Nextgen Nano Ltd

DIRECTORS' REPORT AND AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 December 2025

​Directors

D S Clark
R E Edwards
F F So
M T Stone

In order to assist you to fulfil your duties under the Companies Act 2006, we​ have prepared for your approval​​ the financial statements of Nextgen Nano Limited for the year ended 31 December 2025 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm​​ of the Institute of Chartered Accountants in England and Wales, we are​​ subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation​.

It is your duty to ensure that Nextgen Nano Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Nextgen Nano Limited. You consider that Nextgen Nano Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the financial statements of Nextgen Nano Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made to the board of Directors​ of Nextgen Nano Limited, as a body​, in accordance with the terms of accountants' engagement letter​. Accountants' work has been undertaken so that the we might compile the financial statements that we have been engaged to compile, report to the Company's board of Directors that we have done so​​ and state those matters that we​​ have agreed to state to them​​​​​ in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we​ do not accept or assume responsibility to anyone other than Nextgen Nano Limited and its board of Directors, as a body, for accountants' work or for this report.

Haggards Crowther LLP 

Chartered Accountants 

2nd Floor, Heathmans House 

19 Heathmans road 

London 

SW6 4TJ

For the year​ ending 31 December 2025, the Company was entitled to exemption from audit under section 477 of the Companies Act 2006.

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 Companies Act 2006 with respect to accounting records and the preparation of financial statements

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 Statement of income and retained earnings in accordance with the 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:

Date: 26 May 2026 

The notes on pages 8 to 14 form part of these financial statements.

Nextgen Nano Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 11033382 and its registered address is Nextgen Nano Ltd, C/O Mishcon De Reya, Africa House, 70 Kingsway, , United Kingdom, London, WC2B 6AH.

The principal activity of the company is research and experimental development on biotechnology.

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 Company's functional and presentational currency is the Pound Sterling.

Information on the impact of first-time adoption of FRS 102 is given in note 2.

The financial statements have been prepared on a going concern basis, which assumes that the Company will continue in operational existence for the foreseeable future. The Directors have considered the Company’s financial position, projected cash flows, and available funding sources in assessing its ability to continue as a going concern.

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end, foreign currency monetary items are translated using the closing rate, non-monetary items measured on a historical cost basis are translated using the exchange rate at the date of the transaction, and non-monetary items measured at fair value in a foreign currency are translated using the rate at the date when the fair value was determined.

Exchange differences arising on the settlement of monetary items or on translating monetary items at rates different from those at which they were translated on initial recognition are recognised in the income statement for the year. Gains and losses relating to borrowings and cash and cash equivalents are presented within 'other finance income or finance costs', with all other foreign exchange gains and losses presented in 'other operating income or expenses'. Where FRS 102 requires a gain or loss on a non-monetary item to be recognised in other comprehensive income, any exchange component of that gain or loss must also be recognised in other comprehensive income.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: 

Interest income

Interest income is recognised using the effective interest rate method when it is probable that the Company will receive the consideration due under the transaction and the amount of the revenue can be measured reliably.

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

Borrowing costs directly attributable to the acquisition, construction or production of a qualifying asset, which is an asset which necessarily takes a substantial period of time to get ready for its intended use or sale, are capitalised as part of the cost of that asset. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. 

The contributions are recognised as an expense in the income statement when they fall due. Amounts not paid are shown as accruals in the Balance sheet. The assets of the scheme are held separately from the Company in independently administered funds.

Investments in subsidiaries are measured at cost less accumulated impairment. Investments in unlisted shares, where market value can be reliably determined, are remeasured at fair value at each balance sheet date with gains and losses on remeasurement recognised in profit or loss for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Cash and cash equivalents include cash in hand, deposits with financial institutions repayable without penalty on notice of not more than 24 hours, other highly liquid investments that mature in no more than three months from the date of acquisition and bank overdrafts. Bank overdrafts, where applicable, are shown within 'Creditors: amounts due within one year'.

Factors affecting tax credit for the year

There were no factors that affected the tax charge for the year which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of 25% (2024 - 25%).