REGISTERED NUMBER: 10078288 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2025

for

Medrx Pharmaceuticals Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M B Hornung

C W L Chaston

SECRETARY:

M B Hornung

REGISTERED OFFICE:

9 St George's Yard

Castle Street

Farnham

Surrey

GU9 7LW

REGISTERED NUMBER:

10078288 (England and Wales)

ACCOUNTANTS:

Blackwood Futcher & Co.

Chartered Accountants

9 St George's Yard

Farnham

Surrey

GU9 7LW

FIXED ASSETS

Tangible assets

4

1,949

3,652

CURRENT ASSETS

Stocks

786,402

162,188

Debtors

5

937,711

1,181,721

Cash at bank

5,946

150,173

1,730,059

1,494,082

CREDITORS

Amounts falling due within one year

6

1,714,270

1,448,228

NET CURRENT ASSETS

15,789

45,854

TOTAL ASSETS LESS CURRENT LIABILITIES

17,738

49,506

PROVISIONS FOR LIABILITIES

487

913

NET ASSETS

17,251

48,593

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

17,249

48,591

SHAREHOLDERS' FUNDS

17,251

48,593

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 30 October 2026 and were signed on its behalf by:

C W L Chaston - Director

1.	STATUTORY INFORMATION

Medrx Pharmaceuticals 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for the sale of pharmaceutical goods, stated net of discounts and of Value Added Tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity.

Tangible fixed assets

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

Computer equipment

-

25% on cost

Stocks

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

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable 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 profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

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, 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.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

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.

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Stocks are also assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of stock or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2024

10,891

Additions

166

At 31 October 2025

11,057

DEPRECIATION

At 1 November 2024

7,239

Charge for year

1,869

At 31 October 2025

9,108

NET BOOK VALUE

At 31 October 2025

1,949

At 31 October 2024

3,652

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

£

Trade debtors

663,377

906,268

Other debtors

274,334

275,453

937,711

1,181,721

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

£

Trade creditors

1,261,296

909,849

Amounts owed to group undertakings

238,149

67,099

Taxation and social security

60,337

308,851

Other creditors

154,488

162,429

1,714,270

1,448,228

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2025 and 31 October 2024:

31.10.25

31.10.24

£

£

C W L Chaston

Balance outstanding at start of year

232,722

145,241

Amounts advanced

-

117,300

Amounts repaid

(7,140

)

(29,819

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

225,582

232,722

M B Hornung

Balance outstanding at start of year

138

138

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

138

138

The maximum amount outstanding during the year and due to the company by CWL Chaston was £232,722. No interest was paid during the year on this balance.

8.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed an amount of £238,149 (2024 £67,099) to Medrx Licences Limited, a company in which the directors hold a material interest.

During the year under review the company paid dividends totalling £Nil (2024 £20,000) to Medrx Licences Limited, a company in which the directors hold a material interest.