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Registered number: 11457556 IMMEDICA PHARMA UK LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2025
IMMEDICA PHARMA UK LIMITED REGISTERED NUMBER: 11457556 BALANCE SHEET AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 4 | 498,162 |  | 460,355 |
Cash at bank and in hand | 5 | 130,100 |  | 67,447 |
|  | 628,262 |  | 527,802 |
Creditors: amounts falling due within one year | 6 | (355,429) |  | (287,353) |
Net current assets |  |  | 272,833 |  | 240,449
Total assets less current liabilities |  |  | 272,833 |  | 240,449
Net assets |  |  | 272,833 |  | 240,449
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Profit and loss account |  |  | 272,733 |  | 240,349
|  |  | 272,833 |  | 240,449
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ P A Edvell
Director
Date: 6 May 2026
The notes on pages 3 to 7 form part of these financial statements. Page 1
IMMEDICA PHARMA UK LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2025
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 January 2024 | 100 | 127,429 | 127,529
Comprehensive income for the year |  |  |
Profit for the year | - | 112,920 | 112,920
Total comprehensive income for the year | - | 112,920 | 112,920
Total transactions with owners | - | - | -
At 1 January 2025 | 100 | 240,349 | 240,449
Comprehensive income for the year |  |  |
Profit for the year | - | 32,384 | 32,384
Total comprehensive income for the year | - | 32,384 | 32,384
Total transactions with owners | - | - | -
At 31 December 2025 | 100 | 272,733 | 272,833
| The notes on pages 3 to 7 form part of these financial statements.
Page 2
IMMEDICA PHARMA UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
Immedica Pharma UK Limited ("The Company") is a company incorporated in the United Kingdom under the Companies Act. The Company is a private company, limited by shares and is registered in England & Wales. The registered office Suite 4, 7th Floor 50 Broadway, London SW1H 0DB. The Company was incorporated on 10 July 2018 as Medical Need UK Limited. On 13 June 2019, the Company changed its name to Immedica Pharma UK Limited. The principal activity of the company in the period under review was that of providing sales and marketing services for its parent company. The Company's functional and presentational currency is GBP. Balances are rounded to the nearest whole £. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. The following principal accounting policies have been applied:
| 2.2 | Going concern
The Company has obtained a letter of support from its parent, Immedica Pharma AB. The directors of Immedica Pharma AB have provided a commitment to provide any financial support which may be necessary in order that the Company can continue to meet its liabilities, as they fall due, for the foreseeable future. As a result of this commitment the directors have continued to adopt the going concern basis in preparing these financial statements. Page 3
IMMEDICA PHARMA UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.3 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is pound sterling (£) rounded to the nearest whole pound. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
| 2.4 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Turnover represents amounts charged to the parent company under a services and marketing agreement, excluding value added taxation. Turnover is recognised when costs are incurred.
| 2.5 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.6 | Interest income
Interest income is recognised in profit or loss using the effective interest method. Page 4
IMMEDICA PHARMA UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.7 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 2.8 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.9 | 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.
| 2.10 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. Page 5
IMMEDICA PHARMA UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.11 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3. | Employees
| The average monthly number of employees, including directors, during the year was 8 (2024 - 7).
4. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed by group undertakings | 463,503 | 414,210
| Other debtors | 22,531 | 20,783
| Prepayments and accrued income | 8,861 | 25,362
| Deferred taxation | 3,267 | -
|  | 498,162 | 460,355
5. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 130,100 | 67,447
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 4,191 | 3,513
| Corporation tax | 14,061 | 35,140
| Other taxation and social security | 34,670 | 31,129
| Accruals and deferred income | 302,507 | 217,571
|  | 355,429 | 287,353
Page 6
IMMEDICA PHARMA UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
7. | Pension commitments
The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £75,446 (2024- £71,066) contributions totalling were £15,894 (2024 - £31,129) payable to the fund at the balance sheet date and are iincluded iin creditors.
8. | Commitments under operating leases
| At 31 December 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 33,127 | 34,988
| Later than 1 year and not later than 5 years | 36,901 | 73,548
|  | 70,028 | 108,536
9. | Controlling party
The immediate parent company is Immedica Pharma AB, a company incorporated in Sweden. Immedica Pharma Holding AB, the immedicate parent company of Immedica Pharma AB, is the smallest entity to include Immedica Pharma UK Ltd in its consolidated financial statements. The principal place of business of Immedica Pharma AB is Solnavägen 3H, 113 36 Stockholm, Sweden. Until 19 September 2024 the ultimate controlling party is Impilo Holdings AB. On 19 September 2024 the ultimate controlling party became Immedica Topco AB. Immedica Topco AB is the largest company to include Immedica Pharma UK Limited in its consolidated accounts.
10. | Auditor's information
The auditor's report on the financial statements for the year ended 31 December 2025 was unqualified. The audit report was signed on 7 May 2026 by Simon Buss (Senior Statutory Auditor) on behalf of Nortons Assurance Limited.
Page 7