ACCOUNTS - Final Accounts preparation

Company registration number: 02822726

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 OCTOBER 2025

	ACUIGEN LTD


ACUIGEN LTD

CONTENTS

	Page
Company information	1
Statement of financial position	2 - 3
Notes to the financial statements	4 - 9


ACUIGEN LTD

COMPANY INFORMATION

Directors	Ms T Bartlett
	Mr D Jones
	Mr A Page
	Mr C Lang (appointed 4 July 2025)


Company secretary	Ms T Bartlett


Registered number	02822726


Registered office	Cranfield Innovation Centre
	Cranfield Technology Park
	University Way
	Cranfield
	Bedfordshire
	MK43 0BT


Accountants	Menzies LLP
	Chartered Accountants
	2nd Floor, Midas House
	62 Goldsworth Road
	Woking
	Surrey
	GU21 6LQ

Page 1


ACUIGEN LTD REGISTERED NUMBER:02822726

STATEMENT OF FINANCIAL POSITION

AS AT 31 OCTOBER 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	4		85,016		73,252
Tangible assets	5		30,263		30,289
			115,279		103,541
Current assets
Debtors: amounts falling due within one year	6	96,857		109,615
Cash at bank and in hand		22,196		52,579
		119,053		162,194
Creditors: amounts falling due within one year	7	(451,082)		(469,288)
Net current liabilities			(332,029)		(307,094)
Total assets less current liabilities			(216,750)		(203,553)
Creditors: amounts falling due after more than one year	8		-		(13,334)

Net liabilities			(216,750)		(216,887)

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ACUIGEN LTD REGISTERED NUMBER:02822726

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 OCTOBER 2025

		2025		2024
Note		£		£

Capital and reserves
Called up share capital	100	100
Other reserves	2	2
Profit and loss account	(216,852)	(216,989)
	(216,750)	(216,887)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question 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 financial statements have been prepared 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 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 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 on 27 July 2026.

................................................

Mr D Jones

Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3


ACUIGEN LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

1.	General information

Acuigen Limited is a private Company limited by shares incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's principal place of business is the same as the registered office and is disclosed on the company information page.

2.Accounting policies

2.1

Basis of preparation of financial statements

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 following principal accounting policies have been applied:

2.2

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue operational existence for the forseeable future. Therefore the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

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 at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

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ACUIGEN LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

2.Accounting policies (continued)

2.4

Revenue

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 the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.6

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.8

Borrowing costs

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

Page 5


ACUIGEN LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

2.Accounting policies (continued)

2.9

Pensions

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 profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Amortisation is provided on the following bases:

				Development expenditure	-	33%	on a straight line basis
				Computer software	-	33%	on a straight line basis

2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

				Plant and machinery	-	20%	on reducing balance basis
				Fixtures and fittings	-	20%	on reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Employees

The average monthly number of employees, including directors, during the year was 14 (2024 - 17).

Page 6


ACUIGEN LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

4.	Intangible assets

	Development expenditure	Computer software	Total
	£	£	£
Cost
At 1 November 2024	1,121,770	102,364	1,224,134
Additions	96,638	-	96,638
At 31 October 2025	1,218,408	102,364	1,320,772
Amortisation
At 1 November 2024	1,048,518	102,364	1,150,882
Charge for the year on owned assets	84,874	-	84,874
At 31 October 2025	1,133,392	102,364	1,235,756
Net book value
At 31 October 2025	85,016	-	85,016
At 31 October 2024	73,252	-	73,252

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ACUIGEN LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

5.	Tangible fixed assets

	Fixtures and fittings	Computer equipment	Total
	£	£	£
Cost or valuation
At 1 November 2024	1,089	111,729	112,818
Additions	4,182	3,162	7,344
At 31 October 2025	5,271	114,891	120,162
Depreciation
At 1 November 2024	611	81,918	82,529
Charge for the year on owned assets	828	6,542	7,370
At 31 October 2025	1,439	88,460	89,899
Net book value
At 31 October 2025	3,832	26,431	30,263
At 31 October 2024	478	29,811	30,289

Debtors

					2025	2024
					£	£


Trade debtors	60,722	68,728
Amounts owed by group undertakings	6,441	6,742
Other debtors	-	2,000
Prepayments and accrued income	29,694	32,145
	96,857	109,615

Page 8


ACUIGEN LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank overdrafts	8,625	18,297
Bank loans	13,333	20,000
Other loans	9,585	8,405
Trade creditors	30,588	11,412
Other taxation and social security	29,833	22,546
Other creditors	140,945	188,333
Accruals and deferred income	218,173	200,295
	451,082	469,288

8.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Bank loans	-	13,334
	-	13,334

9.	Transactions with directors
	During the year the following transactions with directors took place:

		Brought Forward	Advance/ Credit	Repaid	Carried Forward
		£	£	£	£

	Amounts due to director (included within other creditors)	184,610	40,000	(87,005)	137,605
		184,610	40,000	(87,005)	137,605

The amounts due to the Director's are unsecured, interest free and repayable on demand.

Page 9