| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2025 |
| for |
| Targetgrange Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2025 |
| for |
| Targetgrange Limited |
| Targetgrange Limited (Registered number: 01669601) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Targetgrange Limited |
| Company Information |
| for the Year Ended 31 December 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants (ICAEW) |
| Brunel House |
| 11 The Promenade |
| Clifton Down |
| Bristol |
| BS8 3NG |
| Targetgrange Limited (Registered number: 01669601) |
| Balance Sheet |
| 31 December 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| Investment properties | 7 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 8 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 10 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | 12 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 13 |
| Non distributable reserves | 14 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Targetgrange Limited (Registered number: 01669601) |
| Balance Sheet - continued |
| 31 December 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Targetgrange Limited (Registered number: 01669601) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2025 |
| 1. | STATUTORY INFORMATION |
| Targetgrange Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about Targetgrange Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Targetgrange (Holdings) Limited, . |
| 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 |
| The Goodwill arising represents the excess of the consideration given over the fair value of the net tangible assets acquired. Goodwill has being written off over 3 years, which was estimated to be its useful economic life by the directors. |
| 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 |
| Freehold property | - |
| Leasehold property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Investment properties |
| In accordance with Section 16 of FRS 102, the investment properties are revalued annually and the aggregate surplus or deficit is recognised within the Income Statement and then transferred to non-distributable reserves. No depreciation is provided in respect of investment properties. |
| The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with Section 16 of FRS 102. The directors consider that, because this property is not held for consumption , but for its investment potential, to depreciate it would not give a true and fair view and that it is necessary to adopt Section 16 of FRS 102 in order to give a true and fair view. |
| If this departure from the Act had not been made, the profit for the financial year would have been reduced by depreciation. However, the amount of depreciation cannot reasonably be quantified , because depreciation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Targetgrange Limited (Registered number: 01669601) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| 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. |
| Group accounts |
| It is the policy of the company to take advantage of Financial Reporting Standard 2 and exclude consolidation of its non-trading subsidiaries on the grounds that this would have an immaterial effect on the consolidated accounts. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 January 2025 |
| and 31 December 2025 |
| AMORTISATION |
| At 1 January 2025 |
| and 31 December 2025 |
| NET BOOK VALUE |
| At 31 December 2025 |
| At 31 December 2024 |
| Targetgrange Limited (Registered number: 01669601) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2025 |
| 5. | TANGIBLE FIXED ASSETS |
| Freehold | Leasehold | Plant and |
| property | property | machinery |
| £ | £ | £ |
| COST |
| At 1 January 2025 |
| Additions |
| At 31 December 2025 |
| DEPRECIATION |
| At 1 January 2025 |
| Charge for year |
| At 31 December 2025 |
| NET BOOK VALUE |
| At 31 December 2025 |
| At 31 December 2024 |
| Fixtures |
| and | Motor |
| fittings | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2025 |
| Additions |
| At 31 December 2025 |
| DEPRECIATION |
| At 1 January 2025 |
| Charge for year |
| At 31 December 2025 |
| NET BOOK VALUE |
| At 31 December 2025 |
| At 31 December 2024 |
| Included in cost of land and buildings is freehold land of £ 114,341 (2024 - £ 114,341 ) which is not depreciated. |
| Included within Motor Vehicles are assets of £80,638, which were acquired during the year ended 31 December 2022 under a hire purchase finance agreement. These Motor Vehicles have a net book value of £25,514 (2024: £34,019). |
| Targetgrange Limited (Registered number: 01669601) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2025 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 January 2025 |
| and 31 December 2025 |
| DEPRECIATION |
| At 1 January 2025 |
| Charge for year |
| At 31 December 2025 |
| NET BOOK VALUE |
| At 31 December 2025 |
| At 31 December 2024 |
