Company Registration No. SC704076 (Scotland)
Neuranics Limited
Unaudited accounts
for the year ended 31 December 2025
Neuranics Limited
Unaudited accounts
Contents
Neuranics Limited
Company Information
for the year ended 31 December 2025
Directors
Dr Hadi Heidari
Professor Kianoush Nazarpour
Noel McKenna
Ronan Anthony Cunningham
Dr Reuben Wilcock
Company Number
SC704076 (Scotland)
Registered Office
Neuranics Ltd
3/1 Rothesay House
134 Douglas Street
Glasgow
Lanarkshire
G2 4HF
Scotland
Accountants
FinFlare Limited
Mitchell House
5 Mitchell Street
Edinburgh
Midlothian
EH6 7BD
Neuranics Limited
Statement of financial position
as at 31 December 2025
Called up share capital not paid
3
3
Tangible assets
181,948
43,258
Cash at bank and in hand
4,302,172
334,640
Creditors: amounts falling due within one year
239,979
47,259
Net current assets
4,852,049
458,698
Net assets
5,034,000
501,959
Called up share capital
35
18
Share premium
7,474,201
1,717,996
Profit and loss account
(2,440,236)
(1,216,055)
Shareholders' funds
5,034,000
501,959
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. 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 May 2026 and were signed on its behalf by
Noel McKenna
Director
Company Registration No. SC704076
Neuranics Limited
Notes to the Accounts
for the year ended 31 December 2025
Neuranics Limited is a private company, limited by shares, registered in Scotland, registration number SC704076. The registered office is Neuranics Ltd, 3/1 Rothesay House, 134 Douglas Street, Glasgow, Lanarkshire, G2 4HF, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The accounts have been prepared on a going concern basis. The Directors have assessed the Company's ability to continue as a going concern and have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future.
The company is in its growth phase and accordingly, losses may be expected as the product is developed and sales and marketing activities are expanded.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Expenditure on research and development is written off in the year in which it is incurred.
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Neuranics Limited
Notes to the Accounts
for the year ended 31 December 2025
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity respectively.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33.33% - Straight Line
Fixtures & fittings
20% - Straight Line
Computer equipment
33.33% - Straight Line
Neuranics Limited
Notes to the Accounts
for the year ended 31 December 2025
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2025
2,291
7,975
40,284
50,550
Additions
129,960
2,857
46,528
179,345
At 31 December 2025
132,251
10,832
86,812
229,895
At 1 January 2025
191
615
6,486
7,292
Charge for the year
19,856
1,906
18,893
40,655
At 31 December 2025
20,047
2,521
25,379
47,947
At 31 December 2025
112,204
8,311
61,433
181,948
At 31 December 2024
2,100
7,360
33,798
43,258
Amounts falling due within one year
Accrued income and prepayments
268,022
43,343
6
Creditors: amounts falling due within one year
2025
2024
Trade creditors
30,708
20,711
Taxes and social security
(491,692)
(149,448)
Deferred income
5,541
5,346
7
Average number of employees
During the year the average number of employees was 20 (2024: 11).