Registration number: 13043629

Almac Atlantic Ltd

Contents

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

Almac Atlantic Ltd

Company Information

Directors

Andrea Artoni Luigino Vagnozzi

Company secretary

Laggan Secretaries Limited

Registered office

5th Floor North Side 7/10 Chandos Street Cavendish Square London W1G 9DQ

Auditors

DTL Auditors Limited 5th Floor, North Side 7-10 Chandos Street Cavendish Square London W1G 9DQ

Almac Atlantic Ltd

(Registration number: 13043629)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	3,043	4,541
Current assets
Stocks	5	1,062,107	34,798
Debtors	6	1,056,662	222,596
Cash at bank and in hand		281,834	311,372
		2,400,603	568,766
Creditors: Amounts falling due within one year	7	(2,069,382)	(336,305)
Net current assets		331,221	232,461
Net assets		334,264	237,002
Capital and reserves
Called up share capital	8	100,000	100,000
Retained earnings		234,264	137,002
Shareholders' funds		334,264	237,002

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 2 December 2025 and signed on its behalf by:
 

......................................... Andrea Artoni Director

Almac Atlantic Ltd

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

1	General information

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

The address of its registered office is:
5th Floor North Side
7/10 Chandos Street
Cavendish Square
London
W1G 9DQ
England

These financial statements were authorised for issue by the Board on 2 December 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.

Almac Atlantic Ltd

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

Audit report

The Independent Auditor's Report was qualified. The previous auditors were not appointed as auditor of the company until after September 2024 and thus did not observe the counting of physical inventories at the end of 31 December 2023. Therefore we were unable to satisfy ourselves by alternative means concerning the inventory quantities of £34,798 held at 31 December 2023 by using other audit procedures. Consequently, we were unable to determine whether any adjustment to this amount at 31 December 2023 was necessary or whether there was any consequential effect on the cost of sales for the year ended 31 December 2024..

The name of the Senior Statutory Auditor who signed the audit report on 2 December 2025 was John Tiltman, who signed for and on behalf of DTL Auditors Limited.

.........................................

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.

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 current 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.

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.

Almac Atlantic Ltd

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

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
Plant and machinery	3 years
Computer equipment	3 years

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Almac Atlantic Ltd

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

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 1 (2023 - 3).

4	Tangible assets

	Office equipment £	Other tangible assets  £	Total £
Cost or valuation
At 1 January 2024	550	4,167	4,717
At 31 December 2024	550	4,167	4,717
Depreciation
At 1 January 2024	61	115	176
Charge for the year	161	1,337	1,498
At 31 December 2024	222	1,452	1,674
Carrying amount
At 31 December 2024	328	2,715	3,043
At 31 December 2023	489	4,052	4,541

5

Stocks

	2024 £	2023 £
Spare parts and machinery	1,062,107	34,798

6

Debtors

Current	2024 £	2023 £
Trade debtors	1,041,879	193,933
Prepayments	10,863	9,063
Other debtors	3,920	19,600
	1,056,662	222,596

Almac Atlantic Ltd

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

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Trade creditors		130,133	1,313
Amounts owed to group undertakings and undertakings in which the company has a participating interest		1,851,900	190,229
Taxation and social security		30,933	116,130
Accruals and deferred income		12,772	28,143
Other creditors		43,644	490
		2,069,382	336,305

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	100,000	100,000	100,000	100,000

9	Parent and ultimate parent undertaking

The company's immediate parent is Almac spa, incorporated in Italy.

  These financial statements are available upon request from Via Caduti sui Lavoro, 1 46019 Viadana MN, Italy