Aptamer Group
plc
("Aptamer", the "Company" or the "Group")
Interim results for the six
months ended 31 December 2024
Revenue growth, solid cash
position and strong technical progress
Aptamer Group plc (AIM:
APTA), the developer of novel
Optimer® binders to enable innovation in the life
sciences industry, today announces its unaudited interim results for the six
months ended 31 December 2024 (H1 2025).
Financial highlights
· Revenue £0.7
million (H1 2024: £0.3 million).
· Adjusted EBITDA
loss of £1.1 million (H1 2024: £1.8 million).
· Cash balance at
31 December 2024 of £2.0 million (H1 2024: £1.8
million).
·
Successful fundraising in August 2024 of £2.6
million (net) at 0.2p per share.
·
Completed a further reduction of the fixed cost
base to circa £3.0 million per annum during the period.
Operational highlights
Board changes and strategic focus
· In August 2024,
the Board was restructured with Dr Adam Hargreaves appointed as
Non-Executive Chairman, Dr Arron Tolley re-appointed as Chief
Executive Officer, Andrew Rapson appointed to the Board as Chief
Financial Officer.
· In September
2024, Tim Sykes was appointed to the Board as Non-Executive
Director.
·
New strategic approach launched with a focus on
equity value creation through the development of
high-value Optimer assets with licensing potential through commercial partners
supplemented by short-term revenues from fee-for-service
work.
Optimer programmes
· Contract with
Unilever extended in September 2024 to enable testing of deodorant
Optimers in on-person trials.
· Deodorant
Optimer trials initiated on human skin with Unilever, on schedule,
in Q4 2024 with promising initial stability results.
· Binders for
Neuro-Bio's novel Alzheimer's disease target have been validated in
clinical samples to the highest level of statistical significance
(1:100,000 probability of occurring by chance).
· Agreement with
AstraZeneca in July 2024 to explore fibrotic liver delivery vehicle
for the targeted delivery of AstraZeneca's siRNA
payload.
· In vitro
portion of the AstraZeneca programme was
completed in December 2024, showing successful selective delivery
of siRNA and gene silencing.
· In-house
demonstration of the fibrotic liver delivery vehicle with specific
siRNA molecules targeting the mechanism of fibrosis. Data shows
ability of system to reverse markers of liver fibrosis, suggesting
a potential therapeutic approach.
Fee-for-service development
· Contract with
genetic medicines partner progressed to final stages of development
for Optimer delivery vehicles in November 2024, following customer
validation of target selectivity and demonstration of pan-species
binding.
· Multiple
agreements with top 20 pharmaceutical and leading biotechnology
companies for Optimer development as critical reagents to support
therapeutic development programmes.
· Extension
contract signed with top 20 pharmaceutical partner in December 2024
for the optimisation of developed binders to protein
purification.
· Successfully
developed binders as part of a Eurostars grant project
for use in a medical device for improved
non-invasive prenatal testing and the diagnosis of placental
disease, with significant interest from
commercial partners for potential licensing.
· Successful
development of enzyme modulating Optimers for global life science
enzyme provider, with licensing discussions underway.
Commenting on the interim results, Dr Arron Tolley, Chief
Executive Officer of Aptamer Group, said:
"I am pleased to report significant milestones
across each of the Group's asset development programmes. This
includes the initiation of human skin trials with Unilever for our
Optimer deodorant additives. We have also validated our binders for
Alzheimer's disease diagnostics with clinical samples with solid
results. The Group's internal focus on drug delivery is
moving forward at pace with success in lab-based tests for our
fibrotic liver delivery vehicle with AstraZeneca and other internal
validation work using the same delivery vehicle, such as reversal
of fibrosis markers using a different siRNA. These advancements
reinforce the power of Aptamer's platform and the Group's ability
to deliver commercially valuable molecules across a range of
different areas.
