Company registration number 03452110 (England and Wales)
PRIME MEDICA LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PRIME MEDICA LIMITED
CONTENTS
Page
Strategic report
1 - 3
Director's report
4 - 5
Independent auditor's report
6 - 8
Statement of income and retained earnings
9
Balance sheet
10
Notes to the financial statements
11 - 20
PRIME MEDICA LIMITED
COMPANY INFORMATION
Director
G E Peterson
Company number
03452110
Registered office
Mere House
Brook Street
Knutsford
Cheshire
WA16 8GP
Auditor
Azets Audit Services
Ship Canal House
98 King Street
Manchester
M2 4WU
PRIME MEDICA LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

The director presents this strategic report together with the audited financial statements for the year ended 31 December 2025.

Prime Global partners with the world's leading names in healthcare and technology, as well as the most exciting start-ups and scale-ups. We provide a mix of expertise which encompasses high science, communications combined with award winning and cutting-edge technology, evidence and data, and visionary creativity.

Together we accelerate life-changing solutions to global healthcare challenges. Prime Medica Limited is a wholly owned subsidiary of Prime Global Medical Communications Limited, a growing and successful independent life science communications and commercialisation partner, with offices in the UK (London, Knutsford and Cambridge), the US (New York and California) as well as satellite locations in Greece, Spain and New Zealand.

Business review

Prime Medica Ltd’s turnover increased by 6% in 2025, as a result of business restructuring and reallocation of business within the Group.

Principal risks and uncertainties

Market Demand

The client base is predominantly ‘blue chip’ global pharmaceutical companies, which have robust business continuity plans in place. Whilst the macro-economic outlook has placed increased pressure on client budgets and led to a lengthening of the procurement process, the Company has continued to receive purchase orders, invoice payments and contract documentation and expects to continue to grow the business throughout 2026 and 2027.

Operations

Management minimised spend on non-essential items in order to mitigate the impact of any future project cancellations and to lessen the cashflow impact of the delayed project delivery. The company has invested in developing new tools and KPIs to help drive efficiency and agility in its project teams to be better able to respond to variations in client demands. The market for global medical communications remains buoyant and future business pipelines remain strong.

Cash

The Company maintained strong cash reserves throughout 2025 and continues to benefit from a revolving credit facility as it continues its next stage of its growth strategy.

Sensitivity Analysis

Management have performed sensitivity analysis in respect of fee revenue and cash flow forecast. This analysis indicates the Company will have sufficient cash reserves in order to pay obligations within 12 months from the signing of the financial statements.

Conclusion

Management conclude that the Company continues to be well placed to service its clients.

PRIME MEDICA LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
Cash and debt facilities

The Company had significant cash on hand as at year end and has an arranged overdraft facility with HSBC bank which it can call on if required to support the cashflow requirements of the Company.

The Company considers that it has adequate short term cashflows and financing facilities in place to continue to trade and meet its obligations to pay debts as they fall cue.

Other risks of the business are as follows:

- The international client base exposes the Company to exchange rate movements predominantly in USD and EUR. Hedging techniques are used where appropriate to manage this risk.

- The potential risk of losing client business or managing changes to the prescribing recommendations is mitigated by various client and service diversification strategies and by delivering a high value-added quality service thereby creating strong growth and opportunities. The organisational structure is designed to ensure that the impact of any negative factors or situations are mitigated and managed by a strong Company ethos.

Financial performance indicators

Financial performance of the business is reviewed monthly through management reporting of various KPI's for net revenue, gross margin, expenditure and overall EBIT.

Cash flow forecasting and overhead expenditure are monitored and managed monthly. The directors review the KPI's on a regular basis, ensuring optimal overall business performance.

People first vision

Investing in the right people and developing a team of experts in communications within the healthcare sector is critical to our brand vision. The company has invested in recruitment and training programmes to ensure upscaling and opportunities exist for all staff through individualised personal development plans.

PRIME MEDICA LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
Promoting the success of the company

Section 172 of the Companies Act 2006 requires a Director of a company to act in the way they consider, in good faith would be most likely to promote the success of the company for the benefit of the members as a whole. In doing this, section 172 requires a Director to have regard, among other matters, to:

• The likely consequences of any decisions in the long term;

• The interests of the company's employees;

• The need to foster the company's business relationships with suppliers, customers and others;

• The impact of the company's operations on the community and the environment;

• The desirability of the company maintaining a reputation for high standards of business and conduct;

• The need to act fairly between shareholders of the company.

