iso4217:GBP xbrli:pure xbrli:shares iso4217:GBP xbrli:shares SC382118 2025-11-30 SC382118 2024-11-30 SC382118 2024-12-01 2025-11-30 SC382118 2023-12-01 2024-11-30 SC382118 bus:Director4 2024-12-01 2025-11-30 SC382118 bus:Director3 2024-12-01 2025-11-30 SC382118 bus:Director5 2024-12-01 2025-11-30 SC382118 bus:Director2 2024-12-01 2025-11-30 SC382118 bus:Director1 2024-12-01 2025-11-30 SC382118 bus:SmallEntities 2024-12-01 2025-11-30 SC382118 bus:AuditExemptWithAccountantsReport 2024-12-01 2025-11-30 SC382118 bus:FilletedAccounts 2024-12-01 2025-11-30 SC382118 bus:Director1 2024-12-01 2025-11-30 SC382118 2024-12-01 2025-11-30 SC382118 bus:PrivateLimitedCompanyLtd 2024-12-01 2025-11-30
Drug Delivery International Limited
Registration Number SC382118 (Scotland)
Filleted Unaudited Financial Statements
for the year ended 30 November 2025
Drug Delivery International Limited
Filleted Financial Statements for the year ended 30 November 2025
Statement of Financial Position
Notes
2025 £
2024 £
Fixed assets
Intangible assets
2
774,169
733,493
Tangible assets
3
173,672
227,774
947,841
961,267
Current assets
Debtors: Amounts falling due within one year
4
43,119
51,070
Cash at bank and in hand
3,613
15,617
46,732
66,687
Current liabilities
Creditors: amounts falling due within one year
5
965,110
870,620
Net current liabilities
(918,378)
(803,933)
Total assets less current liabilities
29,463
157,334
Non-current liabilities
Creditors: amounts falling due after more than one year
6
-
(21,390)
Provision for liabilities
(13,325)
(39,945)
Net assets
16,138
95,999
Capital and reserves
Called up share capital
7
1,000
1,000
Profit and loss account
15,138
94,999
Shareholder's funds
16,138
95,999
These financial statements and reports have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the statement of comprehensive income has been taken.
For the year ended 30 November 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 of its accounts for the year ended 30 November 2025 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 financial statements.
The financial statements were approved and authorised for issue by the Board of Directors on 31 July 2026.
Dr C C Thomson
Director
Company registration number: SC382118
The notes on pages 3 to 8 form part of these financial statements.
Drug Delivery International Limited
Filleted Financial Statements for the year ended 30 November 2025
Notes to the Financial Statements
1. Summary of significant accounting policies
1.1 General information and basis of preparation
Drug Delivery International Limited is a private company limited by shares, registered in Scotland. The address of the registered office and registration number are as below:
Bio Imaging Unit, Basement Medical Block
Within Glasgow Royal Infirmary
84 Castle Street
Glasgow, Scotland
G4 0SF
These financial statements have been prepared in accordance with FRS 102 the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland as adapted by Section 1A of FRS 102 and the Companies Act 2006.
The nature of the company's operations and principal activity during the year was other research and experimental development on natural sciences and engineering.
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
1.2 Going concern
As at 30 November 2025, the Company had net assets of £16,138 (2024: £95,999) and recorded a loss for the year of £79,861 (2024: £71,588). The Company does not generate external cash income; revenue of £38,170 represents equipment hire charges to BDD Pharma Ltd. The Company's ability to meet its liabilities - including hire purchase and finance lease obligations of £21,390, all of which fall due within one year and are being met on a timely basis - is dependent on the continuation of intragroup financial support from both Bio-Images Drug Delivery Ltd and BDD Pharma Ltd.
At 30 November 2025, the Company owed £892,194 to group undertakings within current liabilities (£616,290 to BDD Pharma Ltd and £275,904 to Bio-Images Drug Delivery Ltd). The directors of BDD Pharma Ltd and the directors of Bio-Images Drug Delivery Ltd have each confirmed in writing that they will not seek repayment of these balances for a period of not less than twelve months from the date of approval of these financial statements. Bio-Images Drug Delivery Ltd has further confirmed that it will provide such additional financial support to the Company as may be required to enable it to meet its liabilities as they fall due throughout the going concern period.
