First Graphene (UK) Limited 30/06/2025 iXBRL

Company registration number: 11397771

First Graphene (UK) Limited

Unaudited filleted financial statements

30 June 2025

First Graphene (UK) Limited

Contents

Directors and other information

Statement of financial position

Notes to the financial statements

First Graphene (UK) Limited

Directors and other information



	Directors	M E Bell
		W R Grigor
		A J Goodwin


	Company number	11397771


	Registered office	Netpark Plexus
		Thomas Wright Way
		Sedgefield
		County Durham
		TS21 3FD


	Accountants	Redford & Co Limited
		Chartered Accountants
		First Floor
		64 Baker Street
		London
		W1U 7GB

First Graphene (UK) Limited

Statement of financial position

30 June 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	5	18,333		41,382
Tangible assets	6	113,311		1,481
		_______		_______
			131,644		42,863

Current assets
Debtors	7	111,382		18,591
Cash at bank and in hand		11,699		116,889
		_______		_______
		123,081		135,480
Creditors: amounts falling due
within one year	8	( 3,955,366)		( 4,026,894)
		_______		_______
Net current liabilities			( 3,832,285)		( 3,891,414)
			_______		_______
Total assets less current liabilities			( 3,700,641)		( 3,848,551)

Creditors: amounts falling due
after more than one year	9		( 54,895)		-
			_______		_______
Net liabilities			( 3,755,536)		( 3,848,551)
			_______		_______

Capital and reserves
Called up share capital			1		1
Profit and loss account			( 3,755,537)		( 3,848,552)
			_______		_______
Shareholders deficit			( 3,755,536)		( 3,848,551)
			_______		_______

For the year ending 30 June 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.

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.

These financial statements were approved by the board of directors and authorised for issue on 28 October 2025 , and are signed on behalf of the board by:

M E Bell

Director

Company registration number: 11397771

First Graphene (UK) Limited

Notes to the financial statements

Year ended 30 June 2025

1. General information

The company is a private company limited by shares, registered in England. The address of the registered office is Netpark Plexus, Thomas Wright Way, Sedgefield, County Durham, TS21 3FD.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

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

Going concern

At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurances from the parent company that they will continue to give financial support to the company for the foreseeable future and for a period not less than 12 months from the date of signing these financial statements. On this basis, the directors consider it appropriate to prepare the accounts on the going concern basis. However, should the financial support mentioned above not be forthcoming the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

FRS 102

The Company has adopted the amendments in FRS 102 (September 2024) early in the current year. The effective date for the amendments is for accounting periods beginning on or after 1 January 2026.

Leased assets

The early adoption of the amendments in FRS 102 has resulted in the Company recognising a right-of-use asset and related lease liability in connection with all former operating leases except for those identified as low-value or having a remaining lease term of less than 12 months from the date of initial application. The Company has measured the right-of-use asset at an amount equal to the present value of the minimum lease payments calculated using the interest rate implicit in the lease. The right-of-use asset is depreciated over the shorter of the lease term and the estimated useful life of the asset on a straight line basis.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax, when material, is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and 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.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Patents	-	20 %	straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Research and development

Research and development expenditure is written off in the year it is incurred. The research and development expenditure credit is included in Other operating income and the related notional tax charge is included in Tax on profit/(loss) in the Statement of comprehensive income.

Tangible assets

tangible assets, excluding right-of-use assets, are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and 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:


Leasehold Improvements	-	3 years straight line
Plant and machinery	-	3-5 years straight line
Right-of-use Asset	-	3 years	straight line
Office Equipment	-	`2-4 years straight line`

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Grants are recognised on a systematic basis over the periods in which the Company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Defined contribution plans

The pension costs charged in the financial statements represent the contributions payable by the Company during the year.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 7 (2024: 7 ).

5. Intangible assets

	Patents	Total
	£	£
Cost
At 1 July 2024 and 30 June 2025	115,245	115,245
	_______	_______
Amortisation
At 1 July 2024	73,863	73,863
Charge for the year	23,049	23,049
	_______	_______
At 30 June 2025	96,912	96,912
	_______	_______
Carrying amount
At 30 June 2025	18,333	18,333
	_______	_______
At 30 June 2024	41,382	41,382
	_______	_______

6. Tangible assets

	Short leasehold property	Plant and machinery	Right-of-use Asset	Office Equipment	Total
	£	£	£	£	£
Cost
At 1 July 2024	-	37,738	-	1,858	39,596
Additions	14,117	16,665	105,684	853	137,319
	_______	_______	_______	_______	_______
At 30 June 2025	14,117	54,403	105,684	2,711	176,915
	_______	_______	_______	_______	_______
Depreciation
At 1 July 2024	-	36,257	-	1,858	38,115
Charge for the year	2,355	2,508	20,550	76	25,489
	_______	_______	_______	_______	_______
At 30 June 2025	2,355	38,765	20,550	1,934	63,604
	_______	_______	_______	_______	_______
Carrying amount
At 30 June 2025	11,762	15,638	85,134	777	113,311
	_______	_______	_______	_______	_______
At 30 June 2024	-	1,481	-	-	1,481
	_______	_______	_______	_______	_______

The right-of-use asset comprises of a premises for the use of a workshop, laboratory and offices. The lease term is three years commencing 5 December 2024 and the interest rate implicit in the lease is 5%.

7. Debtors

	2025	2024
	£	£
Trade debtors	747	2,539
Other debtors	110,635	16,052
	_______	_______
	111,382	18,591
	_______	_______

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	35,959	5,873
Amounts owed to group undertakings	3,867,485	3,997,751
Social security and other taxes	5,105	5,667
Other creditors	46,817	17,603
	_______	_______
	3,955,366	4,026,894
	_______	_______

Included in Other creditors is an amount of £33,614 relating to lease liabilities for right-of-use assets.

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	54,895	-
	_______	_______

This relates to lease liabilities for right-of-use assets.

10. Related party transactions

First Graphene Limited is the 100% parent company.The parent is providing financial support to First Graphene (UK) Limited . The company has a loan account with its parent company. The loan account represents monies owed by the company. The balance outstanding at 30 June 2025 was £3,867,485 (2024 - £3,997,751).

11. Controlling party

The company's immediate parent is First Graphene Limited, incorporated in Australia. The most senior parent entity producing publicly available financial statements is First Graphene Limited. These financial statements are available upon request from 1 Sepia Close, Henderson, WA 6166, Australia.