Cade Hill Investments Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer Equipment

3 years straight line

2.3. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.4. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

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Cade Hill Investments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.5. Investments

Investments in equity instruments are measured initially at fair value, which is normally the transaction price. Transaction costs are excluded if the investments are subsequently measured at fair value through profit and loss. Subsequent to initial recognition investments that can be measured reliably are measured at fair value with changes recognised in the profit and loss.

Where there is no readily ascertainable market value investments are recorded at cost less any provision for impairment.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2023: NIL)

4. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 January 2024	493

As at 31 December 2024	493

Depreciation
As at 1 January 2024	163
Provided during the period	163

As at 31 December 2024	326

Net Book Value
As at 31 December 2024	167

As at 1 January 2024	330

5. Investments

	Subsidiaries	Associates	Unlisted	Other	Total
	£	£	£	£	£
Cost
As at 1 January 2024	100	19,144,255	970,491	45,439,605	65,554,451
Additions	-	25	100,000	-	100,025
Disposals	-	-	-	(43,573,360 )	(43,573,360 )
Revaluations	-	-	-	3,374,839	3,374,839

As at 31 December 2024	100	19,144,280	1,070,491	5,241,084	25,455,955

Provision
As at 1 January 2024	-	1,061,500	722,266	-	1,783,766
Impairment losses	100	55,750	133,698	-	189,548
Reversal of past impairments	-	(15,000 )	-	-	(15,000 )

As at 31 December 2024	100	1,102,250	855,964	-	1,958,314

Net Book Value
As at 31 December 2024	-	18,042,030	214,527	5,241,084	23,497,641

As at 1 January 2024	100	18,082,755	248,225	45,439,605	63,770,685

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Cade Hill Investments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Associated Companies:

Octopus Deploy Pty. Ltd

Registered Office: Australia

Nature of Business: Development and retail of computer software

Class of Shares: Ordinary

Holding %: 11.13%

Red Gate Software Group Ltd

Registered Office: Cavendish House, Cambridge Business Park, Cambridge, CB4 0XB, United Kingdom

Nature of Business: Development and retail of computer software

Class of Shares: Ordinary A & Ordinary B

Holding %: 5.39%

The Independent Adventure Group Ltd

Registered Office: International House, Holborn Viaduct, London, United Kingdom, EC1A 2BN

Nature of Business: Travel industry

Class of Shares: Ordinary

Holding %: 33.30%

Syskit UK Ltd

Registered Office: Unit 5, Avenue Business Park, Brockley Road, Elsworth, CB23 4EY

Nature of Business: Development and retail of computer software

Class of Shares: Ordinary, A Preference & B Preference

Holding %: 31.80%

BoobyBiome Ltd

Registered Office: Unit 3 21 Portland Rise, London, United Kingdom

Nature of Business: Research and experimental development on biotechnology

Class of Shares: Ordinary

Holding %: 12.36%

Opti Laboratories Ltd

Registered Office: 3 Baird Gardens, Blantyre, Glasgow, United Kingdom, G72 0WT

Nature of Business: Medical

Class of Shares: Ordinary A shares

Holding %: 25%

Production Ready AI

Registered Office: Unit 5, Avenue Business Park, Brockley Road, Elsworth, Cambridge, CB23 4EY

Nature of Business: Software development

Class of Shares: Preference

Holding %: 26.67%

Subsidiaries

Pharmaglow Ltd

Registered Office: Unit 5, Avenue Business Park, Brockley Road, Elsworth, Cambridge, CB23 4EY

Nature of Business: Media

Class of Shares: Ordinary

Holding %: 100%

Unlisted Investments are held at cost less impairment as no market/fair value is available at the Statement of Financial Position date.

Other Investments are Managed Investment funds, at the Statement of Financial Position date the Investments are held at Market Value.

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Cade Hill Investments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	20,803	3,303
Prepayments and accrued income	2,242	29,727
Other debtors	4,858	6,218
Other loan	21,095	-
VAT	12,275	3,211
Director's loan account	1,003,802	2,051
Amounts owed by group undertakings	42,960,876	-
Amounts owed by subsidiaries	279	49,900

	44,026,230	94,410

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	9,196	-
Other loans	7,323,955	-
Amounts owed to participating interests	-	5,020
Other creditors	53,604	10,708

	7,386,755	15,728

8. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	17,110	17,110

9. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 January 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2024
	£	£	£	£	£
Dr Simon Galbraith	2,051	1,001,751	-	-	1,003,802

An advance of £1,000,000 was made on 6 December 2024. Interest is charged at HM Revenue and Customs official rate of interest. The loan, together with any accrued interest, was cleared on 3 September 2025.

10. Related Party Transactions

Pharmaglow Ltd

Pharmaglow Ltd is a wholly owned subsidiary.

During the previous year the company provided an interest free, unsecured loan of £49,900 to Pharmaglow Ltd. As at 31 December 2024 £279 remains outstanding and is shown within debtors due within one year. A provision for irrecoverable amounts has been made in 2024 amounting to £28,526.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		167		330
Investments	5		23,497,641		63,770,685

			23,497,808		63,771,015
CURRENT ASSETS
Debtors	6	44,026,230		94,410
Cash at bank and in hand		6,992,087		850,300

		51,018,317		944,710
Creditors: Amounts Falling Due Within One Year	7	(7,386,755 )		(15,728 )

NET CURRENT ASSETS (LIABILITIES)			43,631,562		928,982

TOTAL ASSETS LESS CURRENT LIABILITIES			67,129,370		64,699,997

NET ASSETS			67,129,370		64,699,997

CAPITAL AND RESERVES
Called up share capital	8		17,110		17,110
Share premium account			1,206,795		1,206,795
Profit and Loss Account			65,905,465		63,476,092

SHAREHOLDERS' FUNDS			67,129,370		64,699,997