ACCOUNTS - Final Accounts preparation

An analysis of turnover by class of business is as follows:

Registered number: 04038272

A.R.G.C. LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

A.R.G.C. LIMITED

COMPANY INFORMATION

Directors	Mr. Mohamed Taranissi FRCOG
	Elvina Fincham


Company secretary	E Fincham


Registered number	04038272


Registered office	124 Finchley Road
	London
	NW3 5JS


Independent auditors	Nyman Libson Paul LLP
	Chartered Accountants & Registered Auditors
	124 Finchley Road
	London
	NW3 5JS

A.R.G.C. LIMITED

CONTENTS

	Page
Strategic Report	1
Directors' Report	2 - 3
Independent Auditors' Report	4 - 6
Statement of Comprehensive Income	7
Statement of Financial Position	8
Statement of Changes in Equity	9
Notes to the Financial Statements	10 - 22

A.R.G.C. LIMITED

STRATEGIC REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

Introduction

The directors present the strategic report for the year ended 31 August 2025

Business review

The company's turnover was £18.8 million and operating profit decreased from £6.4 million to £5.5 million. At the reporting date the company has net current assets of £16,986,726 (2024: £12,528,126).

Principal risks and uncertainties

The directors' financial risk management objective is to maximise financial assets and minimise financial liabilities without engaging in speculation. The company's principal financial instruments comprise bank balances, trade creditors and trade debtors. The main risks arising from the company's financial instruments are as follows: Interest rates earned/paid on deposits and overdrafts. To manage this risk the directors manage the company's finances in such a way as to avoid bank overdraft situations and put any available funds on deposit to maximise credit interest without compromising business activities.

Financial key performance indicators

The key financial highlights are as follows: 2025 2024
Turnover £18,805,128 £19,569,307
Gross Profit £8,682,081 £9,324,597
Gross Profit Margin % 46.17% 47.65%
Operating Profit £5,519,025 £6,413,009
EBITDA £5,773,515 £6,775,995

This report was approved by the board on 5 August 2026 and signed on its behalf.

Mr. Mohamed Taranissi FRCOG

Director

Page 1

A.R.G.C. LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

The directors present their report and the financial statements for the year ended 31 August 2025.

Principal activity

The principal activity of the company continued to be that of providing reproduction and gynaecological medical services.

Directors

The directors who served during the year were:

Mr. Mohamed Taranissi FRCOG

Elvina Fincham

Results and dividends

The profit for the year, after taxation, amounted to £4,297,621 (2024 - £4,917,364).

The directors do not recommend payment of a final dividend.

Future developments

The directors aim to exercise and maintain the management policies which have benefited the company's performance and aim to continue the plans of expansion where opportunities arise.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are 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 directors are required to:

∙select suitable accounting policies for the company's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

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

The directors are 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 to enable them to ensure that the financial statements comply with the Companies Act 2006. They are 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.

The directors are responsible for the maintenance and integrity of the corporate and financial information

Page 2

A.R.G.C. LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements and other information included in Directors' Reports may differ from legislation in other jurisdictions.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Auditors

The auditors, Nyman Libson Paul LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 5 August 2026 and signed on its behalf.

Mr. Mohamed Taranissi FRCOG

Director

Page 3

A.R.G.C. LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF A.R.G.C. LIMITED

Opinion

We have audited the financial statements of A.R.G.C. Limited (the 'company') for the year ended 31 August 2025, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes, 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 ‘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 August 2025 and of its profit 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 United Kingdom, including the Financial Reporting Council'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 other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are 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.

Page 4

A.R.G.C. LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF A.R.G.C. LIMITED (CONTINUED)

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 Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Strategic Report and the Directors' Report have 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 Strategic Report or the Directors' Report.

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 directors' remuneration specified by law are not made; or

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

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page 2, 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 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 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.

Auditors' 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Page 5

A.R.G.C. LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF A.R.G.C. LIMITED (CONTINUED)

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the director that represented a risk of material misstatement due to fraud.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit

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 our 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.

Robert Maskey (Senior Statutory Auditor)

for and on behalf of

Nyman Libson Paul LLP

Chartered Accountants

Registered Auditors

124 Finchley Road

London

NW3 5JS

6 August 2026

Page 6

A.R.G.C. LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 AUGUST 2025

	2025	2024
Note	£	£


Turnover	4	18,805,128	19,569,307
Cost of sales		(10,123,047)	(10,244,597)
Gross profit		8,682,081	9,324,710
Administrative expenses		(3,163,056)	(2,911,701)
Operating profit	5	5,519,025	6,413,009
Interest receivable and similar income	8	217,338	163,052
Interest payable and similar expenses	9	(6,536)	(22,750)
Profit before tax		5,729,827	6,553,311
Tax on profit	10	(1,432,206)	(1,635,947)
Profit for the financial year		4,297,621	4,917,364

The notes on pages 10 to 22 form part of these financial statements.

