Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-12-31true2023-01-01falseNo description of principal activityfalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11296080 2023-01-01 2023-12-31 11296080 2022-01-01 2022-12-31 11296080 2023-12-31 11296080 2022-12-31 11296080 2022-01-01 11296080 c:Director8 2023-01-01 2023-12-31 11296080 d:PlantMachinery 2023-01-01 2023-12-31 11296080 d:OfficeEquipment 2023-01-01 2023-12-31 11296080 d:ComputerEquipment 2023-01-01 2023-12-31 11296080 d:ComputerEquipment 2023-12-31 11296080 d:ComputerEquipment 2022-12-31 11296080 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11296080 d:PatentsTrademarksLicencesConcessionsSimilar 2023-01-01 2023-12-31 11296080 d:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 11296080 d:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 11296080 d:CurrentFinancialInstruments 2023-12-31 11296080 d:CurrentFinancialInstruments 2022-12-31 11296080 d:Non-currentFinancialInstruments 2023-12-31 11296080 d:Non-currentFinancialInstruments 2022-12-31 11296080 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11296080 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11296080 d:ShareCapital 2023-01-01 2023-12-31 11296080 d:ShareCapital 2023-12-31 11296080 d:ShareCapital 2022-01-01 2022-12-31 11296080 d:ShareCapital 2022-12-31 11296080 d:ShareCapital 2022-01-01 11296080 d:SharePremium 2023-01-01 2023-12-31 11296080 d:SharePremium 2023-12-31 11296080 d:SharePremium 2022-01-01 2022-12-31 11296080 d:SharePremium 2022-12-31 11296080 d:SharePremium 2022-01-01 11296080 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 11296080 d:RetainedEarningsAccumulatedLosses 2023-12-31 11296080 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 11296080 d:RetainedEarningsAccumulatedLosses 2022-12-31 11296080 d:RetainedEarningsAccumulatedLosses 2022-01-01 11296080 c:OrdinaryShareClass1 2023-01-01 2023-12-31 11296080 c:OrdinaryShareClass1 2023-12-31 11296080 c:OrdinaryShareClass2 2023-01-01 2023-12-31 11296080 c:OrdinaryShareClass2 2023-12-31 11296080 c:OrdinaryShareClass3 2023-01-01 2023-12-31 11296080 c:OrdinaryShareClass3 2023-12-31 11296080 c:OrdinaryShareClass4 2023-01-01 2023-12-31 11296080 c:OrdinaryShareClass4 2023-12-31 11296080 c:OrdinaryShareClass5 2023-01-01 2023-12-31 11296080 c:OrdinaryShareClass5 2023-12-31 11296080 c:FRS102 2023-01-01 2023-12-31 11296080 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11296080 c:FullAccounts 2023-01-01 2023-12-31 11296080 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11296080 d:Subsidiary1 2023-01-01 2023-12-31 11296080 d:Subsidiary1 1 2023-01-01 2023-12-31 11296080 d:WithinOneYear 2023-12-31 11296080 d:WithinOneYear 2022-12-31 11296080 d:BetweenOneFiveYears 2023-12-31 11296080 d:BetweenOneFiveYears 2022-12-31 11296080 c:Consolidated 2023-12-31 11296080 c:ConsolidatedGroupCompanyAccounts 2023-01-01 2023-12-31 11296080 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 11296080 6 2023-01-01 2023-12-31 11296080 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-01-01 2023-12-31 11296080 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11296080









PEPTONE LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
PEPTONE LTD
REGISTERED NUMBER: 11296080

CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
68,115
45,917

Tangible assets
 5 
3,613,647
1,013,311

  
3,681,762
1,059,228

Current assets
  

Debtors: amounts falling due after more than one year
 7 
90,859
73,287

Debtors: amounts falling due within one year
 7 
1,388,737
901,647

Cash at bank and in hand
 8 
16,758,334
7,539,695

  
18,237,930
8,514,629

Creditors: amounts falling due within one year
 9 
(1,632,681)
(756,941)

Net current assets
  
16,605,249
7,757,688

Creditors: amounts falling due after more than one year
 10 
(363,671)
-

Net assets
  
19,923,340
8,816,916


Capital and reserves
  

Called up share capital 
 12 
42
29

Share premium account
  
32,172,818
13,165,707

Foreign exchange reserve
  
(12,882)
9,230

Profit and loss account
  
(12,236,638)
(4,358,050)

Total equity
  
19,923,340
8,816,916


Page 1

 
PEPTONE LTD
REGISTERED NUMBER: 11296080
    
CONSOLIDATED 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 consolidated statement of comprehensive income 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: 


................................................
K Tamiola
Director

Date: 24 September 2024

The notes on pages 7 to 18 form part of these financial statements.