Our fee-for-service pipeline has
delivered success across multiple customer projects, creating
additional valuable assets within the enzyme modulating reagent
sector, where licensing discussions are currently underway.
Furthermore, a second validated therapeutic delivery vehicle is now
in the final stage of commercial development. These assets will add
to Aptamer's current portfolio, supporting downstream revenues and
further demonstrating the strength of the Group's discovery
platforms. We are focusing on the commercial exploitation of
numerous assets from a licensing perspective, which exemplifies the
potential value of the Group's platform and its progression towards
generating passive income streams.
In addition to technical progress,
Aptamer is beginning to deliver strong and sustainable commercial
momentum, signing multiple new contracts with global market-leading
pharmaceutical companies, many of which represent repeat business.
With a solid cash position and an advanced-stage sales pipeline, we
are well-positioned to continue executing the Group's strategy,
advancing assets towards commercialisation with partners, and
delivering shareholder value."
Investor webinar
Dr Arron Tolley (Chief Executive
Officer) and Andrew Rapson (Chief Financial Officer) will provide a
live presentation relating to the Interim Results via Investor Meet
Company on Tuesday, 11 March 2025, 14:00 GMT.
The live presentation is open to
all existing and potential shareholders. Questions can be submitted
at any time during the live presentation.
Investors can sign up to Investor
Meet Company for free and add to meet Aptamer Group plc
via:
https://www.investormeetcompany.com/aptamer-group-plc/register-investor
Investors who already follow
Aptamer Group Plc on the Investor Meet Company platform will
automatically be invited.
- Ends -
For further information, please
contact:
|
Aptamer Group plc
Arron Tolley, Chief Executive
Officer
|
+44 (0) 1904 217
404
|
|
SPARK Advisory Partners Limited - Nominated
Adviser
Andrew Emmott / Jade
Bayat
|
+44 (0) 20 3368
3550
|
|
Turner Pope Investments (TPI) Limited -
Broker
James Pope / Andrew
Thacker
|
+44 (0) 20 3657
0050
|
|
Northstar Communications Limited - Investor
Relations
Sarah Hollins
|
+44 (0) 113 730 3896
|
About Aptamer Group
Aptamer Group is a leading global
developer of aptamer-based ligands that help scientists remove the
limits to discovery and innovation. Leveraging several proprietary
discovery and development platform, Aptamer delivers custom
affinity ligands, supported with a complete suite of
characterisation and validatory assays that enhance the translation
of its binders and optimise scientific outcomes for
customers.
Aptamer's cutting-edge technology
spans healthcare, research, personal care, and industrial
processes, delivering new affinity solutions for novel targets,
advanced diagnostics, and precision therapies. By working with
industry leaders in pharmaceutical, biotechnology, personal health,
academic, and clinical research sectors, Aptamer is accelerating
science through the custom development of tools and
therapies.
To register for news alerts by
email, go to https://aptamergroup.com/investors/investor-news-email-alerts/
Chief Executive Officer's statement
Overview
As part of the Group's strategy
set by the newly structured Board during the period, Aptamer is
focused on leveraging its Optimer discovery platform to develop
binders for use across the life science industry. The Group is
advancing several assets towards commercialisation with partners.
These assets target the $210bn global
affinity ligand market, have high potential licensing value and
cover applications in cosmetics, diagnostics, and
therapeutics.
In addition to strategic asset
development, Aptamer supports a fee-for-service pipeline through
its discovery platform, which underpins short-term revenue
generation and acts as a horizon-scanning tool to determine
potential areas of best fit for the Group's platform for future
asset development.
Significant technical progress has
been made in advancing Aptamer's Optimer assets during the first
half of the year. Each of the Group's partnered programmes has
reached critical milestones and increased traction has been shown
with several developed Optimer binders showing positive progress in
our customers' hands.
The Group's fee-for-service
development has also seen strong commercial growth, including
multiple contracts signed with global market-leading pharmaceutical
companies and additional contracts won with biopharmaceutical
partners.
Results summary
Aptamer delivered a substantial
increase in revenue from its fee-for-service work in the first half
of the year, which totalled £0.7 million (H1 2024: £0.3 million).
As at 31 December 2024, an additional £0.5 million of contracted
work was being delivered through the laboratory, with a strong
sales pipeline valued at £5.1 million and £3.2 million of this
potential value in advanced negotiations. Many of the newly signed
contracts for the period represent repeat business for Aptamer,
indicating the improving market acceptance and need for the Group's
technology within the life science industry.
During the period, Aptamer
completed equity placings, receiving net proceeds of £2.6 million.
These funds leave the Group well-placed to execute its strategic
programmes over the near term.
Aptamer is committed to
maintaining a lean cost base to allow the Group to work towards
Adjusted EBITDA break-even as revenues build. To make the
progression to positive net cashflow and EBITDA break-even more
achievable, Aptamer further reduced its fixed cost base from £3.6
million to £3.0 million during the period through a reduction of
the operational headcount. Importantly, reductions to the Group's
ongoing cost base have not compromised operational capacity or the
scientific expertise within Aptamer, ensuring the required skill
base for continued technical and commercial advancement.
At the period end, Aptamer had
cash reserves of £2.0 million (H1 2024: £1.8 million). This solid
financial position currently supports the Group's ability to
execute its strategic plans.
Strategic Optimer programmes
Optimer as a novel ingredient in deodorant
In partnership with Unilever,
Aptamer is developing Optimer binders as novel active ingredients
in deodorants. Following the successful development of the binders'
rigorous lab-based tests at both Aptamer and Unilever, the binders
have shown highly positive and reproducible results. A patent was
submitted in March 2024 to protect the developed binders. During
the period, the contract with Unilever was extended to allow
progression to on-person trials, the first phase was initiated on
schedule in December 2024 with the testing of the Optimer binders
in human skin samples. In-house analysis at Aptamer has shown the
binders to be highly stable in skin samples, demonstrating their
suitability for development as part of personal care products.
Stability and safety studies are ongoing at Unilever, with further
on-person trials anticipated this financial year.
Optimer for Alzheimer's disease diagnostic
Working with Neuro-Bio, Aptamer
has developed Optimer binders to a novel Alzheimer's disease
biomarker to enable a diagnostic test for early-stage Alzheimer's
disease. The developed binders have been characterised and
integrated into biosensor tests at Neuro-Bio. Validation of the
tests with clinical saliva and spinal fluid samples has shown a
statistically significant distinction between biomarker levels in
Alzheimer's disease patients vs healthy individuals (1:100,000
probability of occurring by chance). The Optimer binder has been
robustly validated and is driving the development of two
point-of-care diagnostic platforms for in-clinic and at-home
use.
Therapeutic delivery vehicle for fibrotic
liver
Aptamer has developed an Optimer
delivery vehicle selective for activated hepatic stellate cells
"HSC" - which are the cells responsible for driving liver fibrosis.
This binder can selectively deliver therapeutic payloads to HSC
within the liver with the intention of developing new treatment
approaches to liver fibrosis. The Optimer has been successfully
manufactured with several different siRNA molecules. Analysis of
the Optimer-siRNA construct in lab-based tests has shown selective
targeting and concentration-dependent gene silencing, demonstrating
effective functionality and the ability of the Optimer to
selectively deliver RNA therapies to a target cell - overcoming a
current limitation in many gene-based therapies which is delivery
of the therapy to the site of action.
Based on the positive results
achieved with the delivery vehicle, a collaboration was initiated
with AstraZeneca at the start of the period to explore the
functionality of the Optimer with AstraZeneca's siRNA. Lab-based
tests have successfully demonstrated proof of principle, with
conjugation of the siRNA, selective targeting of the Optimer-siRNA
to the intended cell type, and effective gene silencing. The
project will now advance to assess the performance of the
Optimer-siRNA in animal models of liver fibrosis.
