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Registered number: 08664089 INGENION MEDICAL LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
INGENION MEDICAL LIMITED REGISTERED NUMBER: 08664089 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible fixed assets |  |  | 2,427,067 |  | 2,281,208
Tangible assets | 5 |  | 8,274 |  | 11,025
Investments |  |  | 1 |  | 1
|  |  | 2,435,342 |  | 2,292,234
Current assets |  |  |  |  |
Stocks | 6 | 74,216 |  | 138,763 |
Debtors: amounts falling due within one year | 7 | 363,915 |  | 308,607 |
Cash at bank and in hand | 8 | 67,656 |  | 490,739 |
|  | 505,787 |  | 938,109 |
Creditors: amounts falling due within one year | 9 | (394,475) |  | (291,045) |
Net current assets |  |  | 111,312 |  | 647,064
Total assets less current liabilities |  |  | 2,546,654 |  | 2,939,298
Creditors: amounts falling due after more than one year | 10 |  | (600,537) |  | (382,088)
Net assets |  |  | 1,946,117 |  | 2,557,210
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 3,905 |  | 3,733
Share premium account |  |  | 6,330,844 |  | 5,884,735
Profit and loss account |  |  | (4,388,632) |  | (3,331,258)
|  |  | 1,946,117 |  | 2,557,210
Page 1
INGENION MEDICAL LIMITED REGISTERED NUMBER: 08664089 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 DECEMBER 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Edward Cappabianca
Director
Date: 10 March 2026
The notes on pages 3 to 8 form part of these financial statements. Page 2
INGENION MEDICAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
Ingenion Medical Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH. 2.Accounting policies
| 2.1 | 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, which range from 3 to 6 years. 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.
| 2.2 | Government grants
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Profit and Loss Account in the same period as the related expenditure.
| 2.3 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
| 2.4 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 3
INGENION MEDICAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.4 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 25% |
|  |  |  | Office equipment | - | 25% |
|  |  |  | Computer equipment | - | 25% |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.5 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment. Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.
| 2.6 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.7 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 4
INGENION MEDICAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
3. | Employees
| Staff costs, including directors' remuneration, were as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Wages and salaries | 531,194 | 470,861
| Social security costs | 59,530 | 54,657
| Cost of defined contribution scheme | 13,758 | 14,538
|  | 604,482 | 540,056
| The average monthly number of employees, including directors, during the year was 8 (2024 - 9).
4. | Intangible assets
|  | Development expenditure
|  | £
| Cost |
| At 1 January 2025 | 2,281,208
| Additions | 145,859
| At 31 December 2025 | 2,427,067
| Net book value |
| At 31 December 2025 | 2,427,067
| At 31 December 2024 | 2,281,208
Page 5
INGENION MEDICAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
5. | Tangible fixed assets
|  | Plant and machinery | Office equipment | Computer equipment | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 January 2025 | 8,013 | 2,039 | 4,437 | 14,489
| Additions | - | - | 994 | 994
| At 31 December 2025 | 8,013 | 2,039 | 5,431 | 15,483
| Depreciation |  |  |  |
| At 1 January 2025 | 663 | 297 | 2,504 | 3,464
| Charge for the year on owned assets | 2,003 | 510 | 1,232 | 3,745
| At 31 December 2025 | 2,666 | 807 | 3,736 | 7,209
| Net book value |  |  |  |
| At 31 December 2025 | 5,347 | 1,232 | 1,695 | 8,274
| At 31 December 2024 | 7,350 | 1,742 | 1,933 | 11,025
6. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Stock | 74,216 | 138,763
|  | 74,216 | 138,763
7. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 48,923 | 3,277
| Amounts owed by group undertakings | 297,186 | 297,186
| Other debtors | 5,857 | 7,704
| Prepayments and accrued income | 11,949 | 440
|  | 363,915 | 308,607
Page 6
INGENION MEDICAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 7.Debtors (continued)
8. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 67,656 | 490,739
|  | 67,656 | 490,739
9. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 344,121 | 255,248
| Other taxation and social security | 19,010 | 20,862
| Other creditors | 4,719 | 3,310
| Accruals and deferred income | 26,625 | 11,625
|  | 394,475 | 291,045
10. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Long - term convertible loan note | 600,537 | 382,088
|  | 600,537 | 382,088
Page 7
INGENION MEDICAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
11. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 78,098,000 (2024 - 74,660,000) Ordinary shares of £0.00005 each | 3,905 | 3,733
On the 28th of April 2025, 240,486 ordinary 0.00005 Ordinary shares were issued at par. On the 12th of December 2025,1,856,831 ordinary 0.00005 Ordinary shares were issued at a premium.
Page 8