REGISTERED NUMBER: 14604837 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

FOR

FISHGUARD PHARMA LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T W E Miles

N W Raymond

SECRETARY:

REGISTERED OFFICE:

1 & 2 Merlins Court

Haverfordwest

Pembrokeshire

SA61 1SB

REGISTERED NUMBER:

14604837 (England and Wales)

ACCOUNTANTS:

L M Griffiths & Co Limited

Chartered Certified Accountants

1&2 Merlins Court

Winch Lane

Haverfordwest

Pembrokeshire

SA61 1SB

FIXED ASSETS

Intangible assets

4

381,498

403,298

Tangible assets

5

16,732

23,972

398,230

427,270

CURRENT ASSETS

Stocks

72,328

61,208

Debtors

6

429,890

221,330

Cash at bank

29,763

133,085

531,981

415,623

CREDITORS

Amounts falling due within one year

7

565,702

518,430

NET CURRENT LIABILITIES

(33,721

)

(102,807

)

TOTAL ASSETS LESS CURRENT LIABILITIES

364,509

324,463

CREDITORS

Amounts falling due after more than one year

8

(280,144

)

(300,890

)

PROVISIONS FOR LIABILITIES

(4,183

)

(4,555

)

NET ASSETS

80,182

19,018

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

80,082

18,918

80,182

19,018

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 August 2026 and were signed on its behalf by:

T W E Miles - Director

1.	STATUTORY INFORMATION

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2024 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2024

and 30 November 2025

435,998

AMORTISATION

At 1 December 2024

32,700

Charge for year

21,800

At 30 November 2025

54,500

NET BOOK VALUE

At 30 November 2025

381,498

At 30 November 2024

403,298

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2024

and 30 November 2025

36,502

DEPRECIATION

At 1 December 2024

12,530

Charge for year

7,240

At 30 November 2025

19,770

NET BOOK VALUE

At 30 November 2025

16,732

At 30 November 2024

23,972

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

394,635

188,536

Other debtors

35,255

32,794

429,890

221,330

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

23,333

23,333

Hire purchase contracts

2,183

2,183

Trade creditors

207,381

185,504

Taxation and social security

46,769

33,666

Other creditors

286,036

273,744

565,702

518,430

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

275,278

293,610

Hire purchase contracts

4,866

7,280

280,144

300,890

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2025 and 30 November 2024:

2025

2024

£

£

T W E Miles

Balance outstanding at start of year

(55,806

)

-

Amounts advanced

5,083

-

Amounts repaid

(312

)

(55,806

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(51,035

)

(55,806

)

N W Raymond

Balance outstanding at start of year

(4,511

)

-

Amounts repaid

-

(4,511

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(4,511

)

(4,511

)