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Registered number: 08941691
AGA NANOTECH LTD
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2025
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AGA NANOTECH LTD
REGISTERED NUMBER: 08941691
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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AGA NANOTECH LTD
REGISTERED NUMBER: 08941691
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2025
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the Statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 October 2025.
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G Braverman
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The notes on pages 3 to 6 form part of these financial statements.
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AGA NANOTECH LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
AGA Nanotech Ltd is a company limited by shares, incorporated in England and Wales. The address of the registered office is 3 Brook Business Centre, Cowley Mill Road, Uxbridge, England, UB8 2FX.
The company specialises in research and experimental development in natural sciences and engineering.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The financial statements have been prepared on a going concern basis, notwithstanding the net liabilities of £1,296,162 (2024 - £1,121,142) at the Statement of financial position date.
The Company has continued to proactively apply for non-dilutive funding options to advance both its research and commercial planning activities within the human healthcare applications particularly in the light of the Department of Health and Social Care publishing its 5-year AMR National Action Plan.
Funding to the value of approximately £120,000 in business and cash support has been secured, with applications submitted/in preparation for a further £100,000. Collaborative partnerships with Queen’s University Belfast, University of Nottingham, University of East Anglia, University of Hertfordshire have been progressing. The Company saw the grant of several patents within key jjurisdictions and completed, and IP Audit supported by Innovate UK. Validation of the Company’s approach through scientific conference talks and the prestigious European Wound Innovation Award, 2025 has progressed development within the wound care space.
Development work is ongoing to further validate and de-risk the technology. Beyond wound care, the Company has identified the application of its technology in clinical areas including but not limited to, urinary tract infections, osteomyelitis and biofilm associated tumours, these opportunities are continuing to be assessed to determine commercial viability, and strategic partners are being identified. The Company retained all rights in human health care and discussions have been opened with investors for partnership and co-development opportunities, meetings with five leading wound care companies have taken place.
Following the exclusive licensing agreement for the rights to the technology for global exploitation in animal health to AGA2 Tech Limited, several major commercial scale trials have now been completed. Engagement with a leading animal healthcare company is underway, with further patent filings undertaken in the key animal health related markets.
On this basis the directors believe that the preparation of the financial statements on a going concern basis is appropriate.
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AGA NANOTECH LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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The average monthly number of employees, including directors, during the year was 3 (2024 - 3).
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AGA NANOTECH LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Allotted, called up and fully paid
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150 Ordinary shares of £1 each
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The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £13,500 (2024 - £1,900). Contributions totalling £1,140 (2024 - £1,140) were payable to the fund at the reporting date and are included in creditors.
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AGA NANOTECH LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Related party transactions
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Included within other creditors is an amount of £1,355,327 (2024 - £1,230,327) due to a company with common directors.
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The ultimate controlling parties are the directors, by virtue of their majority shareholding in the company.
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