REGISTERED NUMBER: 16234269 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 6 FEBRUARY 2025 TO 31 DECEMBER 2025

FOR

ASPARGO UK LTD

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

P S Shah

Michael Demurjian

REGISTERED OFFICE:

2 Cabot House

Compass Point Business Park

St Ives

United Kingdom

PE27 5JL

REGISTERED NUMBER:

16234269 (England and Wales)

ACCOUNTANTS:

B&P Tax Legal Finance LLP

38 Craven Street

London

WC2N 5NG

The directors present their report with the financial statements of the company for the period 6 February 2025 to 31 December 2025.

INCORPORATION

The company was incorporated on 6 February 2025 .

PRINCIPAL ACTIVITY

The principal activity of the company in the period under review was that of wholesale and distribution of pharmaceutical products.

DIRECTORS

The directors who have held office during the period from 6 February 2025 to the date of this report are as follows:

E M Maza - appointed 6 February 2025 - resigned 5 September 2025

P S Shah - appointed 21 February 2025

Michael Demurjian - appointed 20 August 2025

Both the directors who are eligible offer themselves for election at the forthcoming first Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

P S Shah - Director

14 September 2026

TURNOVER

-

Administrative expenses

(667,150

)

OPERATING LOSS

4

(667,150

)

Interest payable and similar expenses

(135

)

LOSS BEFORE TAXATION

(667,285

)

Tax on loss

-

LOSS FOR THE FINANCIAL PERIOD

(667,285

)

FIXED ASSETS

Tangible assets

5

280

CURRENT ASSETS

Debtors

6

6,287

CREDITORS

Amounts falling due within one year

7

(673,752

)

NET CURRENT LIABILITIES

(667,465

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(667,185

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(667,285

)

(667,185

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 14 September 2026 and were signed on its behalf by:

P S Shah - Director

1.	STATUTORY INFORMATION

Aspargo Uk Ltd 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.

The financial statements are presented in pouds sterling (£), which is the company's functional and presentation currency.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Tangible fixed assets

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

Computer - 25% on cost

Financial instruments

Financial assets

The company's financial assets comprise basic financial instruments, being trade and other receivables, amounts owed by group undertakings, cash and bank balances.

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of no more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months or less from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Trade, other receivable and amounts owed by group undertakings are measured at transaction price less any impairment. Any impairment loss is recognised in the Profit and Loss.

Financial assets are derecognised when contractual rights to the cash flows from the financial asset expires or are settled, or when substantially all the risks and rewards of ownership have been transferred.

Financial liabilities

The company's financial liabilities comprise of basic financial liabilities, including trade and other payables. These are initially recognised at transaction price.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled, or expires.

Taxation

Taxation for the period 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 period 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Going concern

The directors of the company have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the directors' report and financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 .

4.	OPERATING LOSS

The operating loss is stated after charging:

£

Depreciation - owned assets

19

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

299

At 31 December 2025

299

DEPRECIATION

Charge for period

19

At 31 December 2025

19

NET BOOK VALUE

At 31 December 2025

280

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

6,287

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

6,336

Amounts owed to group undertakings

624,427

Taxation and social security

36,555

Other creditors

6,434

673,752

8.	ULTIMATE CONTROLLING PARTY

The controlling company is Aspargo Laboratories Inc.

The parent company is Aspargo Lab Italia Srl. A company registred in Italy.