| 6. | FIXED ASSET INVESTMENTS |
| Unlisted |
| investments |
| £ |
| COST |
| At 1 January 2025 |
| and 31 December 2025 |
| NET BOOK VALUE |
| At 31 December 2025 |
| At 31 December 2024 |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Registered office: |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2025 | 2024 |
| £ | £ |
| Aggregate capital and reserves |
| 7. | INVESTMENT PROPERTIES |
| Total |
| £ |
| FAIR VALUE |
| At 1 January 2025 |
| and 31 December 2025 |
| NET BOOK VALUE |
| At 31 December 2025 |
| At 31 December 2024 |
| Targetgrange Limited (Registered number: 01669601) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2025 |
| 7. | INVESTMENT PROPERTIES - continued |
| Fair value at 31 December 2025 is represented by: |
| £ |
| Valuation in 2018 | 513,693 |
| Valuation in 2019 | 65,430 |
| Cost | 485,877 |
| 1,065,000 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 2025 | 2024 |
| £ | £ |
| Cost | 485,877 | 485,877 |
| Investment property was valued on an open market basis on 12 March 2020 by an independent third party valuer . |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Staff loan | 11,400 | - |
| Other debtors |
| Directors' loan accounts | 217,754 | - |
| Prepayments and accrued income |
| The Directors Loan Account was repaid within 9 months of the year end. |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Current corporation tax |
| Social security and other taxes |
| Other creditors |
| Loan - Targetgrange |
| Investments Ltd | 315,407 | - |
| Directors' loan accounts | - | 242,678 |
| Accruals and deferred income |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| Targetgrange Limited (Registered number: 01669601) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2025 |
| 11. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| The bank loan and overdraft are secured by legal mortgages over the company's Freehold, Leasehold and Investment properties, together with a mortgage debenture including a fixed charge over the company's book debts and a floating charge over the company's other assets. |
| 12. | PROVISIONS FOR LIABILITIES |
| 2025 | 2024 |
| £ | £ |
| Deferred tax | 170,800 | 176,514 |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2025 |
| Accelerated capital allowances | (5,714 | ) |
| Revaluation |
| Balance at 31 December 2025 |
| 13. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary Shares | £1 | 5,000 | 5,000 |
| 14. | RESERVES |
| Non |
| distributable |
| reserves |
| £ |
| At 1 January 2025 |
| and 31 December 2025 |
| 15. | CONTINGENT LIABILITIES |
| The company has given intercompany guarantees to Ask Pharmaceuticals Limited and Targetgrange Investments Limited. These companies are described in more detail in note 19. |
| 16. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| Within debtors due with one year, there is a directors loan account as at 31 December 2025 of £217,753 (2024: £242,678 within creditors due within one year). This is a joint directors loan account between all four directors of the Company. The balance was repaid by the directors within 9 months of the year end. |
| Targetgrange Limited (Registered number: 01669601) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2025 |
| 17. | RELATED PARTY DISCLOSURES |
| The company leases the premises at 36 Denmark Hill, Camberwell, London which is occupied by one of the company branches, from a Group SSAS Pension Scheme in names of the directors: |
| Mr D A Patel |
| Mr K A Patel |
| Mr N A Patel |
| Mr M A Patel |
| The SSAS is with the Targetgrange Executive Pension Scheme administered by James Hay Partnership. |
| Rent paid on this lease amounted to £32,500 (2024 - £32,500). |
| The company leases the premises at 204 Walworth, Road, London which is occupied by one of the company branches, from a Group SSAS Pension Scheme in names of the directors: |
| Mr D A Patel |
| Mr K A Patel |
| Mr N A Patel |
| Mr M A Patel |
| The SSAS is with the Targetgrange Executive Pension Scheme administered by James Hay Partnership. |
| Rent paid on this lease amounted to £65,000 (2024 - £65,000). |
| Ask Pharmaceuticals Limited |
| Non trading subsidiary. |
| At the year end there was a balance due to Targetgrange Limited of £nil (2024: £nil). |
| Targetgrange Investments Limited |
| A fellow subsidiary of Targetgrange (Holdings) Limited |
| At the year end there was a balance due to from company of £315,407 (2024: £nil) and this amount is included under creditors. |
| Targetgrange (Holdings) Limited |
| Parent Company |
| At the year end there was a balance due from this company of £nil (2024 - £nil). In addition the company paid a dividend to its parent in the year of £110,000 (2024 - £110,000). |
| 18. | POST BALANCE SHEET EVENTS |
| No significant post balance sheet events have arisen at the date of signing the report. |
| 19. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |