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Registered number: 12494709
Opteran Technologies Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12494709
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 155,918 164,491
155,918 164,491
CURRENT ASSETS
Stocks 5 17,185 -
Debtors 6 295,409 202,465
Cash at bank and in hand 1,095,560 4,841,818
1,408,154 5,044,283
Creditors: Amounts Falling Due Within One Year 7 (335,058 ) (346,379 )
NET CURRENT ASSETS (LIABILITIES) 1,073,096 4,697,904
TOTAL ASSETS LESS CURRENT LIABILITIES 1,229,014 4,862,395
NET ASSETS 1,229,014 4,862,395
CAPITAL AND RESERVES
Called up share capital 8 156 155
Share premium account 11,970,817 11,964,929
Profit and Loss Account (10,741,959 ) (7,102,689 )
SHAREHOLDERS' FUNDS 1,229,014 4,862,395
Page 1
Page 2
For the year ending 31 December 2024 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.
On behalf of the board
S Mitchell
Director
17 January 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Opteran Technologies Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12494709 . The registered office is The Innovation Centre, 217 Portobello, Sheffield, South Yorkshire, S1 4DP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 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 financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the following reasons.
In determining the ability of the Company to operate under the going concern basis, the directors have considered the current economic environment as well as the level of funding available to it.
In doing so, the company has prepared detailed forecasts which have considered: 
  • the current and projected levels of available cash;
  • the nature and term of outstanding liabilities; and
  • any future fundraising (see below).
The Company is engaged in the commercialisation of intellectual proerty. As is usual in this industry, it relies on funding from investors for these activities as revenues from other trading activities are not sufficient to cover expenses.
The Company's forecast incorporates additional funding requirements for the Company to adequately meet its
operational objectives for at least twelve months from the signing of these financial statements. 
The Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. This is based on development and commercial progress to date and ongoing investor discussions that reinforce the expectation that the Company will be successful in securing, within twelve months, additional funding from investors to support the Company's activities. 
However, if further funding is not received, this may mean that the Company cannot meet its liabilities as they fall due which gives rise to a material uncertainty regarding going conern.
On the basis of the above, the directors are satisfied that it is appropriate to prepare the financial statements of the Company on a going concern basis.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Straight Line
Fixtures & Fittings 15% Straight Line
Computer Equipment 33.33% Straight Line
2.5. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Government Grant
Grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 46 (2023: 44)
46 44
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2024 106,688 21,002 132,107 259,797
Additions 49,845 3,419 17,075 70,339
As at 31 December 2024 156,533 24,421 149,182 330,136
Depreciation
As at 1 January 2024 27,432 4,886 62,988 95,306
Provided during the period 33,347 3,396 42,169 78,912
As at 31 December 2024 60,779 8,282 105,157 174,218
Net Book Value
As at 31 December 2024 95,754 16,139 44,025 155,918
As at 1 January 2024 79,256 16,116 69,119 164,491
5. Stocks
2024 2023
£ £
Stock 17,185 -
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 25,031 60,000
Prepayments and accrued income 223,509 102,979
VAT 46,869 39,486
295,409 202,465
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 152,631 90,824
Other taxes and social security 120,611 118,271
Accruals and deferred income 61,816 137,284
335,058 346,379
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 156 155
During the year 980 Ordinary Shares of £0.0001 each were issued following the exercise of vested options under the Company's Share Option Plan.
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 39,525 79,050
Later than one year and not later than five years - 39,525
39,525 118,575
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