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REGISTERED NUMBER: 09526225 (England and Wales)















Unaudited Financial Statements

for the Period 1 April 2023 to 30 June 2024

for

Nuvision Biotherapies Limited

Nuvision Biotherapies Limited (Registered number: 09526225)






Contents of the Financial Statements
for the Period 1 April 2023 to 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Nuvision Biotherapies Limited

Company Information
for the Period 1 April 2023 to 30 June 2024







DIRECTORS: A Hill
Dr A Hopkinson
Mercia Fund Management (Nominees) Limite
R P Teasdale
Dr J M Treherne





SECRETARY:





REGISTERED OFFICE: Medicity, D6 Building
Thane Road
Nottingham
NG90 6BH





REGISTERED NUMBER: 09526225 (England and Wales)





ACCOUNTANTS: Trend Accountants Ltd
4 Edison Village
Highfield Science Park
Nottingham
NG72RF

Nuvision Biotherapies Limited (Registered number: 09526225)

Balance Sheet
30 June 2024

30.6.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 25,024 16,550
Tangible assets 5 15,436 43,359
40,460 59,909

CURRENT ASSETS
Stocks 6 200,764 142,723
Debtors 7 145,453 146,773
Cash at bank 44,293 645,677
390,510 935,173
CREDITORS
Amounts falling due within one year 8 392,627 25,245
NET CURRENT (LIABILITIES)/ASSETS (2,117 ) 909,928
TOTAL ASSETS LESS CURRENT
LIABILITIES

38,343

969,837

CREDITORS
Amounts falling due after more than
one year

9

(210,000

)

(22,500

)

PROVISIONS FOR LIABILITIES (5,390 ) -
NET (LIABILITIES)/ASSETS (177,047 ) 947,337

Nuvision Biotherapies Limited (Registered number: 09526225)

Balance Sheet - continued
30 June 2024

30.6.24 31.3.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 167 160
Share premium 6,809,088 6,347,270
Retained earnings (6,986,302 ) (5,400,093 )
(177,047 ) 947,337

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2024 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 29 January 2025 and were signed on its behalf by:





Dr J M Treherne - Director


Nuvision Biotherapies Limited (Registered number: 09526225)

Notes to the Financial Statements
for the Period 1 April 2023 to 30 June 2024

1. STATUTORY INFORMATION

Nuvision Biotherapies Limited 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
At the balance sheet date the Company had net liabilities of £177,047. The accounts have been prepared on the Going Concern Basis.

The Company commenced a significant fund raise from existing and new shareholders during the year resulting in commitment to new equity of £3,517,000 which completed after the year end (see note 12 - Post Balance Sheet Event). The directors continue to regularly monitor the funds available and consider the Company has sufficient funding to beyond 12 months from the date of signing these accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 33.33% 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.

Taxation
Taxation for the period 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.


Nuvision Biotherapies Limited (Registered number: 09526225)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 June 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 21 (2023 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023 27,928
Additions 12,991
Reclassification/transfer 3,103
At 30 June 2024 44,022
AMORTISATION
At 1 April 2023 11,378
Charge for period 4,517
Reclassification/transfer 3,103
At 30 June 2024 18,998
NET BOOK VALUE
At 30 June 2024 25,024
At 31 March 2023 16,550

Nuvision Biotherapies Limited (Registered number: 09526225)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 June 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 94,582 5,095 21,717 121,394
Additions - - 1,617 1,617
Disposals (26,940 ) - - (26,940 )
At 30 June 2024 67,642 5,095 23,334 96,071
DEPRECIATION
At 1 April 2023 54,700 4,046 19,289 78,035
Charge for period 8,455 443 1,267 10,165
Eliminated on disposal (8,503 ) - - (8,503 )
Reclassification/transfer 90 (62 ) 910 938
At 30 June 2024 54,742 4,427 21,466 80,635
NET BOOK VALUE
At 30 June 2024 12,900 668 1,868 15,436
At 31 March 2023 39,882 1,049 2,428 43,359

6. STOCKS
30.6.24 31.3.23
£    £   
Finished goods 200,764 142,723

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 31.3.23
£    £   
Trade debtors 107,566 119,763
Other debtors 37,887 27,010
145,453 146,773

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 31.3.23
£    £   
Bank loans and overdrafts 10,725 10,000
Trade creditors 191,771 91,411
Taxation and social security 73,786 (110,117 )
Other creditors 116,345 33,951
392,627 25,245

Nuvision Biotherapies Limited (Registered number: 09526225)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 June 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.6.24 31.3.23
£    £   
Bank loans 10,000 22,500
Other creditors 200,000 -
210,000 22,500

10. POST BALANCE SHEET EVENTS

On 18 July 2024 an agreement was signed by current and new investors to raise £3,517,000 in new equity to fund the growth of the Company. The agreement resulted in Funds managed by Mercia Asset Management substantially increasing their holding in the Company. The agreement allowed for staged receipt of funds and at the date of these accounts £2,717,000 had been received.