IRIS Accounts Production v25.1.4.42 12391272 Board of Directors 1.1.24 31.12.24 31.12.24 false true false false false true false Ordinary 0.010 Ordinary A 0.010 0.010 0.010 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh123912722023-12-31123912722024-12-31123912722024-01-012024-12-31123912722023-01-31123912722023-02-012023-12-31123912722023-12-3112391272ns15:EnglandWales2024-01-012024-12-3112391272ns14:PoundSterling2024-01-012024-12-3112391272ns10:Director12024-01-012024-12-3112391272ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3112391272ns10:SmallEntities2024-01-012024-12-3112391272ns10:AuditExemptWithAccountantsReport2024-01-012024-12-3112391272ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3112391272ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3112391272ns10:FullAccounts2024-01-012024-12-311239127212024-01-012024-12-3112391272ns10:OrdinaryShareClass12024-01-012024-12-3112391272ns10:OrdinaryShareClass22024-01-012024-12-31123912721ns10:OrdinaryShareClass12024-01-012024-12-3112391272ns10:OrdinaryShareClass2122024-01-012024-12-3112391272ns10:Director22024-01-012024-12-3112391272ns10:Director32024-01-012024-12-3112391272ns10:Director42024-01-012024-12-3112391272ns10:RegisteredOffice2024-01-012024-12-3112391272ns5:CurrentFinancialInstruments2024-12-3112391272ns5:CurrentFinancialInstruments2023-12-3112391272ns5:ShareCapital2024-12-3112391272ns5:ShareCapital2023-12-3112391272ns5:SharePremium2024-12-3112391272ns5:SharePremium2023-12-3112391272ns5:FurtherSpecificReserve1ComponentTotalEquity2024-12-3112391272ns5:FurtherSpecificReserve1ComponentTotalEquity2023-12-3112391272ns5:RetainedEarningsAccumulatedLosses2024-12-3112391272ns5:RetainedEarningsAccumulatedLosses2023-12-3112391272ns5:IntangibleAssetsOtherThanGoodwill2024-01-012024-12-3112391272ns5:IntangibleAssetsOtherThanGoodwill2023-12-3112391272ns5:IntangibleAssetsOtherThanGoodwill2024-12-3112391272ns5:IntangibleAssetsOtherThanGoodwill2023-12-3112391272ns5:PlantMachinery2023-12-3112391272ns5:PlantMachinery2024-01-012024-12-3112391272ns5:PlantMachinery2024-12-3112391272ns5:PlantMachinery2023-12-3112391272ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3112391272ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3112391272ns10:OrdinaryShareClass12024-12-3112391272ns10:OrdinaryShareClass22024-12-31123912721ns10:Director12023-12-31123912721ns10:Director12023-01-31123912721ns10:Director12024-01-012024-12-31123912721ns10:Director12023-02-012023-12-31123912721ns10:Director12024-12-31123912721ns10:Director12023-12-31
REGISTERED NUMBER: 12391272 (England and Wales)

























Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Halocycle Limited

Halocycle Limited (Registered number: 12391272)






Contents of the Financial Statements
for the year ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 7

Halocycle Limited

Company Information
for the year ended 31 December 2024







DIRECTORS: Dr H E G Boyd
Dr J P Robinson
Mr R J A Eastwood
Ms W A Furness





REGISTERED OFFICE: 19 Albion Street
Hull
East Yorkshire
HU1 3TG





REGISTERED NUMBER: 12391272 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Ltd
Chartered Accountants
2 Maple Court
Davenport Street
Macclesfield
Cheshire
SK10 1JE

Halocycle Limited (Registered number: 12391272)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 741,938 370,113
Tangible assets 5 1,465 1,893
743,403 372,006

CURRENT ASSETS
Debtors 6 17,296 25,493
Investments 7 128,188 351,656
Cash at bank 93,451 42,225
238,935 419,374
CREDITORS
Amounts falling due within one year 8 26,031 78,241
NET CURRENT ASSETS 212,904 341,133
TOTAL ASSETS LESS CURRENT
LIABILITIES

956,307

713,139

CAPITAL AND RESERVES
Called up share capital 9 346 324
Share premium 1,129,542 908,554
Other reserves (133 ) 2,620
Retained earnings (173,448 ) (198,359 )
SHAREHOLDERS' FUNDS 956,307 713,139

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 June 2025 and were signed on its behalf by:





Dr H E G Boyd - Director


Halocycle Limited (Registered number: 12391272)

Notes to the Financial Statements
for the year ended 31 December 2024

1. STATUTORY INFORMATION

Halocycle Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future through continued support of the directors. On this basis, the directors believe it appropriate to prepare the accounts on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

When the development costs come into use they will be amortised evenly over their estimated useful life of ten years.

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as shown below.

Plant and machinery - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Halocycle Limited (Registered number: 12391272)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research is written off against profits in the year in which it is incurred. Development expenditure is capitalised and amortised over its useful life.

Development costs that are directly attributable to design, development, testing and implementation of the product owned by the company are recognised as intangible assets when the following criteria are met:

-It is technically feasible to develop the product for it to be used or sold;
-adequate resources are available to complete the development;
-there is an intention to complete the product;
-the company is able to use or sell the product:
-utilising the asset will generate future economic benefit to the company;and
-expenditure on the project can be measured reliably.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Share capital
Ordinary shares and Ordinary A shares are classed as equity.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Interest and dividends receivable

Interest income is recognised using the effective interest method and dividend income is recognised as the company's right to receive payment is established.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024 370,113
Additions 371,825
At 31 December 2024 741,938
NET BOOK VALUE
At 31 December 2024 741,938
At 31 December 2023 370,113

Halocycle Limited (Registered number: 12391272)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 4,039
Additions 690
At 31 December 2024 4,729
DEPRECIATION
At 1 January 2024 2,146
Charge for year 1,118
At 31 December 2024 3,264
NET BOOK VALUE
At 31 December 2024 1,465
At 31 December 2023 1,893

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 17,296 25,493

7. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Listed investments 128,188 351,656

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 14,965 66,274
Taxation and social security 8,039 8,427
Other creditors 3,027 3,540
26,031 78,241

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,463,525 Ordinary 0.000 1 246 235
1,000,999 Ordinary A 0.000 1 100 89
346 324

118,125 Ordinary shares of 0.0001 each were allotted and fully paid for cash at par during the year.

113,594 Ordinary A shares of 0.0001 each were allotted as fully paid at a premium of 1.9454 per share during the year.

Halocycle Limited (Registered number: 12391272)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 December 2024 and the period ended 31 December 2023:

2024 2023
£    £   
Dr H E G Boyd
Balance outstanding at start of year - -
Amounts advanced 8,962 -
Amounts repaid (312 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,650 -

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Halocycle Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Halocycle Limited for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Halocycle Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Halocycle Limited and state those matters that we have agreed to state to the Board of Directors of Halocycle Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Halocycle Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Halocycle Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Halocycle Limited. You consider that Halocycle Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Halocycle Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Bennett Brooks & Co Ltd
Chartered Accountants
2 Maple Court
Davenport Street
Macclesfield
Cheshire
SK10 1JE


6 June 2025