REGISTERED NUMBER: 13308088 (England and Wales)

NEUROCHASE TECHNOLOGIES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Prof S S Gill

Mrs S Kane

REGISTERED OFFICE:

St Brandon's House

29 Great George Street

Bristol

BS1 5QT

REGISTERED NUMBER:

13308088 (England and Wales)

FIXED ASSETS

Intangible assets

4

398,652

277,656

CURRENT ASSETS

Debtors

5

3,737

12,546

Cash at bank

8,534

7,732

12,271

20,278

CREDITORS

Amounts falling due within one year

6

449,972

322,405

NET CURRENT LIABILITIES

(437,701

)

(302,127

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(39,049

)

(24,471

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

(39,149

)

(24,571

)

SHAREHOLDERS' FUNDS

(39,049

)

(24,471

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

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

Mrs S Kane - Director

1.	STATUTORY INFORMATION

Neurochase Technologies Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Going concern

The financial statements have been prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future. In making their assessment, the directors have reviewed the company's balance sheet, its likely future cashflows, and the facilities available to the company, including the continued financial support of its parent company, Neurochase Holdings Limited.

In April 2025, Neurochase Holdings Limited completed an equity funding round of £6 million. This funding is intended to support the ongoing development and operations of the Group, including Neurochase Technologies Limited.

At the date of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The directors therefore continue to adopt the going concern basis of accounting in preparing the financial statements.

Royalty income

Royalty revenue is recognised on an accruals basis in accordance with the terms of the relevant agreement (provided that it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably). Royalties determined on a time basis are recognised on a straight-line basis over the period of the agreement. Royalty arrangements that are based on production, sales and other measures are recognised by reference to the underlying arrangement.

Significant judgements and estimates

In the application of the company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses.

Capitalised patent costs are yet to be amortised and will commence once the product has been fully developed and marketed.

Cash & cash equivalents

Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 "Basic Financial Instruments".

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, loans to related companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

277,656

Additions

120,996

At 31 March 2025

398,652

NET BOOK VALUE

At 31 March 2025

398,652

At 31 March 2024

277,656

Intangible assets relate to patent costs in respect of intellectual property held by the company.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

3,737

12,546

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

6,068

2,163

Social security and other taxes

-

973

Other creditors

-

79

Amts owed to related companies

442,354

317,715

Accrued expenses

1,550

1,475

449,972

322,405

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

Value:

£

£

100

Ordinary shares

£1

100

-

50

Ordinary A shares

£1

-

50

10

Ordinary B shares

£1

-

10

5

Ordinary C shares

£1

-

5

35

Ordinary D shares

£1

-

35

100

100

On 16 August 2024, the company undertook a reorganisation of its share capital whereby all existing share classes (Ordinary A,B,C, and D) were consolidated into a single class of 100 Ordinary £1 shares. This was done to simplify the share structure. The total issued share capital remained £100.

8.	RELATED PARTY DISCLOSURES

At 31 March 2025 the company owed £442,354 (2024 : £317,715) to Neurochase Limited, a company under common control.

The balance is interest free and are repayable on demand.

On 16 August 2024, Neurochase Technologies Limited became a wholly-owned subsidiary of Neurochase Holdings Limited. This change occurred as a result of the acquisition of 50% of the share capital of Neurochase Technologies Limited by Neurochase Holdings Limited.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Professor Steven Gill, by virtue of his majority shareholding in Neurochase Holdings Limited.