Sentinel Photonics Limited
Registered number: 12163852
Statement of Financial Position
as at 31 December 2024
Notes 31/12/24 31/3/24
£ £
Fixed assets
Intangible assets 3 27,023 25,326
Tangible assets 4 75,445 75,817
102,468 101,143
Current assets
Stocks 382,361 143,784
Debtors 5 208,351 1,537,119
Cash at bank and in hand 556,725 792,428
1,147,437 2,473,331
Creditors: amounts falling due within one year 6 (1,898,389) (631,277)
Net current (liabilities)/assets (750,952) 1,842,054
Total assets less current liabilities (648,484) 1,943,197
Creditors: amounts falling due after more than one year 7 (485,411) (2,107,641)
Net liabilities (1,133,895) (164,444)
Capital and reserves
Called up share capital 670 670
Share premium 735,944 735,944
Profit and loss account (1,870,509) (901,058)
Shareholders' funds (1,133,895) (164,444)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr Christopher David Burgess
Director
Approved by the board on 10 June 2025
Sentinel Photonics Limited
Notes to the Accounts
for the period from 1 April 2024 to 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 33% straight line
Research and development
Research expenditure is written off in the period in which it is incurred.

Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met:

• It is technically feasible to complete the intangible asset so that it will be available for use or sale;
• There is the intention to complete the intangible asset and use or sell it;
• There is the ability to use or sell the intangible asset;
• The use or sale of the intangible asset will generate probable future economic benefits;
• There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and
• The expenditure attributable to the intangible asset during its development can be measured reliably.

Expenditure that does not meet the above criteria is expensed as incurred.
Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Employees and directors 31/12/24 31/3/24
Number Number
Average number of directors and persons employed by the company 17 12
3 Intangible fixed assets £
Patents, trademarks and licences:
Cost
At 1 April 2024 28,012
Additions 8,678
At 31 December 2024 36,690
Amortisation
At 1 April 2024 2,686
Provided during the period 6,981
At 31 December 2024 9,667
Net book value
At 31 December 2024 27,023
At 31 March 2024 25,326
Patents, trademarks and licences are being written off in annual instalments over its estimated economic life of 3 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024 104,488
Additions 30,785
Disposals (1,083)
At 31 December 2024 134,190
Depreciation
At 1 April 2024 28,671
Charge for the period 30,815
On disposals (741)
At 31 December 2024 58,745
Net book value
At 31 December 2024 75,445
At 31 March 2024 75,817
5 Debtors 31/12/24 31/3/24
£ £
Trade debtors 126,000 1,467,000
Prepayments 66,461 69,744
Other debtors 15,890 375
208,351 1,537,119
6 Creditors: amounts falling due within one year 31/12/24 31/3/24
£ £
Trade creditors 53,535 121,963
Accruals 46,529 204,569
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,697,111 -
Other taxes and social security costs 42,677 294,031
Other creditors 58,537 10,714
1,898,389 631,277
7 Creditors: amounts falling due after one year 31/12/24 31/3/24
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 1,590,884
Other creditors 485,411 516,757
485,411 2,107,641
8 Related party transactions
Ploughshare Innovations Ltd, a shareholder of the company, provided a loan of £1,500,000. Interest is charged on this loan at a rate of 5% above the Bank of England base rate. In the event of a fundraise Ploughshare may instruct for the loan and interest charges to be repaid or the loan may be converted into ordinary shares at 0.8 of the fundraising price.
9 Other information
Sentinel Photonics Limited is a private company limited by shares and incorporated in England. Its registered office is:
Porton Science Park
Bybrook Road
Porton Down
SP4 0BF
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