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OPTELLUM LTD

Registered Number
09846477
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2025

OPTELLUM LTD
Company Information
for the year from 1 January 2025 to 31 December 2025

Directors | BISHOP, Tara, Dr
| BRADY, John Michael, Sir
| LIM, Kevin Jong Lin
| TILLMANN, Michael
| WATKINS, Johnathan Angeles, Dr
| MERCIA FUND MANAGEMENT (NOMINEES) LIMITED

Company Secretary | HEWINS, Joseph

Registered Address | 5 Kings Meadow, Osney Mead
| Ferry Hinksey Road
| Oxford
| OX2 0DP

Registered Number | 09846477 (England and Wales)

OPTELLUM LTD
Balance Sheet as at
31 December 2025

| Notes | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |
Tangible assets | 3 |  |  | 29,289 |  |  |  | 30,909
Investments | 4 |  |  | 3,963 |  |  |  | 3,963
|  |  |  | 33,252 |  |  |  | 34,872
Current assets |  |  |  |  |  |  |  |
Debtors | 5 | 4,751,608 |  |  |  | 2,658,516 |  |
Cash at bank and on hand |  | 3,248,182 |  |  |  | 2,149,567 |  |
|  | 7,999,790 |  |  |  | 4,808,083 |  |
Creditors amounts falling due within one year | 6 | (1,460,604) |  |  |  | (818,782) |  |
Net current assets (liabilities) |  |  |  | 6,539,186 |  |  |  | 3,989,301
Total assets less current liabilities |  |  |  | 6,572,438 |  |  |  | 4,024,173
Net assets |  |  |  | 6,572,438 |  |  |  | 4,024,173
Capital and reserves |  |  |  |  |  |  |  |
Called up share capital |  |  |  | 484 |  |  |  | 415
Share premium |  |  |  | 24,037,911 |  |  |  | 18,434,623
Profit and loss account |  |  |  | (17,465,957) |  |  |  | (14,410,865)
Shareholders' funds |  |  |  | 6,572,438 |  |  |  | 4,024,173

- The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
- The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 3 July 2026, and are signed on its behalf by:
WATKINS, Johnathan Angeles, Dr Director Registered Company No. 09846477

OPTELLUM LTD
Notes to the Financial Statements
for the year ended 31 December 2025

1. | Accounting policies
--- | ---

| Statutory information
--- | ---
| The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| Statement of compliance
--- | ---
| The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

| Turnover policy
--- | ---
| Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

| Revenue from rendering of services
--- | ---
| Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

| Employee benefits
--- | ---
| Contributions to defined contribution plans are expensed in the period to which they relate.

| Foreign currency translation
--- | ---
| Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

| Tangible fixed assets and depreciation
--- | ---
| Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

|  | Straight line (years)
| Fixtures and fittings | 5
| Office Equipment | 3

| Investments
--- | ---
| Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

2. | Average number of employees
--- | ---

|  | 2025 |  | 2024
| Average number of employees during the year | 34 |  | 36

3. | Tangible fixed assets
--- | ---

|  | Fixtures & fittings |  | Office Equipment |  | Total
--- | --- | --- | --- | --- | --- | ---
|  | £ |  | £ |  | £
| Cost or valuation
| At 01 January 25 | 2,627 |  | 155,384 |  | 158,011
| Additions | 3,575 |  | 18,032 |  | 21,607
| At 31 December 25 | 6,202 |  | 173,416 |  | 179,618
| Depreciation and impairment
| At 01 January 25 | 1,839 |  | 125,263 |  | 127,102
| Charge for year | 726 |  | 22,501 |  | 23,227
| At 31 December 25 | 2,565 |  | 147,764 |  | 150,329
| Net book value
| At 31 December 25 | 3,637 |  | 25,652 |  | 29,289
| At 31 December 24 | 788 |  | 30,121 |  | 30,909

4. | Fixed asset investments
--- | ---

|  | Investments in groups1 |  | Total
--- | --- | --- | --- | ---
|  | £ |  | £
| Cost or valuation
| At 01 January 25 | 3,963 |  | 3,963
| At 31 December 25 | 3,963 |  | 3,963
| Net book value
| At 31 December 25 | 3,963 |  | 3,963
| At 31 December 24 | 3,963 |  | 3,963

| Notes
--- | ---
| 1Investments in group undertakings and participating interests

5. | Debtors: amounts due within one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade debtors / trade receivables | 1,287,021 |  | 186,734
| Other debtors | 3,384,113 |  | 2,395,064
| Prepayments and accrued income | 80,474 |  | 76,718
| Total | 4,751,608 |  | 2,658,516

| Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

6. | Creditors: amounts due within one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade creditors / trade payables | 193,290 |  | 111,009
| Taxation and social security | 215,911 |  | 103,154
| Other creditors | 20,028 |  | 19,714
| Accrued liabilities and deferred income | 1,031,375 |  | 584,905
| Total | 1,460,604 |  | 818,782

| Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.