Registration number: 10842271

The Vaccine Group Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

The Vaccine Group Limited

Company Information

Directors

Dr M Jarvis Mr M C White Dr J S Salt Prof R Fern

Registered office

The Officers' Mess Royston Road Duxford Cambridge England CB22 4QH

Accountants

Thompson Jenner LLP Chartered Accountants 28 Alexandra Terrace Exmouth Devon EX8 1BD

The Vaccine Group Limited

(Registration number: 10842271)
Balance Sheet as at 30 June 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	143,034	130,472
Tangible assets	5	21,636	17,892
		164,670	148,364
Current assets
Debtors	6	174,290	184,562
Cash at bank and in hand		51,741	71,550
		226,031	256,112
Creditors: Amounts falling due within one year	7	(1,077,074)	(772,890)
Net current liabilities		(851,043)	(516,778)
Net liabilities		(686,373)	(368,414)
Capital and reserves
Called up share capital		126	125
Share premium reserve		925,769	925,769
Other reserves		56,420	52,286
Retained earnings		(1,668,688)	(1,346,594)
Shareholders' deficit		(686,373)	(368,414)

The Vaccine Group Limited

(Registration number: 10842271)
Balance Sheet as at 30 June 2025

For the financial year ending 30 June 2025 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 12 August 2025 and signed on its behalf by:
 

......................................... Dr J S Salt Director

The Vaccine Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

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:
The Officers' Mess Royston Road
Duxford
Cambridge
England
CB22 4QH

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.

Going concern

The directors have acknowledged the negative reserves at the balance sheet date.

Post year-end the company has secured additional funds to support its liabilities as they fall due.

The directors remain confident that additional capital will be raised to ensure that the company is able to continue trading and meet its liabilities.

The accounts have therefore been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods, provision of services and grant income 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.

The Vaccine Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Other grants

Grants have been recognised under the performance model and are credited to income
when all performance conditions have been met in full.

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 and deferred 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.

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.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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
Plant and machinery	Straight line over 5 years
Office equipment	Straight line over 2 years

The Vaccine Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

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
Patents	Straight line over 10 years after successful application
Licences	Straight line over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

The Vaccine Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 9 (2024 - 10).

The Vaccine Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

4	Intangible assets

	Trademarks, patents and licenses  £	Total £
Cost or valuation
At 1 July 2024	174,903	174,903
Additions acquired separately	16,127	16,127
At 30 June 2025	191,030	191,030
Amortisation
At 1 July 2024	44,431	44,431
Amortisation charge	3,565	3,565
At 30 June 2025	47,996	47,996
Carrying amount
At 30 June 2025	143,034	143,034
At 30 June 2024	130,472	130,472

The Vaccine Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

5	Tangible assets

	Furniture, fittings and equipment  £	Plant & Machinery £	Total £
Cost or valuation
At 1 July 2024	12,292	52,782	65,074
Additions	-	11,450	11,450
At 30 June 2025	12,292	64,232	76,524
Depreciation
At 1 July 2024	12,221	34,961	47,182
Charge for the year	71	7,635	7,706
At 30 June 2025	12,292	42,596	54,888
Carrying amount
At 30 June 2025	-	21,636	21,636
At 30 June 2024	71	17,821	17,892

6

Debtors

	2025 £	2024 £
Other debtors	155,036	165,940
Prepayments and accrued income	19,254	18,622
Total current trade and other debtors	174,290	184,562

7

Creditors

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	726,201	541,348
Trade creditors		276,252	207,412
Taxation and social security		27,023	10,881
Other creditors		42,535	8,087
Accrued expenses		5,063	5,162
		1,077,074	772,890

The Vaccine Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

2025 £

2024 £

8	Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Other loans	110,007	101,479
Other borrowings	616,194	439,869
	726,201	541,348