| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2025 |
| FOR |
| ENTOTEM LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2025 |
| FOR |
| ENTOTEM LIMITED |
| ENTOTEM LIMITED (REGISTERED NUMBER: 08505500) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| ENTOTEM LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 APRIL 2025 |
| Directors: |
| Registered office: |
| Registered number: |
| Accountants: |
| 10 Stadium Business Court |
| Millennium Way |
| Pride Park |
| Derby |
| Derbyshire |
| DE24 8HP |
| ENTOTEM LIMITED (REGISTERED NUMBER: 08505500) |
| BALANCE SHEET |
| 30 APRIL 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| Fixed assets |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Current assets |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital | 10 |
| Share premium |
| Retained earnings | ( |
) | ( |
) |
| Shareholders' funds |
| 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 were approved by the Board of Directors and authorised for issue on |
| ENTOTEM LIMITED (REGISTERED NUMBER: 08505500) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2025 |
| 1. | STATUTORY INFORMATION |
| Entotem Limited is a private company, limited by shares, incorporated in England and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are prepared in sterling, which is the functional currency of the entity. |
| Going concern |
| The financial statements are prepared on a going concern basis as the Directors expect the Company to have the resources necessary to continue in business in the foreseeable future. In making this assessment, the Directors have considered: |
| - the ongoing operational costs of the business, |
| - the ongoing support of shareholders, |
| - confirmation that the existing shareholder loans will be maintained at levels sufficient to meet the ongoing liabilities |
| - cash injection from future rounds of investment and grant awards |
| At the time of approving the financial statements, the directors have proposed detailed forecasts and business plans and have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future with their ongoing support. Therefore the directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
| 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 |
| In preparing the financial statements, management use judgments and estimates that affect the application of accounting policies and reported amounts of assets, liabilities, income and expenses. |
| The review of intangible fixed assets for impairment reflects management's best estimate of the recoverable amount of the cash-generating unit (CGU). A cash-generating unit (CGU) is the smallest group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. Currently, Entotem as a whole is considered as a single CGU because none of the company's assets generate cash inflows mostly independent from other assets. |
| The directors calculation uses the future expected cash flows of the CGU based on financial budgets, discounted to present value using a discount factor at a rate equivalent to interest rates on existing company borrowings. |
| The assessment is carried out at the year end and there is no evidence of impairment for the amounts recognised at 30 April 2025 and 2024. |
| Tangible fixed assets |
| Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Plant and machinery etc - 33.3% on cost |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| ENTOTEM LIMITED (REGISTERED NUMBER: 08505500) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| The deferred tax assets recognised on 30 April 2025, include a relevant amount of tax losses carried forward since incorporation, which management assesses will be utilised by offset against taxable income. The assessment is performed on an annual basis and is based on the budgets and business plans for future years. The assessment period extends to a three year forecast period, as management consider periods beyond this timeframe to uncertain for a reliable assessment of utilisation of tax losses. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| Cost |
| At 1 May 2024 |
| Additions |
| At 30 April 2025 |
| Amortisation |
| At 1 May 2024 |
| Charge for year |
| At 30 April 2025 |
| Net book value |
| At 30 April 2025 |
| At 30 April 2024 |
| ENTOTEM LIMITED (REGISTERED NUMBER: 08505500) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2025 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| £ |
| Cost |
| At 1 May 2024 |
| Additions |
| At 30 April 2025 |
| Depreciation |
| At 1 May 2024 |
| Charge for year |
| At 30 April 2025 |
| Net book value |
| At 30 April 2025 |
| At 30 April 2024 |
| 6. | DEBTORS |
| 2025 | 2024 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Tax |
| VAT |
| Prepayments |
| Amounts falling due after more than one year: |
| Deferred tax asset | 228,000 | 228,000 |
| Aggregate amounts |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Social security and other taxes |
| VAT | 11,245 | - |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans - 1-2 years |
| Other creditors |
| ENTOTEM LIMITED (REGISTERED NUMBER: 08505500) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2025 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
| Amounts included in other creditors relates to two loans: |
| £643,251 (2024: £698,251) is secured by way of a fixed charge over all intellectual property held by the company. |
| £331,950 (2024: £320,512) is secured by way of a fixed charge and floating charges over all the property or undertaking of the company. |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2025 | 2024 |
| £ | £ |
| Within one year |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary A | £10 | 400,000 | 400,000 |
| Ordinary B | £1 | 30,000 | 30,000 |
| Ordinary C | £1 | 15,000 | 15,000 |
| Ordinary D | £1 | 15,000 | 15,000 |
| Ordinary E | £1 | 247,090 | 219,764 |
| 707,090 | 679,764 |
| During the year 27,326 £1 Ordinary E shares were issued at a premium of £442,681. |