director

The notes form part of these financial statements

SOLAS PHARMACEUTICALS 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

SOLAS PHARMACEUTICALS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

2. Employees

2024 2023
Average number of employees during the period 13 8

SOLAS PHARMACEUTICALS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Intangible Assets

Total
Cost £
At 01 January 2024 210,000
At 31 December 2024 210,000
Amortisation
At 01 January 2024 80,516
Charge for year 10,500
At 31 December 2024 91,016
Net book value
At 31 December 2024 118,984
At 31 December 2023 129,484

SOLAS PHARMACEUTICALS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

4. Tangible Assets

Total
Cost £
At 01 January 2024 786,007
Disposals (3,500)
At 31 December 2024 782,507
Depreciation
At 01 January 2024 206,988
Charge for year 33,356
At 31 December 2024 240,344
Net book value
At 31 December 2024 542,163
At 31 December 2023 579,019

SOLAS PHARMACEUTICALS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

5. Debtors

2024 2023
££
Debtors due after more than one year: 0 0

SOLAS PHARMACEUTICALS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

6. Creditors: amounts falling due within one year note

2024 2023 Bank Loans and Overdrafts 10,648 29,922 Trade Creditors 184,781 169,919 Amounts owed to group undertakings 833,777 532,884 Corporation Tax 50,515 66,809 Social security and other taxes 52,787 58,707 Other creditors 16,511 17,740 1,149,019 875,981

SOLAS PHARMACEUTICALS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

7. Creditors: amounts falling due after more than one year note

2024 2023 Bank loans and overdrafts 10,987 1,666 Amounts owed to group undertakings 718,817 652,763 729,804 654,429

SOLAS PHARMACEUTICALS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

8. Loans to directors

Name of director receiving advance or credit: Feilim Henry
Description of the loan: Directors Loan
£
Balance at 01 January 2024 69,083
Advances or credits repaid: 3
Balance at 31 December 2024 69,080