Page 7

A.R.G.C. LIMITED

REGISTERED NUMBER: 04038272

STATEMENT OF FINANCIAL POSITION

AS AT 31 AUGUST 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	11		316,947		422,596
Tangible assets	12		497,386		567,924
Investments	13		2		2
			814,335		990,522
Current assets
Stocks	14	90,817		122,904
Debtors: amounts falling due within one year	15	10,822,719		8,382,181
Bank and cash balances		9,359,004		7,220,163
		20,272,540		15,725,248
Creditors: amounts falling due within one year	16	(3,285,814)		(3,197,122)
Net current assets			16,986,726		12,528,126
Total assets less current liabilities			17,801,061		13,518,648
Provisions for liabilities
Deferred tax	17		(119,552)		(134,760)
Net assets			17,681,509		13,383,888

Capital and reserves
Called up share capital	18	1,000	1,000
Profit and loss account		17,680,509	13,382,888
		17,681,509	13,383,888

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 August 2026.

Mr. Mohamed Taranissi FRCOG

Director

The notes on pages 10 to 22 form part of these financial statements.

Page 8

A.R.G.C. LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 AUGUST 2025

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 September 2023	1,000	8,465,524	8,466,524

Profit for the year	-	4,917,364	4,917,364

At 1 September 2024	1,000	13,382,888	13,383,888

Profit for the year	-	4,297,621	4,297,621
At 31 August 2025	1,000	17,680,509	17,681,509

The notes on pages 10 to 22 form part of these financial statements.

Page 9

A.R.G.C. LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1.	General information

A.R.G.C. Limited is a private company limited by shares incorporated in England and Wales. The registered office is at 124 Finchley Road, London, NW3 5JS. The principal place of business is at 13 Upper Wimpole Street, London, W1G 6LP.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Exemption from preparing consolidated financial statements

The company itself is a subsidiary company and is exempt from the requirement to prepare consolidated financial statements by virtue of section 401 of the Companies Act 2006 on the grounds that the company and its group undertakings are included in the consolidated financial statements of ARGC Topco Limited.
The financial statements therefore present information about the company as an individual undertaking and not about its group.

2.3

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);

∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;

∙the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of ARGC Topco Limited as at 31 August 2025 and these financial statements may be obtained from 124 Finchley Road, London, NW3 5JS.

Page 10

A.R.G.C. LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.Accounting policies (continued)

2.4

Going concern

The directors have reviewed the existing funding facilities of the group and believe that adequate resources will be available for the foreseeable future with the full financial support from its parent company.

Accordingly, the directors are confident that the company and the group will continue to remain a going concern for the foreseeable future. Therefore, the going concern basis is appropriate.

2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts.
Revenue from medical services is recognised at the point at which the treatment has been administered.

2.6

Operating leases: the company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.9

Pensions

Defined contribution pension plan
The company contributes to a defined contribution plans for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Page 11

A.R.G.C. LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.Accounting policies (continued)

2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.11

Intangible assets - Goodwill

Goodwill represents the excess of the cost of acquisition of businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its remaining expected life.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 12

A.R.G.C. LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.Accounting policies (continued)

2.12

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

				Long-term leasehold property	-	over the useful life of the lease
				Fixtures, fittings and equipment	-	25% reducing balance

2.13

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.14

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated value in use to the business or estimated selling price.

2.15

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term debtors are measured at transaction price, less any impairment.

2.16

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.17

Creditors

Short term creditors are measured at the transaction price.

2.18

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

2.19

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other

Page 13

A.R.G.C. LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.Accounting policies (continued)

2.19

Financial instruments (continued)

third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the reporting date.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgments, 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:
Amortisation of goodwill
Determining the period over which goodwill is amortised requires an estimation of the value in use of the cash generating units to which goodwill has been allocated. The value in use calculation requires the entity to estimate the future cash flows expected to arise from the cash generating unit and a suitable discount rate in order to calculate present value.

	Medical services	18,805,128	19,569,307

All turnover arose within the United Kingdom.

Page 14

A.R.G.C. LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

Fees payable to the company's auditor for the audit of the company's financial statements	39,300	28,800
Depreciation of owned tangible fixed assets	143,348	136,738
Amortisation of intangible assets	105,649	66,036
Cost of stocks recognised as an expense	5,594,459	5,900,427
Other operating lease rentals	961,552	917,730

6.	Auditors' remuneration
		2025	2024
		£	£

Fees payable to the company's auditors for the audit of the company's financial statements

39,300

28,800

The company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent company.

Wages and salaries	3,285,949	3,082,974
Social security costs	359,249	343,412
Pension costs	50,263	47,994
	3,695,461	3,474,380

The average monthly number of employees, including the directors, during the year was as follows:

	2025	2024
	No.	No.

Administrative	22	22
Medical	52	50

	74	72

Page 15

A.R.G.C. LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

8.	Interest receivable
		2025	2024
		£	£

Other interest receivable

217,338

163,052

9.	Interest payable and similar expenses
		2025	2024
		£	£

Other interest payable

6,536

22,750

Corporation tax
Current tax on profits for the year	1,447,414	1,525,200
	1,447,414	1,525,200

Deferred tax
Origination and reversal of timing differences	(15,208)	110,747
Total deferred tax	(15,208)	110,747


		1,432,206	1,635,947

Page 16

A.R.G.C. LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

10.Taxation (continued)

Profit on ordinary activities before tax

5,729,827

6,553,311

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)	1,432,457	1,638,328
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	3,671	490
Capital allowances for year in excess of depreciation	1,373	1,929
Group relief	(5,295)	(4,800)
Total tax charge for the year	1,432,206	1,635,947

Page 17

A.R.G.C. LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

11.	Intangible assets

		Goodwill
		£
	Cost
	At 1 September 2024	1,320,614
	At 31 August 2025	1,320,614
	Amortisation
	At 1 September 2024	898,018
	Charge for the year on owned assets	105,649
	At 31 August 2025	1,003,667
	Net book value
	At 31 August 2025	316,947
	At 31 August 2024	422,596

Page 18

A.R.G.C. LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

12.	Tangible fixed assets

	Long-term leasehold property	Fixtures and fittings	Total
	£	£	£
Cost or valuation
At 1 September 2024	100,823	948,500	1,049,323
Additions	-	78,303	78,303
At 31 August 2025	100,823	1,026,803	1,127,626
Depreciation
At 1 September 2024	95,330	386,069	481,399
Charge for the year on owned assets	5,493	143,348	148,841
At 31 August 2025	100,823	529,417	630,240
Net book value
At 31 August 2025	-	497,386	497,386
At 31 August 2024	5,493	562,431	567,924

13.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 September 2024	2
	At 31 August 2025	2

Page 19

A.R.G.C. LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

Subsidiary undertakings
The following were subsidiary undertakings of the company:
Name	Registered office	Class of shares	Holding

	London Fertility Centre Limited	124 Finchley Road, London, NW3 5JS	Ordinary	100%
	Blue Door Fertility Limited	124 Finchley Road, London, NW3 5JS	Ordinary	80%

14.	Stocks
		2025	2024
		£	£

	Medical supplies and goods for resale	90,817	122,904

15.	Debtors: amounts falling due within one year

					2025	2024
					£	£


Trade debtors	166,495	114,147
Amounts owed by group undertakings	10,105,446	6,787,515
Other debtors	133,920	1,272,528
Prepayments	416,858	207,991
	10,822,719	8,382,181

16.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	2,151,421	1,633,048
Amounts owed to group undertakings	447,587	375,577
Corporation tax	382,991	245,810
Other taxation and social security	100,924	94,496
Other creditors	9,285	9,252
Accruals	193,606	838,939
	3,285,814	3,197,122

Page 20

A.R.G.C. LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

17.	Deferred taxation

		2025
		£
	Deferred Tax Liability
	At beginning of year	134,760
	Charged to profit or loss	(15,208)
	At end of year	119,552

The provision for deferred taxation is made up as follows:
	2025	2024
	£	£

Accelerated capital allowances

119,552

134,760

18.	Called up share capital
		2025	2024
		£	£

Allotted, called up and fully paid

1,000 Ordinary shares of £1.00 each	1,000	1,000

19.	Pension commitments

The company contributes to a defined contributions pension scheme for all qualifying employees. The assets of the schemes are held separately from those of the company in independently administered funds.
The pension cost charge represents contributions payable by the company to the funds in the financial reporting period and amounted to £50,444 (2024 - £47,994).
Contribution payable totalling £9,285 (2024 - £9,251) were outstanding at the balance sheet date and are included in creditors falling due within one year.

Page 21

A.R.G.C. LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

Not later than 1 year	795,025	795,025
Later than 1 year and not later than 5 years	2,406,840	3,180,100
Later than 5 years	746,992	768,756
	3,948,857	4,743,881

21.

Related party transactions

As the company forms part of a group for which consolidated financial statements are prepared and the results of the company are included within as part of the consolidation, the company has taken advantage of the exemptions provided by Section 33 of Financial Reporting Standard 102 from the requirement to disclose transactions undertaken or balances carried forward as at the reporting date between the company and its fellow wholly-owned group undertakings. Outstanding aggregated balances with the company's fellow wholly-owned group undertakings as at the reporting date are disclosed within notes of the financial statements.
At the reporting date, the company was owed £2,180,413 by Blue Door Fertility Limited, its subsidiary company and included within amounts owed by group undertakings. ARGC Limited has an 80% shareholding in Blue Door Fertility Limited, with the remaining 20% belonging to Adam Karim Taranissi.

22.	Controlling party

The ultimate parent company is ARGC Topco Limited, a company registered in England & Wales.
ARGC Topco Limited prepares group financial statements and copies can be obtained from 124 Finchley Road, London, NW3 5JS.

Page 22