Acorah Software Products - Accounts Production 16.3.350 false true true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 08616211 Mr Manfred Rüdiger Mr David Schilansky Ariceum Therapeutics GmbH Robert-Rossle-Str. 10, 13125 Berlin, Germany true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08616211 2023-12-31 08616211 2024-12-31 08616211 2024-01-01 2024-12-31 08616211 frs-core:CurrentFinancialInstruments 2024-12-31 08616211 frs-core:Non-currentFinancialInstruments 2024-12-31 08616211 frs-core:BetweenOneFiveYears 2024-12-31 08616211 frs-core:ComputerEquipment 2024-12-31 08616211 frs-core:ComputerEquipment 2024-01-01 2024-12-31 08616211 frs-core:ComputerEquipment 2023-12-31 08616211 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 08616211 frs-core:OtherResidualIntangibleAssets 2024-12-31 08616211 frs-core:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 08616211 frs-core:OtherResidualIntangibleAssets 2023-12-31 08616211 frs-core:WithinOneYear 2024-12-31 08616211 frs-core:SharePremium 2024-12-31 08616211 frs-core:ShareCapital 2024-12-31 08616211 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 08616211 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08616211 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 08616211 frs-bus:SmallEntities 2024-01-01 2024-12-31 08616211 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 08616211 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 08616211 1 2024-01-01 2024-12-31 08616211 frs-core:CostValuation 2023-12-31 08616211 frs-core:CostValuation 2024-12-31 08616211 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 08616211 frs-core:ProvisionsForImpairmentInvestments 2024-12-31 08616211 frs-bus:Director1 2024-01-01 2024-12-31 08616211 frs-bus:Director2 2024-01-01 2024-12-31 08616211 frs-countries:EnglandWales 2024-01-01 2024-12-31 08616211 2022-12-31 08616211 2023-12-31 08616211 2023-01-01 2023-12-31 08616211 frs-core:CurrentFinancialInstruments 2023-12-31 08616211 frs-core:Non-currentFinancialInstruments 2023-12-31 08616211 frs-core:BetweenOneFiveYears 2023-12-31 08616211 frs-core:WithinOneYear 2023-12-31 08616211 frs-core:SharePremium 2023-12-31 08616211 frs-core:ShareCapital 2023-12-31 08616211 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 08616211
Theragnostics Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Finerva
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 08616211
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 302,331
Tangible Assets 5 421 -
Investments 6 1 1
422 302,332
CURRENT ASSETS
Debtors 7 5,565,647 4,499,299
Cash at bank and in hand 253,242 521,638
5,818,889 5,020,937
Creditors: Amounts Falling Due Within One Year 8 (927,740 ) (501,913 )
NET CURRENT ASSETS (LIABILITIES) 4,891,149 4,519,024
TOTAL ASSETS LESS CURRENT LIABILITIES 4,891,571 4,821,356
Creditors: Amounts Falling Due After More Than One Year 9 (3,180,228 ) (3,129,625 )
NET ASSETS 1,711,343 1,691,731
CAPITAL AND RESERVES
Called up share capital 10 1,342,597 42,597
Share premium account 9,231,865 9,231,865
Profit and Loss Account (8,863,119 ) (7,582,731 )
SHAREHOLDERS' FUNDS 1,711,343 1,691,731
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For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors on 21 May 2025 and were signed on its behalf by:
Mr David Schilansky
Director
21 May 2025
The notes on pages 3 to 7 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Theragnostics Limited is a private company,  limited by shares, incorporated in England & Wales, registered number 08616211 . The registered office is Spaces Oxford Street, Mappin House, 4 Winsley Street, London, W1W 8HF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Going Concern Disclosure
The company’s financial statements have been prepared on a going concern basis on the grounds  that current and future sources of funding or support will be more than adequate for the company’s needs. In assessing going concern, the directors have a reasonable expectation that the company will continue as a going concern and is able to meet all of its obligations as they fall due for a minimum of 12 months from the date of approval of these financial statements.
2.3. Turnover
Revenue is recognised to the extent there is probable 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.

Revenue from a contract to provide services is recognised in the period in which the services are provided.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Research and development costs

Expenditure on research activities is recognised within profit or loss as an expense is incurred.

