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REGISTERED NUMBER: 11283226 (England and Wales)

Financial Statements for the Year Ended 31 January 2025

for

PharmEstates Limited

PharmEstates Limited (Registered number: 11283226)

Contents of the Financial Statements

for the Year Ended 31 January 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

PharmEstates Limited

Company Information

for the Year Ended 31 January 2025

| DIRECTORS: | D S Brash

| Mrs K K Mudhar

| REGISTERED OFFICE: | Mitchell's Chemist

| 88 New Road Side

| Horsforth

| Leeds

| West Yorkshire

| LS18 4QB

| REGISTERED NUMBER: | 11283226 (England and Wales)

| ACCOUNTANTS: | Richard Smedley Limited

| Chartered Accountants & Registered Auditors

| Richmond House

| Lawnswood Business Park

| Redvers Close

| Leeds

| West Yorkshire

| LS16 6QY

PharmEstates Limited (Registered number: 11283226)

Balance Sheet

31 January 2025

| 31.1.25 | 31.1.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Investment property | 4 | 325,000 |  | 325,000 |  |

CURRENT ASSETS

Cash at bank | 748 |  | 1,809 |  |

CREDITORS

Amounts falling due within one year | 5 | 67,992 |  | 65,475 |  |

NET CURRENT LIABILITIES | (67,244 | ) | (63,666 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 257,756 |  | 261,334 |  |

CREDITORS

Amounts falling due after more than one year | 6 | (114,380 | ) | (122,740 | ) |

PROVISIONS FOR LIABILITIES | (22,258 | ) | (22,258 | ) |

NET ASSETS | 121,118 |  | 116,336 |  |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Non-distributable reserve | 66,773 |  | 66,773 |  |

Retained earnings | 54,245 |  | 49,463 |  |

121,118 |  | 116,336 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

PharmEstates Limited (Registered number: 11283226)

Balance Sheet - continued

31 January 2025

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

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 16 September 2025 and were signed on its behalf by:

D S Brash - Director

PharmEstates Limited (Registered number: 11283226)

Notes to the Financial Statements

for the Year Ended 31 January 2025

1. | STATUTORY INFORMATION

| PharmEstates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. | 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 as modified by the revaluation of certain assets.

| Turnover

| The turnover shown in the income statement represents rents receivable in the year.

| Investment property

| Investment property is shown at market value using best estimation where the director has looked at similar units with the area and came up with the best estimate.

| Financial instruments

| Basic financial instruments are recognised at amortised cost. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

| 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was NIL (2024 - NIL).

PharmEstates Limited (Registered number: 11283226)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2025

4. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 February 2024

| and 31 January 2025 | 325,000 |  |

| NET BOOK VALUE

| At 31 January 2025 | 325,000 |  |

| At 31 January 2024 | 325,000 |  |

| Fair value at 31 January 2025 is represented by:

£ |

| Valuation in 2023 | 89,030 |  |

| Cost | 235,970 |  |

325,000 |  |

| If the property had not been revalued it would have been included at the following historical cost:

| 31.1.25 |  | 31.1.24

£ | £ |

| Cost | 236,970 |  | 236,970 |  |

| Investment property was valued on an open market basis on 31 January 2025 by the directors using a desktop exercise .

5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.1.25 |  | 31.1.24

£ | £ |

| Bank loans and overdrafts | 29,838 |  | 32,019 |  |

| Trade creditors | 1,080 |  | 2,305 |  |

| Taxation and social security | 1,594 |  | 989 |  |

| Other creditors | 35,480 |  | 30,162 |  |

67,992 |  | 65,475 |  |

6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.1.25 |  | 31.1.24

£ | £ |

| Bank loans | 114,380 |  | 122,740 |  |

PharmEstates Limited (Registered number: 11283226)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2025

7. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.1.25 |  | 31.1.24

£ | £ |

| Bank loans | 144,218 |  | 154,759 |  |

| Santantader UK PLC holds a first legal mortgage over the leasehold property and a subordination/priority deed over all other lenders to the company.