REGISTERED NUMBER: 15647220 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 15 APRIL 2024 TO 31 DECEMBER 2024

FOR

ALTHEA RESEARCH LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Dr J Elek

M Smith

REGISTERED OFFICE:

82 Highbury New Park

London

United Kingdom

N5 2DJ

REGISTERED NUMBER:

15647220 (England and Wales)

ACCOUNTANTS:

Fawcetts LLP

Chartered Accountants

Windover House

St. Ann Street

Salisbury

SP1 2DR

FIXED ASSETS

Intangible assets

4

14,040

Tangible assets

5

821

14,861

CURRENT ASSETS

Cash at bank

2,137

CREDITORS

Amounts falling due within one year

6

21,639

NET CURRENT LIABILITIES

(19,502

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(4,641

)

CAPITAL AND RESERVES

Called up share capital

7

1

Retained earnings

(4,642

)

SHAREHOLDERS' FUNDS

(4,641

)

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 September 2025 and were signed on its behalf by:

M Smith - Director

1.	STATUTORY INFORMATION

Althea Research Ltd. 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

The financial statements have been prepared on a going concern basis. The company is dependent upon the support of the directors who have indicated that they will introduce funds as required to meet the company's liabilities. The directors therefore consider that the going concern basis is appropriate. The financial statements do not contain any adjustments that might be necessary were the going concern basis to be no longer appropriate.

The financial statements are presented in Sterling (£) which is the functional currency of the company.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebate and value added tax.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of two years.

Tangible fixed assets

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

Computer equipment

-

33% on cost

Taxation

Taxation for the period 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 period 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Debtors

Debtors are measured at their recoverable amount.

Creditors and provisions

Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

16,364

At 31 December 2024

16,364

AMORTISATION

Charge for period

2,324

At 31 December 2024

2,324

NET BOOK VALUE

At 31 December 2024

14,040

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

849

At 31 December 2024

849

DEPRECIATION

Charge for period

28

At 31 December 2024

28

NET BOOK VALUE

At 31 December 2024

821

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other creditors

21,639

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

1,000

Ordinary

0.1p

1

1,000 Ordinary shares of 0.1p each were allotted and fully paid for cash at par during the period.