Company registration number 16400139 (England and Wales)
COMAC MEDICAL GROUP LTD
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
Affinia
19th Floor
1 Westfield Avenue
London
E20 1HZ
COMAC MEDICAL GROUP LTD
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
COMAC MEDICAL GROUP LTD
STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2025
30 April 2025
- 1 -
2025
Notes
€
€
Creditors: amounts falling due within one year
4
(7,159)
Net current liabilities
(7,159)
Capital and reserves
Called up share capital
5
-
0
Profit and loss reserves
(7,159)
Total equity
(7,159)

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

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 16 April 2026 and are signed on its behalf by:
Mr C Smyth
Mr S Angus
Director
Director
Company registration number 16400139 (England and Wales)
COMAC MEDICAL GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2025
- 2 -
1
Accounting policies
Company information

Comac Medical Group Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, 25 Farringdon Street, London, United Kingdom, EC4A 4AB.

1.1
Reporting period

The financial statements have been prepared for an accounting period not equal to 12 months due to the current period being the first set of financial statements prepared by the company.

1.2
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in euros, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest €.

At the year end date, the exchange rate was 1.1462 Euros per British Pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As this is a newly incorporated entity, this is demonstrated by the funds available from companies that have been acquired post the period end, as per note 6.

As part of the assessment, the Director's have determined that the subsidiary companies have sufficient cash to support the parent company.

1.4
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.

1.5
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 statement of financial position 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.

COMAC MEDICAL GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 3 -
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 paymen ts 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. A m ounts 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.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

COMAC MEDICAL GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 4 -
1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Going concern

Judgement is required when assessing the going concern basis of preparation remains appropriate. This assessment requires consideration of the Company's current financial position, expected future cash flows, and the availability of financing and other support for a period of at least twelve months from the date of approval of the financial statements.

The Directors have decided the going concern of the company based upon the companies ability to call upon financial support of other group companies that have been acquired after the period end.

The Directors have evaluated detailed cash flow forecasts for the company's subsidiaries, including sensitised downside scenarios, and assessed the potential impact of uncertainties affecting performance, cost levels, and working capital requirements. The Directors have exercised judgements in determining the likelihood of these scenarios and in evaluating the mitigating actions available to the Company if applicable.

Based on the Directors' assessments they have determined that the going concern basis of preparation is appropriate.

3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2025
Number
Total
2
COMAC MEDICAL GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 5 -
4
Creditors: amounts falling due within one year
2025
€
Other creditors
7,159
5
Called up share capital
2025
2025
Ordinary share capital
Number
€
Issued and fully paid
Ordinary Shares of 0.01p each
100
-
0
100
-
0

On 22 April 2025, 100 Ordinary shares at a value of €0.0001 each were issued.

6
Events after the reporting date

On 2 May 2025, the Company completed the acquisition of 100% of the ordinary share capital of IL ife C onsulting Sarl, for a total consideration of €16 million, made up of €10.5 million cash and €5.5 million of share capital in Comet International Holding Ltd.

On 28 November 2025, the company completed the acquisition of 100% of the ordinary share capital of Comac Medical EOOD, for an issue of 100 ordinary shares in Comac Medical Group Ltd in exchange for 100% share capital in Comac Medical EOOD (5,000 BGN).

Both companies are now considered wholly owned subsidiaries.

7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified.

Senior Statutory Auditor:
Richard Lane
Statutory Auditor:
Affinia (Stratford)
Date of audit report:
16 April 2026
8
Parent company

The immediate parent of the company is Comet International Holding Ltd.

The controlling fund is EdgeCap Partners I Usaldusfond.

The ultimate controlling party is Kristjan Piilmann.

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