REGISTERED NUMBER: 05132743 (England and Wales)

Audited Financial Statements

For The Year Ended 31 March 2025

for

Astron Research Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr B H Chudgar

SECRETARY:

Mr N Parmar

REGISTERED OFFICE:

Sage House

319 Pinner Road

North Harrow

Middlesex

HA1 4HF

REGISTERED NUMBER:

05132743 (England and Wales)

AUDITORS:

RNS Business Solutions Limited

Chartered Accountants

Statutory Auditors

276 Preston Road

Harrow

Middlesex

HA3 0QA

CURRENT ASSETS

Debtors

6

180,923

143,649

Cash at bank

169,373

192,076

350,296

335,725

CREDITORS

Amounts falling due within one year

7

(12,702

)

(36,648

)

NET CURRENT ASSETS

337,594

299,077

TOTAL ASSETS LESS CURRENT LIABILITIES

337,594

299,077

CAPITAL AND RESERVES

Called up share capital

9

100,000

100,000

Profit and loss account

237,594

199,077

SHAREHOLDERS' FUNDS

337,594

299,077

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 10 July 2025 and were signed by:

Mr B H Chudgar - Director

1.	STATUTORY INFORMATION

Astron Research 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 applicable United Kingdom accounting standards, including Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis, except for the modification to a fair value basis for certain financial instruments as specified in the accounting policies below.

The financial statements are presented in the company's functional currency which is Sterling (£).

Significant judgements and estimates

The company makes certain judgements and estimates regarding the future. Judgements and estimates are continually evaluated based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the future, actual experience may differ from these judgements and estimates. The judgements and estimates that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Judgements:

(i) Depreciation rates

Annual rates applied in the depreciation policies are based on experience and past performance. Rates are continuously under assessment which may lead to revision in the future.

Tangible fixed assets

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

Short leasehold

-

in accordance with the property

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

25% on reducing balance

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 taxation

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 currency translation

In preparing the financial statements of the entity, transactions in currencies other than the functional currency of the entity (foreign currencies) are recognised at the spot rate at the dates of the transactions, or at an average rate where this rate approximates the actual rate at the date of the transaction. At the end of each reporting period, monetary items denominated in foreign currencies are retranslated at the rates prevailing at that date. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated. Exchange differences are recognised in profit or loss in the period in which they arise.

Financial instruments

The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method.

(ii) Financial liabilities

Basis financial liabilities, including trade and other payables, bank loans and loans from fellow group companies, 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 receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value after transaction costs and are measured subsequently at amortised cost using the effective interest method.

Cash and cash equivalents

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

Going concern

The director has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, which is a period of at least 12 months from the date of signing these financial statements. The company also has support from holding company. Therefore, the financial statements have been prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

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

4.	AUDITORS' REMUNERATION

31/3/25

31/3/24

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

4,000

4,000

Auditors' remuneration for non audit work

3,000

3,000

Auditors' remuneration - non audit work analysis

31/03/25

31/03/24

Accountancy

2,400

2,400

Taxation

600

600

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

Totals

£

£

£

£

COST

At 1 April 2024

3,522

693,504

171,733

868,759

Disposals

-

(693,504

)

(171,733

)

(865,237

)

At 31 March 2025

3,522

-

-

3,522

DEPRECIATION

At 1 April 2024

3,522

693,504

171,733

868,759

Eliminated on disposal

-

(693,504

)

(171,733

)

(865,237

)

At 31 March 2025

3,522

-

-

3,522

NET BOOK VALUE

At 31 March 2025

-

-

-

-

At 31 March 2024

-

-

-

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Amounts owed by group undertakings

32,589

33,272

Other debtors

55,249

60,626

Prepayments and accrued income

93,085

49,751

180,923

143,649

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Trade creditors

2,821

3,176

Tax

-

25,185

VAT

2,881

1,287

Accruals and deferred income

7,000

7,000

12,702

36,648

8.	SECURED DEBTS

The company's UK bankers hold a debenture including a fixed charge over all present freehold and leasehold property, a first fixed charge over book and other debts, chattels, goodwill and uncalled capital, both present and future, and a first floating charge over all assets and undertaking both present and future.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/25

31/3/24

value:

£

£

100,000

Ordinary

£1

100,000

100,000

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Rakesh Sangani BA FCA (Senior Statutory Auditor)

for and on behalf of RNS Business Solutions Limited

11.	RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity

Accord Healthcare Limited, UK

(wholly owned subsidiary of the ultimate parent company Intas Pharmaceuticals Ltd)

31/3/25

31/3/24

£

£

Sales

-

-

Administrative costs recharged

366,984

299,514

Amount due from related party at the balance sheet date

32,589

33,272

Lambda Therapeutic Limited, UK

Mr B H Chudgar is a director and a shareholder of Lambda Therapeutic Research Limited (a company incorporated in India) and has overall control by virtue of his shareholding and his family's interest in the company. Lambda Therapeutic Limited (a company incorporated in England) is a wholly owned direct subsidiary of Lambda Therapeutic Research Limited.

31/3/25

31/3/24

£

£

Amount due from related party at the balance sheet date

44,459

49,836

12.	ULTIMATE CONTROLLING PARTY

For the year ended 31 March 2025 and March 2024:

The group was not under the control of any one party. However, Mr B H Chudgar (a director) and the Chudgar family together have a controlling interest by virtue of shareholding in the ultimate parent company.

13.	ULTIMATE PARENT COMPANY

Intas Pharmaceuticals Limited (incorporated in India) is regarded by the director as being the company's ultimate

parent company.

For the year ended 31 March 2025 and March 2024:

In the opinion of the directors, the ultimate parent company is Intas Pharmaceuticals Limited, a company incorporated in India. The smallest and largest group of which this group is a member and for which group consolidated financial statements are prepared is Intas Pharmaceuticals Limited. The group financial statements of Intas Pharmaceuticals Limited may be obtained from the company secretary at 2nd Floor, Chinubhai Centre, Off Nehru Bridge, Ashram Road, Ahmedabad, 380 009, India.