Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 08616211 Mr Gregory Mullen Mr Manfred Rüdiger Ariceum Therapeutics GmbH Robert-Rossle-Str. 10, 13125 Berlin, Germany true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08616211 2022-12-31 08616211 2023-12-31 08616211 2023-01-01 2023-12-31 08616211 frs-core:CurrentFinancialInstruments 2023-12-31 08616211 frs-core:Non-currentFinancialInstruments 2023-12-31 08616211 frs-core:BetweenOneFiveYears 2023-12-31 08616211 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 08616211 frs-core:OtherResidualIntangibleAssets 2023-12-31 08616211 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 08616211 frs-core:OtherResidualIntangibleAssets 2022-12-31 08616211 frs-core:WithinOneYear 2023-12-31 08616211 frs-core:SharePremium 2023-12-31 08616211 frs-core:ShareCapital 2023-12-31 08616211 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 08616211 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08616211 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 08616211 frs-bus:SmallEntities 2023-01-01 2023-12-31 08616211 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08616211 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08616211 1 2023-01-01 2023-12-31 08616211 frs-core:CostValuation 2022-12-31 08616211 frs-core:CostValuation 2023-12-31 08616211 frs-core:ProvisionsForImpairmentInvestments 2022-12-31 08616211 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 08616211 frs-bus:Director1 2023-01-01 2023-12-31 08616211 frs-bus:Director2 2023-01-01 2023-12-31 08616211 frs-countries:EnglandWales 2023-01-01 2023-12-31 08616211 2021-12-31 08616211 2022-12-31 08616211 2022-01-01 2022-12-31 08616211 frs-core:CurrentFinancialInstruments 2022-12-31 08616211 frs-core:Non-currentFinancialInstruments 2022-12-31 08616211 frs-core:BetweenOneFiveYears 2022-12-31 08616211 frs-core:WithinOneYear 2022-12-31 08616211 frs-core:SharePremium 2022-12-31 08616211 frs-core:ShareCapital 2022-12-31 08616211 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 08616211
Theragnostics Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Finerva
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08616211
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 302,331 823,940
Investments 5 1 1
302,332 823,941
CURRENT ASSETS
Debtors 6 4,362,743 3,297,242
Cash at bank and in hand 521,638 284,150
4,884,381 3,581,392
Creditors: Amounts Falling Due Within One Year 7 (481,430 ) (554,154 )
NET CURRENT ASSETS (LIABILITIES) 4,402,951 3,027,238
TOTAL ASSETS LESS CURRENT LIABILITIES 4,705,283 3,851,179
Creditors: Amounts Falling Due After More Than One Year 8 (3,129,625 ) (24,167 )
NET ASSETS 1,575,658 3,827,012
CAPITAL AND RESERVES
Called up share capital 9 42,597 40,665
Share premium account 9,231,865 9,218,586
Profit and Loss Account (7,698,804 ) (5,432,239 )
SHAREHOLDERS' FUNDS 1,575,658 3,827,012
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors on 23 September 2024 and were signed on its behalf by:
Mr Gregory Mullen
Director
23 September 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Theragnostics Limited is a private company,  limited by shares, incorporated in England & Wales, registered number 08616211 . The registered office is Spaces Oxford Street, Mappin House, 4 Winsley Street, London, W1W 8HF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Going Concern Disclosure
The company’s financial statements have been prepared on a going concern basis on the grounds  that current and future sources of funding or support will be more than adequate for the company’s needs. In assessing going concern, the directors have a reasonable expectation that the company will continue as a going concern and is able to meet all of its obligations as they fall due for a minimum of 12 months from the date of approval of these financial statements.
2.3. Turnover
Revenue is recognised to the extent there is probable economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from a contract to provide services is recognised in the period in which the services are provided.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Research and development costs

Expenditure on research activities is recognised within profit or loss as an expense is incurred.

Purchased intangible assets consist of licences

Purchased intangible assets are initially recognised at cost. After recognition, intangible assets are measured at cost less any accumulated amortisation and impairment losses.

All intangible assets are considered to have a finite useful life. The useful life of an intangible asset that arises from contractual or other legal rights does not exceed the period of the contractual or other legal rights, but may
be shorter depending on the period over which the entity expects to use the asset.

The estimated useful lives are as follows:

Licences – 5 years on a straight line basis

At each reporting date the company assesses whether there is any indication of impairment. If such indications exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. Any impairment loss is recognised immediately as an expense within profit or loss.

2.5. Leasing and Hire Purchase Contracts
Leases in which the company assumes substantially all the risks and rewards of ownership of the leased asset are classified as finance leases. All other leases are classified as operating leases.

Payments (excluding costs for services and insurance) made under operating leases are recognised in the profit and loss account on a straight-line basis over the term of the lease unless the payments to the lessor are structured to increase in line with expected general inflation; in which case the payments related to the structured increases are recognised as incurred. Lease incentives received are recognised in profit and loss over the term of the lease as an integral part of the total lease expenses.
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2.6. Financial Instruments
Trade and other debtors / creditors
Trade and other debtors are recognised initially at transaction prices less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.
Investments
Investments in subsidiaries are held at cost less accumulated impairment losses.
Impairment of financial assets
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 within profit or loss.
For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset’s carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.
2.7. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.9. Pensions
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions in a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in profit or loss in the periods during which services are rendered by employees.
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2.10. Related party exemption
The company has taken advantage of the exemption available under FRS 102 not to disclose related party transactions with wholly owned subsidiaries within the group.
3. Average Number of Employees
Average number of employees during the year was 3 (2022: 4)
3 4
4. Intangible Assets
Other
£
Cost
As at 1 January 2023 2,608,045
As at 31 December 2023 2,608,045
Amortisation
As at 1 January 2023 1,784,105
Provided during the period 521,609
As at 31 December 2023 2,305,714
Net Book Value
As at 31 December 2023 302,331
As at 1 January 2023 823,940
5. Investments
Other
£
Cost
As at 1 January 2023 1
As at 31 December 2023 1
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 1
As at 1 January 2023 1
6. Debtors
2023 2022
£ £
Due within one year
Amounts owed by group undertakings 3,679,016 2,937,327
Other debtors 683,727 359,915
4,362,743 3,297,242
Included within debtors is an amount of £371 due from a director. This amount was repaid to the company in February 2024. The above loan is unsecured, interest free and repayable on demand.
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 132,621 52,260
Bank loans and overdrafts 10,000 10,000
Other loans - 413,203
Amounts owed to group undertakings 35,908 -
Other creditors 295,479 78,691
Taxation and social security 7,422 -
481,430 554,154
Included within other creditors are outstanding pension contributions of £771 (31 December 2022: NIL)
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 14,167 24,167
Amounts owed to group undertakings 3,115,458 -
3,129,625 24,167
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 3,364 3,051
Later than one year and not later than five years 2,598 4,810
5,962 7,861
11. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Ariceum Therapeutics GmbH . Ariceum Therapeutics GmbH was incorporated in Germany. Copies of the group accounts may be obtained from the secretary, Robert-Rossle-Str. 10, 13125 Berlin, Germany . The ultimate controlling party is Ariceum Therapeutics GmbH who controls 100% of the shares of Theragnostics Limited .
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