UCL BUSINESS LTD
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Next accounts due
2027-04-30 (in 11mo)
Last filed for 2025-07-31
Confirmation statement due
2027-01-18 (in 8mo)
Last made up 2026-01-04
Watchouts
None on the register
Cash
£48M
-9.2% vs 2024
Net assets
£48M
-5.4% vs 2024
Employees
73
+10.6% vs 2024
Profit before tax
£3M
-85.5% vs 2024
Name history
Renamed 4 times since incorporation
- UCL BUSINESS LTD 2019-08-28 → present
- UCL BUSINESS PLC 2006-08-01 → 2019-08-28
- UCL BIOMEDICA PLC. 2003-02-04 → 2006-08-01
- FREEMEDIC PLC 1993-04-26 → 2003-02-04
- MHBES PLC 1993-01-04 → 1993-04-26
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · latest reflected 2025-07-31
| Metric | Trend | 2024-07-31 | 2025-07-31 |
|---|---|---|---|
| Turnover | £25,016,000 | £28,009,000 | |
| Operating profit | -£1,985,000 | -£3,335,000 | |
| Profit before tax | £21,708,000 | £3,142,000 | |
| Net profit | £21,708,000 | £3,142,000 | |
| Cash | £53,214,000 | £48,328,000 | |
| Total assets less current liabilities | £51,543,000 | £48,658,000 | |
| Net assets | £50,721,000 | £47,963,000 | |
| Equity | £50,721,000 | £47,963,000 | |
| Average employees | 66 | 73 | |
| Wages | £4,731,000 | £5,379,000 |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-07-31 | 2025-07-31 |
|---|---|---|---|
| Operating margin | -7.9% | -11.9% | |
| Net margin | 86.8% | 11.2% | |
| Return on capital employed | -3.9% | -6.9% | |
| Gearing (liabilities / total assets) | 31.4% | 37.7% | |
| Current ratio | 2.64x | 2.18x | |
| Interest cover | -79.40x | — |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Ernst and Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors have reviewed the future operational liquidity requirements of the company, the risks and challenges of the sector and rising inflation and considered its future cash flows and forecasts.. More information is provided on this in the Basis of Preparation under Accounting Policies (note 1). Based on their assessment the Directors have a reasonable expectation that the company has sufficient cash and facilities to meet its working capital requirements and therefore adequate resources to continue in operational existence for the next 12 months from the date of signing the financial statements. As a result, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.”
Group structure
- UCL BUSINESS LTD · parent
- Amalyst Ltd 45.5%
- Avatar Therapy 49%
- Bloomsbury Genetic Therapies Ltd 50.75%
- E-lucid Solutions Ltd 49.95%
- Eurotempest Ltd 45%
- Glialign Ltd 34.84%
- Helicon Health Ltd 23.1%
- LRG1 38.25%
- Mapping for Change 20%
- Movement Metrics CIC 25%
- Trimtots CIC 26.67%
- UCLB Investments Ltd 100%
Significant events
- “UCLB spinout Autolus receiving FDA and EMA approval for Aucatzyl, a CAR-T therapy for the treatment of adults with acute lymphoblastic leukaemia and achieving the first commercial sale of Aucatzyl.”
- “A US$101 Million series A investment into Trace Therapeutics, led by Third Rock Ventures with Google Ventures and Atlas Ventures also participating. The company is based on the work of Professor Pietro Fratta (UCL loN) using an oligonucleotide-based approach to exon skipping for the treatment of Amyotrophic Lateral Sclerosis.”
- “Synthesia closed its Series D In December 2024 with an investment round of $180M led by New Enterprise Associates (NEA) at post-money valuation of $2.1B.”
- “The portfolio of assets managed by UCLB has grown with a further 127 novel opportunities being brought into the pipeline.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
9 active · 38 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BENNETT, Hamish | Secretary | 2025-07-03 | — | — |
| ARMSTRONG, Lucy Victoria Winwood | Director | 2024-09-18 | Jul 1968 | British |
| CAREY, Nessa, Dr | Director | 2018-02-01 | Oct 1963 | British |
| GLOVER, Stephen John | Director | 2025-07-03 | Sep 1979 | British |
| HOLT, Tania Zulu | Director | 2025-04-29 | Aug 1984 | Danish,Mozambican |
| KANJI, Hussein | Director | 2022-12-06 | Oct 1976 | American |
| LANE, Anne, Doctor | Director | 2003-04-03 | Apr 1964 | British |
| REES, Geraint Ellis, Professor | Director | 2015-01-20 | Nov 1967 | British |
| YUILLE, Jessica Elizabeth | Director | 2025-07-03 | Mar 1978 | British |
Show 38 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BRUCE, Katherine Anna | Secretary | 2024-07-11 | 2025-07-03 |
| CRAWFORD, Lawson John | Secretary | 2021-06-30 | 2024-07-04 |
| FLEMMING, Mark John | Secretary | 2001-10-17 | 2006-05-25 |
| FOWLER, Alison Francis | Secretary | 1993-01-04 | 1994-01-31 |
| ROTHERA, Hilary | Secretary | 2006-05-25 | 2021-05-31 |
