Company No: 08243684 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Claire Louise Nicholson
	Darren Kevin Small

REGISTERED OFFICE	Ashbrow
	Sidehead
	Westgate
	DL13 1LE
	United Kingdom

COMPANY NUMBER

08243684 (England and Wales)

ACCOUNTANT	Inglis Chartered Accountants
	Wellington House
	Aviator Court
	York
	YO30 4UZ
	United Kingdom

	Note	2026		2025
		£		£
Fixed assets
Intangible assets	3	42,000		48,000
Tangible assets	4	865		1,154
		42,865		49,154
Current assets
Debtors	5	5,476		23,045
Investments	6	10,000		10,000
Cash at bank and in hand	7	8,045		17,595
		23,521		50,640
Creditors: amounts falling due within one year	8	( 41,511)		( 62,881)
Net current liabilities		(17,990)		(12,241)
Total assets less current liabilities		24,875		36,913
Creditors: amounts falling due after more than one year	9	( 18,821)		( 4,905)
Net assets		6,054		32,008
Capital and reserves
Called-up share capital	10	1		1
Profit and loss account		6,053		32,007
Total shareholder's funds		6,054		32,008

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

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge 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 Biopharma Research Ltd (registered number: 08243684) were approved and authorised for issue by the Board of Directors on 19 August 2026. They were signed on its behalf by:

Claire Louise Nicholson Director

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

Biopharma Research Ltd (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 Ashbrow, Sidehead, Westgate, DL13 1LE, 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 Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the 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 except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

10 years straight line

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 etc.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 April 2025	60,000		60,000
At 31 March 2026	60,000		60,000
Accumulated amortisation
At 01 April 2025	12,000		12,000
Charge for the financial year	6,000		6,000
At 31 March 2026	18,000		18,000
Net book value
At 31 March 2026	42,000		42,000
At 31 March 2025	48,000		48,000

4. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 April 2025	3,329		3,329
At 31 March 2026	3,329		3,329
Accumulated depreciation
At 01 April 2025	2,175		2,175
Charge for the financial year	289		289
At 31 March 2026	2,464		2,464
Net book value
At 31 March 2026	865		865
At 31 March 2025	1,154		1,154

5. Debtors

	2026		2025
	£		£
Trade debtors	5,476		23,045

6. Current asset investments

	2026		2025
	£		£
Other investments – at cost less impairment	10,000		10,000

7. Cash and cash equivalents

	2026		2025
	£		£
Cash at bank and in hand	8,045		17,595

8. Creditors: amounts falling due within one year

	2026		2025
	£		£
Bank loans	6,000		25,872
Trade creditors	50		101
Taxation and social security	18,060		28,297
Other creditors	17,401		8,611
	41,511		62,881

9. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Bank loans	18,821		4,905

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

10. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 0.01 each	1		1