As part of Aptamer's in-house
development of the fibrotic liver delivery vehicle, it has been
successfully trialled with an siRNA molecule with the potential to
disrupt the fibrosis process. Results show that the Optimer-siRNA
reduces markers of fibrosis to healthy levels, indicating a
potential therapeutic approach. Further studies are ongoing to
assess this conjugate in functional assays.
Fee-for-service work
Aptamer's fee-for-service work
delivers binders for use in customer research, bioprocessing,
diagnostic and therapeutic applications. The Group strives to
retain ownership of the intellectual property in relation to the
binders developed for customers, thus building a portfolio of
assets with the potential for royalty and licence fee income. The
Group is progressing with several potentially lucrative licensing
opportunities with multiple customers regarding developed assets
for a range of applications.
During the first half of the year,
five new contracts were signed with top 20 pharmaceutical
companies. Four of the contracts are aimed at developing Optimers
as critical reagents to support active clinical development
programmes and facilitate the analysis of novel therapeutics. An
additional extension contract with a top 20 pharmaceutical company
is to optimise previously developed binders for use in protein
purification.
Several contracts have been won
with biopharmaceutical and biotechnology customers for binder
development to enable the accurate bioanalysis of clinical trials,
for immunohistochemistry reagents, for the development of vaccine
adjuvants, to progress a drug delivery vehicle, and for diagnostic
biosensor development demonstrating the wide range of potential
applications of Aptamer's technology.
Specifically, in November 2024,
Aptamer's partnership with a genetics medicine company resulted in
the successful development of a targeted Optimer delivery vehicle.
Aptamer's binders showed excellent validation for specificity and
pan-species binding, resulting in the commencement of the final
commercial development phase. The delivery vehicle is intended to
be used as part of a precision therapy, which would deliver
downstream licensing revenue for Aptamer.
Further successful Optimer
projects from the pipeline include binders delivered as part of the
Eurostars project to support foetal diagnostics and a reagent for a
global life science enzyme supplier. The binder delivered as part
of the Eurostars project has been delivered to a commercial partner
for in-house testing with the potential for downstream licensing.
The Optimer reagent for use in assay kits has been validated at
Aptamer and within the customer's labs, and licensing discussions
are currently ongoing with multiple commercial partners.
Board and senior management changes
In August 2024, the Board was
restructured, with Dr Adam Hargreaves appointed as Non-Executive
Chairman, Dr Arron Tolley re-appointed as Chief Executive Officer,
Andrew Rapson appointed to the Board as Chief Financial Officer. In
September 2024, Tim Sykes was appointed to the Board as
Non-Executive Director.
Summary and outlook
Aptamer has made significant
progress in advancing its current Optimer binders, with new
potential assets emerging from the fee-for-service development
work, many of which are currently under licensing negotiation with
relevant partners. This validates the new Board's more focused
strategy with the potential for large-scale equity value creation
through licensing revenues associated with developed assets,
supplemented by a growing fee-for-service business that acts as a
strong source for future asset selection.
The Group remains committed to delivering long-term shareholder
value through strategic asset development, revenue growth and
technical innovation. The Board is pleased with the progress made
during the period, which has strengthened the Group's position for
sustained growth as a leader in the affinity ligand space for the
life science market.
Financial review
Revenue
Revenue for the six months ended
31 December 2024 was £0.7 million (H1 2024: £0.3 million) driven by
a much-improved production pipeline entering into the financial
period. The Group has seen improved scientific delivery
resulting in a number of projects delivering working binders to
customers for them to test and validate.
During the period, a further £0.7
million of signed orders were received and the Group finished the
period with £0.5 million of orders to take into the second half of
the financial year. The pipeline at the period end stood at £5.1
million, which included £3.2 million of advanced stage deals, which
the Group will be looking to convert a portion of during the second
half of the financial year.
