Brainpool Ltd


Directors	Dr Peter Antony Bebbington
	Katarzyna Borowska


Registered Address	45 Albemarle Street
	3rd Floor, Mayfair
	London
	W1S 4JL


Registered Number	10024360 (England and Wales)

Balance Sheet as at
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	4		308		894
Investments	5		20		26
			328		920
Current assets
Debtors	6	3,163		106,847
Cash at bank and on hand		15,344		14,227
		18,507		121,074
Creditors amounts falling due within one year	7	(27,241)		(37,503)
Net current assets (liabilities)			(8,734)		83,571
Total assets less current liabilities			(8,406)		84,491
Net assets			(8,406)		84,491
Capital and reserves
Called up share capital			12		12
Share premium			386,113		386,113
Profit and loss account			(394,531)		(301,634)
Shareholders' funds			(8,406)		84,491

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 24 November 2025, and are signed on its behalf by:

Dr Peter Antony Bebbington
Director
Registered Company No. 10024360

Brainpool Ltd

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

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

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	The financial statements have been prepared on a going concern basis. The Company is a non-trading holding entity and therefore relies on financial support from its trading subsidiaries to meet its liabilities as they fall due. The trading subsidiaries continue to generate positive cash flows and have confirmed that they will provide financial support to the Company for at least twelve months from the date of approval of these financial statements. The directors have reviewed the Group’s cash flow forecasts and budgets, including sensitivities, and have considered both current performance and future trading expectations. Based on this review, and on the continued availability of financial support from the trading subsidiaries, the directors believe that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Going concern

The financial statements have been prepared on a going concern basis. The Company is a non-trading holding entity and therefore relies on financial support from its trading subsidiaries to meet its liabilities as they fall due. The trading subsidiaries continue to generate positive cash flows and have confirmed that they will provide financial support to the Company for at least twelve months from the date of approval of these financial statements.

The directors have reviewed the Group’s cash flow forecasts and budgets, including sensitivities, and have considered both current performance and future trading expectations. Based on this review, and on the continued availability of financial support from the trading subsidiaries, the directors believe that the Company has adequate resources to continue in operational existence for the foreseeable future.

Accordingly, the directors consider it appropriate to prepare the financial statements on a going concern basis.

	Revenue from rendering of services
	Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Office Equipment	3

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	0		0

3.	Further information regarding the company's income
	During the year, the Company incurred certain central administrative and support costs on behalf of the Group. These costs are recharged to the relevant subsidiaries through annual management charges, determined with reference to the underlying expenditure and the expected level of support provided. Where timing differences arise between the incurring of expenditure and settlement of management charges, the amounts are recognised within intercompany loan accounts. Intercompany balances are unsecured, interest-free, and repayable on demand unless otherwise stated. The directors consider these balances to be recoverable. The Company had no revenue during the year and relies on recoveries from subsidiaries via management charges and intercompany settlements to cover its operating costs.

Further information regarding the company's income

During the year, the Company incurred certain central administrative and support costs on behalf of the Group. These costs are recharged to the relevant subsidiaries through annual management charges, determined with reference to the underlying expenditure and the expected level of support provided.

Where timing differences arise between the incurring of expenditure and settlement of management charges, the amounts are recognised within intercompany loan accounts. Intercompany balances are unsecured, interest-free, and repayable on demand unless otherwise stated. The directors consider these balances to be recoverable.

The Company had no revenue during the year and relies on recoveries from subsidiaries via management charges and intercompany settlements to cover its operating costs.

4.	Tangible fixed assets

	Office Equipment	Total
	£	£
Cost or valuation
At 01 April 24	10,417	10,417
At 31 March 25	10,417	10,417
Depreciation and impairment
At 01 April 24	9,523	9,523
Charge for year	586	586
At 31 March 25	10,109	10,109
Net book value
At 31 March 25	308	308
At 31 March 24	894	894

5.	Fixed asset investments

	Investments in groups¹	Total
	£	£
Cost or valuation
At 01 April 24	26	26
Disposals	(6)	(6)
At 31 March 25	20	20
Net book value
At 31 March 25	20	20
At 31 March 24	26	26

	Notes
	¹Investments in group undertakings and participating interests

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Amounts owed by group undertakings	-	89,881
Amounts owed by associates and joint ventures / participating interests	1,258	600
Other debtors	129	16,366
Prepayments and accrued income	1,776	-
Total	3,163	106,847


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	945	552
Bank borrowings and overdrafts	25,287	36,186
Amounts owed to related parties	10	10
Other creditors	-	6
Accrued liabilities and deferred income	999	749
Total	27,241	37,503


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

8.	Related party transactions
	The amount owed by related parties is a loan of £1,258.18 (2024: £599.83) to Brainpool AI Inc, a company registered in Canada, in which Brainpool Ltd has an indirect investment. No interest was charged on the loan, and it is repayable on demand. The amount owed to related parties is a loan of £10.00 (2024:£10.00) from Brainpool Products Ltd, a Private Company Limited By Shares in England and Wales that is owned and controlled by Brainpool Ltd. No interest was charged to the loan and it is repayable on demand.

Related party transactions

The amount owed by related parties is a loan of £1,258.18 (2024: £599.83) to Brainpool AI Inc, a company registered in Canada, in which Brainpool Ltd has an indirect investment. No interest was charged on the loan, and it is repayable on demand. 

The amount owed to related parties is a loan of £10.00 (2024:£10.00) from Brainpool Products Ltd, a Private Company Limited By Shares in England and Wales that is owned and controlled by Brainpool Ltd. No interest was charged to the loan and it is repayable on demand.