Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312025-05-017falsetruefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2024-01-01No description of principal activity9false 08664089 2024-01-01 2024-12-31 08664089 2023-01-01 2023-12-31 08664089 2024-12-31 08664089 2023-12-31 08664089 c:Director5 2024-01-01 2024-12-31 08664089 d:PlantMachinery 2024-01-01 2024-12-31 08664089 d:PlantMachinery 2024-12-31 08664089 d:PlantMachinery 2023-12-31 08664089 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 08664089 d:OfficeEquipment 2024-01-01 2024-12-31 08664089 d:OfficeEquipment 2024-12-31 08664089 d:OfficeEquipment 2023-12-31 08664089 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 08664089 d:ComputerEquipment 2024-01-01 2024-12-31 08664089 d:ComputerEquipment 2024-12-31 08664089 d:ComputerEquipment 2023-12-31 08664089 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 08664089 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 08664089 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 08664089 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 08664089 d:CurrentFinancialInstruments 2024-12-31 08664089 d:CurrentFinancialInstruments 2023-12-31 08664089 d:Non-currentFinancialInstruments 2024-12-31 08664089 d:Non-currentFinancialInstruments 2023-12-31 08664089 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 08664089 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08664089 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 08664089 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 08664089 d:ShareCapital 2024-12-31 08664089 d:ShareCapital 2023-12-31 08664089 d:SharePremium 2024-12-31 08664089 d:SharePremium 2023-12-31 08664089 d:RetainedEarningsAccumulatedLosses 2024-12-31 08664089 d:RetainedEarningsAccumulatedLosses 2023-12-31 08664089 c:FRS102 2024-01-01 2024-12-31 08664089 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 08664089 c:FullAccounts 2024-01-01 2024-12-31 08664089 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08664089 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 08664089 6 2024-01-01 2024-12-31 08664089 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 08664089









INGENION MEDICAL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
INGENION MEDICAL LIMITED
REGISTERED NUMBER: 08664089

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible fixed assets
  
2,281,208
2,159,565

Tangible assets
 5 
11,024
3,942

Investments
  
1
1

  
2,292,233
2,163,508

Current assets
  

Stocks
 6 
138,764
8,545

Debtors: amounts falling due within one year
 7 
308,603
564,774

Cash at bank and in hand
 8 
490,739
64,842

  
938,106
638,161

Creditors: amounts falling due within one year
 9 
(291,041)
(326,303)

Net current assets
  
 
 
647,065
 
 
311,858

Total assets less current liabilities
  
2,939,298
2,475,366

Creditors: amounts falling due after more than one year
 10 
(382,088)
-

  

Net assets
  
2,557,210
2,475,366


Capital and reserves
  

Called up share capital 
  
3,733
3,378

Share premium account
  
5,884,735
4,775,881

Profit and loss account
  
(3,331,258)
(2,303,893)

  
2,557,210
2,475,366


Page 1

 
INGENION MEDICAL LIMITED
REGISTERED NUMBER: 08664089
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 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 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 profit and loss account 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: 




Edward Cappabianca
Director

Date: 1 May 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
INGENION MEDICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Ingenion Medical Limited is a private company limited by shares and incorporated in England and
Wales. Its registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.

2.Accounting policies

 
2.1

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.

 
2.2

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and Loss Account in the same period as the related expenditure.

 
2.3

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.

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.

 
2.4

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

 
INGENION MEDICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.4
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:

Plant and machinery
-
Office equipment
-
Computer equipment
-
25%

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.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.6

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.

 
2.7

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 4

 
INGENION MEDICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Employees

2024
2023
£
£

Wages and salaries
470,861
530,161

Social security costs
54,657
55,521

Cost of defined contribution scheme
14,538
7,306

540,056
592,988


The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
7
9


4.


Intangible assets




Development expenditure

£



Cost


At 1 January 2024
2,159,565


Additions
121,643



At 31 December 2024

2,281,208






Net book value



At 31 December 2024
2,281,208



At 31 December 2023
2,159,565



Page 5

 
INGENION MEDICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Plant and machinery
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2024
1,253
-
4,308
5,561


Additions
6,760
2,039
128
8,927



At 31 December 2024

8,013
2,039
4,436
14,488



Depreciation


At 1 January 2024
209
-
1,411
1,620


Charge for the year on owned assets
454
297
1,093
1,844



At 31 December 2024

663
297
2,504
3,464



Net book value



At 31 December 2024
7,350
1,742
1,932
11,024



At 31 December 2023
1,044
-
2,898
3,942


6.


Stocks

2024
2023
£
£

Stock
138,764
8,545

138,764
8,545



7.


Debtors

2024
2023
£
£


Trade debtors
3,277
-

Amounts owed by group undertakings
297,186
297,186

Other debtors
7,700
267,588

Prepayments and accrued income
440
-

308,603
564,774

Page 6

 
INGENION MEDICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.Debtors (continued)



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
490,739
64,842

490,739
64,842



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
255,247
254,687

Other taxation and social security
20,862
22,482

Other creditors
3,307
21,551

Accruals and deferred income
11,625
27,583

291,041
326,303



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Long - term convertible loan note
382,088
-

382,088
-




 
Page 7