Centauri Therapeutics Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08879741

Centauri Therapeutics Limited

Filleted Financial Statements

31 December 2024

Centauri Therapeutics Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

Centauri Therapeutics Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Intangible assets	5	66,883	78,862
Tangible assets	6	248,403	154,941
Investments	7	1	1
		---------	---------
		315,287	233,804

Current assets

Debtors	8	1,616,255	701,369
Cash at bank and in hand		5,097,147	9,272,399
		------------	------------
		6,713,402	9,973,768

Creditors: amounts falling due within one year	9	323,909	189,783
		------------	------------
Net current assets		6,389,493	9,783,985
		------------	-------------
Total assets less current liabilities		6,704,780	10,017,789
		------------	-------------
Net assets		6,704,780	10,017,789
		------------	-------------

Capital and reserves

Called up share capital	475	475
Share premium account	20,830,660	20,830,660
Profit and loss account	( 14,126,355)	( 10,813,346)
	-------------	-------------
Shareholders funds	6,704,780	10,017,789
	-------------	-------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 26 September 2025 , and are signed on behalf of the board by:

J R Schneider

Director

Company registration number: 08879741

Centauri Therapeutics Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is First Floor, 5 Fleet Place, London, EC4M 7RD, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The directors believe the company is in an adequate cash positions and has control over the future cashflow allowing the company to continue for the foreseeable future and therefore the accounts have been prepared on a going concern basis. The company had incurred a loss for the period after tax of £3.59m and expect to incur further loses in the future as a result of their research activities. To fund its research activities, the company successfully concluded Series A funding round to secure £24m of funding and the first £6m tranche received in January 2022, the second tranche of £9m in July 2023 and the final £9m was received in February 2025. In addition, the company secured an extension to the contract for funding from US grant-provider CARB-X in April 2025 (increase of $2.9m to cover the period January – October 2025) and in September 2024 secured grant funding of up to £1m from UK provider PACE for project work taking place September 2024 – May 2026. As a consequence, the directors believe the Series A funding, CARB-X grant and PACE grant provides adequate cash position and control over future cashflow to continue for the foreseeable future and as such the financial statements have been prepared on a going concern basis.

Consolidation

The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 499 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Intangibles	-	12% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% straight line
Equipment	-	25% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 12 (2023: 10 ).

5. Intangible assets

	Intangibles
	£
Cost
At 1 January 2024 and 31 December 2024	240,593
	---------
Amortisation
At 1 January 2024	161,731
Charge for the year	11,979
	---------
At 31 December 2024	173,710
	---------
Carrying amount
At 31 December 2024	66,883
	---------
At 31 December 2023	78,862
	---------

6. Tangible assets

	Plant and machinery	Equipment	Total
	£	£	£
Cost
At 1 January 2024	297,600	14,984	312,584
Additions	162,054	–	162,054
	---------	--------	---------
At 31 December 2024	459,654	14,984	474,638
	---------	--------	---------
Depreciation
At 1 January 2024	151,384	6,259	157,643
Charge for the year	65,542	3,050	68,592
	---------	--------	---------
At 31 December 2024	216,926	9,309	226,235
	---------	--------	---------
Carrying amount
At 31 December 2024	242,728	5,675	248,403
	---------	--------	---------
At 31 December 2023	146,216	8,725	154,941
	---------	--------	---------

7. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2024 and 31 December 2024	1
	----
Impairment
At 1 January 2024 and 31 December 2024	–
	----

Carrying amount
At 31 December 2024	1
	----
At 31 December 2023	1
	----

8. Debtors

	2024	2023
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	19,451	25,918
Other debtors	1,596,804	675,451
	------------	---------
	1,616,255	701,369
	------------	---------

9. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	266,347	159,827
Other creditors	57,562	29,956
	---------	---------
	323,909	189,783
	---------	---------

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	57,586	57,586
Later than 1 year and not later than 5 years	20,157	77,743
	--------	---------
	77,743	135,329
	--------	---------

11. Summary audit opinion

The auditor's report dated 26 September 2025 was unqualified .

The senior statutory auditor was Dominic Wood , for and on behalf of Burgess Hodgson Audit Limited .