Sorex Sensors Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 10544126

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		29,009		38,629

			29,009		38,629
CURRENT ASSETS
Debtors	5	100,921		121,750
Cash at bank and in hand		102,119		131,307

		203,040		253,057
Creditors: Amounts Falling Due Within One Year	6	(97,143 )		(83,443 )

NET CURRENT ASSETS (LIABILITIES)			105,897		169,614

TOTAL ASSETS LESS CURRENT LIABILITIES			134,906		208,243

NET ASSETS			134,906		208,243

CAPITAL AND RESERVES
Called up share capital	7		2,907		2,907
Share premium account			2,141,756		2,141,756
Fair Value Reserve			232,671		232,671
Profit and Loss Account			(2,242,428 )		(2,169,091 )

SHAREHOLDERS' FUNDS			134,906		208,243

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Sorex Sensors Limited

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Dr Richard John Parmee

Director

23 December 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Sorex Sensors Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10544126 . The registered office is New Cambridge House Bassingbourn Road, Litlington, Royston, SG8 0SS.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

2.2. Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% on reducing balance
Computer Equipment	Straight line over 3 years

2.4. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.5. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are recognised at transaction price including transaction costs.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities.

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the profit / loss before taxation.

2.7. Taxation

Tax is recognised in profit or loss except that a charge is attributable to an item of income and expense recognised as other comphrehensive income or to an item recognised directly in equity is also recognised in other comphrehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

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Sorex Sensors Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.9. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

2.10. Research and Development

In the research phase of an internal project, it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

2.11. Share Based Payments

The company operates an equity-settled, share-based compensation plan, under which the entity received services from employees as consideration for equity instruments (options) of the entity. The fair value of the employee services received is measured by reference to the estimated fair value at the grant date of equity instruments granted and is recognised as an expense over the vesting period. The estimated fair value of the option granted is calculated using the Black Scholes option pricing model. The total amount expensed is recognised over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied.

The proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium when the options are exercised.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2023: 2)

4. Tangible Assets

	Plant & Machinery	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2024	65,107	6,708	71,815

As at 31 December 2024	65,107	6,708	71,815

Depreciation
As at 1 January 2024	26,515	6,671	33,186
Provided during the period	9,620	-	9,620

As at 31 December 2024	36,135	6,671	42,806

Net Book Value
As at 31 December 2024	28,972	37	29,009

As at 1 January 2024	38,592	37	38,629

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Sorex Sensors Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	-	7,619
Prepayments and accrued income	69,570	15,892
Corporation tax recoverable	29,871	97,460
VAT	1,480	779

	100,921	121,750

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	1,562	2,810
Other taxes and social security	2,797	2,893
Other creditors	502	496
Accruals and deferred income	15,207	23,244
Directors' loan accounts	54,000	54,000
Amounts owed to joint ventures	23,075	-

	97,143	83,443

7. Share Capital

	2024	2023
Allotted, called up and fully paid	£	£
2,906,817 Ordinary Shares of £ 0.001 each	2,907	2,907

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