During the year ended 31 December 2025 the Directors consider they have, individually and collectively, acted in a way that is most likely to promote the success of the Group for the benefit of its shareholders as a whole and have given due consideration to each of the above matters in discharging their duties under section 172. The stakeholders we consider in this regard are our employees, our clients, our shareholder, and our suppliers.

The board recognises the importance of the relationships with our stakeholders in supporting the delivery of our strategy and operating the business in a sustainable manner. Directors are briefed on their duties, and they can access professional advice on these from an independent advisor throughout the period a Director holds office.

The Board recognises the importance of building and maintaining relationships with all its key stakeholders to achieve long term success. Further details of our stakeholder engagement are set out below:

Employees

Our employees are integral to the successful delivery of the Group's strategy. Employees' knowledge, skills, and experience are key to maintaining our strong client relationships. As such, the Group is focused on the recruitment, development, retention, and reward of its employees. Employees are encouraged to attend training courses and there is regular communication with employees to ensure that employees are informed of all matters affecting them. Within the bounds of law, regulation and commercial confidentiality, information is shared to all levels of staff about matters that affect the progress of the Group and are of interest and concern to them as employees.

Clients

Our clients are of paramount importance, and the Group seeks to retain clients and establish long and lasting relationships with them, built on respect and trust. The Group is focused on providing world-leading life science communications and supporting clients across all stages of the product lifecycle.

Shareholders

The Company communicates regularly with the Group's shareholders, and the Directors actively seek to maintain a strong relationship with its immediate parent and major shareholder. The Chief Executive Officer and the Chief Financial Officer provide regular updates to the majority shareholder on the operational and financial progress the Group is making.

Suppliers

The Group endeavours to build strong relationships with suppliers built on honesty, fairness, and mutual respect. We speak with key suppliers on a regular basis and take reasonable steps to ensure our suppliers comply with our standards, such as those relating to environmental responsibility, modern slavery, data protection, human rights, and ethics.

On behalf of the board

G E Peterson
Director
30 April 2026
PRIME MEDICA LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 4 -

The director presents his annual report and financial statements for the year ended 31 December 2025.

Principal activities

The principal activity and aim of the company is to be the strategic partner of choice within the global biotechnology and pharmaceutical sectors, and to provide innovative global medical communications and market access services throughout any product, therapeutic or disease lifecycle. These services include strategic consultancy, strategic publication planning, comprehensive and innovative medical communication plans and education programmes, market access and HEOR support including the full spectrum creative, digital and branding services.

Results and dividends

The results for the year are set out on page 9.

Ordinary dividends were paid amounting to £Nil (2024: £570,720). The directors do not recommend payment of a further dividend.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

S Jenkins
(Resigned 30 April 2025)
G E Peterson
Disabled persons

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the company continues and that the appropriate training and support systems are arranged. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

Employee involvement

The company's policy is to consult and discuss with employees, through company newsletters and staff meetings, matters likely to affect employees' interests. Information about matters of concern to employees is given through company meetings which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the company's performance.

Auditor

The auditor, Azets Audit Services, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of director's responsibilities

The director is responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

PRIME MEDICA LIMITED
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 5 -

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the director individually ha s taken all the necessary steps that they ought to have taken as director in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
G E Peterson
Director
30 April 2026
PRIME MEDICA LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF PRIME MEDICA LIMITED
- 6 -
Opinion

We have audited the financial statements of Prime Medica Limited (the 'company') for the year ended 31 December 2025 which comprise the statement of income and retained earnings, the balance sheet and notes to the financial statements, including 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 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 Auditor's 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. 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. 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 course of 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the director's r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the director's report have been prepared in accordance with applicable legal requirements.

PRIME MEDICA LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF PRIME MEDICA LIMITED (CONTINUED)
- 7 -
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 identifie d material misstatements in the strategic report or the director's r eport.

We have nothing to report in respect of the following matters in relation to which 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 director's remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the director's r esponsibilities s tatement, the director is 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 director determines is 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 director is 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 director either intends to liquidate the company or to cease operations, or has 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 auditor's 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.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

PRIME MEDICA LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF PRIME MEDICA LIMITED (CONTINUED)
- 8 -

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

- Reviewing minutes of meetings of those charged with governance;

- Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

- Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Use of our report

This report is made solely to the company's member 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 member those matters we are required to state to the member in an auditor's 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 member, for our audit work, for this report, or for the opinions we have formed.