Purchased intangible assets consist of licences

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

All intangible assets are considered to have a finite useful life. The useful life of an intangible asset that arises from contractual or other legal rights does not exceed the period of the contractual or other legal rights, but may
be shorter depending on the period over which the entity expects to use the asset.

The estimated useful lives are as follows:

Licences – 5 years on a straight line basis

At each reporting date the company assesses whether there is any indication of impairment. If such indications exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. Any impairment loss is recognised immediately as an expense within profit or loss.

2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.  Depreciation  is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 3 years
2.6. Leasing and Hire Purchase Contracts
Leases in which the company assumes substantially all the risks and rewards of ownership of the leased asset are classified as finance leases. All other leases are classified as operating leases.

Payments (excluding costs for services and insurance) made under operating leases are recognised in the profit and loss account on a straight-line basis over the term of the lease unless the payments to the lessor are structured to increase in line with expected general inflation; in which case the payments related to the structured increases are recognised as incurred. Lease incentives received are recognised in profit and loss over the term of the lease as an integral part of the total lease expenses.
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2.7. Financial Instruments
Trade and other debtors / creditors
Trade and other debtors are recognised initially at transaction prices less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.
Investments
Investments in subsidiaries are held at cost less accumulated impairment losses.
Impairment of financial assets
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised within profit or loss.
For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset’s carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.
2.8. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date.   Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.9. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss.
2.10. Pensions
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 in 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 in the periods during which services are rendered by employees.
2.11. Related party exemption
The company has taken advantage of the exemption available under FRS 102 not to disclose related party transactions with wholly owned subsidiaries within the group.
3. Average Number of Employees
Average number of employees during the year was 2 (2023: 3)
2 3
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4. Intangible Assets
Other
£
Cost
As at 1 January 2024 2,608,045
As at 31 December 2024 2,608,045
Amortisation
As at 1 January 2024 2,305,714
Provided during the period 302,331
As at 31 December 2024 2,608,045
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 302,331
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2024 -
Additions 505
As at 31 December 2024 505
Depreciation
As at 1 January 2024 -
Provided during the period 84
As at 31 December 2024 84
Net Book Value
As at 31 December 2024 421
As at 1 January 2024 -
6. Investments
Other
£
Cost
As at 1 January 2024 1
As at 31 December 2024 1
Provision
As at 1 January 2024 -
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 1
As at 1 January 2024 1
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7. Debtors
2024 2023
as restated
£ £
Due within one year
Amounts owed by group undertakings 5,014,669 3,679,016
Other debtors 550,978 820,283
5,565,647 4,499,299
Included within debtors is an amount of £ NIL (2023: £371) due from a director. This amount was repaid to the company in February 2024 and was unsecured, interest free and repayable on demand.
8. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Trade creditors 316,851 132,621
Bank loans and overdrafts 10,000 10,000
Amounts owed to group undertakings 113,596 35,908
Other creditors 481,485 315,962
Taxation and social security 5,808 7,422
927,740 501,913
Included within other creditors are outstanding pension contributions of £514 (31 December 2023: £771)
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
as restated
£ £
Bank loans 4,167 14,167
Amounts owed to group undertakings 3,176,061 3,115,458
3,180,228 3,129,625
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
as restated
£ £
Not later than one year 1,944 3,364
Later than one year and not later than five years 220 2,598
2,164 5,962
12. Post Balance Sheet Events
After 31 December 2024, the company received additional funding of £400,000 from the parent company Aricium Therapeutics GmBH by the issue of further share capital. 
13. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Ariceum Therapeutics GmbH . Ariceum Therapeutics GmbH was incorporated in Germany. Copies of the group accounts may be obtained from the secretary, Robert-Rossle-Str. 10, 13125 Berlin, Germany . The ultimate controlling party is Ariceum Therapeutics GmbH who controls 100% of the shares of Theragnostics Limited .
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14. Prior year adjustment
A prior year adjustment has been included within these financial statements to recognise the R&D tax credit claim, and associated fees, for 2023 within the figures for the year ended 31 December 2023 resulting in the following:
1. Corporation tax debtor has increased from £130,774 to £267,330
2. Corporation tax credit for year ending 31 December 2023 has increased from £1,911 to £138,467
3. Accruals have increased from £284,044 to £304,527 and
4. Consultancy fees have increased by £20,483.
The comparative figures for the year ended 31 December 2023 have been restated accordingly.
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