REGISTERED NUMBER: 12065441 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

ELEMENTS SQUARED LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N A J Tait

A W M Haining

Dr D E Mosedale

SECRETARY:

The Cambridge Partnership Limited

REGISTERED OFFICE:

C/o The Cambridge Partnership Ltd

The Dorothy Hodgkin Building

Babraham Research Campus, Babraham

Cambridge

Cambridgeshire

CB22 3FH

REGISTERED NUMBER:

12065441 (England and Wales)

ACCOUNTANTS:

Lovetts Accountants Limited

Devonshire Business Centre

Works Road

Letchworth

Hertfordshire

SG6 1GJ

FIXED ASSETS

Investments

4

143,627

56,200

CURRENT ASSETS

Debtors

5

93,173

4,103

Cash at bank and in hand

16,756

13,939

109,929

18,042

CREDITORS

Amounts falling due within one year

6

15,732

15,300

NET CURRENT ASSETS

94,197

2,742

TOTAL ASSETS LESS CURRENT LIABILITIES

237,824

58,942

CAPITAL AND RESERVES

Called up share capital

865

865

Retained earnings

236,959

58,077

SHAREHOLDERS' FUNDS

237,824

58,942

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2026 and were signed on its behalf by:

A W M Haining - Director

1.	STATUTORY INFORMATION

Elements Squared Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Investments in subsidiaries and associates

Investments in subsidiaries are measured at cost less accumulated impairment.

At each reporting date investments in subsidiaries are assessed to determine whether there is any indication that the assets are impaired and to determine the carrying value of the unlisted investments at fair value through the Income Statement. In determining this amount the company applies the overriding concept that fair value is the amount for which an asset can be exchanged between knowledgeable willing parties in an arm's length transaction. The nature, facts and circumstance of the investment drives the valuation methodology.

Financial instruments

The financial instruments are comprised of financial assets, and are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets are derecognised when the contractual rights to the cashflows from the financial assets expire or substantially all the risks and rewards of ownership of the financial assets are transferred.

The company classifies financial assets as measured at amortised cost.

Financial assets measured at amortised cost are subsequently measured using the effective interest method. Where the contractual cash flows of the financial assets are renegotiated or otherwise modified the financial assets are recalculated at the present value of the modified contractual cash flows discounted at the financial asset's original effective interest rate.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

Interest

group

in

undertakings

associate

Totals

£

£

£

COST

At 1 November 2024

46,000

10,200

56,200

Additions

-

87,427

87,427

At 31 October 2025

46,000

97,627

143,627

NET BOOK VALUE

At 31 October 2025

46,000

97,627

143,627

At 31 October 2024

46,000

10,200

56,200

5.

DEBTORS

31.10.25

31.10.24

£

£

Amounts falling due within one year:

Other debtors

4,631

4,103

Amounts falling due after more than one year:

Other debtors

88,542

-

Aggregate amounts

93,173

4,103

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

£

Trade creditors

600

634

Amounts owed to group undertakings

10,100

10,100

Taxation and social security

2,566

2,521

Other creditors

2,466

2,045

15,732

15,300

7.	FINANCIAL INSTRUMENTS

Included within other debtors are loans issued during the year to associate companies in exchange for convertible loan notes. These loans total £98,675.

These loan notes are interest free for the duration of the loan and on maturity are either repaid or converted to shares at a rate based on the Conversion Cap divided by the number of Fully Diluted Shares.

As these loans are interest free, they have been discounted to the net present value using a market borrowing rate of 8%.