Portal Biotech Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 13304359

Portal Biotech Limited

Filleted Unaudited Financial Statements

31 March 2025

Portal Biotech Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Portal Biotech Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Intangible assets	5	1,413,522	809,779
Tangible assets	6	177,978	245,504
		------------	------------
		1,591,500	1,055,283

Current assets

Debtors	7	2,880,257	2,639,260
Cash at bank and in hand		3,658,153	2,353,763
		------------	------------
		6,538,410	4,993,023

Creditors: amounts falling due within one year	8	153,292	220,649
		------------	------------
Net current assets		6,385,118	4,772,374
		------------	------------
Total assets less current liabilities		7,976,618	5,827,657
		------------	------------
Net assets		7,976,618	5,827,657
		------------	------------

Capital and reserves

Called up share capital	207	182
Share premium account	12,315,497	8,651,153
Other reserves	729,492	–
Profit and loss account	( 5,068,578)	( 2,823,678)
	-------------	------------
Shareholders funds	7,976,618	5,827,657
	-------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Portal Biotech Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 29 October 2025 , and are signed on behalf of the board by:

Dr A J Heron

Director

Company registration number: 13304359

Portal Biotech Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bdo Llp, First Floor North Bottle Works, The Bars, Guildford, Surrey, GU1 4LP, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The accounts have been prepared on a going concern basis which relies upon the continuing support of the investors.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 11 (2024: 6 ).

5. Intangible assets

	Patents, trademarks and licences
	£
Cost
At 1 April 2024	809,779
Additions	603,743
	------------
At 31 March 2025	1,413,522
	------------
Amortisation
At 1 April 2024 and 31 March 2025	–
	------------
Carrying amount
At 31 March 2025	1,413,522
	------------
At 31 March 2024	809,779
	------------

6. Tangible assets

	Equipment
	£
Cost
At 1 April 2024	294,668
Additions	43,369
	---------
At 31 March 2025	338,037
	---------
Depreciation
At 1 April 2024	49,164
Charge for the year	110,895
	---------
At 31 March 2025	160,059
	---------
Carrying amount
At 31 March 2025	177,978
	---------
At 31 March 2024	245,504
	---------

7. Debtors

	2025	2024
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	2,474,148	2,160,699
Other debtors	406,109	478,561
	------------	------------
	2,880,257	2,639,260
	------------	------------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	85,540	182,609
Social security and other taxes	47,992	29,819
Other creditors	19,760	8,221
	---------	---------
	153,292	220,649
	---------	---------

Bank loans and overdrafts are secured by way of a fixed and floating charge over the property and undertakings of the company.