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Registration number: 13998437

Chimeris UK Ltd.
Unaudited Filleted Financial Statements
for the Year Ended 31 March 2025

Chimeris UK Ltd.

Contents

Balance Sheet | 1
Notes to the Unaudited Financial Statements | 2 to 6

Chimeris UK Ltd.

(Registration number: 13998437)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 261,925 | 261,486
Current assets |  |  |
Debtors | 5 | 485,065 | 425,721
Cash at bank and in hand |  | 356,232 | 319,465
|  | 841,297 | 745,186
Creditors: Amounts falling due within one year | 6 | (6,604,855) | (4,611,709)
Net current liabilities |  | (5,763,558) | (3,866,523)
Net liabilities |  | (5,501,633) | (3,605,037)
Capital and reserves |  |  |
Called up share capital |  | 8 | 8
Retained earnings |  | (5,501,641) | (3,605,045)
Shareholders' deficit |  | (5,501,633) | (3,605,037)

For the financial year ending 31 March 2025 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 accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 October 2025 and signed on its behalf by:

......................................... H Zhang Director

Chimeris UK Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3rd Floor 1 Ashley Road
Altrincham
Cheshire
WA14 2DT

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The directors have assessed the company’s ability to continue as a going concern and are confident that the Company has adequate resources to continue in operational existence for the foreseeable future.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Chimeris UK Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Office Equipment | 20% Straight Line
Fixture and Fittings | 10% Straight Line
Plant and Machinery | 20% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Chimeris UK Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2024 - 12).

Chimeris UK Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4 | Tangible assets

| Fixtures and fittings £ | Plant and machinery £ | Office equipment £ | Total £
Cost or valuation
At 1 April 2024 | 43,118 | 225,332 | 50,140 | 318,590
Additions | 2,352 | 49,975 | 6,049 | 58,376
At 31 March 2025 | 45,470 | 275,307 | 56,189 | 376,966
Depreciation
At 1 April 2024 | 5,725 | 39,041 | 12,338 | 57,104
Charge for the year | 5,011 | 42,150 | 10,776 | 57,937
At 31 March 2025 | 10,736 | 81,191 | 23,114 | 115,041
Carrying amount
At 31 March 2025 | 34,734 | 194,116 | 33,075 | 261,925
At 31 March 2024 | 37,393 | 186,291 | 37,802 | 261,486

5 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 303 | 635
Prepayments | 11,536 | 97,504
Other debtors | 473,226 | 327,582
| 485,065 | 425,721

Chimeris UK Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 7 | 2,428,247 | 2,428,247
Trade creditors |  | 27,285 | 67,382
Amounts owed to related parties | 8 | 4,044,258 | 2,004,288
Other creditors |  | 105,065 | 111,792
|  | 6,604,855 | 4,611,709

7 | Loans and borrowings

Current loans and borrowings

| 2025 £ | 2024 £
Other borrowings | 2,428,247 | 2,428,247

Other borrowings

The carrying amount of third party loan funding at year end is £2,428,247 (2024 - £2,428,247). The loan is interest-free and repayable upon receipt of eventual equity funding, which is currently in negotiation.

8 | Related party transactions

Transactions with directors

2025 | At 1 April 2024 £ | Repayments to director £ | Advances from director £ | At 31 March 2025 £
H Zhang
| (99,956) | 2,233 | 158 | (97,565)

2024 | At 1 April 2023 £ | Advances to director £ | Repayments by director £ | At 31 March 2024 £
H Zhang
| (95,313) | 4,043 | (8,686) | (99,956)