The Company holds intangible assets of £774,169, principally comprising capitalised development expenditure (£771,669) representing the group's drug delivery technology platform. At 30 November 2025, the directors carried out a review for indicators of impairment in accordance with FRS 102 Section 27. Having regard to: (i) the active contracted CDMO study pipeline operated by BDD Pharma Ltd using the group's technology; (ii) new licence fee income of £234,102 generated by BDD Pharma Ltd in the year, representing the first year of recurring revenue from the commercialisation of the group's IP; and (iii) the continued capitalisation of development expenditure (£94,187 added in the year) confirming ongoing technical feasibility and commercial intent - the directors are satisfied that no impairment of the carrying value of intangible or tangible assets is required at 30 November 2025.
The group's financial position has been strengthened by the allotment of 116,368 ordinary shares by Bio-Images Drug Delivery Ltd on 9 February 2026, raising gross proceeds of £799,448. This transaction supports the group's ability to continue providing intragroup financial support to the Company throughout the going concern period.
Drug Delivery International Limited
Filleted Financial Statements for the year ended 30 November 2025
Notes to the Financial Statements
Having considered the confirmed deferral of intragroup debt, the group's external funding position, the additional equity capital raised by the parent post year-end, and the absence of impairment indicators on the Company's IP and laboratory assets, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, these financial statements have been prepared on the going concern basis of accounting.
1.3 Revenue recognition
Turnover represents net invoiced sales of goods and services, excluding VAT, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration. Licence fees and royalties paid for the use of intangible assets are recognised in accordance with the substance of the licensing agreement.
1.4 Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
1.5 Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.
1.6 Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Patents, trademarks and licences -
Licence costs are amortised over a 20 year period
Development expenditure -
Development costs are amortised over a 20 year period
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Drug Delivery International Limited
Filleted Financial Statements for the year ended 30 November 2025
Notes to the Financial Statements
1.7 Research and development
Research expenditure is written off in the period in which it is incurred.
Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met:
• It is technically feasible to complete the intangible asset so that it will be available for use or sale;
• There is the intention to complete the intangible asset and use or sell it;
• There is the ability to use or sell the intangible asset;
• The use or sale of the intangible asset will generate probable future economic benefits;
• There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and
• The expenditure attributable to the intangible asset during its development can be measured reliably.
Expenditure that does not meet the above criteria is expensed as incurred.
1.8 Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
1.9 Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery -
25% reducing balance
Fixtures and fittings -
25% reducing balance
Computer equipment -
25% reducing balance
1.10 Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Drug Delivery International Limited
Filleted Financial Statements for the year ended 30 November 2025
Notes to the Financial Statements
1.11 Financial instruments
A financial asset or financial liability is recognised only when the company becomes a party to the contractual provisions of the financial instrument.
Basic financial assets, which include trade and other debtors, amounts due from group undertakings, and cash and bank balances, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future receipts discounted at the market rate of interest for a similar debt instrument.
Basic financial liabilities, which include trade creditors, bank loans and overdrafts, and other creditors, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future receipts discounted at the market rate of interest for a similar debt instrument.
At each reporting date the company assesses whether there is objective evidence that any financial asset has been impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due. The amount of the provision is recognised immediately in profit or loss.
