Company registration number 13415224 (England and Wales)
EVORALIS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
PAGES FOR FILING WITH REGISTRAR
EVORALIS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 9
EVORALIS LIMITED
BALANCE SHEET
AS AT
31 MAY 2026
31 May 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Intangible assets
4
45,349
24,545
Tangible assets
5
244,428
202,595
289,777
227,140
Current assets
Debtors
6
122,855
48,160
Investments
7
1,000,000
1,500,000
Cash at bank and in hand
1,324,863
1,804,855
2,447,718
3,353,015
Creditors: amounts falling due within one year
8
(125,580)
(531,951)
Net current assets
2,322,138
2,821,064
Net assets
2,611,915
3,048,204
Capital and reserves
Called up share capital
1,721
1,721
Share premium account
3,242,000
3,242,000
Other reserves
75,067
-
0
Profit and loss reserves
(706,873)
(195,517)
Total equity
2,611,915
3,048,204

For the financial year ended 31 May 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

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 profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 1 August 2026 and are signed on its behalf by:
Dr D A W Kaute
Director
Company registration number 13415224 (England and Wales)
EVORALIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
- 2 -
1
Accounting policies
Company information

Evoralis Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Oak Court, North Leigh Business Park, Oxfordshire, OX29 6SW.

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 sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

A true 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.

1.3
Revenue

Revenue comprises sales of goods or 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 is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.4
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

EVORALIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2026
1
Accounting policies
(Continued)
- 3 -
1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

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

Patents & licences
10 years straight line
Development costs
5 years straight line
1.6
Tangible fixed assets

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

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

Plant and equipment
2-10 years straight line
Fixtures and fittings
3 years straight line
Computers
3 years straight line

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.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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.

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.

EVORALIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2026
1
Accounting policies
(Continued)
- 4 -
1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
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 balance sheet 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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

1.10
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.

1.11
Taxation

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

EVORALIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2026
1
Accounting policies
(Continued)
- 5 -
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 and loss account 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 profit and loss account, 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.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

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.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Share-based payments

Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the market value. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.

When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value.

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

EVORALIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2026
1
Accounting policies
(Continued)
- 6 -

In the case of options granted, fair value is measured by recent share transactions, discounted where applicable for different share class rights.

Each year end the share-based payment is re-measured based on the latest estimate of options vesting. The transaction will be recognised in the financial statements over the vesting period.

1.15
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.16
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

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.

3
Employees

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

2026
2025
Number
Number
Total
17
12
EVORALIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2026
- 7 -
4
Intangible fixed assets
Other
£
Cost
At 1 June 2025
25,585
Additions
24,694
At 31 May 2026
50,279
Amortisation and impairment
At 1 June 2025
1,040
Amortisation charged for the year
3,890
At 31 May 2026
4,930
Carrying amount
At 31 May 2026
45,349
At 31 May 2025
24,545
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 June 2025
103,468
114,568
218,036
Additions
-
0
91,136
91,136
Disposals
-
0
(2,370)
(2,370)
Transfers
(103,468)
103,468
-
0
At 31 May 2026
-
0
306,802
306,802
Depreciation and impairment
At 1 June 2025
-
0
15,441
15,441
Depreciation charged in the year
-
0
48,073
48,073
Eliminated in respect of disposals
-
0
(1,140)
(1,140)
At 31 May 2026
-
0
62,374
62,374
Carrying amount
At 31 May 2026
-
0
244,428
244,428
At 31 May 2025
103,468
99,127
202,595

Assets under construction comprises laboratory equipment, installed and commissioned during June 2025.

EVORALIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2026
- 8 -
6
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
2,291
-
0
Other debtors
120,564
48,160
122,855
48,160
7
Current asset investments
2026
2025
£
£
Other investments
1,000,000
1,500,000

Unlisted investments comprises of cash and cash equivalents totalling £1,000,000 in a 6 month security instrument at 2.42% interest per annum.

