Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Sakura Holloway 01/06/2025 Yves Le Goff 03/07/2021 Guy Murray Edwin Pengelley 29/08/2024 01/07/2023 Sandy Blackadder Primrose 15/09/2021 Dr Andrew Mark Shaw 18/12/2008 Dr Jonathan Gregory Clifford Snicker 01/04/2023 Robert James Warner 31/03/2024 01/04/2023 Dr A M Shaw 10 June 2025 The principal activity of the company in the year under review was that of the development and supply of blood testing devices. 06550714 2024-12-31 06550714 bus:Director1 2024-12-31 06550714 bus:Director2 2024-12-31 06550714 bus:Director3 2024-12-31 06550714 bus:Director4 2024-12-31 06550714 bus:Director5 2024-12-31 06550714 bus:Director6 2024-12-31 06550714 bus:Director7 2024-12-31 06550714 2023-12-31 06550714 core:CurrentFinancialInstruments 2024-12-31 06550714 core:CurrentFinancialInstruments 2023-12-31 06550714 core:Non-currentFinancialInstruments 2024-12-31 06550714 core:Non-currentFinancialInstruments 2023-12-31 06550714 core:ShareCapital 2024-12-31 06550714 core:ShareCapital 2023-12-31 06550714 core:SharePremium 2024-12-31 06550714 core:SharePremium 2023-12-31 06550714 core:RetainedEarningsAccumulatedLosses 2024-12-31 06550714 core:RetainedEarningsAccumulatedLosses 2023-12-31 06550714 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 06550714 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 06550714 core:LeaseholdImprovements 2023-12-31 06550714 core:PlantMachinery 2023-12-31 06550714 core:FurnitureFittings 2023-12-31 06550714 core:ComputerEquipment 2023-12-31 06550714 core:LeaseholdImprovements 2024-12-31 06550714 core:PlantMachinery 2024-12-31 06550714 core:FurnitureFittings 2024-12-31 06550714 core:ComputerEquipment 2024-12-31 06550714 bus:OrdinaryShareClass1 2024-12-31 06550714 bus:OrdinaryShareClass2 2024-12-31 06550714 2024-01-01 2024-12-31 06550714 bus:FilletedAccounts 2024-01-01 2024-12-31 06550714 bus:SmallEntities 2024-01-01 2024-12-31 06550714 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 06550714 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 06550714 bus:Director1 2024-01-01 2024-12-31 06550714 bus:Director2 2024-01-01 2024-12-31 06550714 bus:Director3 2024-01-01 2024-12-31 06550714 bus:Director4 2024-01-01 2024-12-31 06550714 bus:Director5 2024-01-01 2024-12-31 06550714 bus:Director6 2024-01-01 2024-12-31 06550714 bus:Director7 2024-01-01 2024-12-31 06550714 bus:Director8 2024-01-01 2024-12-31 06550714 core:DevelopmentCostsCapitalisedDevelopmentExpenditure core:TopRangeValue 2024-01-01 2024-12-31 06550714 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 06550714 core:PlantMachinery core:TopRangeValue 2024-01-01 2024-12-31 06550714 core:FurnitureFittings 2024-01-01 2024-12-31 06550714 core:ComputerEquipment core:TopRangeValue 2024-01-01 2024-12-31 06550714 2023-01-01 2023-12-31 06550714 core:LeaseholdImprovements 2024-01-01 2024-12-31 06550714 core:PlantMachinery 2024-01-01 2024-12-31 06550714 core:ComputerEquipment 2024-01-01 2024-12-31 06550714 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 06550714 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 06550714 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 06550714 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 06550714 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 06550714 (England and Wales)

ATTOMARKER LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

ATTOMARKER LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

ATTOMARKER LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
ATTOMARKER LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 6,906,677 6,067,452
Tangible assets 4 39,362 36,210
6,946,039 6,103,662
Current assets
Stocks 129,148 144,757
Debtors 5 230,612 113,854
Cash at bank and in hand 6 285,310 812,511
645,070 1,071,122
Creditors: amounts falling due within one year 7 ( 4,101,928) ( 4,563,088)
Net current liabilities (3,456,858) (3,491,966)
Total assets less current liabilities 3,489,181 2,611,696
Creditors: amounts falling due after more than one year 8 ( 419,977) 0
Net assets 3,069,204 2,611,696
Capital and reserves
Called-up share capital 10 65 63
Share premium account 3,410,234 3,135,980
Profit and loss account ( 341,095 ) ( 524,347 )
Total shareholders' funds 3,069,204 2,611,696

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:

The financial statements of Attomarker Limited (registered number: 06550714) were approved and authorised for issue by the Board of Directors on 10 June 2025. They were signed on its behalf by:

