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REGISTERED NUMBER: 11723136 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Chromatwist Limited

Chromatwist Limited (Registered number: 11723136)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Chromatwist Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: M Shepherd
Prof A Robinson
Prof J Preece
D Wake
W Truman





REGISTERED OFFICE: Science Centre Wolverhampton Science Pk
Chromatwist (Pd206)
Science Centre
Wolverhampton
WV10 9RU





REGISTERED NUMBER: 11723136 (England and Wales)





ACCOUNTANTS: Kearney & Associates Limited
14 Harvey Road
Bedford
Bedfordshire
MK41 9LF

Chromatwist Limited (Registered number: 11723136)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,750 34,218

CURRENT ASSETS
Debtors 5 160,072 89,844
Cash at bank 57,254 383,940
217,326 473,784
CREDITORS
Amounts falling due within one year 6 55,189 140,916
NET CURRENT ASSETS 162,137 332,868
TOTAL ASSETS LESS CURRENT
LIABILITIES

189,887

367,086

CREDITORS
Amounts falling due after more than
one year

7

141,750

-
NET ASSETS 48,137 367,086

CAPITAL AND RESERVES
Called up share capital 9 655 655
Share premium 1,533,091 1,533,091
Retained earnings (1,485,609 ) (1,166,660 )
SHAREHOLDERS' FUNDS 48,137 367,086

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Chromatwist Limited (Registered number: 11723136)

Balance Sheet - continued
31 December 2024


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 28 February 2025 and were signed on its behalf by:





Prof J Preece - Director


Chromatwist Limited (Registered number: 11723136)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Chromatwist 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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has made significant product development progress in the year and is working with a number of potential major customers with the aim of commercialisation. Supported by this positive progress the company is in discussions with existing shareholders and potential new investors to obtain further investment during 2025. The directors therefore conclude that there are no material uncertainties which may cast significant doubt regarding the company's ability to continue as a going concern. Accordingly, the company has adopted the going concern basis in preparing the annual report and 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.

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 - 20% on cost

Government grants
Grants that are received in respect of expenses already incurred are recognised in the income statement in the period in which the relevant expenses are incurred.

Taxation
Taxation for the year 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.


Chromatwist Limited (Registered number: 11723136)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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 year 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2024 46,094
Additions 2,439
At 31 December 2024 48,533
DEPRECIATION
At 1 January 2024 11,876
Charge for year 8,907
At 31 December 2024 20,783
NET BOOK VALUE
At 31 December 2024 27,750
At 31 December 2023 34,218

Chromatwist Limited (Registered number: 11723136)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 597 -
Other debtors 140,931 62,102
VAT 11,066 3,031
Prepayments 7,478 24,711
160,072 89,844

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 30,242 10,712
Social security and other taxes 5,353 5,892
Accrued expenses 19,594 124,312
55,189 140,916

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.24 31.12.23
£    £   
Other creditors 141,750 -

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.24 31.12.23
£    £   
Within one year 5,277 4,827

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
655,195 Ordinary £0.00 1 655 655

10. RELATED PARTY DISCLOSURES

Other creditors payable after more than 12 months represents an amount owed to the University of Birmingham for services rendered. Payment for these services has been deferred and is not expected to be payable for at least twelve months. The University of Birmingham is a shareholder of Chromatwist Limited.

Chromatwist Limited (Registered number: 11723136)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

11. POST BALANCE SHEET EVENTS

Discussions with a number of large potential customers in the life sciences technologies industry are ongoing concerning the development of the company's products for the global flow cytometry market. The aim of these discussions is to move to formalise collaboration and to generate future orders.

12. SHARE-BASED PAYMENT TRANSACTIONS

The company has implemented equity-settled share-based payment plans.

No share options were granted during the year. To date, the company has granted 49,500 share options to staff and other individuals. Options vest on a combination of time and other milestones.

The directors have considered recognising a charge in respect of share based payments. However the directors have agreed that any such charge is not material to the accounts and therefore it has not been included.