IP2IPO LIMITED

1. IP2IPO LIMITED 2001-07-31 → present
2. GARDENGOLD LIMITED 2000-09-18 → 2001-07-31

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

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.

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Notwithstanding net current liabilities of £658,573k (Current assets of £244,676k less current liabilities of £903,249k) as at 31 December 2024, the financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the following reasons. The directors have prepared cash flow forecasts for a period of 12 months from the date of approval of these financial statements which indicate that, taking account of reasonably possible downsides, the company will have sufficient funds to meet its liabilities as they fall due for that period. Those forecasts are dependent on the company's ultimate parent company, IP Group plc not seeking repayment of the amounts currently due to the group, which at 31 December 2024 amounted to £602,506k. IP Group plc has indicated that it does not intend to seek repayment of these amounts for the period covered by the forecasts. As with any company placing reliance on other group entities for financial support, the directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so. Consequently, the directors are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.”

Group structure

1. IP2IPO LIMITED · parent
   1. Asterion Limited 66.8% · GB
   2. C-Capture Limited 27.6% · GB
   3. Emdot Limited 26.3% · GB
   4. Istesso Limited 24.5% · GB
   5. Magnomatics Limited 29.5% · GB
   6. Ph Therapeutics Limited 60% · GB
   7. Surrey Nanosystems Limited 21.1% · GB

Significant events

• “The Company was notified of the outcome of Istesso's Phase 2b trial for Leramistat in February 2025, reflecting information which Istesso Limited had received prior to 31 December 2024. Since the year end, the value of the investment in the quoted and private equity portfolio has seen an increase in the portfolio value at 21 July 2025 of £42m.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +0.4%

  £1,666,000 → £1,672,000

• Cash

  +20.6%

  £59,564,000 → £71,853,000

• Net assets

  -73.5%

  £312,579,000 → £82,877,000

• Employees

  -11.3%

  62 → 55

• Operating profit

  -90.2%

  -£125,031,000 → -£237,822,000

• Profit before tax

  -98.2%

  -£116,459,000 → -£230,863,000

• Wages

  -7.9%

  £9,672,000 → £8,911,000

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