Dr A M Shaw
Director
ATTOMARKER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
ATTOMARKER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

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

General information and basis of accounting

Attomarker Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1a Lamarr Building 3 Babbage Way, Exeter Science Park, Exeter, EX5 2FN, 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 Statement of Financial Position 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.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

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 Statement of Financial Position date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Upon completion of the project, amortisation is to be charged on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs 5 years straight line
Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, except where the directors are satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the Company is expected to benefit. This period is between three and five years. Provision is made for any impairment.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line/reducing balance basis over its expected useful life, as follows:

Leasehold improvements depreciated over the life of the lease
Plant and machinery 4 years straight line
Fixtures and fittings 15 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

Convertible loan notes
The component parts of compound instruments issued by the Company are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangement. On initial recognition, the financial liability component is recorded at its fair value. At the date of issue, in the case of a convertible bond denominated in the functional currency of the issuer that may be converted into a fixed number of equity shares, the fair value of the liability component is estimated using the prevailing market interest rate for a similar non-convertible instrument. The equity component is determined by deducting the amount of the liability component from the fair value of the compound instrument as a whole. This is recognised and included in the equity reserve within equity and is not subsequently remeasured.

Transaction costs are apportioned between the liability and equity components of the convertible instrument based on their relative fair values at the date of issue. The portion relating to the equity component is charged directly against equity.

Government grants

Government grants are recognised based on the performance model and are measured 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.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 11 7

3. Intangible assets

Development costs Total
£ £
Cost
At 01 January 2024 6,067,452 6,067,452
Additions 839,225 839,225
At 31 December 2024 6,906,677 6,906,677
Accumulated amortisation
At 01 January 2024 0 0
At 31 December 2024 0 0
Net book value
At 31 December 2024 6,906,677 6,906,677
At 31 December 2023 6,067,452 6,067,452

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 January 2024 32,235 116,448 4,996 13,031 166,710
Additions 0 8,425 2,660 3,611 14,696
At 31 December 2024 32,235 124,873 7,656 16,642 181,406
Accumulated depreciation
At 01 January 2024 9,201 109,521 1,497 10,281 130,500
Charge for the financial year 4,242 4,567 742 1,993 11,544
At 31 December 2024 13,443 114,088 2,239 12,274 142,044
Net book value
At 31 December 2024 18,792 10,785 5,417 4,368 39,362
At 31 December 2023 23,034 6,927 3,499 2,750 36,210

5. Debtors

2024 2023
£ £
Trade debtors 10,579 8,983
Prepayments and accrued income 15,465 18,861
Other debtors 204,568 86,010
230,612 113,854

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 285,310 812,511

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 97,180 438,544
Convertible loan notes 3,258,085 3,059,932
Other loans 624,866 574,189
Accruals and deferred income 115,236 388,739
Other taxation and social security 5,768 15,220
Other creditors 793 86,464
4,101,928 4,563,088

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Trade creditors 419,977 0

There are no amounts included above in respect of which any security has been given by the small entity.

9. Convertible loans

The Company issued convertible loan notes between 04/12/2020 and 29/03/2022 of £2,529,490. The convertible loan notes are convertible into ordinary shares of the Company at any time between the date of issue of the notes and their settlement date. Interest of 8 per cent will be accrued annually up until that settlement date.

The net proceeds received from the issue of the convertible loan notes have been split between the liability element and an equity component, representing the fair value of the embedded option to convert the liability into equity of the Company, as follows:

2024
£
Nominal value of convertible loan notes issued (2,529,490)
Equity component 0
Liability components at date of issue (2,529,490)
Interest charged (728,595)
Interest paid 0
Liability component at 31 December 2024 ( 3,258,085)

The liability component has been classified as basic and is consequently measured at amortised cost. The interest charged for the financial year is calculated by applying an effective interest rate of 8 per cent to the liability component.

10. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
5,759 Ordinary shares of £ 0.10 each (2023: 5,586 shares of £ 0.10 each) 57.59 55.86
688 Deferred ordinary shares of £ 0.10 each 6.88 6.88
64.47 62.74

11. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 157,856 194,999

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as above.

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 793 464

12. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
University of Exeter 74,148 74,148

Other related party transactions

During the year the company had transactions with the following companies of which a Director has an interest in, these all relate to consultancy fees:
Cimelium Consulting Limited £80,000 (2023 : £92,622).
Consultant Hub Ltd £111,650 (2023 : £168,865).
Bunberry Limited £30,220 (2023 : £46,350).
The company also had transactions with Directors that related to consultancy fees, these totalled £71,400. (2023 : £3,630).