Company registration number: SC489525
Annual report and unaudited financial statements
for the year ended 30 June 2026
for
OnGen Limited
Pages for filing with the Registrar
OnGen Limited
Accountants’ Report to the Board of Directors for the preparation of the unaudited financial statements
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of OnGen Limited for the year ended 30 June 2026 which comprise the Profit and loss account, Balance sheet and the notes to the financial statements from the company’s accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of OnGen Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of OnGen Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than OnGen Limited and its Board of Directors, as a body, for our work, or for this report.
It is your duty to ensure that OnGen Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of OnGen Limited. You consider that OnGen Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of OnGen Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
NM Advisory Limited
1 Hill Street
Edinburgh
EH2 3JP
United Kingdom
Date: 20 October 2026
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Company registration number: SC489525
OnGen Limited
Balance sheet
as at 30 June 2026
2026 2025
Note £ £ £ £
Fixed assets
Intangible assets 4 1,077,762 1,103,393
Tangible assets 5 748 936
1,078,510 1,104,329
Current assets
Debtors 18,002 21,960
Cash at bank and in hand 5,066 21,510
23,068 43,470
Creditors: amounts falling due within one year
(317,889) (198,177)
Net current liabilities (294,821) (154,707)
Total assets less current liabilities 783,689 949,622
Creditors: Amounts falling due after more than one year
(13,070) (30,454)
Provisions for liabilities (109,915) (112,449)
NET ASSETS 660,704 806,719
Capital and reserves
Called up share capital 210 210
Share premium account 1,369,080 1,369,080
Other reserves 230,000 -
Profit and loss account (938,586) (562,571)
TOTAL EQUITY 660,704 806,719
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 30 June 2026.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: SC489525
OnGen Limited
Balance sheet - continued
as at 30 June 2026
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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 19 October 2026 and signed on its behalf by:
Mr C Trigg, Director
19 October 2026
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OnGen Limited
Notes to the financial statements
for the year ended 30 June 2026
1 Company information
OnGen Limited is a private company registered in Scotland. Its registered number is SC489525. The company is limited by shares. Its registered office is Suite 2, Ground Floor, Orchard Brae House, Edinburgh, EH4 2HS.
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 historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company’s ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer software - OnGen’s policy is to amortise intangible assets over 5 years (previously 10 years). In support of this the directors have considered the useful economic life of the OnGen Expert software and believe it will continue to generate economic value for a period of 5 years.



Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Computer equipment - 50% straight line
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OnGen Limited
Notes to the financial statements - continued
for the year ended 30 June 2026
2 Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred taxation. Tax is recognised in the Profit and loss account, 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 taxation
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 been enacted or substantively enacted by the balance sheet date 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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Government grants
Government grants received in respect of software development activities are accounted for under the performance model in accordance with Section 24 of FRS 102. Grants are recognised in the profit and loss account when the performance-related conditions attaching to the grant have been met. Where no specific performance conditions exist, the grant is recognised when the entity becomes unconditionally entitled to receive the income. Grants received that relate to the development of intangible assets, such as software, are recognised in the profit and loss account as other income when the recognition criteria are satisfied. The corresponding development expenditure is capitalised as an intangible asset when the recognition criteria of Section 18 of FRS 102 are met. There is no deferral of grant income to match against future amortisation of the related intangible asset.

3 Average number of employees
During the year the average number of employees was 5 (2025 - 7).
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OnGen Limited
Notes to the financial statements - continued
for the year ended 30 June 2026
4 Intangible assets
Other intangible assets

£
Cost
At 1 July 2025 1,775,336
Additions 239,581
At 30 June 2026 2,014,917
Amortisation
At 1 July 2025 671,943
Charge for year 265,212
At 30 June 2026 937,155
Net book value
At 30 June 2026 1,077,762
At 30 June 2025 1,103,393
5 Tangible fixed assets
Plant and machinery etc.

£
Cost
At 1 July 2025 9,608
Additions 467
At 30 June 2026 10,075
Depreciation
At 1 July 2025 8,672
Charge for year 655
At 30 June 2026 9,327
Net book value
At 30 June 2026 748
At 30 June 2025 936
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OnGen Limited
Notes to the financial statements - continued
for the year ended 30 June 2026
5 Tangible fixed assets - continued
If Intangible asset had not been revalued, Intangible asset would have been included at the following historical cost:
2026 2025
£ £
Cost 2,014,917 1,755,336
Accumulated depreciation 937,155 671,943
6 Share capital
During the year £230,000 was received by OnGen Ltd from Inspired Ltd. This was in return for a call option with an exclusivity period of 12 months commencing on 17 December 2025. The payment is non- refundable, but for these accounts it has been treated as a capital contribution reserve in the Balance Sheet. This position will be reviewed in the accounts to 30 June 2027.
7 Post balance sheet events
Following the year end the convertible loan note plus accrued interest was converted into equity.
8 Deferred tax
Deferred tax is provided for intangible assets on the difference between the Net Book Value and the historical cost of capitalised software development less capitalised expenditure included in Research & Development claims
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