REGISTERED NUMBER: 15112185 (England and Wales)

ASGIL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr K A D Gilmore

Dr S Gilmore-Parvazi

REGISTERED OFFICE:

Highland House

Mayflower Close

Chandlers Ford

Eastleigh

Hampshire

SO53 4AR

BUSINESS ADDRESS:

6b Parchment Street

Winchester

Hampshire

SO23 8AT

REGISTERED NUMBER:

15112185 (England and Wales)

FIXED ASSETS

Intangible assets

4

60,001

67,500

Tangible assets

5

530,727

553,450

590,728

620,950

CURRENT ASSETS

Stocks

3,000

-

Debtors

6

10,893

-

Cash at bank and in hand

66,718

2

80,611

2

CREDITORS

Amounts falling due within one year

7

(294,475

)

(234,675

)

NET CURRENT LIABILITIES

(213,864

)

(234,673

)

TOTAL ASSETS LESS CURRENT LIABILITIES

376,864

386,277

CREDITORS

Amounts falling due after more than one year

8

(554,629

)

(523,037

)

NET LIABILITIES

(177,765

)

(136,760

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(177,767

)

(136,762

)

(177,765

)

(136,760

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 13 January 2026 and were signed on its behalf by:

Dr K A D Gilmore - Director

1.	STATUTORY INFORMATION

ASGIL LIMITED 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Going concern

At the balance sheet date the company has net liabilities and is dependant upon the support of the directors' to continue trading. The directors' indicated that their support will continue for a period of at least 12 months from the date of signing these financial statements and have concluded that with the right management actions the company is a going concern. Accordingly the directors' have prepared the financial statements on this basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% Straight line

Improvements to property

-

10% Straight line

Plant and machinery

-

20% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Financial assets

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 assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables 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 financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities

Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments

Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Patents and

Goodwill

licences

Totals

£

£

£

COST

At 1 September 2024

and 31 August 2025

74,997

3

75,000

AMORTISATION

At 1 September 2024

7,500

-

7,500

Amortisation for year

7,499

-

7,499

At 31 August 2025

14,999

-

14,999

NET BOOK VALUE

At 31 August 2025

59,998

3

60,001

At 31 August 2024

67,497

3

67,500

5.	TANGIBLE FIXED ASSETS

Freehold

Improvements

Plant and

property

to property

machinery

Totals

£

£

£

£

COST

At 1 September 2024

and 31 August 2025

498,668

2,500

75,000

576,168

DEPRECIATION

At 1 September 2024

9,968

250

12,500

22,718

Charge for year

9,973

250

12,500

22,723

At 31 August 2025

19,941

500

25,000

45,441

NET BOOK VALUE

At 31 August 2025

478,727

2,000

50,000

530,727

At 31 August 2024

488,700

2,250

62,500

553,450

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

£

Other debtors

10,893

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

£

Bank loans and overdrafts

14,690

59,861

Trade creditors

448

-

Other creditors

279,337

174,814

294,475

234,675

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

as restated

£

£

Bank loans

554,629

523,037

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

by instalments

482,762

300,694

482,762

300,694

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

as restated

£

£

Bank loans

569,319

582,898

10.	OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company had future commitments under operating leases which totalled £4,259 (2024: £5,323).

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, advances totalling £4,986 were made by the company to the directors'. The balance owed by the directors' to the company at the year-end was £4,986. No interest has been charged and the advances are repayable on demand.

12.	RELATED PARTY DISCLOSURES

At the year-end, the company owed £267,572 (2024: £165,232) to a company under common control. The loan is interest free.