Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3172023-01-01false6The principal activity of the Company is the research and development of novel approaches to Natural Killer (NK) cell-mediated immunotherapy. The company develops both cell therapy and small molecule therapeutics primarily targeting cancer, enabling physicians to target cancer more effectively.truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12479455 2023-01-01 2023-12-31 12479455 2022-01-01 2022-12-31 12479455 2023-12-31 12479455 2022-12-31 12479455 1 2023-01-01 2023-12-31 12479455 d:Director3 2023-01-01 2023-12-31 12479455 c:CurrentFinancialInstruments 2023-12-31 12479455 c:CurrentFinancialInstruments 2022-12-31 12479455 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 12479455 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 12479455 c:ShareCapital 2023-12-31 12479455 c:ShareCapital 2022-12-31 12479455 c:SharePremium 2023-12-31 12479455 c:SharePremium 2022-12-31 12479455 c:RetainedEarningsAccumulatedLosses 2023-12-31 12479455 c:RetainedEarningsAccumulatedLosses 2022-12-31 12479455 d:OrdinaryShareClass1 2023-01-01 2023-12-31 12479455 d:OrdinaryShareClass1 2023-12-31 12479455 d:OrdinaryShareClass2 2023-01-01 2023-12-31 12479455 d:OrdinaryShareClass2 2023-12-31 12479455 d:OrdinaryShareClass3 2023-01-01 2023-12-31 12479455 d:OrdinaryShareClass3 2023-12-31 12479455 d:OrdinaryShareClass4 2023-01-01 2023-12-31 12479455 d:OrdinaryShareClass4 2023-12-31 12479455 d:FRS102 2023-01-01 2023-12-31 12479455 d:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12479455 d:FullAccounts 2023-01-01 2023-12-31 12479455 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12479455 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 12479455









NK:IO LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
NK:IO LTD
REGISTERED NUMBER: 12479455

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 4 
155,596
24,088

Cash at bank and in hand
  
313,996
516,448

  
469,592
540,536

Creditors: amounts falling due within one year
 5 
(112,958)
(278,502)

NET CURRENT ASSETS
  
 
 
356,634
 
 
262,034

  

NET ASSETS
  
356,634
262,034


CAPITAL AND RESERVES
  

Called up share capital 
 6 
-
-

Share premium account
  
3,170,405
1,985,408

Profit and loss account
  
(2,813,771)
(1,723,374)

  
356,634
262,034

Page 1

 
NK:IO LTD
REGISTERED NUMBER: 12479455
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M A Romanos
Director

Date: 31 July 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
NK:IO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


GENERAL INFORMATION

NK:IO Ltd is a private company limited by shares and was incorporated in England and Wales on 24 February 2020. The registered office address is Mishcon De Reya, Africa House, 70 Kingsway, London, WC2B 6AH.
The functional and presentational currency is GBP. 

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The financial statements have been prepared on the going concern basis which assumes that the Company will continue as a going concern for the foreseeable future. The trading losses reported to date are consistent with the Company's business plan as it progresses its research and development activities.
Given the investment received, together with the development progress achieved, the directors have a reasonable expectation that the Company will be able to meet its liabilities as they fall due for the foreseeable future and therefore continue to adopt the going concern basis.

 
2.3

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
NK:IO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

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.

 
2.5

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

RESEARCH AND DEVELOPMENT

Research and development expenditure is recognised in the Profit and Loss Account in the period in which the expenditure is incurred.

 
2.8

TAXATION

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 balance sheet 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 Balance Sheet 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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
NK:IO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


EMPLOYEES



The average monthly number of employees, including directors, during the year was 7 (2022 - 6).


4.


DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£


Other debtors
39,191
13,929

Prepayments and accrued income
116,405
10,159

155,596
24,088



5.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Trade creditors
34,898
27,751

Other taxation and social security
-
4,500

Accruals and deferred income
78,060
246,251

112,958
278,502


Page 5

 
NK:IO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1,249,569 (2022 - 1,359,483) Ordinary shares of £0.000000001 each
-
-
360,309 (2022 - 278,450) T Ordinary shares of £0.000000001 each
-
-
1,942,798 (2022 - 1,249,158) Seed shares of £0.000000001 each
-
-
109,914 (2022 - Nil) Deferred shares of £0.000000001 each
-
-

-

-

On 19 May 2023, the company issued 693,640 £0.000000001 Seed shares each at a rate of £1.73 per share.
On 19 May 2023, the company issued 81,859 £0.000000001 T Ordinary shares at par value. 
On 17 July 2023 109,914 Ordinary shares of £0.000000001 were reclassified as 109,914 Deferred shares of £0.000000001.
The aggregrate nominal value of the above issued shares is £0.00366259.



7.


POST BALANCE SHEET EVENTS

In May 2024 the Company issued 442,197 Ordinary shares of £0.000000001 each for total consideration of £765,000.

 
Page 6