Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31true2024-01-01falseresearch and experimental development in natural sciences and engineering.76trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11534992 2024-01-01 2024-12-31 11534992 2023-01-01 2023-12-31 11534992 2024-12-31 11534992 2023-12-31 11534992 c:Director2 2024-01-01 2024-12-31 11534992 d:FurnitureFittings 2024-01-01 2024-12-31 11534992 d:FurnitureFittings 2024-12-31 11534992 d:FurnitureFittings 2023-12-31 11534992 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 11534992 d:ComputerEquipment 2024-01-01 2024-12-31 11534992 d:ComputerEquipment 2024-12-31 11534992 d:ComputerEquipment 2023-12-31 11534992 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 11534992 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 11534992 d:CurrentFinancialInstruments 2024-12-31 11534992 d:CurrentFinancialInstruments 2023-12-31 11534992 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 11534992 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11534992 d:ShareCapital 2024-12-31 11534992 d:ShareCapital 2023-12-31 11534992 d:SharePremium 2024-12-31 11534992 d:SharePremium 2023-12-31 11534992 d:RetainedEarningsAccumulatedLosses 2024-12-31 11534992 d:RetainedEarningsAccumulatedLosses 2023-12-31 11534992 c:OrdinaryShareClass1 2024-01-01 2024-12-31 11534992 c:OrdinaryShareClass1 2024-12-31 11534992 c:OrdinaryShareClass1 2023-12-31 11534992 c:FRS102 2024-01-01 2024-12-31 11534992 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 11534992 c:FullAccounts 2024-01-01 2024-12-31 11534992 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11534992 2 2024-01-01 2024-12-31 11534992 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11534992









SEMARION LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
SEMARION LTD
REGISTERED NUMBER: 11534992

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
135,540
217,770

  
135,540
217,770

CURRENT ASSETS
  

Debtors
  
192,022
151,167

Cash at bank and in hand
  
159,163
785,856

  
351,185
937,023

Creditors: amounts falling due within one year
 5 
(44,000)
(94,870)

NET CURRENT ASSETS
  
 
 
307,185
 
 
842,153

TOTAL ASSETS LESS CURRENT LIABILITIES
  
442,725
1,059,923

  

NET ASSETS
  
442,725
1,059,923


CAPITAL AND RESERVES
  

Called up share capital 
 6 
235
235

Share premium account
  
2,379,463
2,379,463

Profit and loss account
  
(1,936,973)
(1,319,775)

  
442,725
1,059,923


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
Page 1

 
SEMARION LTD
REGISTERED NUMBER: 11534992
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024


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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




T R Vemulkar
Director

Date: 26 August 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
SEMARION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


GENERAL INFORMATION

Semarion Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office address is Salisbury House, Station Road, Cambridge, CB1 2LA.
The functional and presentation currency of the company is GBP.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The financial statements have been prepared on the going concern basis which assumes that the Company will continue as a going concern for the foreseeable future. The trading losses reported to date are consistent with the Company's business plan as it progresses its research and development actvities. 
Given the investment received, together with the development progress achieved, the directors have a reasonable expectation that the Company will be able to meet its liabilites as they fall due for the foreseeable future and therefore continue to adopt the going concern basis. 

 
2.3

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, using the straight-line method.

Depreciation is provided on the following basis:

Lab equipment
-
3 years straight-line
Computer equipment
-
3 years straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
SEMARION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

TURNOVER

Turnover comprises revenue recognised by the Company in respect of the sale of scientific products during the year, exclusive of Value Added Tax and trade discounts. Income is recognised when the goods are delivered to the customer. 

 
2.8

RESEARCH AND DEVELOPMENT

Research and development expenditure is recognised in the Profit and Loss Account in the period in which they are incurred.

 
2.9

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.10

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
SEMARION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.11

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 7 (2023 - 6).

Page 5

 
SEMARION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


TANGIBLE FIXED ASSETS





Lab equipment
Computer equipment
Total

£
£
£



COST OR VALUATION


At 1 January 2024
305,537
7,769
313,306



At 31 December 2024

305,537
7,769
313,306



DEPRECIATION


At 1 January 2024
91,959
3,577
95,536


Charge for the year on owned assets
79,641
2,589
82,230



At 31 December 2024

171,600
6,166
177,766



NET BOOK VALUE



At 31 December 2024
133,937
1,603
135,540


5.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
4,414
47,141

Accruals and deferred income
39,586
47,729

44,000
94,870


Page 6

 
SEMARION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



2,351,430 (2023 - 2,351,430) Ordinary shares of £0.0001 each
235
235



7.


SHARE-BASED PAYMENTS

Share options have been granted to key employees over Ordinary shares. At the balance sheet date, 75,434 had been granted. No share based payment charge has been recognised in respect of these options as it has been assessed as trivial.

 
Page 7