Eleusis Holdings Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 10809365 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

ELEUSIS HOLDINGS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M J Norris

C B F Mellen

REGISTERED OFFICE:

83 Cambridge Street

Pimlico

London

SW1V 4PS

REGISTERED NUMBER:

10809365 (England and Wales)

ACCOUNTANTS:

George Hay & Company

Chartered Accountants

83 Cambridge Street

London

SW1V 4PS

FIXED ASSETS

Investments

4

10,209,192

CURRENT ASSETS

Debtors

5

22,258,919

22,214,613

Cash and cash equivalents

20,853

33,538

22,279,772

22,248,151

CREDITORS

Amounts falling due within one year

6

1,565,419

1,415,131

NET CURRENT ASSETS

20,714,353

20,833,020

TOTAL ASSETS LESS CURRENT
LIABILITIES

30,923,545

31,042,212

CREDITORS

Amounts falling due after more than one year

7

9,444,050

NET ASSETS

21,479,495

21,598,162

CAPITAL AND RESERVES

Called up share capital

298

Share premium

34,501,616

Share-based payment reserve

5,941,581

Capital contribution reserve

677,664

338,151

Retained earnings

(19,641,664

)

(19,183,484

)

SHAREHOLDERS' FUNDS

21,479,495

21,598,162

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18th September 2025 and were signed on its behalf by:

M J Norris - Director

1.	STATUTORY INFORMATION

Eleusis Holdings Limited 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 as modified by the revaluation of certain assets.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company has obtained confirmations and assurances from its group undertakings that they will continue to support the company for at least twelve months from the signing of these financial statements and meet all third party liabilities as they become due. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Investments in subsidiaries

Investments in subsidiary undertakings are initially measured at cost, and any revaluation is recognised through the profit and loss account.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. 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 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

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

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.

Share based payments

Equity-settled share-based payments for the employees of the company and group entities are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the Black Scholes model, and the assumptions used in calculating the fair value of equity-settled awards represent management's best estimates and involve inherent uncertainties and the application of management's judgement.

The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.

When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value.

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST OR VALUATION

At 1st January 2024

and 31st December 2024

10,209,192

NET BOOK VALUE

At 31st December 2024

10,209,192

At 31st December 2023

10,209,192

Cost or valuation at 31st December 2024 is represented by:

Shares in

group

undertaking

£

Valuation in 2023

10,209,192

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Amounts owed by group undertakings

22,230,015

22,176,274

Other debtors

1,776

-

Other Loan

26,625

VAT

503

9,147

Prepayments

-

2,567

22,258,919

22,214,613

Loan amounts owed are shown net of the unrealised gain/(loss) based on the fair value of the shares used as security. The gross amount receivable as of 31 December 2024 was £270,653 (2023: £270,653). The company expects the loan to be repaid in full, however, a provision of £nil (2023: £244,028) for unrealised losses was provided this year through the profit and loss account. A provision will be made each financial year based on the fair value of the shares held at the year end for unrealised gain/(losses) until the loan is fully repaid.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

69

1,190,510

Amounts owed to group undertakings

1,522,255

16,654

Accrued expenses

43,095

207,967

1,565,419

1,415,131

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

£

Bridge loan

9,444,050

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Beckley Psytech Limited.

On 20 October 2022, the company and it's subsidiaries were acquired by Beckley Psytech Limited, a company incorporated in England and Wales. It's registered office is Beckley Park, Beckley, Oxford, OX3 9SY.