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REGISTERED NUMBER: SC402799 (Scotland)

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 OCTOBER 2025 |

| FOR |

| NEVIS HEALTHCARE LTD |

NEVIS HEALTHCARE LTD (REGISTERED NUMBER: SC402799)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

NEVIS HEALTHCARE LTD

COMPANY INFORMATION

FOR THE YEAR ENDED 31 OCTOBER 2025

| DIRECTORS: | I Ahmad

| Mrs M Zahid

| REGISTERED OFFICE: | 22 Skylark Wynd

| Motherwell

| ML1 1AQ

| REGISTERED NUMBER: | SC402799 (Scotland)

| ACCOUNTANTS: | Bannerman Johnstone Maclay

| 213 St Vincent Street

| Glasgow

| G2 5QY

NEVIS HEALTHCARE LTD (REGISTERED NUMBER: SC402799)

BALANCE SHEET

31 OCTOBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 902,133 |  | 954,179 |  |

Tangible assets | 5 | 14,462 |  | 19,284 |  |

916,595 |  | 973,463 |  |

CURRENT ASSETS

Stocks | 34,768 |  | 40,139 |  |

Debtors | 6 | 230,534 |  | 227,414 |  |

Cash at bank and in hand | 130,067 |  | 237,533 |  |

395,369 |  | 505,086 |  |

CREDITORS

Amounts falling due within one year | 7 | 510,866 |  | 261,471 |  |

NET CURRENT (LIABILITIES)/ASSETS | (115,497 | ) | 243,615 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 801,098 |  | 1,217,078 |  |

CREDITORS

Amounts falling due after more than one year | 8 | - |  | 422,272 |  |

NET ASSETS | 801,098 |  | 794,806 |  |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | 800,998 |  | 794,706 |  |

SHAREHOLDERS' FUNDS | 801,098 |  | 794,806 |  |

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

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

The directors acknowledge their 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.

NEVIS HEALTHCARE LTD (REGISTERED NUMBER: SC402799)

BALANCE SHEET - continued

31 OCTOBER 2025

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 May 2026 and were signed on its behalf by:

I Ahmad - Director

NEVIS HEALTHCARE LTD (REGISTERED NUMBER: SC402799)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

1. | STATUTORY INFORMATION

| Nevis Healthcare Ltd is a private company, limited by shares , registered in Scotland. 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.

| The financial statements have been prepared in accordance with the going concern principle of accounting. The directors are of the opinion that this is appropriate for the company.

| Turnover

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

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of twenty years.

| Tangible fixed assets

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

| Plant and machinery etc | - | 20% on cost and 15% on cost

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

| Stocks

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

NEVIS HEALTHCARE LTD (REGISTERED NUMBER: SC402799)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

2. | ACCOUNTING POLICIES - continued

| 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 certain debtors and cash and bank balances, are initially measured at transaction price including transactions 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 certain creditors, 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 Income Statement, 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.

NEVIS HEALTHCARE LTD (REGISTERED NUMBER: SC402799)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 11 (2024 - 15 ) .

4. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 November 2024

| and 31 October 2025 | 1,040,922 |  |

| AMORTISATION

| At 1 November 2024 | 86,743 |  |

| Charge for year | 52,046 |  |

| At 31 October 2025 | 138,789 |  |

| NET BOOK VALUE

| At 31 October 2025 | 902,133 |  |

| At 31 October 2024 | 954,179 |  |

NEVIS HEALTHCARE LTD (REGISTERED NUMBER: SC402799)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

5. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 November 2024

| and 31 October 2025 | 59,129 |  |

| DEPRECIATION

| At 1 November 2024 | 39,845 |  |

| Charge for year | 4,822 |  |

| At 31 October 2025 | 44,667 |  |

| NET BOOK VALUE

| At 31 October 2025 | 14,462 |  |

| At 31 October 2024 | 19,284 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 92,093 |  | 66,789 |  |

| Amounts owed by related undertakings | - |  | 4,200 |  |

| Other debtors | 138,441 |  | 156,425 |  |

230,534 |  | 227,414 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | - |  | 55,000 |  |

| Trade creditors | 120,470 |  | 159,691 |  |

| Amounts owed to group undertakings | 358,309 |  | - |  |

| Taxation and social security | 30,668 |  | 43,066 |  |

| Other creditors | 1,419 |  | 3,714 |  |

510,866 |  | 261,471 |  |

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans | - |  | 422,272 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans | - |  | 202,272 |  |

NEVIS HEALTHCARE LTD (REGISTERED NUMBER: SC402799)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

9. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is Morpharm Ltd.