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Company registration number:
12862325
Regulatory Genome Development Ltd
Unaudited Financial Statements for the year ended
31 December 2024
Regulatory Genome Development Ltd
Officers and Professional Advisers
Year ended
31 December 2024
Directors
M Johnston
(appointed
28 October 2024
)
J Pritchard
R Seewald
R Wardrop
Company secretary
John Robert Stuart Dodsworth
Registered office
Box 112 23 King Street
Cambridge
CB1 1AH
United Kingdom
Accountant
ONE ZERO ACCOUNTANCY LIMITED
Stirling House
Denny End Rd Waterbeach
Cambridge
CB25 9PB
United Kingdom
Regulatory Genome Development Ltd
Directors' Report
Year ended
31 December 2024
The directors present their report and the unaudited
financial statements
of the company for the year ended 31 December 2024.

Directors

The directors who served the company during the year were as follows:
M Johnston
(appointed
28 October 2024
)
J Pritchard
R Seewald
R Wardrop

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
31 July 2025
and signed on behalf of the board by:
M Johnston
Director
Regulatory Genome Development Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of Regulatory Genome Development Ltd
Year ended
31 December 2024
As described on the statement of financial position, the Board of Directors of
Regulatory Genome Development Ltd
are responsible for the preparation of the
financial statements
for the year ended
31 December 2024
, which comprise the income statement, statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
ONE ZERO ACCOUNTANCY LIMITED
Stirling House
Denny End Rd Waterbeach
Cambridge
CB25 9PB
United Kingdom
Regulatory Genome Development Ltd
Income Statement
Year ended
31 December 2024
20242023
££
Turnover
160,554
 
408,690
 
Gross profit
160,554
 
408,690
 
Administrative expenses
(4,146,574
 )
(5,529,658
 )
Operating loss
(3,986,020
 )
(5,120,968
 )
Other interest receivable and similar income
6,853
 
127
 
Interest payable and similar expenses
(310,407
 )
(104,879
 )
Loss before tax
(4,289,574
 )
(5,225,720
 )
Tax on loss
91,907
 
335,618
 
Loss for the financial year
(4,197,667
 )
(4,890,102
 )
The company has no other recognised items of income or expense other than the results for the year as set out above.
Regulatory Genome Development Ltd
Statement of Financial Position
31 December 2024
20242023
Note££
Fixed assets    
Tangible assets 5
93,233
 
102,372
 
Current assets    
Debtors 6
221,201
 
378,150
 
Cash at bank and in hand
153,837
 
2,284,597
 
375,038
 
2,662,747
 
Creditors: amounts falling due within one year 7
(507,654
 )
(392,990
 )
Net current (liabilities)/assets
(132,616
 )
2,269,757
 
Total assets less current liabilities (39,383 ) 2,372,129  
Creditors: amounts falling due after more than one year 8
(8,496,591
 )
(6,728,366
 )
Net liabilities
(8,535,974
 )
(4,356,237
 )
Capital and reserves    
Called up share capital
247
 
247
 
Share premium
4,751,480
 
4,751,480
 
Other reserves
17,930
  -  
Profit and loss account
(13,305,631
 )
(9,107,964
 )
Shareholders deficit
(8,535,974
 )
(4,356,237
 )
For the year ending
31 December 2024
, 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 financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These
financial statements
were approved by the board of directors and authorised for issue on
31 July 2025
, and are signed on behalf of the board by:
M Johnston
Director
Company registration number:
12862325
Regulatory Genome Development Ltd
Statement of Changes in Equity
Year ended
31 December 2024
Called up share capitalShare premium accountOther reservesProfit and loss accountTotal
£££££
At 1 January 2023
247
 
4,751,480
  -  
(4,217,862
 )
533,865
 
Loss for the year- - - (4,890,102)(4,890,102)
Total comprehensive income for the year- - - 
(4,890,102
)
(4,890,102
)
At 31 December 2023 and 
1 January 2024
247
 
4,751,480
 - 
(9,107,964
)
(4,356,237
)
Loss for the year- - - (4,197,667)(4,197,667)
Total comprehensive income for the year- - - 
(4,197,667
)
(4,197,667
)
Issue of options, rights and warrants- - 
17,930
 - 
17,930
 
Total investments by and distributions to owners- - 
17,930
 - 
17,930
 
At
31 December 2024
247
 
4,751,480
 
17,930
 
(13,305,631
)
(8,535,974
)
Regulatory Genome Development Ltd
Notes to the Financial Statements
Year ended
31 December 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Box 112 23 King Street
,
Cambridge
,
CB1 1AH
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Impairment

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

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Share-based payments

Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value is expensed on a straight-line basis over the vesting period, with a corresponding increase in equity. This is based upon the company's estimate of the shares or share options that will eventually vest which takes into account all vesting conditions and non-market performance conditions, with adjustments being made where new information indicates the number of shares or share options expected to vest differs from previous estimates.
Cash-settled share-based payment transactions are measured at the fair value of the liability. Until the liability is settled, the fair value of the liability is re-measured at each reporting date and at the date of settlement, with any changes in fair value recognised in profit or loss for the period.

4 Average number of employees

The average number of persons employed by the company during the year was nil (2023:
29
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 January 2024
and
31 December 2024
109,689
 
66,856
 
176,545
 
Depreciation      
At
1 January 2024
43,872
 
30,301
 
74,173
 
Charge -  
9,139
 
9,139
 
At
31 December 2024
43,872
 
39,440
 
83,312
 
Carrying amount      
At
31 December 2024
65,817
 
27,416
 
93,233
 
At 31 December 2023
65,817
 
36,555
 
102,372
 

6 Debtors

20242023
££
Trade debtors
70,491
  -  
Other debtors
150,710
 
378,150
 
221,201
 
378,150
 

7 Creditors: amounts falling due within one year

20242023
££
Trade creditors
137,236
 
236,535
 
Taxation and social security
194,183
 
141,801
 
Other creditors
176,235
 
14,654
 
507,654
 
392,990
 

8 Creditors: amounts falling due after more than one year

20242023
££
Other creditors
8,496,591
 
6,728,366