| ROTHERA, Hilary | Secretary | 1994-01-31 | 2001-10-17 |
| LONDON LAW SECRETARIAL LIMITED | Corporate Nominee Secretary | 1993-01-04 | 1993-01-04 |
| ATHERTON, Paul David, Dr | Director | 2017-02-21 | 2022-03-10 |
| BIRCH, David Clifford | Director | 1993-01-04 | 1994-01-31 |
| BLATCH, Bryan Anthony | Director | 1994-01-31 | 1998-07-31 |
| CADDICK, Stephen, Professor | Director | 2021-06-30 | 2022-06-21 |
| CADDICK, Stephen, Professor | Director | 2010-05-01 | 2015-05-18 |
| CAULCOTT, Celia Ann, Dr | Director | 2015-09-23 | 2021-02-28 |
| DELPY, David Thomas, Professor | Director | 2003-01-23 | 2006-05-25 |
| DUTTON, David Martin Maxfield | Director | 1994-01-31 | 2016-12-31 |
| FINE, Leon Gerald, Professor | Director | 2003-01-23 | 2006-05-25 |
| FINKELSTEIN, Anthony Charles Wiener, Professor | Director | 2012-05-22 | 2015-12-01 |
| FOSTER, John William | Director | 2003-01-23 | 2006-05-25 |
| FRACKOWIAK, Richard Stanislavs Joseh, Professor | Director | 2003-01-23 | 2006-05-25 |
| GOODLAD, Magnus James | Director | 2016-06-09 | 2020-03-31 |
| GORASIA, Charu | Director | 2021-12-08 | 2025-07-03 |
| HALTON, John | Director | 1993-02-03 | 1993-08-12 |
| HARDING, Philip | Director | 2018-08-01 | 2021-04-30 |
| HODGSON, Humphrey Julian Francis, Professor | Director | 2001-10-17 | 2006-05-25 |
| HUNTER, David Edgar | Director | 2014-05-22 | 2024-09-30 |
| LEVINSKY, Roland Jacob | Director | 2000-06-01 | 2002-06-28 |
| MCALLISTER, Ian Gerald, Sir | Director | 2007-04-02 | 2016-03-31 |
| PENNIFOLD, Matthew John | Director | 1993-08-12 | 1994-01-31 |
| REEVE, Patrick Harold | Director | 2007-04-02 | 2016-03-31 |
| SAMUELS, Gillian Mary Ryder, Dr | Director | 2007-07-10 | 2017-09-30 |
| SKINNER, Jeffrey David | Director | 1998-09-01 | 2006-05-25 |
| SPYER, Kenneth Michael, Professor | Director | 1998-09-01 | 2010-04-30 |
| TARHAN, Cengiz Altan | Director | 1996-11-15 | 2018-10-31 |
| TOOKE, John Edward, Professor | Director | 2010-09-10 | 2014-05-22 |
| TURNER KC, Justin John, Dr | Director | 2022-09-27 | 2024-07-14 |
| WATTS, Kathryn Anne | Director | 1993-01-04 | 1993-02-03 |
| ZUCKERMAN, Arie Jeremy | Director | 1996-11-15 | 2000-05-31 |
| LONDON LAW SERVICES LIMITED | Corporate Nominee Director | 1993-01-04 | 1993-01-04 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| University College London | Corporate entity | Shares 75–100% | 2016-04-06 | Active |
Filing timeline
Last 20 of 193 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-01-22 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-01-22 | RP01AP01 | officers | Replacement filing of director appointment with name | |
| 2025-12-08 | AA | accounts | Accounts with accounts type full | |
| 2025-07-16 | AP01 | officers | Appoint person director company with name date | |
| 2025-07-16 | AP01 | officers | Appoint person director company with name date | |
| 2025-07-15 | TM01 | officers | Termination director company with name termination date | |
| 2025-07-14 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-07-14 | AP03 | officers | Appoint person secretary company with name date | |
| 2025-05-23 | AP01 | officers | Appoint person director company with name date | |
| 2025-01-14 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-12-19 | AA | accounts | Accounts with accounts type full | |
| 2024-10-18 | TM01 | officers | Termination director company with name termination date | |
| 2024-09-27 | AP01 | officers | Appoint person director company with name date | |
| 2024-08-24 | TM01 | officers | Termination director company with name termination date | |
| 2024-07-21 | AP03 | officers | Appoint person secretary company with name date | |
| 2024-07-21 | TM02 | officers | Termination secretary company with name termination date | |
| 2024-02-23 | CH03 | officers | Change person secretary company with change date | |
| 2024-01-18 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-01-03 | AA | accounts | Accounts with accounts type full | |
| 2023-04-12 | AA | accounts | Accounts with accounts type full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 9
- Capital events
- 0
- Officers appointed
- 3
- Officers resigned
- 2
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.
Year-on-year
FY2024 → FY2025 · period ending 2025-07-31 vs 2024-07-31
-
Turnover
+12%
£25,016,000 £28,009,000
-
Cash
-9.2%
£53,214,000 £48,328,000
-
Net assets
-5.4%
£50,721,000 £47,963,000
-
Employees
+10.6%
66 73
-
Operating profit
-68%
-£1,985,000 -£3,335,000
-
Profit before tax
-85.5%
£21,708,000 £3,142,000
-
Wages
+13.7%
£4,731,000 £5,379,000
Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers