REGISTERED NUMBER: 04999260 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

DOMAINE OPTICS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Professor J D Silver

SECRETARY:

REGISTERED OFFICE:

222 Upper Richmond Road West

London

SW14 8AH

REGISTERED NUMBER:

04999260 (England and Wales)

ACCOUNTANTS:

K S Goring & Co Chartered Accountants

222 Upper Richmond Road West

London

SW14 8AH

FIXED ASSETS

Tangible assets

4

3,915

14,506

CURRENT ASSETS

Debtors

5

68,330

68,447

CREDITORS

Amounts falling due within one year

6

18,945

18,788

NET CURRENT ASSETS

49,385

49,659

TOTAL ASSETS LESS CURRENT LIABILITIES

53,300

64,165

CREDITORS

Amounts falling due after more than one year

7

561,255

561,255

NET LIABILITIES

(507,955

)

(497,090

)

CAPITAL AND RESERVES

Called up share capital

400

400

Retained earnings

(508,355

)

(497,490

)

(507,955

)

(497,090

)

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 director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 September 2025 and were signed by:

Professor J D Silver - Director

1.	STATUTORY INFORMATION

Domaine Optics 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.

Going Concern

The company undertakes research into diagnostic instruments to develop optoelectronic devices to detect infectious diseases aimed primarily with the humanitarian objective to bring fast cheap infection tests to the world, rather than principally to create shareholder value.

The company's operation has been financed by £500,000 of unsecured working capital loan from one of its shareholders to fund the research and development. The director had anticipated the company's cash runway to February 2023. To date, the company has run out of cash to continue with its tester through regulation and into manufacturing.

Though it is proving to be difficult to raise new funds for continuation of operations with third party suppliers, nevertheless, management continue to offer their services without remuneration. So, operations that do not involve third party suppliers continue to be discharged by management. And operations that require financial settlement to third parties' suppliers (either before or after the engagement) are currently on hold.

With the continuing services of management, the director continue to engage with potential investors and are hopeful that very soon they will be able to secure an investor to fund all levels of operations that are conducted either by management or third-party suppliers and the director continues to engage with potential investors for this purposes.

Within the scientific literature, there are now suggestions that if suitable preventative steps are not taken, there could be a further pandemic , possibly caused by the H5N1 virus, which has now spread from birds to cows , with some human cases also reported. If testing can be made sufficiently cheap and easy , there is the possibility that an H5N1 pandemic could be prevented by large scale regular testing for infection spread , combined with quarantine as appropriate.

The Directors are of the opinion that the company's optoelectronic device tester is well placed to play a leading role in any future pandemic prevention strategy because the critical parameter is the cost per test , given the very large number of ongoing tests which will be needed for global pandemic prevention.

So due to having a viable working and tested prototype, that in the opinion of management, once regulation approval has been obtained, will be the cheapest and fastest optoelectronic device tester in the world, management are of the opinion that the operations of the company are viable as a going concern due to the future marketability of the working prototype the company has produced and the director continues to have meaningful and constructive dialogue with suitable investors.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

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

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

42,364

DEPRECIATION

At 1 January 2024

27,858

Charge for year

10,591

At 31 December 2024

38,449

NET BOOK VALUE

At 31 December 2024

3,915

At 31 December 2023

14,506

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

68,330

68,447

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 8)

3,431

3,384

Taxation and social security

6,891

6,891

Other creditors

8,623

8,513

18,945

18,788

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

561,255

561,255

Other creditors is a loan from a private investor who is also a shareholder. (see below note 7)

8.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

3,431

3,384

Amounts falling due between two and five years:

Other loans - 2-5 years

561,255

561,255

Other creditors is a loan from a private investor who is also a shareholder.

The loan is unsecured with interest charged daily at an annual rate of 2% above Base Rate.

The company shall be obliged to repay the loan in full by way of a single repayment plus the accrued interest to date when there are sufficient surplus funds standing to the credit of the company's account.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is the shareholders.