PHOREMOST LIMITED

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

IFRS

Reporting scope

Standalone (parent only)

Auditor

Ernst and Young

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“In August 2024, the Company raised £9.15 million in an extension to the March 2021 Series B funding round. The tranche payments were all received in 2024. The Company remains debt free. In June 2025, the company initiated a headcount reduction from 40 FTE to 22 FTE and focussed activity on a smaller number of very promising initiatives. The Directors have prepared forecasts covering the period from the date of signing these financial statements to 31 October 2026. Based on these forecasts, the Company expects to continue making losses as it invests further in research and development activities, however it is supported by the Company's existing available liquidity. Sensitivity analysis has been performed to reflect possible downside scenarios, including the impact of the current macro environment and delays in the timing of research and development activity. In each of these scenarios, the Company continues to have available liquidity. In a severe downside scenario, the Company also has further mitigating actions available which include deferring non-committed expenditure and reorganising staffing, which would further extend the available liquidity. Based on the above, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the period to 31 October 2026. The Directors therefore conclude that it is appropriate to prepare these financial statements on a going concern basis.”

Significant events

• “In August 2024, the company raised £9.15 million in a Series B extension to the previously raised £33 million Series B funding round in March 2021. This financing follows a £11 million Series A round in May 2018 and a £2 million Seed B round that was completed in February 2017.”
• “In June 2025, the company initiated a headcount reduction from 40 FTE to 22 FTE and focussed activity on a smaller number of very promising initiatives.”

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

Filings

6

last 12 months

Capital events

6

last 24 months

Officers appointed

0

last 12 months

Officers resigned

1

last 12 months

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

• Turnover

  +49.6%

  £1,047,683 → £1,567,820

• Cash

  +17.8%

  £8,833,348 → £10,406,050

• Net assets

  +17.8%

  £9,962,892 → £11,736,843

• Employees

  -6.3%

  48 → 45

• Operating profit

  +18.3%

  -£11,864,233 → -£9,689,548

• Profit before tax

  +18.5%

  -£11,593,922 → -£9,448,918

• Wages

  -1.6%

  £3,536,043 → £3,480,909

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