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Company registration number: 02082996
Navitas Life Sciences Limited
Filleted financial statements
31 March 2025
Navitas Life Sciences Limited
Contents
Directors and other information
Directors responsibilities statement
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Navitas Life Sciences Limited
Directors and other information

| Directors |  |
|  | Lalit Mahapatra | (Resigned 30 September 2024)
|  | Scott Zhu |
|  | Tran King | (Resigned 16 September 2025)
|  | Camilo Horvilleur |
|  | Harikesavanallur Ramani Srinivasan |
|  | Avaneesh Singh | (Appointed 30 September 2024)
| Company number | 02082996 |
| Registered office | Pure Offices |
|  | Office 58 |
|  | One Port Way |
|  | Port Solent |
|  | PO6 4TY |
| Business address | Pure Offices |
|  | Office 58 |
|  | One Port Way |
|  | Port Solent |
|  | PO6 4TY |
| Auditor | Nagle James Associates Limited |
|  | Amba House, 4th Floor |
|  | 15 College Road, Harrow |
|  | Middlesex |
|  | HA1 1BA |

| Bankers | HSBC Bank Plc
|  | 17A Curzon Street
|  | Mayfair
|  | London
|  | W1J 7LA

Navitas Life Sciences Limited
Directors responsibilities statement
Year ended 31 March 2025
The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Navitas Life Sciences Limited
Statement of financial position
31 March 2025

|  |  | 2025 |  |  |  | 2024 |  |
|  | Note | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |  |
Intangible assets |  | 5 | 82,520 |  |  |  | 123,781 |  |
Tangible assets |  | 6 | - |  |  |  | 235 |  |
|  |  | _______ |  |  |  | _______ |  |
|  |  |  |  | 82,520 |  |  |  | 124,016
Current assets |  |  |  |  |  |  |  |  |
Stocks |  |  | 147,495 |  |  |  | 229,839 |  |
Debtors |  | 7 | 2,523,849 |  |  |  | 1,600,701 |  |
Cash at bank and in hand |  |  | 63,320 |  |  |  | 35,006 |  |
|  |  | _______ |  |  |  | _______ |  |
|  |  | 2,734,664 |  |  |  | 1,865,546 |  |
Creditors: amounts falling due |  |  |  |  |  |  |  |  |
within one year |  | 8 | ( 2,653,266) |  |  |  | ( 2,141,383) |  |
|  |  | _______ |  |  |  | _______ |  |
Net current assets/(liabilities) |  |  |  |  | 81,398 |  |  |  | ( 275,837)
|  |  |  |  | _______ |  |  |  | _______
Total assets less current liabilities |  |  |  |  | 163,918 |  |  |  | ( 151,821)
|  |  |  |  | _______ |  |  |  | _______
Net assets/(liabilities) |  |  |  |  | 163,918 |  |  |  | ( 151,821)
|  |  |  |  | _______ |  |  |  | _______
Capital and reserves |  |  |  |  |  |  |  |  |
Called up share capital |  |  |  |  | 24,000 |  |  |  | 24,000
Profit and loss account |  |  |  |  | 139,918 |  |  |  | ( 175,821)
|  |  |  |  | _______ |  |  |  | _______
Shareholders funds/(deficit) |  |  |  |  | 163,918 |  |  |  | ( 151,821)
|  |  |  |  | _______ |  |  |  | _______

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 12 February 2026 , and are signed on behalf of the board by:
Avaneesh Singh
Director
Company registration number: 02082996
Navitas Life Sciences Limited
Statement of changes in equity
Year ended 31 March 2025

|  | Called up share capital |  | Profit and loss account | Total |  |  |  |  |
|  | £ |  | £ | £ |  |  |  |  |
At 1 April 2023 |  | 24,000 |  | ( 301,161) | ( 277,161) |  |  |  |  |
Profit for the year |  |  |  | 125,340 | 125,340 |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |
Total comprehensive income for the year |  | - |  | 125,340 | 125,340 |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |
At 31 March 2024 and 1 April 2024 |  | 24,000 |  | ( 175,821) | ( 151,821) |  |  |  |  |
Profit for the year |  |  |  | 315,739 | 315,739 |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |
Total comprehensive income for the year |  | - |  | 315,739 | 315,739 |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |
At 31 March 2025 |  | 24,000 |  | 139,918 | 163,918 |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |

Navitas Life Sciences Limited
Notes to the financial statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Pure Offices, Office 58, One Port Way, Port Solent, PO6 4TY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
The financial statements present information about the company as an individual entity and not about its group.
Going concern
The directors have prepared cashflow forecasts for the period 12 months from approval of the financial statements to assess the working capital needs of the company. The forecasts show that the company will have sufficient working capital within the period reviewed and will be able to meet its liabilities as they fall due, subject to support of other group companies and its ultimate parent company.Confirmation of such support has been received from the ultimate parent company.Accordingly the directors believe it is appropriate to prepare the financial statements on a going concern basis.
Disclosure exemptions
The individual accounts of Navitas Life Sciences Limited have also adopted the following disclosure exemptions:- the requirement to present a statement of cash flows and related notes- financial instrument disclosures, including:- categories of financial instruments,- items of income, expenses, gains or losses relating to financial instruments, and- exposure to and management of financial risks.
Consolidation
The company has taken advantage of the exemption from preparing consolidated financial statements contained in Section 400 of the Companies Act 2006 on the basis that it is a subsidiary undertaking and its immediate parent undertaking is established under the law of any part of the United Kingdom.
Judgements and key sources of estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and otherfactors, including expectations of future events that are believed to be reasonable under thecircumstances.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill | - | Over useful economic life of 10 Years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Short leasehold property | - | over the remaining life of the lease |
| Fittings fixtures and equipment | - | 33% per annum on cost |

