Registration number:
Anaphite Limited
for the Year Ended 31 December 2024
Pages for filing with Registrar
Anaphite Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Anaphite Limited
Company Information
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Directors |
S Burrow A R Glover M Granoff A J Hewitt J W C Pollock J W Stevenson |
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Company secretary |
A J Hewitt |
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Registered office |
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Registered number |
10533021 |
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Accountant |
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Anaphite Limited
(Registration number: 10533021)
Balance Sheet as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Intangible assets |
199,554 |
136,225 |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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26 |
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Share premium reserve |
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6,093,812 |
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Share application reserve |
- |
881,684 |
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Other reserves |
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144,838 |
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Profit and loss account |
( |
(4,798,321) |
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Total equity |
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2,322,039 |
Anaphite Limited
(Registration number: 10533021)
Balance Sheet as at 31 December 2024
For the financial 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.
Directors' responsibilities:
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• |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised for issue by the
.........................................
Company secretary and director
Anaphite Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Statutory information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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Accounting policies |
Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
The company’s financial statements have been prepared on a going concern basis. The directors have considered a period of twelve months from the date of approval of the financial statements. The directors are extremely confident that they to have access to sufficient funds to meet cash requirements as they become due.
Government grants
Government grants are recognised, using the accrual model, at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.
Tax
The tax expense for the period comprises of current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Anaphite Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible fixed assets
Tangible fixed assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible fixed assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
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Plant & machinery |
20% on cost |
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Computer equipment |
33% on cost |
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Office equipment |
20% on cost |
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Leasehold improvements |
10% on cost |
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Motor vehicles |
Over the length of the lease |
Intangible fixed assets
Separately acquired trademarks, licences, and patents are shown at historical cost.
Intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Patents |
10% on cost |
Research and development costs
Research and development costs are written off to profit or loss in the year incurred.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade creditors
Trade creditors are recognised initially at the transaction price.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.
Anaphite Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.
Share based payments
The company has issued options over its unissued shares to certain employees. The cost of equity-settled transactions is measured by reference to the fair value of the equity instruments granted at the date at which they are granted and is recognised as an expense over the vesting period, which ends on the date on which the option holder becomes fully entitled to the award. Fair value is determined using the Black Scholes pricing model.
At each balance sheet date before vesting, the cumulative expense is calculated, representing the extent to which the vesting period has expired and management’s best estimate of the achievement or otherwise of non-market conditions and of the number of equity instruments that will ultimately vest. The movement in cumulative expense since the previous balance sheet date is recognised in the profit and loss account, with a corresponding entry in equity.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Intangible fixed assets |
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Patents |
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Cost |
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At 1 January 2024 |
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Additions |
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At 31 December 2024 |
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At 1 January 2024 |
- |
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Amortisation charge |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
199,554 |
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At 31 December 2023 |
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Anaphite Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Tangible fixed assets |
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Leasehold improvements |
Office equipment |
Computer equipment |
Plant & machinery |
Total |
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Cost |
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At 1 January 2024 |
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Additions |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
118,022 |
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At 31 December 2023 |
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Anaphite Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Debtors: amounts falling due within one year |
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2024 |
2023 |
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Trade debtors |
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- |
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Other debtors |
18,640 |
18,640 |
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VAT |
91,122 |
33,618 |
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Prepayments and accrued income |
209,459 |
164,376 |
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Corporation tax |
- |
364,768 |
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581,402 |
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Creditors |
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2024 |
2023 |
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Trade creditors |
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Taxation and social security |
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Other creditors |
9,101 |
11,560 |
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Accruals |
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Anaphite Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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22.47 |
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20.66 |
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6.04 |
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5.53 |
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28.63 |
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- |
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During the year:
• 180,084 Ordinary shares with an aggregate nominal value of £1.80 were allotted for an aggregate consideration of £823,850. 125,395 of these ordinary shares were allotted for £629,188 from the funds received in advance of an issue of shares in the prior year.
• 50,324 Preferred shares with an aggregate nominal value of £0.50 were allotted for an aggregate consideration of £252,496. These shares were all allotted from the funds received in advance of an issue of shares in the prior year.
• 2,863,486 Series A shares with an aggregate nominal value of £28.63 were allotted for an aggregate consideration of £10,194,010.
Anaphite Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
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2024 |
2023 |
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Share-based payments |
Scheme details and movements
Certain employees have been granted options over the unissued share capital of the company. The options expire ten years after the grant date.
The movements in the number of share options during the year were as follows:
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2024 |
2023 |
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Outstanding, start of period |
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Granted during the period |
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Forfeited during the period |
( |
( |
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Outstanding, end of period |
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Exercisable, end of period |
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The movements in the weighted average exercise price of share options during the year were as follows:
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2024 |
2023 |
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Outstanding, start of period |
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Granted during the period |
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Forfeited during the period |
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Outstanding, end of period |
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Exercisable, end of period |
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Anaphite Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Scheme details and movements
Certain employees have been granted options over the unissued share capital of the company. The options expire ten years after the grant date.
The movements in the number of share options during the year were as follows:
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2024 |
2023 |
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Outstanding, start of period |
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Forfeited during the period |
- |
( |
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Outstanding, end of period |
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Exercisable, end of period |
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The movements in the weighted average exercise price of share options during the year were as follows:
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2024 |
2023 |
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Outstanding, start of period |
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Forfeited during the period |
- |
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Outstanding, end of period |
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Exercisable, end of period |
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Anaphite Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Reserves |
The share application reserve represents funds received in advance of an issue of shares.
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Share application reserve |
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As at 1 January 2024 |
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Shares issued |
(881,684) |
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As at 31 December 2024 |
- |
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During the prior year, the company received funds of £881,684 in advance of an issue of shares. During the year ended 31 December 2024, these funds were converted into shares (note 9).