Gross profit
Gross profit for the first half of
the financial year was £0.4 million (H1 2024: £nil), representing a
56% gross profit margin and a significant improvement over the
recent full year gross margin of 29%. This improvement has come
from an increased volume of customer work utilising more laboratory
capacity in this period.
Administrative expenses
Administrative expenses were £1.5
million for the first six months of the year compared with £1.7
million for the same period last year. This decrease in costs has
been achieved through a reduction in headcount. Headcount
reduced from 34 at 30 June 2024 to 28 at 31 December
2024.
Research and development costs
During the first half of the
financial year the Group expensed £0.2 million (H1 2024: £0.2
million) within Administrative Expenses on research and development
costs (employee costs and raw materials), related to building a
body of data for Optimer-based gene therapy and precision
chemotherapy and process improvements to streamline the production
process.
Adjusted EBITDA*
Adjusted EBITDA was a loss of £1.1
million for the six months ended 31 December 2024 (H1 2024: £1.8
million). The decrease in loss was a result of improved revenue and
gross margin, lower administrative costs and an increase in other
operating income from sub-letting available office space and a
Eurostars grant.
*Adjusted EBITDA is defined as
Operating Loss before Share-based payment expense, Amortisation and
Depreciation and a reconciliation to Operating Loss is shown within
the Consolidated Statement of Profit and Loss and Comprehensive
Income.
Tax
The Group claims research and
development ("R&D") tax credits. Since it is loss making, the
Group elects to surrender these tax credits for a cash rebate. The
benefit to the Group is included within the taxation line of the
income statement and amounts to £0.1 million for the first half of
the year. Within current assets is a corporation tax debtor of £0.3
million, which relates to anticipated R&D tax credits in
respect of claims not yet received/submitted for the 2024 and 2025
financial years. The claim for the year to 30 June 2024
amounted to £0.2 million and was received in February 2025. Tax
losses carried forward totalled £12.0 million (June 2024: £11.4
million). The Group has not recognised any deferred tax assets in
respect of trading losses arising in the current period or
accumulated losses in previous periods.
Loss for the period
The loss for the period was £1.1
million (H1 2024: £1.8 million). The basic and diluted loss per
ordinary share decreased to 0.07 pence per share (H1 2024: 0.5
pence per share) based upon an average number of shares in issue
during the period of 1,583,220,709 (H1 2024:
359,338,261).
Cash flow
The Group had £2.0 million of cash
at 31 December 2024 (H1 2024: £1.8 million, FY24: £0.9 million).
The cash inflow for the six-month period to 31 December 2024 was
£1.1 million. During the period proceeds of £2.6m, net of costs,
were received from placings. Net cash used in operations totalled
£1.3 million, which is slightly higher than the Adjusted EBITDA
loss of £1.1 million due to a build up of trade debtors at the
period end which were cleared in January and February
2025.
Going concern
For the reasons set out in note 3,
the Directors believe that it remains appropriate to prepare the
financial statements on a going concern basis.
NOTES TO THE FINANCIAL
STATEMENTS
For the six-month period ended 31 December
2024
1. GENERAL
INFORMATION
Aptamer Group plc ('the Company')
is a public limited company domiciled and incorporated in England
and Wales. These interim consolidated financial statements of the
Company for the six-month period ended 31 December 2024 comprise
the Company and its subsidiaries (together referred to as 'the
Group').
The address of the Company's
registered office is Windmill House, Innovation Way, Heslington,
York, YO10 5BR.
This interim report was authorised
for issue in accordance with a resolution of the Directors on 10
March 2025.
2. BASIS OF
PREPARATION
The results for the 6 month
periods to 31 December 2024 and 31 December 2023 are unaudited. The
disclosed figures are not statutory accounts in terms of Section
435 of the Companies Act 2006. Statutory accounts for the year
ended 30 June 2024 on which the auditors gave an audit report which
was unqualified, have been filed with the Registrar of Companies.
