Tangent Reprofiling Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 06704572 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

TANGENT REPROFILING LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G Stoloff

J S Synge

Dr S Dilly

Dr P Taylor

REGISTERED OFFICE:

London BioScience Innovation Centre

2 Royal Callege Street

London

NW1 0NH

REGISTERED NUMBER:

06704572 (England and Wales)

ACCOUNTANTS:

TC Group

Baird House

Seebeck Place

Knowlhill

Milton Keynes

Buckinghamshire

MK5 8FR

FIXED ASSETS

Intangible assets

4

-

Investments

5

40

CURRENT ASSETS

Debtors

6

394

636

Cash at bank

748

3,775

1,142

4,411

CREDITORS

Amounts falling due within one year

7

2,000

2,250

NET CURRENT (LIABILITIES)/ASSETS

(858

)

2,161

TOTAL ASSETS LESS CURRENT LIABILITIES

(818

)

2,201

CAPITAL AND RESERVES

Called up share capital

8

499

Share premium

1,012,855

Retained earnings

(1,014,172

)

(1,011,153

)

SHAREHOLDERS' FUNDS

(818

)

2,201

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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 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 Statement of Comprehensive Income has not been delivered.

Approved on behalf of the Board of Directors and authorised for issue on 4 August 2025 and were signed on its behalf by:

G Stoloff - Director

1.	STATUTORY INFORMATION

Tangent Reprofiling Ltd is a private company, limited by shares , 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

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 historical cost convention.

There were no material departures from this standard.

Patents and licences

Expenditure on acquiring patents and licences are capitalised and treated as an intangible fixed asset then amortised over their estimated economic lives.. Amortisation will commence with the commencement of application of the intangible asset. Provision is made for any impairment.

Investments in associates

Investments in subsidiary and associate undertakings are measured at cost less impairment.

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

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 have been enacted or substantively enacted by the year end 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 probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development

Expenditure on research and development is written off in the year it is incurred, except that the development expenditure incurred on an individual project is carried forward when its future recoverability can reasonably be regarded as assured.

Pension costs and other post-retirement benefits

The company makes contributions to employee pension schemes. Contributions payable in the year are charged in the profit and loss account.

Going concern

The accounts have been prepared on a going concern basis despite the small balance sheet deficiency, as the shareholder Peptcell Limited, will continue to provide future funding, sufficient to enable the company to meet its expenditure requirements and commitments as and when they fall due, for at least the next 12 months.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 January 2024

and 31 December 2024

8,280

AMORTISATION

At 1 January 2024

and 31 December 2024

8,280

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 January 2024

and 31 December 2024

40

NET BOOK VALUE

At 31 December 2024

40

At 31 December 2023

40

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Associated company

Valiseek Ltd

Registered office: Stonebridge House, Chelmsford Road, Hatfield Heath. CM22 7BD

Nature of business: Drug development

%

Class of shares:

holding

B Ordinary share of £0.01 each

37.00

2024

2023

£

Aggregate capital and reserves

(533,734

)

(521,587

)

Loss for the year

(12,147

)

(49,068

)

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Other debtors

394

636

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Other creditors

2,000

2,250

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

32,241

A Ordinary

£0.01

322

17,745

Ordinary

£0.01

177

499