REGISTERED NUMBER: 08699350 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st December 2024

for

AKL Research & Development Limited

Trading as

AKL Therapeutics

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Intangible assets

4

6,576

26,153

CURRENT ASSETS

Debtors

5

304,457

851,512

Cash at bank

1,289,738

2,179,889

1,594,195

3,031,401

CREDITORS

Amounts falling due within one year

6

24,128

75,119

NET CURRENT ASSETS

1,570,067

2,956,282

TOTAL ASSETS LESS CURRENT LIABILITIES

1,576,643

2,982,435

CAPITAL AND RESERVES

Called up share capital

7

373,586

373,586

Share premium

12,225,252

12,232,287

Retained earnings

(11,022,195

)

(9,623,438

)

SHAREHOLDERS' FUNDS

1,576,643

2,982,435

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 22nd October 2025 and were signed on its behalf by:

D R Sharples - Director

1.	COMPANY INFORMATION

AKL Research & Development Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

08699350

Registered office:

2nd Floor

The Lexicon

10-12 Mount Street

Manchester

M2 5NT

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Goodwill

Goodwill is being amortised evenly over its estimated life of 10 years.

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.

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.

Going concern

In the directors’ opinion, at the time of approving the financial statements, the company had adequate cash reserves to continue its operations for the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st January 2024

and 31st December 2024

195,767

AMORTISATION

At 1st January 2024

169,614

Amortisation for year

19,577

At 31st December 2024

189,191

NET BOOK VALUE

At 31st December 2024

6,576

At 31st December 2023

26,153

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Corporation tax recoverable

282,316

827,863

VAT

19,728

21,812

Prepayments

2,413

1,837

304,457

851,512

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

19,007

65,012

Social security and other taxes

1,371

6,357

Accrued expenses

3,750

3,750

24,128

75,119

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

373,586

Ordinary

£1

373,586

373,586

Pursuant to an agreement with a trade creditor, 6,023 shares have been issued since year end in consideration for the cancellation of a debt of £867,312 owing by the company.

8.	OTHER FINANCIAL COMMITMENTS

The company has open contracts with suppliers with amounts for a total of £1,965,929 payable in future years. Under an agreement with a trade creditor, £867,312 of this amount has been satisfied by an issue of shares credited as fully paid.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are the directors by virtue of their actual exercise of control over the day-to-day activities of the company.