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are stated at the lower of cost and net realisable value.Work in progress represents consultancy services provided but not yet billed, and in the case of short term contracts is stated at the lower of cost and net realisable value. Where consulting agreements are considered to be long term contracts, profits are attributed on the basis of work completed where the outcome of the contract is reasonably certain.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the year, including the directors, amounted to:

|  |  | 2025 | 2024
| Consulting and PV Nets |  | 12 | 11
| Administration |  | 3 | 3
|  |  | _______ | _______
|  |  | 15 | 14
|  |  | _______ | _______

The aggregate payroll costs incurred during the year were:

|  |  | 2025 | 2024
|  |  | £ | £
| Wages and salaries |  | 1,636,271 | 1,474,245
| Social security costs |  | 107,714 | 100,129
| Other pension costs |  | 137,063 | 121,127
|  |  | _______ | _______
|  |  | 1,881,048 | 1,695,501
|  |  | _______ | _______

5. Intangible assets

|  | Goodwill | Total |  |  |  |
|  | £ | £ |  |  |  |
| Cost |  |  |  |  |  |
| At 1 April 2024 and 31 March 2025 | 515,760 | 515,760 |  |  |  |
|  | _______ | _______ |  |  |  |
| Amortisation |  |  |  |  |  |
| At 1 April 2024 | 391,979 | 391,979 |  |  |  |
| Charge for the year | 41,261 | 41,261 |  |  |  |
|  | _______ | _______ |  |  |  |
| At 31 March 2025 | 433,240 | 433,240 |  |  |  |
|  | _______ | _______ |  |  |  |
| Carrying amount |  |  |  |  |  |
| At 31 March 2025 | 82,520 | 82,520 |  |  |  |
|  | _______ | _______ |  |  |  |
| At 31 March 2024 | 123,781 | 123,781 |  |  |  |
|  | _______ | _______ |  |  |  |

The goodwill on acquisition arises from the purchase of the assets and liabilities related to the consulting, software services and infrastructure development parts of Harmoni ITS Limited (formerly World Class International Limited) on 31 March 2006 and represents the difference between the consideration paid and the net book value of the assets acquired.
6. Tangible assets

|  | Short leasehold property | Fixtures, fittings and equipment | Total |  |  |  |
|  | £ | £ | £ |  |  |  |
| Cost |  |  |  |  |  |  |
| At 1 April 2024 | 56,045 | 203,908 | 259,953 |  |  |  |
| Disposals | - | ( 194,080) | ( 194,080) |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| At 31 March 2025 | 56,045 | 9,828 | 65,873 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| Depreciation |  |  |  |  |  |  |
| At 1 April 2024 | 56,045 | 203,673 | 259,718 |  |  |  |
| Charge for the year | - | 235 | 235 |  |  |  |
| Disposals | - | ( 194,080) | ( 194,080) |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| At 31 March 2025 | 56,045 | 9,828 | 65,873 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| Carrying amount |  |  |  |  |  |  |
| At 31 March 2025 | - | - | - |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| At 31 March 2024 | - | 235 | 235 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |

7. Debtors

|  |  | 2025 | 2024
|  |  | £ | £
| Trade debtors |  | 1,243,041 | 1,090,238
| Amounts owed by group undertakings and undertakings in which the company has a participating interest |  | 1,229,239 | 444,145
| Prepayments and accrued income |  | 50,523 | 48,032
| Other debtors |  | 1,046 | 18,286
|  |  | _______ | _______
|  |  | 2,523,849 | 1,600,701
|  |  | _______ | _______

8. Creditors: amounts falling due within one year

|  |  | 2025 | 2024
|  |  | £ | £
| Trade creditors |  | 133,961 | 318,187
| Amounts owed to group undertakings and undertakings in which the company has a participating interest |  | 101,270 | 170,661
| Accruals and deferred income |  | 2,382,078 | 1,641,458
| Social security and other taxes |  | 34,903 | 9,388
| Other creditors |  | 1,054 | 1,689
|  |  | _______ | _______
|  |  | 2,653,266 | 2,141,383
|  |  | _______ | _______

9. Summary audit opinion
The auditor's report dated 12 February 2026 was unqualified.
The senior statutory auditor was Kaushik Nathwani for and on behalf of Nagle James Associates Limited
10. Related party transactions
The company has taken advantage of the exemption under FRS 102 Section 33.1A not to disclose transactions with fellow subsidiary entities that are 100% owned within the group.
The company's immediate parent is Navitas Life Sciences Holdings Limited, a company incorporated in the UK. The company's parent, which prepares consolidated group financial statements, was Navitas Parent Corporation, with its registered office address at 1450 Brickell Avenue, 31st Floor, Miami, FL
11. Comparative figures
The corresponding figures of previous year have been regrouped, wherever necessary, to confirm to the current year's classification.
12. Guarantees and charges
The company has given a fixed and floating charge over its assets and by way of a debenture in favour of Oxford Finance LLC.