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Registration number: 12423696

Enhanc3D Genomics Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Enhanc3D Genomics Limited

(Registration number: 12423696)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

46,464

54,469

Tangible assets

5

572,785

720,172

 

619,249

774,641

Current assets

 

Debtors

6

1,488,241

221,732

Cash at bank and in hand

 

1,933,315

6,479,614

 

3,421,556

6,701,346

Creditors: Amounts falling due within one year

7

(346,530)

(355,711)

Net current assets

 

3,075,026

6,345,635

Net assets

 

3,694,275

7,120,276

Capital and reserves

 

Called up share capital

8

4

4

Share premium reserve

11,796,155

11,795,972

Retained earnings

(8,101,884)

(4,675,700)

Shareholders' funds

 

3,694,275

7,120,276

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 June 2025 and signed on its behalf by:
 

.........................................
Dr Dietrich Aziz Stephan
Director

 

Enhanc3D Genomics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Suite 1, The Jeffreys Building
St John's Innovation Park
Cowley Road
Cambridge
CB4 0DS

These financial statements were authorised for issue by the Board on 4 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Enhanc3D Genomics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer Equipment

33.33% straight line

Fixtures & Fittings

25% straight line

Lab Equipment

25% straight line

Improvement to Leasehold Property

20% straight line - remaining life of the lease

Development costs

Research & Development costs are charged to the profit and loss account as they are incurred.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

IP Assets

10% straight line

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Enhanc3D Genomics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 28 (2023 - 21).

4

Intangible assets

I P assets
 £

Total
£

Cost or valuation

At 1 January 2024

80,055

80,055

At 31 December 2024

80,055

80,055

Amortisation

At 1 January 2024

25,586

25,586

Amortisation charge

8,005

8,005

At 31 December 2024

33,591

33,591

Carrying amount

At 31 December 2024

46,464

46,464

At 31 December 2023

54,469

54,469

 

Enhanc3D Genomics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Tangible assets

Improvements to leasehold property
£

Computer equipment & fixtures & fittings
 £

Equipment
£

Total
£

Cost or valuation

At 1 January 2024

116,734

118,432

582,596

817,762

Additions

-

20,160

50,186

70,346

Disposals

-

-

(3,260)

(3,260)

At 31 December 2024

116,734

138,592

629,522

884,848

Depreciation

At 1 January 2024

11,673

31,326

54,591

97,590

Charge for the year

39,407

33,909

141,157

214,473

At 31 December 2024

51,080

65,235

195,748

312,063

Carrying amount

At 31 December 2024

65,654

73,357

433,774

572,785

At 31 December 2023

105,061

87,106

528,005

720,172

6

Debtors

2024
£

2023
£

Trade debtors

-

1,200

Prepayments

293,869

195,855

Other debtors

1,194,372

24,677

1,488,241

221,732

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

201,414

18,008

Taxation and social security

63,282

56,713

Accruals and deferred income

78,223

256,882

Other creditors

3,611

24,108

346,530

355,711

 

Enhanc3D Genomics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £0.000001 each

809,516

0.81

791,141

0.79

Deferred of £0.000001 each

99,900

0.10

99,900

0.10

Seed 1 of £0.000001 each

671,238

0.67

671,238

0.67

Seed 2 of £0.000001 each

447,492

0.45

447,492

0.45

A Ordinary of £0.000001 each

2,105,809

2.11

2,105,809

2.11

 

4,133,955

4.13

4,115,580

4.12

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £441,181 (2023 - £601,611) which relates to the lease of company premises.