Company registration number 08726618 (England and Wales)
NGEN CAPITAL LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
NGEN CAPITAL LTD
CONTENTS
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 9
NGEN CAPITAL LTD
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
4
18,863
23,715
Current assets
Debtors
5
436,765
371,722
Cash at bank and in hand
15,053
10,099
451,818
381,821
Creditors: amounts falling due within one year
6
(42,206)
(42,508)
Net current assets
409,612
339,313
Total assets less current liabilities
428,475
363,028
Creditors: amounts falling due after more than one year
7
(4,365)
(14,675)
Net assets
424,110
348,353
Capital and reserves
Called up share capital
500,076
500,076
Profit and loss reserves
(75,966)
(151,723)
Total equity
424,110
348,353

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 20 July 2026 and are signed on its behalf by:
I Chakraborty
Director
Company registration number 08726618 (England and Wales)
NGEN CAPITAL LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
As restated for the period ended 31 December 2024:
Balance at 1 January 2024
500,076
(300,987)
199,089
Prior period adjustment (see note 11)
-
65,930
65,930
As restated
500,076
(235,057)
265,019
Year ended 31 December 2024:
Profit and total comprehensive income
-
83,334
83,334
Balance at 31 December 2024
500,076
(151,723)
348,353
Year ended 31 December 2025:
Profit and total comprehensive income
-
75,757
75,757
Balance at 31 December 2025
500,076
(75,966)
424,110
NGEN CAPITAL LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
1
Accounting policies
Company information

Ngen Capital Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 12 Old Bond Street, London, W1S 4PW.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in British Pound Sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

The going concern assumption is dependent on the recoverability of the items included within note 9 of the financial statements. The directors and shareholders have provided assurances that the amounts disclosed are recoverable.

1.3
Revenue

Revenue comprises sales of services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts.

Revenue from contracts for the provision of professional services is recognised by reference to the period to which the services relate.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

NGEN CAPITAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

NGEN CAPITAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit or loss because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

NGEN CAPITAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 6 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Going concern

In the judgement of the directors, it is appropriate to prepare the financial statements in accordance with the going concern basis of accounting. See note 1.2 for further details.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2025 and 31 December 2025
63,415
Depreciation and impairment
At 1 January 2025
39,700
Depreciation charged in the year
4,852
At 31 December 2025
44,552
Carrying amount
At 31 December 2025
18,863
At 31 December 2024
23,715
NGEN CAPITAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
5
Debtors
2025
2024
as restated
Amounts falling due within one year:
£
£
Trade debtors
21,528
29,397
Other debtors
406,127
306,212
427,655
335,609
Deferred tax asset
9,110
36,113
436,765
371,722
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
10,793
10,538
Other creditors
31,413
31,970
42,206
42,508
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
4,365
14,675
8
Deferred taxation

The following are the major deferred tax assets recognised by the company:

Assets
Assets
2025
2024
as restated
Balances:
£
£
Tax losses
9,110
36,113
2025
Movements in the year:
£
Asset at 1 January 2025
(36,113)
Charge to profit or loss
27,003
Asset at 31 December 2025
(9,110)
NGEN CAPITAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
8
Deferred taxation
(Continued)
- 8 -

The deferred tax asset set out above is expected to reverse within 12 months and relates to the utilisation of tax losses against future expected profits of the same period.

9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Emphasis of matter

As stated within the going concern accounting policy, show at note 1.2 of financial statements, the going concern assumption is dependent on the recoverability of balances owed from its related parties, as disclosed within note 10 of the financial statements.

Senior Statutory Auditor:
Spencer Watson FCA
Statutory Auditor:
Buckley Watson Limited
Date of audit report:
20 July 2026
10
Related party transactions

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due from related parties
£
£
Other related parties
403,876
321,212
Other information

The above related party loans had no interest applied.

11
Prior period adjustment

It was identified that in the year ended 31 December 2024, conditions for a deferred tax asset to be recognised existed. A prior period adjustment has been included in these financial statements to bring in the deferred tax asset as well as the appropriate annual release of the asset.

NGEN CAPITAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
11
Prior period adjustment
(Continued)
- 9 -
Reconciliation of changes in equity
1 January
31 December
2024
2024
£
£
Adjustments to prior year
Deferred tax asset
65,930
36,113
Equity as previously reported
199,089
312,240
Equity as adjusted
265,019
348,353
Analysis of the effect upon equity
Profit and loss reserves
65,930
36,113
Reconciliation of changes in profit for the previous financial period
2024
£
Adjustments to prior year
Deferred tax asset
(29,817)
Profit as previously reported
113,151
Profit as adjusted
83,334
Changes to the statement of financial position
As previously reported
Adjustment at 1 Jan 2024
Adjustment at 31 Dec 2024
As restated at 31 Dec 2024
£
£
£
£
Current assets
Debtors due within one year
335,609
65,930
(29,817)
371,722
Capital and reserves
Profit and loss reserves
(187,836)
65,930
(29,817)
(151,723)
Changes to the income statement
As previously reported
Adjustment
As restated
Period ended 31 December 2024
£
£
£
Taxation
-
(29,817)
(29,817)
Profit for the financial period
113,151
(29,817)
83,334
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