Avgo Biotech Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 09348039

Avgo Biotech Ltd

Filleted Unaudited Financial Statements

31 December 2025

Avgo Biotech Ltd

Statement of Financial Position

31 December 2025

	2025	2024
Note	£	£

Fixed assets

Intangible assets	5	27,334	21,677
Tangible assets	6	5,277	3,116
		--------	--------
		32,611	24,793

Current assets

Debtors	7	10,939	53,816
Cash at bank and in hand		–	2
		--------	--------
		10,939	53,818

Creditors: amounts falling due within one year	8	109,658	37,337
		---------	--------
Net current (liabilities)/assets		( 98,719)	16,481
		--------	--------
Total assets less current liabilities		( 66,108)	41,274
		--------	--------
Net (liabilities)/assets		( 66,108)	41,274
		--------	--------

Capital and reserves

Called up share capital	204	204
Share premium account	433,966	433,966
Profit and loss account	( 500,278)	( 392,896)
	---------	---------
Shareholders (deficit)/funds	( 66,108)	41,274
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31st December 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 financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Avgo Biotech Ltd

Statement of Financial Position (continued)

31 December 2025

These financial statements were approved by the board of directors and authorised for issue on 5 October 2026 , and are signed on behalf of the board by:

Andrew Laurence Stacey
Director

Company registration number: 09348039

Avgo Biotech Ltd

Notes to the Financial Statements

Year ended 31st December 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is No 7 Brunel House, Old Market, Yarm, TEESIDE, TS15 9US.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Income 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.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

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	-	5% straight line

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.

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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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

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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments 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 payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).

5. Intangible assets

	Development costs	Patents, trademarks and licences	Total
	£	£	£
Cost
At 1st January 2025	1,200	20,477	21,677
Additions	–	7,032	7,032
	-------	--------	--------
At 31st December 2025	1,200	27,509	28,709
	-------	--------	--------
Amortisation
Charge for the year	–	1,375	1,375
	-------	--------	--------
At 31st December 2025	–	1,375	1,375
	-------	--------	--------
Carrying amount
At 31st December 2025	1,200	26,134	27,334
	-------	--------	--------
At 31st December 2024	1,200	20,477	21,677
	-------	--------	--------

6. Tangible assets

	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1st January 2025	26,804	168	1,216	28,188
Additions	3,920	–	–	3,920
	--------	----	-------	--------
At 31st December 2025	30,724	168	1,216	32,108
	--------	----	-------	--------
Depreciation
At 1st January 2025	23,688	168	1,216	25,072
Charge for the year	1,759	–	–	1,759
	--------	----	-------	--------
At 31st December 2025	25,447	168	1,216	26,831
	--------	----	-------	--------
Carrying amount
At 31st December 2025	5,277	–	–	5,277
	--------	----	-------	--------
At 31st December 2024	3,116	–	–	3,116
	--------	----	-------	--------

7. Debtors

	2025	2024
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	–	37,690
Other debtors	10,939	16,126
	--------	--------
	10,939	53,816
	--------	--------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	2,782	6,731
Trade creditors	44,026	12,146
Social security and other taxes	193	3,931
Other creditors	62,657	14,529
	---------	--------
	109,658	37,337
	---------	--------

9. Secured creditors

There is a fixed and floating charge held by HSBC Bank Plc over all the company's assets, this covers all the property or undertakings of the company.

10. Related party transactions

During the year interest free loans were made available to the business by the director of £3,924 (2024: £298). There were also loans made to the business from the director and a shareholder subject to interest charges, which had balances at the year end of £45,826.(2024:£nil). There was also interest free debts to associated companies totalling £nil (2024: £37,690) at the year end. Included in the £37,690 opening balance was a loan from Cellular Systems which has been provided for as a bad debt.