REGISTERED NUMBER: 13582250 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2025

for

M Squared Pharma Ltd

T/A

Patels Chemist

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M Ibrahim

Mr M H A G Patel

REGISTERED OFFICE:

115 Narborough Road

Leicester

Leicestershire

LE3 0PA

REGISTERED NUMBER:

13582250 (England and Wales)

ACCOUNTANTS:

Xitax Limited

Pera Business Park

Nottingham Road

Melton Mowbray

Leicestershire

LE13 0PB

FIXED ASSETS

Intangible assets

3

539,489

550,689

Tangible assets

4

2,566

2,690

542,055

553,379

CURRENT ASSETS

Stocks

30,000

36,783

Debtors

60,327

70,461

Cash at bank and in hand

121,384

33,785

211,711

141,029

CREDITORS

Amounts falling due within one year

753,286

710,785

NET CURRENT LIABILITIES

(541,575

)

(569,756

)

TOTAL ASSETS LESS CURRENT LIABILITIES

480

(16,377

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

380

(16,477

)

480

(16,377

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 June 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 November 2025 and were signed on its behalf by:

Mr M Ibrahim - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

15% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 10 ) .

3.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2024

and 30 June 2025

560,023

AMORTISATION

At 1 July 2024

9,334

Amortisation for year

11,200

At 30 June 2025

20,534

NET BOOK VALUE

At 30 June 2025

539,489

At 30 June 2024

550,689

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2024

2,831

Additions

354

At 30 June 2025

3,185

DEPRECIATION

At 1 July 2024

141

Charge for year

478

At 30 June 2025

619

NET BOOK VALUE

At 30 June 2025

2,566

At 30 June 2024

2,690

5.	RELATED PARTY DISCLOSURES

At the year-end, the company had the following amounts owed to related parties:

Bismillah786 Ltd was owed £488,249.

KI Pharma Ltd, a related party owned 100% by M Patel (who holds 13% of the shares in M Squared Pharma Ltd), was owed £162,750.

All transactions with related parties were conducted at arm's length and on normal commercial terms. The amounts outstanding are unsecured, interest-free, and repayable on demand.

6.	ULTIMATE CONTROLLING PARTY

The company is controlled by Bismillah786 Ltd, a company registered in England and Wales, which holds 75% of its issued share capital.