REGISTERED NUMBER: 07209211 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Logixx Pharma Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M S Close

REGISTERED OFFICE:

Merlin House

Brunel Road

Theale

Reading

Berkshire

RG7 4AB

REGISTERED NUMBER:

07209211 (England and Wales)

ACCOUNTANTS:

Kevin Hudson Accountancy

29 Thyme Avenue

Whiteley

Fareham

Hampshire

PO15 7NB

FIXED ASSETS

Tangible assets

4

214,697

110,342

Investments

5

-

511,865

214,697

622,207

CURRENT ASSETS

Stocks

1,898,664

1,063,028

Debtors

6

2,039,607

1,593,959

Cash at bank and in hand

82,492

24,337

4,020,763

2,681,324

CREDITORS

Amounts falling due within one year

7

4,438,199

2,563,063

NET CURRENT (LIABILITIES)/ASSETS

(417,436

)

118,261

TOTAL ASSETS LESS CURRENT LIABILITIES

(202,739

)

740,468

CREDITORS

Amounts falling due after more than one year

8

16,667

116,667

NET (LIABILITIES)/ASSETS

(219,406

)

623,801

CAPITAL AND RESERVES

Called up share capital

11

1,000

1,000

Retained earnings

(220,406

)

622,801

SHAREHOLDERS' FUNDS

(219,406

)

623,801

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 November 2025 and were signed by:

Mr M S Close - Director

1.	STATUTORY INFORMATION

Logixx Pharma 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

These financial statements are prepared on the going concern basis. The Director considers it appropriate to prepare the accounts on the going concern basis due to the expectation of continued financial support of the Director.

Turnover

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

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

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

Medical analysis equipment

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sales proceeds and the carrying value of the asses, and is credited or charged to profit and loss.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks

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

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Unlisted fixed asset investments

Interests in unlisted entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2024 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Medical

Fixtures

analysis

and

Motor

Office

equipment

fittings

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1 April 2024

151,497

9,463

147,600

41,690

350,250

Additions

-

11,076

192,290

8,807

212,173

Disposals

-

-

-

(7,036

)

(7,036

)

At 31 March 2025

151,497

20,539

339,890

43,461

555,387

Depreciation

At 1 April 2024

89,449

6,469

112,600

31,390

239,908

Charge for year

15,512

3,517

48,073

4,464

71,566

Eliminated on disposal

-

-

-

(5,784

)

(5,784

)

Impairments

-

-

35,000

-

35,000

At 31 March 2025

104,961

9,986

195,673

30,070

340,690

Net book value

At 31 March 2025

46,536

10,553

144,217

13,391

214,697

At 31 March 2024

62,048

2,994

35,000

10,300

110,342

5.	FIXED ASSET INVESTMENTS

2025

2024

£

£

Other investments not loans

-

331,865

Other loans

-

180,000

-

511,865

Additional information is as follows:

Unlisted

investment

£

Cost

At 1 April 2024

331,865

Disposals

(81,870

)

Impairments

(609,995

)

Reclassification/transfer

360,000

At 31 March 2025

-

Net book value

At 31 March 2025

-

At 31 March 2024

331,865

Other

loans

£

At 1 April 2024

180,000

New in year

230,000

Other movement

(410,000

)

At 31 March 2025

-

£360,000 of loans were converted to 58,252 Ordinary Shares on 27 Nov 2024.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,185,378

809,456

Amounts owed by group undertakings

577,875

577,875

Other debtors

276,354

206,628

2,039,607

1,593,959

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

100,000

186,896

Trade creditors

2,846,587

1,492,014

Taxation and social security

192,434

213,669

Other creditors

1,299,178

670,484

4,438,199

2,563,063

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

16,667

116,667

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

12,873

38,250

Between one and five years

-

3,935

12,873

42,185

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

116,667

216,667

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1,000

Ordinary

£1

1,000

1,000

12.	RELATED PARTY DISCLOSURES

During the year the company entered into the following transactions with related parties:

Purchases from other related parties totalled £602,546 (2024 - £319,254).

Sales of goods to other related parties totalled £41,020 (2024 - £Nil).

Services provided to other related parties totalled £61,847 (2024 - £61,468).

The following balances existed at the balance sheet date with related parties:

Amounts owed from parent company of £577,875 (2024 - £577,875).

Amounts owed from other related parties of £58,556 (2024 - £13,231) .

Amounts owed to other related parties of £343,068 (2024 - £245,258).

Amounts owed to key management personnel of £543,902 (2024 - £161,954).