Cambridge Sensoriis Ltd - Period Ending 2025-03-31

Registration number: 12586186

Cambridge Sensoriis Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

Cambridge Sensoriis Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 11

Cambridge Sensoriis Ltd

Company Information

Directors

Dr Stephen Clark

Mr Richard Higgs

Ms Joanna Hill

Mr Thomas Alexander Hearn

Mr Michael Hall

Registered office

20-22 Wenlock Road
London
N1 7GU

Accountants

Mrs Victoria Anne Cooper Red Shoes Accounting Services
Unit 7 E-Space North
181 Wisbech Road
Littleport
Cambridgeshire
CB6 1RA

Cambridge Sensoriis Ltd

(Registration number: 12586186)
Balance Sheet as at 31 March 2025

	Note	2025 £	(As restated) 2024 £
Fixed assets
Tangible assets	4	11,218	11,194
Current assets
Debtors	5	285,318	122,245
Cash at bank and in hand		160,037	347,173
		445,355	469,418
Creditors: Amounts falling due within one year	6	(64,939)	(34,033)
Net current assets		380,416	435,385
Net assets		391,634	446,579
Capital and reserves
Called up share capital	7	122	122
Share premium reserve		658,931	658,947
Other reserves		106,250	86,408
Retained earnings		(373,669)	(298,898)
Shareholders' funds		391,634	446,579

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:

Dr Stephen Clark
Director

Cambridge Sensoriis 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 & Wales .

The address of its registered office is:
20-22 Wenlock Road
London
N1 7GU
England

FRS 102 was not applied to the most recent annual financial statements as they were a micro sized company.

These financial statements were authorised for issue by the Board on 10 October 2025.

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.

Cambridge Sensoriis Ltd

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

Changes in accounting policy

The following have been applied for the first time from 1 April 2024 and have had an effect on the financial statements:

Presentation of Research & Development Costs

During the year, the company changed its accounting policy regarding the presentation of research and development (R&D) expenditure in the profit and loss account. In prior years, a proportion of staff costs relating to R&D activities was included within R&D costs. From this year, only non-staff R&D costs are included under R&D in the profit and loss account, with all staff costs, including those relating to R&D, now included within staff costs.

The directors believe this change provides greater clarity and more relevant information to users of the financial statements. Comparative figures have been restated where necessary to reflect this change in policy. The change in policy affects only the presentation of costs within the profit and loss account and has no impact on the company's profit or tax position.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Grants are accounted under the accruals model as permited by FRS102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the deprecition on the assets to which the grant relates. The deferred element of grants is incuded in creditors as deferred income. Where a grant is claimed after the related revenue expenditure has been incurred, the grant is recognised as income in the same period as the expenditure, provided that there is reasonable assurance that the grant will be received and the conditions attached have been or will be met.

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 and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Cambridge Sensoriis Ltd

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

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.

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:

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.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Cambridge Sensoriis 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.

Share based payments

The company operates an equity-settled, share-based compensation plan, under which the entity receives services from employees as consideration for equity instruments (options) of the entity. The fair value of the employee services received is measured by reference to the estimated fair value at the grant date of equity instruments granted and is recognised as an expense over the vesting period. The total amount expensed is recognised over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied.

The proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium when the options are exercised.

3	Staff numbers

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

Cambridge Sensoriis Ltd

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

4	Tangible assets

Furniture, fittings and equipment
£

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2024

18,181

-

18,181

Additions

2,902

862

3,764

At 31 March 2025

21,083

862

21,945

Depreciation

At 1 April 2024

6,987

-

6,987

Charge for the year

3,524

216

3,740

At 31 March 2025

10,511

216

10,727

Carrying amount

At 31 March 2025

10,572

646

11,218

At 31 March 2024

11,194

-

11,194

5

Debtors

Current

2025
£

2024
£

Trade debtors

150,336

4,360

Prepayments

5,022

5,931

Other debtors

129,960

111,954

285,318

122,245

6

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	-	1,364
Taxation and social security	54,112	30,656
Accruals and deferred income	2,100	-
Other creditors	8,727	2,013
	64,939	34,033

Cambridge Sensoriis Ltd

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

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary Shares of £0.00 each	121,583	122	121,583	122

8	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2025 £	2024 £
Not later than one year	1,650	1,650

Cambridge Sensoriis Ltd

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

9	Transition to FRS 102

The transition from FRS 105 to FRS 102 Section 1A required a share based payments reserve of £8,583 and a deferred tax asset of £15,788 to be recognised in the opening balance sheet of 1 April 202. Further share based payments of £77,825 and deferred tax assets of £28,141 have been recognised in the balance sheet as at 31 March 2024. The retained earnings at 31 March 2024 therefore reduced by £42,479.

Balance Sheet at 1 April 2023

	As originally reported £	Reclassification £	Remeasurement £	As restated £
Fixed assets
Tangible assets	7,195	-	-	7,195
Current assets
Debtors	66,001	-	15,788	81,789
Cash at bank and in hand	133,557	-	-	133,557
	199,558	-	15,788	215,346
Creditors: Amounts falling due within one year	(96,858)	-	-	(96,858)
Net current assets	102,700	-	15,788	118,488
Net assets	109,895	-	15,788	125,683

Page 9

Cambridge Sensoriis Ltd

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

	As originally reported £	Reclassification £	Remeasurement £	As restated £
Capital and reserves
Called up share capital	(111)	-	-	(111)
Share premium reserve	(259,214)	-	-	(259,214)
Other reserves	-	-	(8,583)	(8,583)
Retained earnings	149,430	-	(7,205)	142,225
Total equity	(109,895)	-	(15,788)	(125,683)

Page 10

Cambridge Sensoriis Ltd

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

Balance Sheet at 31 March 2024

	As originally reported £	Reclassification £	Remeasurement £	As restated £
Fixed assets
Tangible assets	11,194	-	-	11,194
Current assets
Debtors	78,316	-	43,929	122,245
Cash at bank and in hand	347,173	-	-	347,173
	425,489	-	43,929	469,418
Creditors: Amounts falling due within one year	(34,033)	-	-	(34,033)
Net current assets	391,456	-	43,929	435,385
Net assets	402,650	-	43,929	446,579
Capital and reserves
Called up share capital	(122)	-	-	(122)
Share premium reserve	(658,947)	-	-	(658,947)
Other reserves	-	-	(86,408)	(86,408)
Retained earnings	256,419	-	42,479	298,898
Total equity	(402,650)	-	(43,929)	(446,579)

Page 11

	Furniture, fittings and equipment £	Other tangible assets £	Total £
Cost or valuation
At 1 April 2024	18,181	-	18,181
Additions	2,902	862	3,764
At 31 March 2025	21,083	862	21,945
Depreciation
At 1 April 2024	6,987	-	6,987
Charge for the year	3,524	216	3,740
At 31 March 2025	10,511	216	10,727
Carrying amount
At 31 March 2025	10,572	646	11,218
At 31 March 2024	11,194	-	11,194

Current	2025 £	2024 £
Trade debtors	150,336	4,360
Prepayments	5,022	5,931
Other debtors	129,960	111,954
	285,318	122,245