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Registered Number: 14499215
England and Wales
Abridged Accounts
for the year ended 31 December 2025
for
GRINDEKS KALCEKS UK LIMITED

GRINDEKS KALCEKS UK LIMITED Contents Page For the year ended 31 December 2025
Independent Auditor's Report | 1
Statement of Financial Position | 2
Notes to the Financial Statements | 3

GRINDEKS KALCEKS UK LIMITED INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF GRINDEKS KALCEKS UK LIMITED For the year ended 31 December 2025
Opinion We have audited the financial statements of Grindeks Kalceks UK Limited (the 'Company') for the year ended 31 December 2025 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the Company's affairs as at 31 December 2025 and of its loss for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006 Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. Other Information The directors are responsible for the other information. The other information comprises the information in the Directors' Report, but does not include the financial statements and our Auditors' Report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinion on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: - the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the Directors' Report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of directors' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Directors' Report. Responsibilities of directors As explained more fully in the Directors' Responsibilities Statement set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so. Auditor’s responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. The objectives of our audit in respect of fraud are to assess the risk of material misstatement due to fraud, design and implement appropriate responses to those assessed risks and to respond appropriately to instances of fraud or suspected fraud identified during the course of our audit. However, the primary responsibility for the prevention and detection of fraud rests with management and those charged with governance of the company. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following: - We obtained understanding of the legal and regulatory requirements applicable to the company's financial statements and considered the most significant are the Companies Act 2006, Financial Reporting Standards (FRS102) and UK taxation legislation; - We have assessed the risk of material misstatement of the financial statements, including risk of material misstatement due to fraud and how it might occur by holding discussions with management and those charged with governance; - We enquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations; - Understanding the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations; and - Discussions amongst the audit engagement team regarding how fraud might occur in the financial statements and any potential indicators of fraud. As part of this discussion we identified the following potential areas where fraud may occur: timing of revenue recognition and management override. The audit response to risks identified included: - Reviewing the financial statements disclosures and testing to supporting documentation to assess compliance with the relevant laws and regulations above; - Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risk of material misstatement due to fraud; - In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments, assessing whether the judgements made in making accounting estimates are reasonable and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report. Use of this report This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members as a body, for our audit work, for this report, or for the opinions we have formed. Ryan Falls (F.C.A) (Senior Statutory Auditor) for and on behalf of Cooper Parry Audit (Ireland) Limited Statutory Auditors Chartered Accountants and Registered Auditor Unit 7, Dye House Line Green, Dungannon, Co.Tyrone BT71 7HB Date: 06 July 2026 1

Registered Number: 14499215 GRINDEKS KALCEKS UK LIMITED Statement of Financial Position As at 31 December 2025
| Notes | 2025 £ |  | 2024 £
--- | --- | --- | --- | ---
Fixed assets |  |  |
Tangible fixed assets | 3 | 1,554 |  | 931
|  | 1,554 |  | 931
Current assets |  |  |
Stocks |  | 2,468,395 |  | 213,773
Debtors |  | 1,908,605 |  | 49,817
Cash at bank and in hand |  | 43,982 |  | 26,650
|  | 4,420,982 |  | 290,240
Creditors: amount falling due within one year |  | (4,114,967) |  | (48,534)
Net current assets |  | 306,015 |  | 241,706
Total assets less current liabilities |  | 307,569 |  | 242,637
Creditors: amount falling due after more than one year |  | - |  | (378,172)
Accruals and deferred income |  | - |  | (226,168)
Net assets |  | 307,569 |  | (361,703)
Capital and reserves |  |  |
Called up share capital | 4 | 200,000 |  | 1,725
Profit and loss account |  | 107,569 |  | (363,428)
Shareholders' funds |  | 307,569 |  | (361,703)
These 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 to the Registrar of Companies. The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A). The financial statements were approved by the board of directors on 06 July 2026 and were signed on its behalf by:
------------------------------- Julie WORTH Director
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GRINDEKS KALCEKS UK LIMITED Notes to the Abridged Financial Statements For the year ended 31 December 2025
General Information GRINDEKS KALCEKS UK LIMITED is a private company, limited by shares, registered in England and Wales, registration number 14499215, registration address CENTRUM BUILDING, NORWICH RESEARCH PARK NORWICH, NR4 7UG. The presentation currency is £ sterling.
1. | Accounting policies Significant accounting policies The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard) Going concern basis The financial statements have been prepared on a going concern basis. The directors have assessed the company's ability to continue as a going concern and, based on their review, the company's financial position, cash flow forecast and available financing, have a reasonable expectation that the company will be able to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis. Turnover Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. Foreign currencies Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement. Taxation Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Current and deferred tax assets and liabilities are not discounted Deferred taxation Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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. Current and deferred tax assets and liabilities are not discounted. Tangible fixed assets Tangible fixed assets are stated at cost less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment | 4 years Straight Line
Stocks Stocks are valued at the lower of cost and net realisable value, after providing for obsolete and slow moving items. Cost includes purchase cost and other directly attributable costs. Provisions Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated. 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.
2. | Average number of employees Average number of employees during the year was 3 (2024 : 2).
3. | Tangible fixed assets
Cost or valuation | Computer Equipment |  | Total
| £ |  | £
At 01 January 2025 | 1,310 |  | 1,310
Additions | 1,174 |  | 1,174
Disposals | - |  | -
At 31 December 2025 | 2,484 |  | 2,484
Depreciation
At 01 January 2025 | 379 |  | 379
Charge for year | 551 |  | 551
On disposals | - |  | -
At 31 December 2025 | 930 |  | 930
Net book values
Closing balance as at 31 December 2025 | 1,554 |  | 1,554
Opening balance as at 01 January 2025 | 931 |  | 931
4. | Share Capital Authorised 200,000 Class A shares of £1.00 each
Allotted, called up and fully paid | 2025 £ |  | 2024 £
--- | --- | --- | ---
200,000 Class A shares of £1.00 each | 200,000 |  | 1,725
| 200,000 |  | 1,725
5. | Related parties During the year the company entered into the following transactions with related parties:
| Transaction value - income/(expenses) |  | Balance owed by/(owed to)
--- | --- | --- | ---
| 2025 £ |  | 2024 £ |  | 2025 £ |  | 2024 £
JSC Grindeks - loan, principal amount | - |  | - |  | - |  | (378,172)
JSC Grindeks - loan, accrued interests | (14,726) |  | (10,160) |  | (32) |  | (9,956)
JSC Grindeks - purchase of goods and services | (632,368) |  | - |  | (645,185) |  | -
JSC Kalceks - purchase of goods | (3,380,754) |  | (173,668) |  | (2,992,540) |  | (172,386)
JSC Kalceks - hospitals' rebates compensation | 585,841 |  | - |  | 585,841 |  | -
JSC Kalceks - hospitals' rebates compensation - accruals | 166,727 |  | - |  | 166,727 |  | -
In 2023, the company entered into a loan agreement with its parent company, JSC Grindeks, and continued to receive loans under this agreement during 2025. During 2025, part of the loan was converted into share capital, and the remaining balance was fully repaid. The company also has a purchase agreements for goods (pharmaceutical products) and services (website maintenance) with its parent company. All transactions are conducted on an arm's length basis. Additionally, the company has a supply agreement for pharmaceutical products with a fellow subsidiary, JSC Kalceks, which is under common control of the parent undertaking. Purchases under this agreement are also carried out on an arm's length basis.
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