Caseware UK (AP4) 2023.0.135 2023.0.135 2024-09-302024-09-302023-10-01falseR&D in pharmaceutical sciences108truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07373043 2023-10-01 2024-09-30 07373043 2022-10-01 2023-09-30 07373043 2024-09-30 07373043 2023-09-30 07373043 c:Director2 2023-10-01 2024-09-30 07373043 d:FurnitureFittings 2023-10-01 2024-09-30 07373043 d:FurnitureFittings 2024-09-30 07373043 d:FurnitureFittings 2023-09-30 07373043 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 07373043 d:OfficeEquipment 2023-10-01 2024-09-30 07373043 d:OfficeEquipment 2024-09-30 07373043 d:OfficeEquipment 2023-09-30 07373043 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 07373043 d:OtherPropertyPlantEquipment 2023-10-01 2024-09-30 07373043 d:OtherPropertyPlantEquipment 2024-09-30 07373043 d:OtherPropertyPlantEquipment 2023-09-30 07373043 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 07373043 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 07373043 d:CurrentFinancialInstruments 2024-09-30 07373043 d:CurrentFinancialInstruments 2023-09-30 07373043 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 07373043 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 07373043 d:ShareCapital 2024-09-30 07373043 d:ShareCapital 2023-09-30 07373043 d:SharePremium 2024-09-30 07373043 d:SharePremium 2023-09-30 07373043 d:RetainedEarningsAccumulatedLosses 2024-09-30 07373043 d:RetainedEarningsAccumulatedLosses 2023-09-30 07373043 c:FRS102 2023-10-01 2024-09-30 07373043 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 07373043 c:FullAccounts 2023-10-01 2024-09-30 07373043 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 07373043 2 2023-10-01 2024-09-30 07373043 4 2023-10-01 2024-09-30 07373043 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure
Registered number: 07373043


 
 
 
 
 
 
 
 
 
 
NANOMERICS LTD
 
 
 
 
 
 
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
NANOMERICS LTD
REGISTERED NUMBER:07373043

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
231,031
337,072

  
231,031
337,072

Current assets
  

Debtors: amounts falling due within one year
 5 
222,439
723,872

Cash at bank and in hand
  
745,906
1,369,951

  
968,345
2,093,823

Creditors: amounts falling due within one year
 6 
(295,061)
(239,186)

Net current assets
  
 
 
673,284
 
 
1,854,637

Total assets less current liabilities
  
904,315
2,191,709

  

Net assets
  
904,315
2,191,709


Capital and reserves
  

Called up share capital 
  
1,010
1,010

Share premium account
  
990
990

Profit and loss account
  
902,315
2,189,709

  
904,315
2,191,709


Page 1

 
NANOMERICS LTD
REGISTERED NUMBER:07373043
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

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 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: 




Dr A G Schatzlein
Director

Date: 26 March 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
NANOMERICS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Nanomerics Limited is a private company, limited by shares, company registration number 07373043,  incorporated in England and Wales. The registered office is 6th Floor, 2 London Wall, London Wall Place, London, EC2Y 5AU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise
specified within these accounting policies and in accordance with Section 1A of Financial Reporting
Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and
the Companies Act 2006.

The financial statements are prepared in pounds sterling, rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the 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. 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 Company 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.

 
2.3

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.

Page 3

 
NANOMERICS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

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.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Straight line method
Office equipment
-
25%
Straight line method
Laboratory equipment
-
20%
Straight line method

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.

 
2.4

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.

 
2.5

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.

 
2.6

Financial instruments


The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Page 4

 
NANOMERICS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.

 
2.7

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.

Page 5

 
NANOMERICS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.8

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is pounds sterling, rounded to the nearest £1.

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 except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.10

Pensions

Defined contribution pension plan

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 into 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 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 Company in independently administered funds.

 
2.11

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 6

 
NANOMERICS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.12

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 operates and generates income.


 
2.13

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. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
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.

 
2.14

Grant income

Grant income is recognised by the company on a receivable basis and when the Company is entitled to receipt and is included in turnover. 

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2023 - 8).

Page 7

 
NANOMERICS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Laboratory Equipment
Total

£
£
£
£



Cost or valuation


At 1 October 2023
54,092
51,779
404,132
510,003



At 30 September 2024

54,092
51,779
404,132
510,003



Depreciation


At 1 October 2023
26,691
29,604
116,636
172,931


Charge for the year
13,523
11,692
80,826
106,041



At 30 September 2024

40,214
41,296
197,462
278,972



Net book value



At 30 September 2024
13,878
10,483
206,670
231,031



At 30 September 2023
27,401
22,175
287,496
337,072


5.


Debtors

2024
2023
£
£


Trade debtors
88,825
83,899

Other debtors
6,439
373,830

Prepayments and accrued income
127,175
266,143

222,439
723,872



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
273,659
214,683

Other taxation and social security
11,518
12,428

Other creditors
5,234
7,605

Accruals and deferred income
4,650
4,470

295,061
239,186


Page 8

 
NANOMERICS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £17,811 (2023: £18,192). Contributions totalling £4,939 (2023: £4,977) were payable to the fund at the balance sheet date and are included in other creditors.


8.


Transactions with directors

Following net loan movements in the year of £20,291 (2023: £19,060) and interest charged of £196 (2023: £291), at the balance sheet date a net amount of £196 (2023: £20,291) was due from the director Dr A G Schatzlein. This loan is unsecured and repaid post year end.

Following net loan movements in the year of £20,287 (2023: £18,729) and interest charged of £204 (2023: £258), at the balance sheet date a net amount of £204 (2023: £20,287) was due from the director Dr I Uchegbu. This loan is unsecured and repaid post year end.

 
Page 9