Silverfin false false 31/12/2024 17/10/2023 31/12/2024 J C Birt 17/10/2023 M P Dale 08/11/2024 17/10/2023 D C Venables 17/04/2024 30 May 2025 The principal activity of the company during the fiscal period was to perform research and experimental development on biotechnology.

The company was incorporated on 17 October 2023 and began trading at that point.
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Company No: SC786187 (Scotland)

CONCINNITY GENETICS LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 17 OCTOBER 2023 TO 31 DECEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

CONCINNITY GENETICS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 17 OCTOBER 2023 TO 31 DECEMBER 2024

Contents

CONCINNITY GENETICS LTD

BALANCE SHEET

AS AT 31 DECEMBER 2024
CONCINNITY GENETICS LTD

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2024
Note 31.12.2024
£
Current assets
Debtors 3 31,743
Cash at bank and in hand 2,742,203
2,773,946
Creditors: amounts falling due within one year 4 ( 56,022)
Net current assets 2,717,924
Total assets less current liabilities 2,717,924
Net assets 2,717,924
Capital and reserves
Called-up share capital 5 50
Share premium account 3,080,517
Profit and loss account ( 362,643 )
Total shareholders' funds 2,717,924

For the financial period 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:

The financial statements of Concinnity Genetics Ltd (registered number: SC786187) were approved and authorised for issue by the Board of Directors on 30 May 2025. They were signed on its behalf by:

J C Birt
Director
CONCINNITY GENETICS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 17 OCTOBER 2023 TO 31 DECEMBER 2024
CONCINNITY GENETICS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 17 OCTOBER 2023 TO 31 DECEMBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Concinnity Genetics Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is C/O Cms Cameron Mckenna Nabarro Olswang Llp 4th Floor, Saltire Court, 20 Castle Terrace, Edinburgh, EH1 2EN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

Reporting period length is 17 October 2023 - 31 December 2024.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

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

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

Period from
17.10.2023 to
31.12.2024
Number
Monthly average number of persons employed by the Company during the year, not including directors 2

3. Debtors

31.12.2024
£
Other debtors 31,743

4. Creditors: amounts falling due within one year

31.12.2024
£
Trade creditors 3,182
Other creditors 52,840
56,022

5. Called-up share capital

31.12.2024
£
Allotted, called-up and fully-paid
20,723 A Shares ordinary shares of £ 0.001 each 21
28,974 Ordinary Shares shares of £ 0.001 each 29
50