The auditor has reported on those accounts; their report was
unqualified and did not contain a statement under Section 498(2) or
(3) of the Companies Act 2006; though it did include a reference to
a matter to which the auditor drew attention by way of emphasis
without qualifying their report in relation to going concern. The
annual financial statements of the Group are prepared in accordance
with UK adopted International Financial Reporting Standards (IFRS)
and, as regards the Company financial statements, as applied in
accordance with the provisions of the Companies Act
2006.
This interim report has been
prepared on a basis consistent with the accounting policies
expected to be applied for the year ending 30 June 2025, and uses
the same accounting policies and methods of computation applied for
the year ended 30 June 2024.
3. GOING
CONCERN
The Group has reported a loss
after tax for the six months ended 31 December 2024 of £1.1 million
(six months ended 31 December 2023: £1.8 million). The Group
had a cash balance of £2.0 million at 31 December 2024 (31 December
2023: £1.8 million). Since that date, the Group has received
R&D tax credits of £0.2 million and at 28 February 2025 still
had a cash balance of £2.0 million.
The Directors have considered the
suitability of the going concern basis in the preparation of these
interim results, which includes assessing an internal forecast
extending out to June 2026. The Directors consider that this
forecast represents a reasonable best estimate of the performance
of the Group over the period to June 2026. In the forecast,
revenue is forecast to grow based on a risk adjusted review of the
current sales pipeline. Should these sales materialise then the
cash runway extends more than 12 months from the date of these
interim results.
The Directors have also considered
a plausible downside scenario where revenue growth is slower than
expected. Should this downside materialise, then the Group would
need to seek additional funding. The Directors have a reasonable
expectation that the Group will be able to access further funding,
which could come from a variety of dilutive and non-dilutive
sources, the latter including the licensing of intellectual
property it has developed to commercial partners, several of which
it is in discussions with for such a licensing deal.
However, there can be no guarantee
that the Group would be able to raise additional funding from an
equity fundraise to new and existing investors, nor that the Group
will successfully complete any licensing of its intellectual
property assets in the near term.
Based on the above factors, the
Directors believe that it remains appropriate to prepare the
interim results on a going concern basis. However, the above
factors give rise to a material uncertainty which may cast
significant doubt over the Group's ability to continue as a going
concern and to continue realising its assets and discharging its
liabilities in the normal course of business. The financial
statements do not include any adjustments that would result from
the basis of preparation being inappropriate.
4.
REVENUE
An analysis of revenue, all of
which relates to the sale of services, by geographical location of
the customer is given below:
|
|
6 months ended 31 December
2024
£'000
|
6 months ended 31 December
2023
£'000
|
Year ended
30 June
2024
£'000
|
|
United Kingdom
|
168
|
64
|
143
|
|
Europe
|
101
|
38
|
14
|
|
Rest of the World
|
384
|
196
|
703
|
|
|
653
|
298
|
860
|
All assets are located in, and
services delivered from, the United Kingdom.
5. OPERATING
LOSS
The operating loss for the
period/year is stated after charging:
|
|
6 months ended 31
December
2024
|
6 months
ended 31 December
2023
|
Year
ended 30 June
2024
|
|
|
£'000
|
£'000
|
£'000
|
|
Employee remuneration
|
964
|
1,147
|
2,059
|
|
Share-based payments
(credit)/expense
|
(6)
|
1
|
49
|
|
Research and development raw
materials
|
120
|
170
|
317
|
|
Depreciation of property, plant,
and equipment
|
72
|
73
|
151
|
|
Depreciation of right-of-use
assets
|
32
|
34
|
81
|
|
Amortisation of intangible
assets
|
11
|
5
|
13
|
|
Raw materials and consumables
used
|
89
|
104
|
169
|
6.
