REGISTERED NUMBER: 09103355 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

NORTHWEST BIOTHERAPEUTICS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Ms L F Powers

REGISTERED OFFICE:

The St Botolph Building

138 Houndsditch

London

EC3A 7AR

REGISTERED NUMBER:

09103355 (England and Wales)

ACCOUNTANTS:

Beyond Accounting Limited

20 Abbots Business Park

Primrose Hill

Kings Langley

Hertfordshire

WD4 8FR

FIXED ASSETS

Tangible assets

4

8,215,971

8,769,653

CURRENT ASSETS

Stocks

5

66,387

-

Debtors

6

601,207

627,631

Cash at bank

3,606

4,276

671,200

631,907

CREDITORS

Amounts falling due within one year

7

23,224,577

19,767,050

NET CURRENT LIABILITIES

(22,553,377

)

(19,135,143

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(14,337,406

)

(10,365,490

)

RESERVES

Retained earnings

(14,337,406

)

(10,365,490

)

SHAREHOLDERS' FUNDS

(14,337,406

)

(10,365,490

)

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 her 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 22 September 2025 and were signed by:

Ms L F Powers - Director

1.	STATUTORY INFORMATION

Northwest Biotherapeutics 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.

The accounts have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent on sufficient and continuing financial support being made available by the company's creditors. If the company were unable to continue to trade adjustments would have to be made to reduce the value of assets to their realisable amount, to reclassify fixed assets as current assets, long-term liabilities as current liabilities, and to provide for any further liabilities that may arise.

Tangible fixed assets

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

Leasehold improvements

-

Straight line over period of lease

Manufacturing equipment

-

Straight line over 5 years

Office furniture and equipment

-

Straight line over 5 years

Computer equipment

-

Straight line over 3 years

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Office

furniture

Leasehold

Manufacturing

and

Computer

improvements

equipment

equipment

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

8,962,174

613,656

234,885

273,113

10,083,828

Additions

141,495

222,181

39,426

5,965

409,067

Disposals

(169,223

)

(12,256

)

-

-

(181,479

)

At 31 December 2024

8,934,446

823,581

274,311

279,078

10,311,416

DEPRECIATION

At 1 January 2024

768,087

229,235

92,605

224,248

1,314,175

Charge for year

541,673

157,442

51,354

33,661

784,130

Eliminated on disposal

-

(2,860

)

-

-

(2,860

)

At 31 December 2024

1,309,760

383,817

143,959

257,909

2,095,445

NET BOOK VALUE

At 31 December 2024

7,624,686

439,764

130,352

21,169

8,215,971

At 31 December 2023

8,194,087

384,421

142,280

48,865

8,769,653

5.

STOCKS

31.12.24

31.12.23

£

£

Work-in-progress

66,387

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

3,770

43,767

Value added tax

100,885

170,485

Accrued income

349,763

233,802

Prepayments

146,789

179,577

601,207

627,631

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

236,488

481,699

Amounts owed to group undertakings

18,905,029

15,776,931

Other creditors

-

245,719

Accruals

4,083,060

3,262,701

23,224,577

19,767,050

8.	OTHER FINANCIAL COMMITMENTS

At 31 December 2024 the company had total commitments under non-cancellable operating leases over the remaining life of the lease of £7,280,000 (2023 - £7,800,000).