REGISTERED NUMBER: 13516128 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

FOR

TOPIA LIFE SCIENCES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr Kamleshkumar Patel

SECRETARY:

Mr Kamleshkumar Patel

REGISTERED OFFICE:

128 City Road

London,

EC1V 2NX

REGISTERED NUMBER:

13516128 (England and Wales)

AUDITORS:

Ashford Louis

Chartered Certified Accountants

& Registered Auditors

187 High Road Leyton

London

E15 2BY

FIXED ASSETS

Intangible assets

4

2,387,302

2,387,302

Investments

5

1,027

1,027

2,388,329

2,388,329

CURRENT ASSETS

Debtors

6

184,914

91,718

Cash at bank

6,184

4,850

191,098

96,568

CREDITORS

Amounts falling due within one year

7

3,241,828

2,267,965

NET CURRENT LIABILITIES

(3,050,730

)

(2,171,397

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(662,401

)

216,932

CREDITORS

Amounts falling due after more than one year

8

313,928

361,928

NET LIABILITIES

(976,329

)

(144,996

)

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

(976,429

)

(145,096

)

SHAREHOLDERS' FUNDS

(976,329

)

(144,996

)

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 director and authorised for issue on 8 July 2026 and were signed by:

Mr Kamleshkumar Patel - Director

1.	STATUTORY INFORMATION

Topia Life Sciences Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax. The total turnover of the company for the year has been derived from the provision of goods and services falling within the company's principal activities.

Development cost

No amortisation is provided, as the product development is ongoing.

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.

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.

Going concern

As of 31 July 2025, the Company's current liabilities exceed its current assets. This condition indicates the existence of a material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern.The director has assessed the situation and is confident in the Company's ability to continue as a going concern due to financial support provided by the director personally and from associated companies. The director has confirmed his commitment and that of the associated companies to provide the necessary financial support to meet the Company's obligations as when they fall due, hence the financial statements have prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1 August 2024

and 31 July 2025

2,387,302

NET BOOK VALUE

At 31 July 2025

2,387,302

At 31 July 2024

2,387,302

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 August 2024

and 31 July 2025

1,027

NET BOOK VALUE

At 31 July 2025

1,027

At 31 July 2024

1,027

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

£

Trade debtors

105,750

48,606

Amounts owed by associates

22,931

41,378

Other debtors

56,233

1,734

184,914

91,718

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

£

Trade creditors

268,577

11,880

Amounts owed to associates

585,020

335,913

Taxation and social security

5,195

9,545

Other creditors

2,383,036

1,910,627

3,241,828

2,267,965

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.25

31.7.24

£

£

Other creditors

313,928

361,928

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.25

31.7.24

value:

£

£

100

Ordinary share

£1

100

100

10.

RESERVES

Retained

earnings

£

At 1 August 2024

(145,096

)

Deficit for the year

(831,333

)

At 31 July 2025

(976,429

)

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Hayford Doh FCCA MBA(Fin) BA(Hon) (Senior Statutory Auditor)

for and on behalf of Ashford Louis

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year, the company sold goods and services to related company at commercial rate totalling £109,814 (2024 : £49,591).

During year, the company was provided with product development services by related companies totalling £138,221 (2024 : £nil). At the balance sheet date, the company owed £585,020 (2024 : £335,913) to associated companies. The company was also owed £22,931 (2024 : £41,378) by other associated companies.

During the year, a closely related member of the Director also provided product Development consultancy services with an accrued cost totalling £360,000 (2024 : £120,000) to the company.

At the balance sheet date, the company owed the director £998, 534 (2024 : £878,128).

13.	POST BALANCE SHEET EVENTS

Subsequent to the balance sheet date, on 31 July 2025, the company in discussion to potentially acquire an AI-powered pharma intelligence software system. This strategic investment is designed to enhance operational efficiency, improve financial reporting processes, and support the Company's long-term growth objectives in alignment with its digital transformation strategy.

The total consideration for the software, including related implementation costs, amounts to One Million pounds (£1,000,000). The software will be recognised as an intangible asset in accordance with UK Financial Reporting Standard (FRS) 102, Section 18: Intangible Assets other than Goodwill. Amortisation will commence once the software is operational and will be amortised over its estimated useful life.

Management has assessed this potential acquisition as a non-adjusting event under the provisions of Section 32 of FRS 102 because it represents conditions that arose after the reporting period. Consequently, no adjustment has been made to the financial statements as 31 July 2025.

Also, on 28 January 2025, the Board approved a demerger intended to establish separate corporate entities for the Group’s MedTech, Pharma Intelligence and Life Sciences / Drug Discovery businesses. The demerger became legally effective on 1 August 2025, subsequent to the reporting date. From that date, Topia MedTech Limited and Topia Pharma Intelligence Limited operate as separate companies, while Topia Life Sciences Limited continues the Life Sciences and Drug Discovery business.

The completion of the demerger is considered a material non-adjusting event after the reporting period. Accordingly, no adjustment has been made to the amounts recognised in these financial statements as at 31 July 2025.