Registration number: 11372447

Empyrean Therapeutics Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 7

Empyrean Therapeutics Limited

Company Information

Director

Dr Thomas William Henley

Registered office

5 High Green Great Shelford Cambridge Cambridgeshire CB22 5EG

Accountants

Tayabali & White 5 High Green Great Shelford Cambridge CB22 5EG

Empyrean Therapeutics Limited

(Registration number: 11372447)
Balance Sheet as at 30 November 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	283,735	159,823
Debtors	5	749,857	-
		1,033,592	159,823
Current assets
Debtors	5	2,754,460	319,821
Cash at bank and in hand		328,689	303,593
		3,083,149	623,414
Creditors: Amounts falling due within one year	6	(2,465,716)	(131,963)
Net current assets		617,433	491,451
Total assets less current liabilities		1,651,025	651,274
Provisions for liabilities		(60,206)	(30,310)
Net assets		1,590,819	620,964
Capital and reserves
Called up share capital	7	1	1
Retained earnings		1,590,818	620,963
Shareholders' funds		1,590,819	620,964

For the financial year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 August 2026
 

Empyrean Therapeutics Limited

(Registration number: 11372447)
Balance Sheet as at 30 November 2025

......................................... Dr Thomas William Henley Director

Empyrean Therapeutics Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The company's registered number is 11372447.

The address of its registered office is:
5 High Green
Great Shelford
Cambridge
Cambridgeshire
CB22 5EG

These financial statements were authorised for issue by the director on 28 August 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Empyrean Therapeutics Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	33% straight line
Plant and machinery	20% straight line
Office equipment	33% straight line
Motor vehicles	20% reducing balance

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2024 - 5).

Empyrean Therapeutics Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

4	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Office equipment £	Motor vehicles  £
Cost or valuation
At 1 December 2024	83,173	289,817	92,844	175,667
Additions	12,656	67,848	10,220	137,795
Disposals	-	(1,006)	(358)	-
At 30 November 2025	95,829	356,659	102,706	313,462
Depreciation
At 1 December 2024	67,482	234,350	83,389	96,457
Charge for the year	11,506	41,766	10,029	41,104
Eliminated on disposal	-	(804)	(358)	-
At 30 November 2025	78,988	275,312	93,060	137,561
Carrying amount
At 30 November 2025	16,841	81,347	9,646	175,901
At 30 November 2024	15,691	55,467	9,455	79,210

	Total £
Cost or valuation
At 1 December 2024	641,501
Additions	228,519
Disposals	(1,364)
At 30 November 2025	868,656
Depreciation
At 1 December 2024	481,678
Charge for the year	104,405
Eliminated on disposal	(1,162)
At 30 November 2025	584,921
Carrying amount
At 30 November 2025	283,735
At 30 November 2024	159,823

Empyrean Therapeutics Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

5

Debtors

Current	2025 £	2024 £
Trade debtors	171,141	42,039
Amounts owed by related parties	276,589	183,717
Prepayments	47,811	41,609
Other debtors	2,258,919	52,456
	2,754,460	319,821

 

Non-current	2025 £	2024 £
Other debtors	749,857	-
	749,857	-

6

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	50,660	11,651
Taxation and social security	820,769	111,189
Accruals and deferred income	5,753	5,767
Other creditors	820	3,356
Amounts due to related parties	1,587,714	-
	2,465,716	131,963

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £0.01 each	100	1	100	1