8
Creditors: amounts falling due within one year
2026
2025
£
£
Trade creditors
40,943
20,869
Other creditors
84,637
511,082
125,580
531,951
9
Share-based payment transactions
Number of share options
Weighted average exercise price
2026
2025
2026
2025
Number
Number
£
£
Outstanding at 1 June 2025
92,269
-
0
-
-
0
Granted (re-issued)
92,269
92,269
0.10
0.10
Cancelled and reissued
(92,269)
0
-
0
0.10
-
0
Outstanding at 31 May 2026
92,269
92,269
0.10
0.10
Exercisable at 31 May 2026
-
0
-
0
-
0
-
0

The options outstanding at 31 May 2026 had an exercise price of £0.10 per share and a remaining contractual life of 4 years.

The shares options issued in the year under review were granted on 27 May 2025. The first vesting date is 28 May 2026.

There is no fair value options charge in the accounts to 31 May 2025.

EVORALIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2026
9
Share-based payment transactions
(Continued)
- 9 -
2026
2025
£
£
Expenses recognised in the year
Arising from equity-settled transactions
75,067
-
10
Operating lease commitments
As lessee

The current 18 month lease for the laboratory expires on 28 February 2027.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2026
2025
£
£
Total commitments
44,100
8,893
2026-05-31 2025-06-01 false false false 05 August 2026 CCH Software CCH Accounts Production 2026.100 No description of principal activity Dr D A W Kaute Dr J M Holstein Dr M Rangel Pereira Dr J Eck J Guest K J Wadrop 13415224 2025-06-01 2026-05-31 13415224 2026-05-31 13415224 2025-05-31 13415224 core:IntangibleAssetsOtherThanGoodwill 2026-05-31 13415224 core:IntangibleAssetsOtherThanGoodwill 2025-05-31 13415224 core:LandBuildings 2026-05-31 13415224 core:OtherPropertyPlantEquipment 2026-05-31 13415224 core:LandBuildings 2025-05-31 13415224 core:OtherPropertyPlantEquipment 2025-05-31 13415224 core:CurrentFinancialInstruments core:WithinOneYear 2026-05-31 13415224 core:CurrentFinancialInstruments core:WithinOneYear 2025-05-31 13415224 core:CurrentFinancialInstruments 2026-05-31 13415224 core:CurrentFinancialInstruments 2025-05-31 13415224 core:ShareCapital 2026-05-31 13415224 core:ShareCapital 2025-05-31 13415224 core:SharePremium 2026-05-31 13415224 core:SharePremium 2025-05-31 13415224 core:OtherMiscellaneousReserve 2026-05-31 13415224 core:OtherMiscellaneousReserve 2025-05-31 13415224 core:RetainedEarningsAccumulatedLosses 2026-05-31 13415224 core:RetainedEarningsAccumulatedLosses 2025-05-31 13415224 bus:Director1 2025-06-01 2026-05-31 13415224 core:IntangibleAssetsOtherThanGoodwill 2025-06-01 2026-05-31 13415224 core:PatentsTrademarksLicencesConcessionsSimilar 2025-06-01 2026-05-31 13415224 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-06-01 2026-05-31 13415224 core:PlantMachinery 2025-06-01 2026-05-31 13415224 core:FurnitureFittings 2025-06-01 2026-05-31 13415224 core:ComputerEquipment 2025-06-01 2026-05-31 13415224 2024-06-01 2025-05-31 13415224 core:IntangibleAssetsOtherThanGoodwill 2025-05-31 13415224 core:LandBuildings 2025-05-31 13415224 core:OtherPropertyPlantEquipment 2025-05-31 13415224 2025-05-31 13415224 core:LandBuildings 2025-06-01 2026-05-31 13415224 core:OtherPropertyPlantEquipment 2025-06-01 2026-05-31 13415224 2024-05-31 13415224 bus:PrivateLimitedCompanyLtd 2025-06-01 2026-05-31 13415224 bus:SmallCompaniesRegimeForAccounts 2025-06-01 2026-05-31 13415224 bus:FRS102 2025-06-01 2026-05-31 13415224 bus:AuditExemptWithAccountantsReport 2025-06-01 2026-05-31 13415224 bus:Director2 2025-06-01 2026-05-31 13415224 bus:Director3 2025-06-01 2026-05-31 13415224 bus:Director4 2025-06-01 2026-05-31 13415224 bus:Director5 2025-06-01 2026-05-31 13415224 bus:Director6 2025-06-01 2026-05-31 13415224 bus:FullAccounts 2025-06-01 2026-05-31 xbrli:pure xbrli:shares iso4217:GBP