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Company No: 03656605 (England and Wales)

# BIOPHARM SERVICES LIMITED

### Unaudited Financial Statements
For the financial year ended 31 December 2025
Pages for filing with the registrar

BIOPHARM SERVICES LIMITED

## Unaudited Financial Statements

For the financial year ended 31 December 2025

Contents

BIOPHARM SERVICES LIMITED

## COMPANY INFORMATION

For the financial year ended 31 December 2025
BIOPHARM SERVICES LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 31 December 2025

DIRECTOR | P A Sinclair

REGISTERED OFFICE | 22 Wycombe End
| Beaconsfield
| HP9 1NB
| United Kingdom

COMPANY NUMBER | 03656605 (England and Wales)

ACCOUNTANT | S&W Partners (Thames Valley) Limited
| 22 Wycombe End
| Beaconsfield
| Buckinghamshire
| HP9 1NB

BIOPHARM SERVICES LIMITED

## BALANCE SHEET

As at 31 December 2025
BIOPHARM SERVICES LIMITED

## BALANCE SHEET (continued)

As at 31 December 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 38,456 |  | 56,330
Investment property | 4 | 450,000 |  | 450,000
|  | 488,456 |  | 506,330
Current assets |  |  |  |
Debtors | 5 | 404,321 |  | 323,385
Cash at bank and in hand |  | 773,387 |  | 666,174
|  | 1,177,708 |  | 989,559
Creditors: amounts falling due within one year | 6 | ( 162,536) |  | ( 75,831)
Net current assets |  | 1,015,172 |  | 913,728
Total assets less current liabilities |  | 1,503,628 |  | 1,420,058
Creditors: amounts falling due after more than one year | 7 | 0 |  | ( 20,651)
Net assets |  | 1,503,628 |  | 1,399,407
Capital and reserves |  |  |  |
Called-up share capital | 8 | 8,400 |  | 8,400
Share premium account |  | 29,390 |  | 29,390
Capital redemption reserve |  | 5,350 |  | 5,350
Profit and loss account |  | 1,460,488 |  | 1,356,267
Total shareholders' funds |  | 1,503,628 |  | 1,399,407

For the financial year ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Biopharm Services Limited (registered number: 03656605) were approved and authorised for issue by the Director on 09 August 2026. They were signed on its behalf by:

P A Sinclair Director |

BIOPHARM SERVICES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2025
BIOPHARM SERVICES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Biopharm Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 22 Wycombe End, Beaconsfield, HP9 1NB, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The functional currency of Biopharm Services Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

##### Going concern

The financial statements have been prepared on a going concern basis.
The director has made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise on monetary items.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery | 4 years straight line
Vehicles | 25 % reducing balance
Fixtures and fittings | 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
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.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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 including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments 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.
Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

##### Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the Company will comply with conditions attaching to them and the grants will be received.
A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as deferred income.

##### Research and Development

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 9 |  | 10

#### 3. Tangible assets

| Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 January 2025 | 61,903 |  | 84,588 |  | 20,361 |  | 166,852
Additions | 7,147 |  | 0 |  | 5,475 |  | 12,622
At 31 December 2025 | 69,050 |  | 84,588 |  | 25,836 |  | 179,474
Accumulated depreciation |  |  |  |  |  |  |
At 01 January 2025 | 53,378 |  | 42,250 |  | 14,894 |  | 110,522
Charge for the financial year | 4,876 |  | 23,253 |  | 2,367 |  | 30,496
At 31 December 2025 | 58,254 |  | 65,503 |  | 17,261 |  | 141,018
Net book value |  |  |  |  |  |  |
At 31 December 2025 | 10,796 |  | 19,085 |  | 8,575 |  | 38,456
At 31 December 2024 | 8,525 |  | 42,338 |  | 5,467 |  | 56,330

#### 4. Investment property

| Investment property
| £
Valuation |
As at 01 January 2025 | 450,000
As at 31 December 2025 | 450,000

Investment property comprises property held to earn rental income and capital appreciation. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors at the balance sheet date.
The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 338,847 |  | 305,875
Corporation tax | 34,789 |  | 1,745
Other debtors | 30,685 |  | 15,765
| 404,321 |  | 323,385

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 14,841 |  | 4,585
Other taxation and social security | 24,489 |  | 17,598
Obligations under finance leases and hire purchase contracts | 20,651 |  | 3,770
Other creditors | 102,555 |  | 49,878
| 162,536 |  | 75,831

#### 7. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Obligations under finance leases and hire purchase contracts | 0 |  | 20,651

There are no amounts included above in respect of which any security has been given by the small entity.

#### 8. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
60,000 Ordinary A Shares shares of £ 0.10 each | 6,000 |  | 6,000
20,000 Ordinary B Shares shares of £ 0.10 each | 2,000 |  | 2,000
4,000 Ordinary C Shares shares of £ 0.10 each | 400 |  | 400
| 8,400 |  | 8,400

#### 9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

| 2025 |  | 2024
| £ |  | £
within one year | 42,167 |  | 57,552
between one and five years | 104,000 |  | 11,949
after five years | 99,667 |  | 125,667
Total future minimum lease payments under non-cancellable operating leases | 245,834 |  | 195,168