TAXATION
The Group's tax credit for the six
months ended 31 December 2024 was £88,000 (six months ended 31
December 2023: £96,000; year ended 30 June 2024:
£183,000).
Within current assets is a
corporation tax debtor of £280,000, which relates to anticipated
R&D tax credits in respect of claims not yet received /
submitted for the 2024 and 2025 financial years. The claim for the
year to 30 June 2024 amounted to £187,000 and was received in
February 2025.
At 31 December 2024 the Group had
unrelieved tax losses of approximately £12,020,000 (30 June 2024 -
£11,384,000). A deferred tax asset has not been recognised in
respect of these losses due to the uncertain timing of future
profits, except for losses recognised against deferred tax
liabilities against which the losses will automatically unwind (and
which are accordingly offset).
7. LOSS PER
SHARE
|
|
6 months
ended 31
December
2024
|
6 months ended 31 December
2023
|
Year ended 30 June
2024
|
|
Basic loss per share
|
0.07p
|
0.50p
|
0.71p
|
|
Diluted loss per share
|
0.07p
|
0.50p
|
0.71p
|
|
Loss for the
period/year
|
£1,112,000
|
£1,807,000
|
£2,958,000
|
|
Weighted average number of
ordinary shares used
as the denominator in calculating
the basic/diluted loss
per share
|
1,583,220,709
|
359,338,261
|
415,107,581
|
|
|
|
|
| |
8. PROPERTY,
PLANT AND EQUIPMENT
|
|
Leasehold improvements
£'000
|
Other property, plant and
equipment
£'000
|
Fixtures, fittings and
equipment
£'000
|
Total
£'000
|
|
Cost
|
|
|
|
|
|
At 1 July
2023
|
1,603
|
1,457
|
44
|
3,104
|
|
Additions
|
4
|
8
|
2
|
14
|
|
Disposals
|
-
|
-
|
(10)
|
(10)
|
|
At 30 June 2024
(audited)
|
1,607
|
1,465
|
36
|
3,108
|
|
Additions
|
-
|
2
|
4
|
6
|
|
At 31 December 2024
(unaudited)
|
1,607
|
1,467
|
40
|
3,114
|
|
|
|
|
|
|
|
Accumulated
depreciation
|
|
|
|
|
|
At 1 July 2023
|
1,258
|
1,247
|
38
|
2,543
|
|
Charge for the year
|
99
|
52
|
-
|
151
|
|
Disposals
|
-
|
-
|
(10)
|
(10)
|
|
At 30 June 2024
(audited)
|
1,357
|
1,299
|
28
|
2,684
|
|
Charge for the period
|
48
|
23
|
1
|
72
|
|
At 31 December 2024
(unaudited)
|
1,405
|
1,322
|
29
|
2,756
|
|
|
|
|
|
|
|
Net book values
|
|
|
|
|
|
31 December 2024
(unaudited)
|
202
|
145
|
11
|
358
|
|
30 June 2024 (audited)
|
250
|
166
|
8
|
424
|
9. TRADE AND
OTHER RECEIVABLES
|
|
31
December
2024
|
31
December
2023
|
30
June
2024
|
|
|
£'000
|
£'000
|
£'000
|
|
Trade receivables
|
657
|
23
|
211
|
|
Other receivables
|
53
|
120
|
66
|
|
Prepayments
|
214
|
170
|
162
|
|
|
924
|
313
|
439
|
10. CURRENT
LIABILITIES
|
|
31
December
2024
|
31
December
2023
|
30
June
2024
|
|
|
£'000
|
£'000
|
£'000
|
|
Trade payables
|
466
|
287
|
452
|
|
Other taxation and social
security
|
53
|
63
|
56
|
|
Other payables
|
-
|
-
|
79
|
|
Accruals
|
312
|
319
|
304
|
|
Deferred income
|
273
|
213
|
136
|
|
|
1,104
|
882
|
1,027
|