Page 2

 
PEPTONE LTD
REGISTERED NUMBER: 11296080

COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
68,115
45,917

Tangible assets
 5 
8,365
56,374

Investments
 6 
2,137,792
83,886

  
2,214,272
186,177

Current assets
  

Debtors: amounts falling due after more than one year
 7 
39,100
23,500

Debtors: amounts falling due within one year
 7 
1,166,398
3,425,985

Cash at bank and in hand
 8 
16,729,898
5,309,135

  
17,935,396
8,758,620

Creditors: amounts falling due within one year
 9 
(531,974)
(236,621)

Net current assets
  
17,403,422
8,521,999

  

  

Net assets
  
19,617,694
8,708,176


Capital and reserves
  

Called up share capital 
 12 
42
29

Share premium account
  
32,172,818
13,165,707

Profit and loss account
  
(12,555,166)
(4,457,560)

Total equity
  
19,617,694
8,708,176


Page 3

 
PEPTONE LTD
REGISTERED NUMBER: 11296080
    
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from the requirement to have an audit under the provisions of 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 consolidated statement of comprehensive income 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: 


................................................
K Tamiola
Director

Date: 24 September 2024

The notes on pages 7 to 18 form part of these financial statements.

Page 4

 
PEPTONE LTD
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Share premium account
Foreign exchange reserve
Profit and loss account
Total equity

£
£
£
£
£


At 1 January 2022
19
1,750,098
-
(674,873)
1,075,244


Comprehensive income for the year

Loss for the year
-
-
-
(3,683,177)
(3,683,177)

Currency translation differences
-
-
9,230
-
9,230
Total comprehensive income for the year
-
-
9,230
(3,683,177)
(3,673,947)


Contributions by and distributions to owners

Shares issued during the year
10
11,415,609
-
-
11,415,619



At 1 January 2023
29
13,165,707
9,230
(4,358,050)
8,816,916


Comprehensive income for the year

Loss for the year
-
-
-
(7,878,588)
(7,878,588)

Currency translation differences
-
-
(22,112)
-
(22,112)
Total comprehensive income for the year
-
-
(22,112)
(7,878,588)
(7,900,700)

Shares issued during the year
13
19,007,111
-
-
19,007,124


At 31 December 2023
42
32,172,818
(12,882)
(12,236,638)
19,923,340


The notes on pages 7 to 18 form part of these financial statements.

Page 5

 
PEPTONE LTD
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 January 2022
19
1,750,098
(674,873)
1,075,244


Comprehensive income for the year

Loss for the year
-
-
(3,782,687)
(3,782,687)
Total comprehensive income for the year
-
-
(3,782,687)
(3,782,687)


Contributions by and distributions to owners

Shares issued during the year
10
11,415,609
-
11,415,619



At 1 January 2023
29
13,165,707
(4,457,560)
8,708,176


Comprehensive income for the year

Loss for the year
-
-
(8,097,606)
(8,097,606)
Total comprehensive income for the year
-
-
(8,097,606)
(8,097,606)


Contributions by and distributions to owners

Shares issued during the year
13
19,007,111
-
19,007,124


At 31 December 2023
42
32,172,818
(12,555,166)
19,617,694


The notes on pages 7 to 18 form part of these financial statements.

Page 6

 
PEPTONE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Peptone Limited is a private company, limited by shares, incorporated in England and Wales under the Companies Act 2006. The company registration number is 11296080, and the address of the registered office is The Connolly Works, 41-43 Chalton Street, London, England, NW1 1JD. Up to 21st April 2024, the companies registered office was 368 Grays Inn Road, The Lighthouse, Kings Cross, London, WC1X 8BB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The consolidated financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.

The following principal accounting policies have been applied:

  
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Income and Retained Earnings from the date on which control is obtained. They are deconsolidated from the date control ceases.

 
2.3

Going concern

The accounts have continued to be prepared on a going concern basis and the directors deem this appropriate. The company does not consider that a material uncertainty about its going concern status currently exists. In making this assessment the directors have considered the likely trading conditions for a period of twelve months from the date of our approval of these accounts.

Page 7

 
PEPTONE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

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.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

 
2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group 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. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Group will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 8

 
PEPTONE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Operating leases: the Group as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.7

Leased assets: the Group as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

  
2.8

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. 
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.9

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Group in independently administered funds.

 
2.10

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 and the Group operate and generate income.

Page 9

 
PEPTONE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

At each reporting date the company assesses whether there is any indication of impairment. If such indication 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. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Intangibles
-
10%
straight line

 
2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Group assesses whether there is any indication of impairment. If such indication 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. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Laboratory equipment
-
10
years straight line
Office equipment
-
3
years straight line
Computer equipment
-
3
to 5 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 10

 
PEPTONE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.13

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.14

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.

