2 false false false false false false false false false false true false false false false false false No description of principal activity 2025-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 206,000 206,000 206,000 xbrli:pure xbrli:shares iso4217:GBP 08229389 2025-01-01 2025-12-31 08229389 2025-12-31 08229389 2024-12-31 08229389 2024-01-01 2024-12-31 08229389 2024-12-31 08229389 2023-12-31 08229389 bus:Director1 2025-01-01 2025-12-31 08229389 core:WithinOneYear 2025-12-31 08229389 core:WithinOneYear 2024-12-31 08229389 core:RetainedEarningsAccumulatedLosses 2025-12-31 08229389 core:RetainedEarningsAccumulatedLosses 2024-12-31 08229389 core:CostValuation core:Non-currentFinancialInstruments 2024-12-31 08229389 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2025-12-31 08229389 core:Non-currentFinancialInstruments 2024-12-31 08229389 bus:SmallEntities 2025-01-01 2025-12-31 08229389 bus:AuditExemptWithAccountantsReport 2025-01-01 2025-12-31 08229389 bus:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 08229389 bus:CompanyLimitedByGuarantee 2025-01-01 2025-12-31 08229389 bus:FullAccounts 2025-01-01 2025-12-31
COMPANY REGISTRATION NUMBER: 08229389

Vaccine Formulation Institute Limited

Company Limited by Guarantee

Filleted Unaudited Financial Statements

31 December 2025

Vaccine Formulation Institute Limited

Company Limited by Guarantee

Statement of Financial Position

31 December 2025

| 2025 | 2024
Note | £ | £ | £

Fixed assets

Investments | 6 |  | – | 206,000

Current assets

Debtors | 7 | – |  | 2,450
Cash at bank and in hand | – |  | 10,132
| ---- |  | --------
| – |  | 12,582

Creditors: amounts falling due within one year | 8 | ( 14,652) |  | ( 20,027)
| -------- |  | --------
Net current liabilities |  | ( 14,652) | ( 7,445)
|  | -------- | ---------
Total assets less current liabilities |  | ( 14,652) | 198,555
|  | -------- | ---------
Net (liabilities)/assets |  | ( 14,652) | 198,555
|  | -------- | ---------

Capital and reserves

Profit and loss account |  | ( 14,652) | 198,555
|  | -------- | ---------
Members (deficit)/funds |  | ( 14,652) | 198,555
|  | -------- | ---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Vaccine Formulation Institute Limited

Company Limited by Guarantee

Statement of Financial Position (continued)

31 December 2025
These financial statements were approved by the board of directors and authorised for issue on 7 May 2026 , and are signed on behalf of the board by:

Mr N R Collin
Director

Company registration number: 08229389

Vaccine Formulation Institute Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 December 2025
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 5 Godalming Business Centre, Woolsack Way, Godalming, Surrey, GU7 1XW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Grant income is recognised in the period in which the expenditure that relates is made by the company. During the period, the company received £nil (2024: £45,777) in grant income, a total of £nil has been deferred (2024: £nil).
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Company limited by guarantee
The members of the company guarantee to contribute an amount not exceeding £1 to assets of company in the event of a winding up.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).
6. Investments

| Other investments other than loans
| £
Cost |
At 1 January 2025 | 206,000
Disposals | ( 206,000)
| ---------
At 31 December 2025 | –
| ---------
Impairment |
At 1 January 2025 and 31 December 2025 | –
| ---------

Carrying amount |
At 31 December 2025 | –
| ---------
At 31 December 2024 | 206,000
| ---------

7. Debtors

| 2025 | 2024
| £ | £
Other debtors | – | 2,450
| ---- | -------

8. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Trade creditors | – | 5,067
Corporation tax | 10,026 | 12,260
Other creditors | 4,626 | 2,700
| -------- | --------
| 14,652 | 20,027
| -------- | --------

9. Related party transactions
The company was under the joint control of Mr N Collin and Mr P Dubois throughout the current period. During the period, the director N Collin, invoiced the company for consultancy fees, totalling £19,568 (2024: £11,461)