Registration number: 13529719

Probus Medicines Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

Probus Medicines Limited

Company Information

Directors

Dr R Murthy Dr K Smithson Mr J S Casey

Registered office

The Surgery Tregony Road Probus Cornwall TR2 4JZ

Probus Medicines Limited

(Registration number: 13529719)
Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Intangible assets	4	-	1,344
Tangible assets	5	4,549	6,261
		4,549	7,605
Current assets
Stocks	6	18,621	-
Debtors	7	29,618	100
Cash at bank and in hand		66,231	-
		114,470	100
Creditors: Amounts falling due within one year	8	(265,578)	(22,703)
Net current liabilities		(151,108)	(22,603)
Total assets less current liabilities		(146,559)	(14,998)
Provisions for liabilities		(1,137)	(1,901)
Net liabilities		(147,696)	(16,899)
Capital and reserves
Called up share capital	9	100	100
Retained earnings		(147,796)	(16,999)
Shareholders' deficit		(147,696)	(16,899)

Probus Medicines Limited

(Registration number: 13529719)
Balance Sheet as at 31 March 2026

For the financial year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 July 2026 and signed on its behalf by:
 

......................................... Dr R Murthy Director

Probus Medicines Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Surgery
Tregony Road
Probus
Cornwall
TR2 4JZ

These financial statements were authorised for issue by the Board on 19 July 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

The directors acknowledge the company's net current and net liability position at the balance sheet date and the result for the year ended 31 March 2026. This position is expected given that the company only started trading on 1 April 2025 and so income is in a growth phase.

Included within creditors: amounts due within one year is £230,522 (2024: £21,541) which is owed to the parent company and a related entity. The parent company and related entity have provided assurances that this debt will not be called in until the company is in a position to afford the repayment.

On the basis of these assurances, the directors have satisfied themselves that the company is a going concern and have prepared the accounts on this basis.

Probus Medicines Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture, fittings and equipment	5 years straight line
Plant and machinery	5 years straight line

Probus Medicines Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Software	3 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2025 - 0).

Probus Medicines Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

4	Intangible assets

	Software  £	Total £
Cost or valuation
At 1 April 2025	3,000	3,000
Disposals	(500)	(500)
At 31 March 2026	2,500	2,500
Amortisation
At 1 April 2025	1,656	1,656
Amortisation charge	844	844
At 31 March 2026	2,500	2,500
Carrying amount
At 31 March 2026	-	-
At 31 March 2025	1,344	1,344

Probus Medicines Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

5	Tangible assets

	Furniture, fittings and equipment £	Plant and machinery £	Total £
Cost or valuation
At 1 April 2025	8,268	-	8,268
Additions	-	1,305	1,305
Disposals	(1,378)	-	(1,378)
At 31 March 2026	6,890	1,305	8,195
Depreciation
At 1 April 2025	2,007	-	2,007
Charge for the year	1,378	261	1,639
At 31 March 2026	3,385	261	3,646
Carrying amount
At 31 March 2026	3,505	1,044	4,549
At 31 March 2025	6,261	-	6,261

6

Stocks

	2026 £	2025 £
Other inventories	18,621	-

7

Debtors

Current	2026 £	2025 £
Trade debtors	30	-
Other debtors	29,588	100
	29,618	100

Probus Medicines Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

8

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Trade creditors		33,756	162
Amounts owed to group undertakings and undertakings in which the company has a participating interest	10	28,741	5,789
Accruals and deferred income		1,300	1,000
Other creditors		201,781	15,752
		265,578	22,703

9	Share capital

Allotted, called up and not fully paid shares

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

10	Related party transactions

The company's immediate parent is Probus Surgery Limited, incorporated in England.