 
2.15

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.

 
2.16

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 31 (2022 - 15).

Page 11

 
PEPTONE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets

Group





Patents

£



Cost


At 1 January 2023
51,652


Additions
29,178



At 31 December 2023

80,830



Amortisation


At 1 January 2023
5,735


Charge for the year on owned assets
6,980



At 31 December 2023

12,715



Net book value



At 31 December 2023
68,115



At 31 December 2022
45,917



Page 12

 
PEPTONE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
           4.Intangible assets (continued)

Company




Patents

£



Cost


At 1 January 2023
51,652


Additions
29,178



At 31 December 2023

80,830



Amortisation


At 1 January 2023
5,735


Charge for the year
6,980



At 31 December 2023

12,715



Net book value



At 31 December 2023
68,115



At 31 December 2022
45,917

Page 13

 
PEPTONE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets

Group






Plant and machinery
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
885,736
13,974
209,910
1,109,620


Additions
2,811,334
-
-
2,811,334



At 31 December 2023

3,697,070
13,974
209,910
3,920,954



Depreciation


At 1 January 2023
-
1,164
95,145
96,309


Charge for the year on owned assets
147,343
2,795
60,860
210,998



At 31 December 2023

147,343
3,959
156,005
307,307



Net book value



At 31 December 2023
3,549,727
10,015
53,905
3,613,647



At 31 December 2022
885,736
12,810
114,765
1,013,311



It is the policy of the Group to capitalise items which exceed £10,000 in initial cost.

Page 14

 
PEPTONE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

           5.Tangible fixed assets (continued)


Company






Computer equipment

£

Cost or valuation


At 1 January 2023
145,653



At 31 December 2023

145,653



Depreciation


At 1 January 2023
89,279


Charge for the year on owned assets
48,009



At 31 December 2023

137,288






At 31 December 2023
8,365



At 31 December 2022
56,374






Page 15

 
PEPTONE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
83,886


Additions
2,053,906



At 31 December 2023
2,137,792





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

Peptone Switzerland AG
Via Vela 5  6500 Bellinzona  Switzerland
Ordinary
100%


7.


Debtors

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Due after more than one year

Rent deposits
90,859
73,287
39,100
23,500


Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Due within one year

Trade debtors
24,000
36,000
24,000
36,000

Amounts owed by group undertakings
-
-
-
2,603,378

Other debtors
294,099
93,188
82,438
55,609

Prepayments and accrued income
263,156
136,223
252,478
94,762

Tax recoverable
807,482
636,236
807,482
636,236

1,388,737
901,647
1,166,398
3,425,985


Page 16

 
PEPTONE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Cash and cash equivalents

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Cash at bank and in hand
16,758,334
7,539,695
16,729,898
5,309,135



9.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Trade creditors
595,556
312,404
149,011
82,870

Amounts owed to group undertakings
-
-
82,635
-

Corporation tax
21,006
2,565
-
2,565

Other taxation and social security
366,146
108,996
146,906
34,486

Obligations under finance lease contracts
223,227
-
-
-

Other creditors
93,616
39,178
23,041
15,278

Accruals and deferred income
333,130
293,798
130,381
101,422

1,632,681
756,941
531,974
236,621



10.


Creditors: Amounts falling due after more than one year

Group
Group
2023
2022
£
£

Net obligations under finance leases
363,671
-



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

Group
Group
2023
2022
£
£

Within one year
255,327
-

Between 1-5 years
382,990
-

638,317
-

Page 17

 
PEPTONE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



90,461 Ordinary shares of £0.0001 each -
9.05
12.24
64,429 Seed Preferred shares of £0.0001 each -
6.44
6.44
18,906 Deferred shares of £0.0001 each -
1.89
-
118,192 Series A-1 shares of £0.0001 each -
11.82
10.52
129,410 Series A-2 shares of £0.0001 each -
12.94
-

42.14

29.20


During the year 129,410 Series A-2 Shares were issued with nominal value of £0.0001 each for total consideration of £19,025,865.


13.


Pension commitments

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group  in an independently administered fund. The pension cost charge represents contributions payable by the Group  to the fund and amounted to £234,047 (2022: £34,925). Contributions totalling £34,104 (2022: £15,456) were payable to the fund at the balance sheet date and are included in creditors.


14.


Commitments under operating leases

At 31 December 2023 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Not later than 1 year
315,218
328,563
-
58,750

Later than 1 year and not later than 5 years
119,667
434,885
-
-

434,885
763,448
-
58,750


15.


Related party transactions

The company has taken advantage of the exemption conferred by FRS102 not to disclose transactions entered into with wholly owned members of the same group.


16.


Controlling party

No controlling party identified.

 
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