Company Registration No. SC685619 (Scotland)
MemCrypt Limited
Unaudited accounts
for the year ended 31 March 2025
MemCrypt Limited
Unaudited accounts
Contents
MemCrypt Limited
Company Information
for the year ended 31 March 2025
Directors
Mr Andrew McGoff
Dr Peter McLaren
Company Number
SC685619 (Scotland)
Registered Office
Suite 2, Orchard Brae House
30 Queensferry Road
Edinburgh
EH4 2HS
United Kingdom
Accountants
FinFlare Limited
Mitchell House
5 Mitchell Street
Edinburgh
Midlothian
EH6 7BD
MemCrypt Limited
Statement of financial position
as at 31 March 2025
Cash at bank and in hand
36,096
135,079
Creditors: amounts falling due within one year
(296,509)
(175,108)
Net current (liabilities)/assets
(241,631)
9,052
Total assets less current liabilities
(241,631)
9,052
Creditors: amounts falling due after more than one year
(773,746)
(710,153)
Net liabilities
(1,015,377)
(701,101)
Called up share capital
20
20
Profit and loss account
(1,015,397)
(701,121)
Shareholders' funds
(1,015,377)
(701,101)
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. 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 and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 10 November 2025 and were signed on its behalf by
Dr Peter McLaren
Director
Company Registration No. SC685619
MemCrypt Limited
Notes to the Accounts
for the year ended 31 March 2025
MemCrypt Limited is a private company, limited by shares, registered in Scotland, registration number SC685619. The registered office is Suite 2, Orchard Brae House, 30 Queensferry Road, Edinburgh, EH4 2HS, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The company continued to make a significant loss which was in line with the company's plan to invest in its technology and wider the platform to create a scalable platform for future growth.
The directors continually assess the funding needs of the company. At he point of approving the financial statements, the directors are confident they will be able to ensure that the company has sufficient funds for a 12 month period after signing of the accounts based on their activity in considering various funding routes. The directors therefore consider it is appropriate to prepare the financial statements on a going concern basis.
Expenditure on research and development is written off in the year in which it is incurred.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Amounts falling due within one year
Other debtors
6,078
24,078
MemCrypt Limited
Notes to the Accounts
for the year ended 31 March 2025
5
Creditors: amounts falling due within one year
2025
2024
Trade creditors
71,659
30,035
Taxes and social security
(20,000)
(20,000)
6
Creditors: amounts falling due after more than one year
2025
2024
Other creditors
773,746
710,153
Creditors greater than one year comprise convertible loan note instruments. The convertible loan notes are interest bearing and convert to equity upon an exit event or equity raise.
7
Average number of employees
During the year the average number of employees was 1 (2024: 2).