Macleods Pharma UK Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06455382

Macleods Pharma UK Limited

Filleted Audited Financial Statements

31 March 2026

Macleods Pharma UK Limited

Balance Sheet

31 March 2026

	2026	2025
Note	£	£

Fixed assets

Tangible assets	7	1	1

Current assets

Stocks	8	4,163,822	3,830,946
Debtors	9	1,360,993	1,800,459
Cash at bank and in hand		53,901	123,773
		------------	------------
		5,578,716	5,755,178

Creditors: amounts falling due within one year	10	( 4,785,120)	( 4,607,940)
		------------	------------
Net current assets		793,596	1,147,238
		---------	------------
Total assets less current liabilities		793,597	1,147,239

Provisions	11	35,417	–
		---------	------------
Net assets		829,014	1,147,239
		---------	------------

Capital and reserves

Called up share capital	12	100	100
Profit and loss account		828,914	1,147,139
		---------	------------
Shareholder funds		829,014	1,147,239
		---------	------------

These Audited 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 profit and loss account has not been delivered.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of Audited financial statements.

These Audited financial statements were approved by the board of directors and authorised for issue on 5 June 2026 , and are signed on behalf of the board by:

Vijay Agarwal
Director

Company registration number: 06455382

Macleods Pharma UK Limited

Notes to the Audited Financial Statements

Year ended 31 March 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Wynyard Park House, Wynyard Avenue, Wynyard, TS22 5TB.

2. Statement of compliance

These Audited financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The Audited 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 Audited financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented as there are none that are non-basic. (c) No disclosure has been given for the aggregate remuneration of key management personnel.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of 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 delivery 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.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

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:

	Development costs	-	Have been previously amortised to nil.

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 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:

	Fixtures and fittings	-	Useful life of 3-4 years on straight line basis

Impairment of fixed assets

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. For the purposes of impairment testing, 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 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 measured at the lower of cost and estimated selling price less costs to complete and sell.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity 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 as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2025: 4 ).

5. Tax on (loss)/profit

Major components of tax (income)/expense

	2026	2025
	£	£

Current tax:

UK current tax expense	–	70,658
Adjustments in respect of prior periods	( 70,658)	–
	--------	--------
Total current tax	( 70,658)	70,658
	--------	--------

Deferred tax:

Origination and reversal of timing differences	( 35,417)	–
	---------	--------
Tax on (loss)/profit	( 106,075)	70,658
	---------	--------

Reconciliation of tax (income)/expense

The tax assessed on the (loss)/profit on ordinary activities for the year is the same as (2025: the same as) the standard rate of corporation tax in the UK of 25 % (2025: 25 %).

	2026	2025
	£	£
(Loss)/profit on ordinary activities before taxation	( 424,300)	282,632
	---------	---------
(Loss)/profit on ordinary activities by rate of tax	( 106,075)	70,658
Adjustment to tax charge in respect of prior periods	70,658	–
Utilisation of tax losses	( 70,658)	–
Unused tax losses	35,417	–
Deferred tax movement	( 35,417)	–
	---------	---------
Tax on (loss)/profit	( 106,075)	70,658
	---------	---------

6. Intangible assets

	Development costs
	£
Cost
At 1 April 2025 and 31 March 2026	1,602,609
	------------
Amortisation
At 1 April 2025 and 31 March 2026	1,602,609
	------------
Carrying amount
At 31 March 2026	–
	------------
At 31 March 2025	–
	------------

The development costs above are representative of licences obtained for the purpose of the sale of pharmaceutical goods within the United Kingdom. They have been fully amortised to nil, but remain in use by the company.

7. Tangible assets

	Fixtures and fittings
	£
Cost
At 1 April 2025 and 31 March 2026	3,621
	-------
Depreciation
At 1 April 2025 and 31 March 2026	3,620
	-------
Carrying amount
At 31 March 2026	1
	-------
At 31 March 2025	1
	-------

8. Stocks

	2026	2025
	£	£
Finished goods and goods for resale	4,163,822	3,830,946
	------------	------------

9. Debtors

	2026	2025
	£	£
Trade debtors	1,273,996	1,778,891
Prepayments	16,339	5,229
Corporation tax repayable	70,658	–
Other debtors	–	16,339
	------------	------------
	1,360,993	1,800,459
	------------	------------

10. Creditors: amounts falling due within one year

	2026	2025
	£	£
Trade creditors	2,897,164	3,278,519
Amounts owed to group undertakings	1,548,881	493,765
Corporation tax	–	8,658
Social security and other taxes	154,655	357,188
Pension payable	638	657
Other creditors	183,782	469,153
	------------	------------
	4,785,120	4,607,940
	------------	------------

11. Provisions

	Deferred tax
	£
At 1 April 2025	–
Additions	( 35,417)
	--------
At 31 March 2026	( 35,417)
	--------

12. Called up share capital

Issued, called up and fully paid

	2026		2025
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

13. Summary audit opinion

The auditor's report dated 5 June 2026 was unqualified .

The senior statutory auditor was Christopher Gorman FCA FCCA , for and on behalf of Chipchase Manners .

14. Director's advances, credits and guarantees

There were no directors advances, credits or guarantees in the current or previous year.

15. Related party transactions

Macleods Pharmaceutical Limited is the parent company of Macleods Pharma UK Limited . The parent is incorporated in India. During the year, the company had expenditure reimbursed from its parent company totalling £387,918 (2025: £341,219). During the year, the company had purchases totalling £2,998,199 (2025: £1,911,317) for the purchase of pharmaceutical products and freight charges. At the year end the balance due from the parent company was £247,237 (2025: £341,219),and the amount due to the parent company was £1,796,143 (2025: £834,984). All transactions between the parent company and Macleods Pharma UK Limited are at arms length under normal trading practice. Macleods Pharmaceutical Espana SLU a fellow subsidiary of Macleods Pharmaceutical Limited and is incorporated in Spain. During the year, the company had purchases totalling £7,065 (2025: Nil) for the purchase of pharmaceutical products. All transactions between this company and Macleods Pharma UK Limited are at arms length under normal trading practice.