Andrew Reddington (Senior Statutory Auditor)
For and on behalf of Azets Audit Services, Statutory Auditor
Chartered Accountants
Ship Canal House
98 King Street
Manchester
M2 4WU
30 April 2026
PRIME MEDICA LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
2025
2024
Notes
£
£
Turnover
3
13,076,298
12,276,547
Cost of sales
(12,183,419)
(11,811,612)
Gross profit
892,879
464,935
Administrative expenses
(5,979,404)
(6,260,980)
Other operating income
3
3,595,972
6,243,239
Operating (loss)/profit
4
(1,490,553)
447,194
Interest payable and similar expenses
486
-
0
(Loss)/profit before taxation
(1,490,067)
447,194
Tax on (loss)/profit
7
354,815
(121,745)
(Loss)/profit for the financial year
(1,135,252)
325,449
Retained earnings brought forward
4,605,942
4,851,213
Dividends
8
-
0
(570,720)
Retained earnings carried forward
3,470,690
4,605,942
PRIME MEDICA LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 10 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
9
155,437
230,063
Current assets
Debtors
10
15,285,052
17,045,746
Cash at bank and in hand
796,165
146,946
16,081,217
17,192,692
Creditors: amounts falling due within one year
11
(12,707,949)
(12,741,757)
Net current assets
3,373,268
4,450,935
Total assets less current liabilities
3,528,705
4,680,998
Provisions for liabilities
Deferred tax liability
12
8,015
25,056
(8,015)
(25,056)
Net assets
3,520,690
4,655,942
Capital and reserves
Called up share capital
13
50,000
50,000
Profit and loss reserves
15
3,470,690
4,605,942
Total equity
3,520,690
4,655,942

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 30 April 2026 and are signed on its behalf by:
G E Peterson
Director
Company registration number 03452110 (England and Wales)
PRIME MEDICA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 11 -
1
Accounting policies
Company information

Prime Medica Limited is a private company limited by shares incorporated in England and Wales. The registered office is Mere House, Brook Street, Knutsford, Cheshire, WA16 8GP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of the Reduced Financial Reporting Regime, as permitted by FRS 102, regarding the disclosure requirements of Sections 3, 4, 7, 11, 12 and 33 of the standard.

The financial statements of the company are consolidated in the financial statements of Prime Global Medical Communications Ltd. These consolidated financial statements are available from Companies House, Crown Way, Cardiff, CF14 3UZ.

1.2
Going concern

A true t the time of approving the financial statements, t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

I n forming this assessment, the director has a reasonable expectation of continued support through the injection of funds to the wider group, if required, from external investors and is confident the underlying business has the ability to generate sufficient positive cash flows which will support the payment of liabilities and meet all other financial obligations as they fall due. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

The director note s that the business is trading profitably in terms of Earnings Before Interest, Tax, Depreciation and Amortisation and is forecast to continue to be cash generative for a period of at least 12 months from the date of signing these accounts.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and trade discounts.

Profit on long-term contracts is recognised as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

PRIME MEDICA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 12 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Short leasehold improvements
Straight line over the term of the lease
Fixtures and fittings
25% reducing balance
Computers
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

1.6
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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

PRIME MEDICA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 13 -
1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are enacted or substantively enacted at the balance sheet date. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

PRIME MEDICA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 14 -
1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.13

Other operating income

Rental income from operating leases is recognised on a straight line basis over the lease term.

The company recognises management fees on the basis of services provided to its fellow subsidiaries.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Turnover and profit recognition

Profit on long-term contracts is recognised as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of work carried out at the balance sheet date, by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Turnover derived from variations on contracts is only recognised when they have been accepted by the customer.

Recoverability of intercompany debtors

In making assessment of the recoverability of intercompany debtors, the directors review forecasts and strategies for the businesses. The directors are confident that intercompany debtors are recoverable in full.

3
Turnover and other revenue

The whole of the turnover is attributable to the principal activity of the company.

The proportion of turnover that is attributable to markets outside of the United Kingdom is 2025: 90% (2024: 87%).

PRIME MEDICA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
3
Turnover and other revenue
(Continued)
- 15 -
2025
2024
£
£
Other operating income
Net rents receivable
45,060
51,107
Management charges to group undertakings
3,550,912
6,192,133
3,595,972
6,243,240
4
Operating (loss)/profit
2025
2024
Operating (loss)/profit for the year is stated after charging:
£
£
Exchange differences
53,386
150,310
Auditors remuneration
10,250
9,750
Depreciation of tangible fixed assets
103,636
118,303
Operating lease charges
566,285
623,047
5
Director's remuneration

No remuneration was paid to the director.

6
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Delivery
176
237
Administration
51
42
Management
17
8
Total
244
287

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
12,115,604
14,903,068
Social security costs
1,571,237
1,680,909
Pension costs
868,943
706,522
14,555,783
17,290,499
PRIME MEDICA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
6
Employees
(Continued)
- 16 -

The salary cost disclosed is the full UK payroll of the group to which this entity belongs, of which an appropriate recharge is made for the time spent by those individuals working for other companies within the group.

