Company registration number: 14746541
Unaudited financial statements
for the year ended 31 March 2025
for
Mignon Technologies Ltd
Pages for filing with the Registrar
Company registration number: 14746541
Mignon Technologies Ltd
Balance sheet
as at 31 March 2025
31 Mar 25 31 Mar 24
Note £ £ £ £
Fixed assets
Intangible assets 4 28,415 -
Tangible assets 5 3,368 2,719
31,783 2,719
Current assets
Debtors 32,702 59,547
Cash at bank and in hand 2,848,637 530,765
2,881,339 590,312
Creditors: amounts falling due within one
year 		(69,582) (83,548)
Net current assets 2,811,757 506,764
Total assets less current liabilities 2,843,540 509,483
Provisions for liabilities (939) -
NET ASSETS 2,842,601 509,483
Capital and reserves
Called up share capital 180 78
Share premium account 4,094,885 -
Other reserves 468,047 760,000
Profit and loss account (1,720,511) (250,595)
TOTAL EQUITY 2,842,601 509,483
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 March 2025.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 14746541
Mignon Technologies Ltd
Balance sheet - continued
as at 31 March 2025
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 5 September 2025 and signed on its behalf by:
Mr N Hurley, Director
5 September 2025
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Mignon Technologies Ltd
Notes to the financial statements
for the year ended 31 March 2025
1 Company information
Mignon Technologies Ltd is a private company registered in England and Wales. Its registered number is 14746541. The company is limited by shares. Its registered office is 3rd Floor Maybrook House, 27- 35 Grainger Street, Newcastle Upon Tyne, NE1 5JE.
2 Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” including the provisions of Section 1A “Small Entities” and the Companies Act 2006. The financial statements have been prepared under the historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Patents and licences - 10% straight line
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Computer equipment - 3 years straight line basis
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Mignon Technologies Ltd
Notes to the financial statements - continued
for the year ended 31 March 2025
2 Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred taxation. Tax is recognised in the Profit and loss account, 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 taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that been enacted or substantively enacted by the balance sheet date and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Critical accounting judgements and estimates
The company issued share options to employees constituting share based payments. FRS 102 requires the company to recognise the fair value of the equity instruments as an additional cost. The fair value of the share options issued has been derived using the entity-specific observable market data. The total additional costs recognised in the profit and loss in respect of these share based payments is £468,047 (2024 - £Nil). There are no other key sources of estimation identified by management other than those detailed in these accounting policies.
4 Average number of employees
During the year the average number of employees was 10 (2024 - 5).
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Mignon Technologies Ltd
Notes to the financial statements - continued
for the year ended 31 March 2025
5 Intangible assets
Other
intangible
assets
£
Cost
Additions 28,415
At 31 March 2025 28,415
Amortisation
At 31 March 2025 -
Net book value
At 31 March 2025 28,415
At 31 March 2024 -
6 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 April 2024 2,863
Additions 2,078
At 31 March 2025 4,941
Depreciation
At 1 April 2024 144
Charge for year 1,429
At 31 March 2025 1,573
Net book value
At 31 March 2025 3,368
At 31 March 2024 2,719
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Mignon Technologies Ltd
Notes to the financial statements - continued
for the year ended 31 March 2025
7 Share capital
At 31 March 2025, the company's allotted, issued and fully paid share capital was as follows:

• 1,073,914 Ordinary shares of £0.0001 each, total nominal value £107 (2024 - £78)
• 730,951 A Ordinary shares of £0.0001 each, total nominal value £73 (2024 - £Nil)

Aggregate nominal value at 31 March 2025: £180 (2024 - £78)

During the year, the company issued the following shares:
• On 19 September 2024, 4,000 Ordinary shares of £0.0001 each, having an aggregate nominal value of £0.40, were allotted for an aggregate consideration of £20,000. 
• On 30 December 2024, 233,892 Ordinary shares of £0.0001 each, having an aggregate nominal value of £23.39, were issued following the conversion of £835,000 SAFE investments.
• On 30 December 2024, 56,022 Ordinary shares of £0.0001 each, having an aggregate nominal value of £5.60, were allotted for an aggregate consideration of £199,999. 
• On 30 December 2024, 666,666 A Ordinary shares of £0.0001 each, having an aggregate nominal value of £66.67, were allotted for an aggregate consideration of £2,799,997. 
• On 22 January 2025, 64,285 A Ordinary shares of £0.0001 each, having an aggregate nominal value of £6.43, were allotted for an aggregate consideration of £269,997. 

After the year end, the company issued the following shares:
• On 6 June 2025, 119,047 A Ordinary shares of £0.0001 each, having an aggregate nominal value of £11.90, were allotted for an aggregate consideration of £499,997.
8 Share-based payment transactions
Share options
During the year ended 31 March 2025, 210,000 share options were granted (2024 - Nil). None were exercised during the period (2024 - Nil) and none were cancelled during the period (2024 - Nil). At the end of the year, 210,000 share options remained outstanding (2024 - Nil).

The total charge for the year relating to employee share based payment plans was £468,047 (2024 - £Nil) in accordance with the provisions of FRS 102 (Section 1A).

On 23 Aug 2024, the Company commenced the operation of an Enterprise Management Incentive scheme (EMI). At 31 Mar 2025, 170,000 (2024 - Nil) EMI options remained in issue, these are included in the 210,000 total options issued. These options have an exercise price of £0.0001 per share.
9 Simple Agreement for Future Equity
The opening balance of the SAFE at 1 April 2024 was £760,000. During the year, the Company received additional funding of £95,000 under a Simple Agreement for Future Equity (SAFE), bringing the total balance to £855,000.

Under the terms of the SAFE, conversion into equity shares was triggered by a qualifying funding round in which the Company raised at least £2,550,000. The conversion price was set at 85% of the lowest share price in that round, subject to a valuation cap of £5,000,000. The agreement also included a longstop date of 31 March 2025, at which point, in the absence of a qualifying funding event, conversion would have been based on a valuation determined by the Board. There was no cash repayment obligation attached to the SAFE.

At the reporting date, the qualifying funding round had been completed and all SAFE instruments, totalling £855,000, were converted into equity shares. The amounts have been recognised in share capital and share premium.
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