Registration number: NI624941

PSC Biotech Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

PSC Biotech Limited

Company Information

Directors

Mr Andrew John Clapham Mrs Heather Kelly

Registered office

5 Lower Catherine Street Newry Co Down BT35 6BE

Accountants

SP McKeown & Co Ltd Chartered Certified Accountants, Registered Auditors & Tax Advisors5 Lower Catherine Street Newry Co Down BT35 6BE

PSC Biotech Limited

(Registration number: NI624941)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	8,539	10,046
Current assets
Debtors	5	182,240	131,933
Cash at bank and in hand		16,218	5,766
		198,458	137,699
Creditors: Amounts falling due within one year	6	(20,300)	(11,533)
Net current assets		178,158	126,166
Total assets less current liabilities		186,697	136,212
Provisions for liabilities		(1,483)	8,682
Net assets		185,214	144,894
Capital and reserves
Called up share capital	7	1	1
Retained earnings		185,213	144,893
Shareholders' funds		185,214	144,894

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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 October 2025 and signed on its behalf by:
 

......................................... Mrs Heather Kelly Director

PSC Biotech Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
5 Lower Catherine Street
Newry
Co Down
BT35 6BE
Northern Ireland

The principal place of business is:
Siena
66 Dublin Road
Newry
Down
BT35 8QW

These financial statements were authorised for issue by the Board on 7 October 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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

PSC Biotech Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office Equipment	15% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or 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 receivables.

PSC Biotech Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Trade creditors

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

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

Share capital

Ordinary shares are classified 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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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 service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 4).

PSC Biotech Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	12,828	12,828
At 31 December 2024	12,828	12,828
Depreciation
At 1 January 2024	2,782	2,782
Charge for the year	1,507	1,507
At 31 December 2024	4,289	4,289
Carrying amount
At 31 December 2024	8,539	8,539
At 31 December 2023	10,046	10,046

5

Debtors

Current	2024 £	2023 £
Trade debtors	19,562	76,069
Other debtors	162,678	55,864
	182,240	131,933

6

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	13,691	12,410
Taxation and social security	2,407	679
Accruals and deferred income	3,218	3,244
Other creditors	984	(4,800)
	20,300	11,533

7	Share capital

Allotted, called up and fully paid shares

PSC Biotech Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	1	1	1	1

8

Dividends

Final dividends paid

		2024 £		2023 £
Final dividend of £Nil per each Ordinary		-		-

9	Related party transactions

Summary of transactions with other related parties

A loan from PSC Biotech Limited based in the Republic of Ireland (Common Director and Shareholder) was increased during the period.The amount owed from PSC Biotech Limited (ROI) at the balance sheet date was £116,393 (owed from PSC Biotech Limited (ROI) at 31st December 2023 - £39,512). This amount is repayable on demand.

During 2022 a loan was made to PSC Biotech India LLP who has a common shareholder. The amount owed to PSC Biotech Ltd (UK) at the balance sheet date was £3,550 (owed from PSC India LLP as at 31st December 2023 - £3,550). This loan is repayable on demand.

During 2024 a loan was made to PSC Biotech based in the UAE who has a common shareholder. The amount owed to PSC Biotech Ltd (UK) at the balance sheet date was £28,117 (owed from PSC UAE as at 31st December 2023 - £nil). This loan is repayable on demand.

Expenses were paid on behalf of PSC Corporation USA in prevous years. The amount owed to PSC Biotech Ltd (UK) at the balance sheet date was £8,330 (owed from PSC Corporation USA as at 31st December 2023 - £8,330). This loan is repayable on demand.