7
Taxation
2025
2024
£
£
Current tax
Group relief on profits for the current period
(399,080)
140,299
Adjustments in respect of prior periods
428
279
Deferred tax
Origination and reversal of timing differences
(17,073)
(16,296)
Adjustment in respect of prior periods
32
(2,537)
Total deferred tax
(17,041)
(18,833)
Total tax (credit)/charge
(354,815)
121,745

The actual (credit)/charge for the year can be reconciled to the expected (credit)/charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
(Loss)/profit before taxation
(1,490,067)
447,194
Expected tax (credit)/charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
(372,517)
111,799
Tax effect of expenses that are not deductible in determining taxable profit
17,242
10,951
Adjustments in respect of prior years
460
(2,258)
Fixed asset differences
-
0
1,253
Taxation (credit)/charge for the year
(354,815)
121,745
8
Dividends
2025
2024
£
£
Final paid
-
0
570,720
PRIME MEDICA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 17 -
9
Tangible fixed assets
Short leasehold improvements
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 January 2025
267,529
214,946
956,213
1,438,688
Additions
-
0
-
0
29,010
29,010
At 31 December 2025
267,529
214,946
985,223
1,467,698
Depreciation and impairment
At 1 January 2025
252,573
196,884
759,168
1,208,625
Depreciation charged in the year
1,496
4,513
97,627
103,636
At 31 December 2025
254,069
201,397
856,795
1,312,261
Carrying amount
At 31 December 2025
13,460
13,549
128,428
155,437
At 31 December 2024
14,956
18,062
197,045
230,063
10
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,866,853
2,313,073
Corporation tax recoverable
8,163
150,346
Amounts owed by group undertakings
12,820,531
13,899,079
Other debtors
201,430
143,904
Prepayments and accrued income
388,075
539,344
15,285,052
17,045,746

Amounts owed by group undertakings are interest free and repayable on demand.

Included in prepayments and accrued income is an amount relating to accrued income of £96,179 (2024: £224,997).

Included in amounts owed from group undertakings is an amount relating to group relief on corporation tax of £118,054 (2024: £140,299 included in amount owed to group undertakings).

PRIME MEDICA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 18 -
11
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
395,478
1,176,033
Amounts owed to group undertakings
10,760,280
9,421,351
Taxation and social security
7,706
13,619
Other creditors
99,910
123,311
Accruals and deferred income
1,444,575
2,007,443
12,707,949
12,741,757

Amounts owed to group undertakings are interest free and repayable on demand.

Included in accruals and deferred income is an amount relating to deferred income of £316,056 (2024: £1,157,576).

12
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
33,960
51,625
Short term timing differences
(25,945)
(26,569)
8,015
25,056
2025
Movements in the year:
£
Liability at 1 January 2025
25,056
Credit to profit or loss
(17,041)
Liability at 31 December 2025
8,015
13
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
50,000
50,000
50,000
50,000

The company has one class of ordinary shares. There are no restrictions on the distribution of dividends and repayment of capital. The holders of ordinary shares are entitled to receive dividends as declared and are entitled to one vote per share at meetings of the company.

PRIME MEDICA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 19 -
14
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
868,943
706,522

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

At the balance sheet date, contributions amounting to £103,778 (2024 £107,431) were payable to the fund and are included in creditors.

15
Profit and loss reserves

The Company's capital and reserves are as follows:

Share capital

Called up share capital reserve represents the nominal value of the shares issued.

Profit and loss account

The profit and loss account represents cumulative profits or losses net of Ordinary dividends declared and other adjustments.

16
Financial commitments, guarantees and contingent liabilities

The company's present and future assets are subject to a fixed and floating charge in favour of GLAS Trust Corporation Limited in respect of certain borrowings of a fellow group compan y, Moonbeam Bidco Ltd. At 31 December 202 5, the net borrowings encompassed by the charges amounted to £56,011,221 (2024: £52,855,834).

17
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within one year
464,872
556,323
Between two and five years
1,062,885
1,131,769
In over five years
158,000
395,000
1,685,757
2,083,092
Lessor

At the reporting end date the company had contracted with tenants for the following minimum lease payments:

2025
2024
£
£
Within one year
1,987
-
0
PRIME MEDICA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 20 -
18
Related party transactions

The company has taken advantage of the exemption available in Section 33.1A of FRS 102, whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertakings of the group.

