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Registered number: 12336822 RICHMOND GLOBAL SCIENCES, LTD. FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
RICHMOND GLOBAL SCIENCES, LTD. COMPANY INFORMATION
Directors | P Kellner
| S Kotsantonis
Company secretary | Taylor Wessing Secretaries Limited
Registered number | 12336822
Registered office | 5 New Street Square
| London
| EC4A 3TW
RICHMOND GLOBAL SCIENCES, LTD. CONTENTS
| Page
Balance Sheet | 1
Notes to the Financial Statements | 2 - 7
RICHMOND GLOBAL SCIENCES, LTD. REGISTERED NUMBER: 12336822 BALANCE SHEET AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 1,433 |  | 2,668
Current assets |  |  |  |  |
Debtors | 5 | 13,321 |  | 43,387 |
Cash at bank and in hand |  | 44,296 |  | 34,441 |
|  | 57,617 |  | 77,828 |
Creditors: Amounts Falling Due Within One Year | 6 | (2,610,688) |  | (2,251,118) |
Net current liabilities |  |  | (2,553,071) |  | (2,173,290)
Net liabilities |  |  | (2,551,638) |  | (2,170,622)
Capital and reserves |  |  |  |  |
Allotted, called up and fully paid share capital |  |  | 1 |  | 1
Profit and loss account |  |  | (2,551,639) |  | (2,170,623)
Equity shareholders' deficit |  |  | (2,551,638) |  | (2,170,622)
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. 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 Directors' Report and the Statement of Income and Retained Earnings in accordance with provisions applicable to companies subject to the small companies regime, under section 444 of the Companies Act 2006. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 May 2026.
S Kotsantonis
Director
The notes on pages 2 to 7 form part of these financial statements. Page 1
RICHMOND GLOBAL SCIENCES, LTD. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
Richmond Global Sciences, Ltd. (Company number: 12336822), having its registered office and principal place of trade at 5 New Street Square, London, EC4A 3TW, is a private limited company incorporated in England and Wales. 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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The following principal accounting policies have been applied:
| 2.2 | Statement of Cash Flows
The Company has taken advantage of the exemption in Financial Reporting Standard 102, section 1A.7 from the requirement to produce a Statement of Cash Flows on the grounds that it is a small company.
| 2.3 | Going concern
At the year end, the Company had net liabilities of £2,551,638 (2024: £2,170,622) and incurred a loss of £381,016 (2024: £639,127) during the year ended 31 December 2025. The Company is reliant on the support of the parent Company. The directors of the Company are of the opinion that this support will continue. The Company should, therefore, be able to continue in operational existence for the foreseeable future by meeting its liabilities as they fall due for payment. As with any Company placing reliance on other entities for financial support, the directors acknowledge there can be no certainty that this support will continue, although at the date of approval of these financial statements, they have no reason to believe that it will not do so. On this basis, the directors believe that it is appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result in the going concern basis of preparation being inappropriate. Page 2
RICHMOND GLOBAL SCIENCES, LTD. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.4 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is British Pounds Sterling (GBP). 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 the Statement of Income and Retained Earnings. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of Income and Retained Earnings within 'other operating income'.
| 2.5 | 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: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.6 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings 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. Page 3
RICHMOND GLOBAL SCIENCES, LTD. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.7 | Interest income
Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.
| 2.8 | 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 the Statement of Income and Retained Earnings 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.
| 2.9 | Taxation
Tax is recognised in the Statement of Income and Retained Earnings. The current corporation 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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date. Page 4
RICHMOND GLOBAL SCIENCES, LTD. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.10 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Office equipment | - | 33% | straight-line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in Statement of Income and Retained Earnings.
| 2.11 | Debtors
Short-term debtors are measured at transaction price, less any impairment.
| 2.12 | 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.
| 2.13 | Creditors
Short-term creditors are measured at the transaction price.
| 2.14 | Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the Balance Sheet date. Page 5
RICHMOND GLOBAL SCIENCES, LTD. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
3. | Employees
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Wages and salaries | 163,333 | 225,391
| Social security costs | 11,721 | 22,129
| Cost of defined contribution scheme | 7,733 | 8,169
|  | 182,787 | 255,689
| The average monthly number of employees, including directors, during the year was 3 (2024 - 4).
4. | Tangible fixed assets
|  | Office equipment
|  | £
| Cost |
| At 1 January 2025 | 10,576
| Additions | 748
| At 31 December 2025 | 11,324
| Depreciation |
| At 1 January 2025 | 7,908
| Charge for the year | 1,983
| At 31 December 2025 | 9,891
| Net book value |
| At 31 December 2025 | 1,433
| At 31 December 2024 | 2,668
Page 6
RICHMOND GLOBAL SCIENCES, LTD. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Due within one year |  |
| Trade debtors | - | 10,467
| Other debtors | 13,321 | 10,884
| Prepayments and accrued income | - | 22,036
|  | 13,321 | 43,387
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 5,431 | 2,160
| Amounts owed to group undertakings | 2,557,552 | 2,200,008
| Other taxation and social security | 5,108 | 6,309
| Other creditors | 40,747 | 40,891
| Accruals and deferred income | 1,850 | 1,750
|  | 2,610,688 | 2,251,118
7. | Related party transactions
| The Company has taken advantage of Section 33.1A of FRS 102 in not disclosing transactions between wholly-owned members of a group.
Page 7