Company Registration No. 10780236 (England and Wales)
Cortirio Limited
Unaudited accounts
for the year ended 31 July 2025
Cortirio Limited
Unaudited accounts
Contents
Cortirio Limited
Company Information
for the year ended 31 July 2025
Directors
Paul David Macey
Patrick John Beldon
Dr Dimitrie Spiru Hugo Stephenson
Dr Shamus Louis Godfrey Husheer
Company Number
10780236 (England and Wales)
Registered Office
Netpark Incubator
Thomas Wright Way
Sedgefield
TS21 3FD
United Kingdom
Accountants
The Accountancy Cloud
1 Fore Street Avenue
London
EC2Y 9DT
Cortirio Limited
Statement of financial position
as at 31 July 2025
Intangible assets
136,192
136,192
Tangible assets
22,158
19,325
Cash at bank and in hand
47,739
77,469
Creditors: amounts falling due within one year
(9,552)
(29,112)
Net current assets
212,047
153,775
Net assets
370,397
309,292
Called up share capital
115
115
Share premium
738,347
738,347
Profit and loss account
(368,065)
(429,170)
Shareholders' funds
370,397
309,292
For the year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2025 and were signed on its behalf by
Patrick John Beldon
Director
Company Registration No. 10780236
Cortirio Limited
Notes to the Accounts
for the year ended 31 July 2025
Cortirio Limited is a private company, limited by shares, registered in England and Wales, registration number 10780236. The registered office is Netpark Incubator, Thomas Wright Way, Sedgefield, TS21 3FD, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is capitalised within intangible assets and amortised when ready for use.
Research and development tax credit
During the financial year, Cortirio Limited received a tax credit for qualifying research and development expenditure under the Research and Development tax relief scheme. This is presented as a tax repayment in the Income Statement in line with disclosure requirements under FRS 102.
Government grants are recognised in line with the performance conditions of the contract and are credited to the Income Statement on an accruals basis.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33.33% Straight Line
Computer equipment
33.33% Straight Line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Cortirio Limited
Notes to the Accounts
for the year ended 31 July 2025
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Intangible fixed assets
Other
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2024
618
2,578
31,200
34,396
Additions
-
-
12,081
12,081
At 31 July 2025
618
2,578
43,281
46,477
At 1 August 2024
618
215
14,238
15,071
Charge for the year
-
859
8,389
9,248
At 31 July 2025
618
1,074
22,627
24,319
At 31 July 2025
-
1,504
20,654
22,158
At 31 July 2024
-
2,363
16,962
19,325
Cortirio Limited
Notes to the Accounts
for the year ended 31 July 2025
Amounts falling due within one year
Trade debtors
153,052
84,446
Accrued income and prepayments
7,558
7,722
Other debtors
13,250
13,250
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Creditors: amounts falling due within one year
2025
2024
Trade creditors
21,592
16,772
Other creditors
1,884
2,120
Allotted, called up and fully paid:
1,146,322 Ordinary shares of £0.0001 each
114.63
114.63
9
Average number of employees
During the year the average number of employees was 9 (2024: 7).