Loans and transactions concerning directors and officers of the company

Included within other creditors is a directors loan account of £79 (2024: £79). The loan account is interest free and the maximum outstanding during the year was £79 (2024: £79).

During the year, the group paid rental charges of £237,000 (2024: £237,000) for the use of a property which is held in an EPUT pension scheme. G E Peterson is the trustee of the pension scheme. At the current and preceding balance sheet dates no balance was owed to or from the EPUT pension scheme.

19
Ultimate controlling party

The company's immediate parent undertaking is Prime Global Medical Communications Ltd, a company incorporated in England and Wales and registered at Mere House, Brook Street, Knutsford, Cheshire, WA16 8GP.

The smallest group in which this company's results are consolidated is that headed by Prime Global Medical Communications Ltd. The consolidated accounts are available from Companies house, Crown Way, Cardiff, CF14 3UZ.

The largest group in which this company's results are consolidated is that headed by Moonbeam Topco Ltd. The consolidated accounts are available from Companies house, Crown Way, Cardiff, CF14 3UZ.

The company's ultimate parent undertaking and controlling party is considered to be Levine Leichtman Capital Partners Europe II SCSP, Sarl, a company registered in Luxembourg.

2025-12-31 2025-01-01 false false false CCH Software CCH Accounts Production 2026.100 S Jenkins G E Peterson 03452110 2025-01-01 2025-12-31 03452110 bus:Director2 2025-01-01 2025-12-31 03452110 bus:Director1 2025-01-01 2025-12-31 03452110 bus:RegisteredOffice 2025-01-01 2025-12-31 03452110 2025-12-31 03452110 2024-01-01 2024-12-31 03452110 core:RetainedEarningsAccumulatedLosses 2024-12-31 03452110 core:RetainedEarningsAccumulatedLosses 2023-12-31 03452110 core:ShareCapital 2025-12-31 03452110 core:ShareCapital 2024-12-31 03452110 core:RetainedEarningsAccumulatedLosses 2025-12-31 03452110 core:RetainedEarningsAccumulatedLosses 2024-12-31 03452110 2024-12-31 03452110 core:ShareCapitalOrdinaryShareClass1 2025-12-31 03452110 core:ShareCapitalOrdinaryShareClass1 2024-12-31 03452110 core:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 03452110 core:LeaseholdImprovements 2025-12-31 03452110 core:FurnitureFittings 2025-12-31 03452110 core:ComputerEquipment 2025-12-31 03452110 core:LandBuildings 2024-12-31 03452110 core:FurnitureFittings 2024-12-31 03452110 core:ComputerEquipment 2024-12-31 03452110 core:WithinOneYear 2025-12-31 03452110 core:WithinOneYear 2024-12-31 03452110 core:CurrentFinancialInstruments core:WithinOneYear 2025-12-31 03452110 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 03452110 core:LandBuildings core:LongLeaseholdAssets 2025-01-01 2025-12-31 03452110 core:FurnitureFittings 2025-01-01 2025-12-31 03452110 core:ComputerEquipment 2025-01-01 2025-12-31 03452110 core:UKTax 2024-01-01 2024-12-31 03452110 1 2024-01-01 2024-12-31 03452110 core:UKTax 2025-01-01 2025-12-31 03452110 1 2025-01-01 2025-12-31 03452110 core:LandBuildings core:LeasedAssetsHeldAsLessee 2024-12-31 03452110 core:FurnitureFittings 2024-12-31 03452110 core:ComputerEquipment 2024-12-31 03452110 2024-12-31 03452110 core:LandBuildings core:LeasedAssetsHeldAsLessee 2025-12-31 03452110 core:LandBuildings core:LeasedAssetsHeldAsLessee 2025-01-01 2025-12-31 03452110 core:CurrentFinancialInstruments 2025-12-31 03452110 core:CurrentFinancialInstruments 2024-12-31 03452110 bus:OrdinaryShareClass1 2025-01-01 2025-12-31 03452110 bus:OrdinaryShareClass1 2025-12-31 03452110 bus:OrdinaryShareClass1 2024-12-31 03452110 core:BetweenTwoFiveYears 2025-12-31 03452110 core:BetweenTwoFiveYears 2024-12-31 03452110 core:MoreThanFiveYears 2025-12-31 03452110 core:MoreThanFiveYears 2024-12-31 03452110 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 03452110 bus:FRS102 2025-01-01 2025-12-31 03452110 bus:Audited 2025-01-01 2025-12-31 03452110 bus:FullAccounts 2025-01-01 2025-12-31 xbrli:pure xbrli:shares iso4217:GBP