2. Intangible fixed assets
Reconciliation of changes in intangible assets
Patents £
Development expenditure £
Total £
Cost
At 01 December 2024
10,000
966,024
976,024
Additions
-
94,187
94,187
At 30 November 2025
10,000
1,060,211
1,070,211
Amortisation
At 01 December 2024
(7,000)
(235,531)
(242,531)
Amortisation
(500)
(53,011)
(53,511)
At 30 November 2025
(7,500)
(288,542)
(296,042)
Net book value
At 01 December 2024
3,000
730,493
733,493
At 30 November 2025
2,500
771,669
774,169
Drug Delivery International Limited
Filleted Financial Statements for the year ended 30 November 2025
Notes to the Financial Statements
3. Tangible assets
Balances at year end and movements for the year
Plant and machinery £
Fixtures and fittings £
Computer equipment £
Total £
Cost
At 01 December 2024
1,106,615
38,634
5,026
1,150,275
Additions
3,790
-
-
3,790
At 30 November 2025
1,110,405
38,634
5,026
1,154,065
Depreciation
At 01 December 2024
(906,835)
(10,779)
(4,887)
(922,501)
Charge for the year
(50,893)
(6,964)
(35)
(57,892)
At 30 November 2025
(957,728)
(17,743)
(4,922)
(980,393)
Net book value
At 01 December 2024
199,780
27,855
139
227,774
At 30 November 2025
152,677
20,891
104
173,672
4. Debtors
Debtors comprise:
2025 £
2024 £
Other debtors
39,295
51,070
Social security and other taxes
3,824
-
43,119
51,070
5. Creditors: amounts falling due within one year
2025 £
2024 £
Trade creditors
8,706
47,406
Amounts owed to group undertakings and undertakings in which the company has a participating interest
892,194
769,765
Hire purchase and finance lease agreements
21,390
28,520
Other creditors
42,820
22,640
Social security and other taxes
-
2,289
965,110
870,620
6. Creditors: amounts falling due after more than one year
2025 £
2024 £
Hire purchase and finance lease agreements
-
21,390
-
21,390
Hire purchase and finance lease agreements are secured over the assets to which they relate.
Drug Delivery International Limited
Filleted Financial Statements for the year ended 30 November 2025
Notes to the Financial Statements
7. Called up share capital
Issued, called up and fully paid
2025 Number
2024 Number
Ordinary shares of £1 each
1,000
1,000
2025 £
2024 £
Ordinary shares of £1 each
1,000
1,000
8. Related party transactions
At the year-end Drug Delivery International Limited owed £616,290 (2024: £549,861) to BDD Pharma Ltd. The loan is interest free and there are no fixed repayment terms, although the directors of the company have indicated that they will not be seeking repayment of the loan for a period of at least 12 months from signing these financial statements.
At the year-end Drug Delivery International Limited owed £275,904 (2024: £219,904) to Bio-Images Drug Delivery Ltd. The loan is interest free and there are no fixed repayment terms, although the directors of the parent company have indicated that they will not be seeking repayment of the loan for a period of at least 12 months from signing these financial statements.
9. Controlling parties
The immediate and ultimate parent company is Bio-Images Drug Delivery Ltd, whose registered office address is Bio Imaging Unit, Basement Medical Block Within Glasgow Royal Infirmary, 84 Castle Street, Glasgow, Scotland, G4 0SF.
Appendix - Additional XBRL Tags and Values
Accounting standards applied
[Current]
bus_SmallEntities
Accounts status, audited or unaudited
[Current]
bus_AuditExemptWithAccountantsReport
Accounts type
[Current]
bus_FilletedAccounts
Average number of employees during the period
[Current]
29
Average number of employees during the period
[Prior]
33
Balance sheet date
[Current]
30 November 2025
Date of auditor's report
[Current]
0001-01-01
Date of authorisation of financial statements for issue
[Current]
31 July 2026
Director signing Directors' Report
[Current]
bus_Director1
Director signing financial statements
[Current]
bus_Director1
End date for period covered by report
[Current]
30 November 2025
Entity current legal or registered name
[Current]
Drug Delivery International Limited
Entity is dormant [true/false]
[Current]
false
Entity trading status
[Current]
[default]
Equity [Multiple Tags or Values]
[Prior]
191,998
Equity [Multiple Tags or Values]
[Current]
32,276
Legal form of entity
[Current]
bus_PrivateLimitedCompanyLtd
Name of entity auditors
[Current]
CT
Name of entity officer
[Current]
Ms J Kelley
Name of entity officer
[Current]
Mrs L Gow
Name of entity officer
[Current]
Professor H N E Stevens
Name of entity officer
[Current]
Dr G Crocker
Name of entity officer
[Current]
Dr C C Thomson
Name of individual auditor
[Current]
CT
Name of production software
[Current]
Draftworx Cloud
Start date for period covered by report
[Current]
01 December 2024
UK Companies House registered number
[Current]
SC382118
Version of production software
[Current]
2026.13.0.0