ISTESSO LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2027-05-22 (in 1y)
Last made up 2026-05-08
Watchouts
None on the register
Cash
£5M
-8.2% vs 2023
Net assets
-£29M
-30.4% vs 2023
Employees
15
+15.4% vs 2023
Profit before tax
-£8M
+52.1% vs 2023
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | — | £61,516 | |
| Operating profit | -£19,118,938 | -£11,580,842 | |
| Profit before tax | -£17,386,116 | -£8,334,684 | |
| Net profit | -£14,963,408 | -£7,058,455 | |
| Cash | £5,475,983 | £5,024,682 | |
| Total assets less current liabilities | — | — | |
| Net assets | -£22,055,036 | -£28,762,955 | |
| Equity | -£22,055,036 | -£28,762,955 | |
| Average employees | 13 | 15 | |
| Wages | £1,422,788 | £1,878,263 |
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 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | — | -18825.7% | |
| Net margin | — | -11474.2% | |
| Gearing (liabilities / total assets) | 324.2% | 415.6% | |
| Current ratio | 6.90x | 15.13x | |
| Interest cover | -32.18x | -3.93x |
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
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- Saffery LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Group's cash position at 31 December 2024 was £5,024,682 (2023: £5,475,983) and its net current assets were £8,494,047 (2023: £8,393,021). The £37.3m funding loans from IP Group are not currently repayable within the forthcoming 12 months. ... the directors have concluded that the going concern basis of preparation remains appropriate.”
Group structure
- ISTESSO LIMITED · parent
- PIMCO 2664 Limited 100%
- Modern Biosciences Nominees Limited 100%
- Istesso Therapeutics Limited 100%
- MBS4 Limited 100%
- MBS5 Limited 100%
- Istesso Europe Limited 100%
- Istesso 1 Limited 100%
- Istesso 2 Limited 100%
- Istesso 3 Limited 100%
Significant events
- “On 13 April 2022, the Group entered into a convertible loan agreement with one of its major shareholders to agree an unsecured loan of £10m. In April 2023, the Group raised £1.5m through the issue of new A Ordinary shares and subsequently entered into an additional convertible loan agreement with one of its major shareholders in relation to an unsecured loan of £23.5m (£13.5m of which was drawn in the year ended 31 December 2023 and £10m drawn in January 2024).”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
7 active · 2 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| PINSENT MASONS SECRETARIAL LIMITED | Corporate Secretary | 2017-09-12 | — | — |
| ALLEN, Peter Vance | Director | 2017-09-01 | Mar 1956 | British |
| OWEN, Michael, Dr | Director | 2025-06-01 | May 1951 | British |
| PATEL, Lisa, Dr | Director | 2017-05-05 | May 1973 | British |
| PETERS, David Keith, Professor Sir | Director | 2017-09-01 | Jul 1938 | British |
| WILLIAMS, Samuel Cameron, Dr | Director | 2017-05-05 | Apr 1969 | British |
| IP2IPO SERVICES LIMITED | Corporate Director | 2025-07-02 | — | — |
Show 2 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| IP2IPO SERVICES LIMITED | Corporate Secretary | 2017-05-05 | 2017-09-12 |
| IP2IPO SERVICES LIMITED | Corporate Director | 2017-05-05 | 2017-12-22 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Ip2ipo Limited | Corporate entity | Shares 25–50%, Voting 25–50% | 2018-09-18 | Active |
| Ip Group Plc | Corporate entity | Shares 25–50%, Voting 25–50% | 2017-06-30 | Ceased 2018-09-18 |
| Samuel Cameron Williams | Individual | Shares 75–100%, Voting 75–100%, Appoints directors | 2017-05-05 | Ceased 2017-06-30 |
Filing timeline
Last 20 of 62 total filings
Material constitutional events — rename, articles re-file, resolution
- 2023-08-21 RESOLUTIONS Resolution
- 2023-08-21 MA Memorandum articles
- 2023-05-27 RESOLUTIONS Resolution
- 2023-05-16 MA Memorandum articles
- 2023-05-16 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-08 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2026-02-05 | SH01 | capital | Capital allotment shares | |
| 2026-01-26 | SH01 | capital | Capital allotment shares | |
| 2025-11-17 | SH01 | capital | Capital allotment shares | |
| 2025-09-16 | AA | accounts | Accounts with accounts type group | |
| 2025-07-02 | AP02 | officers | Appoint corporate director company with name date | |
| 2025-06-13 | AP01 | officers | Appoint person director company with name date | |
| 2025-05-19 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-01-03 | AA | accounts | Accounts with accounts type group | |
| 2024-05-15 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-05-15 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2023-12-22 | AA | accounts | Accounts with accounts type group | |
| 2023-08-21 | RESOLUTIONS | resolution | Resolution | |
| 2023-08-21 | MA | incorporation | Memorandum articles | |
| 2023-05-27 | RESOLUTIONS | resolution | Resolution | |
| 2023-05-19 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-05-16 | MA | incorporation | Memorandum articles | |
| 2023-05-16 | RESOLUTIONS | resolution | Resolution | |
| 2023-05-03 | SH01 | capital | Capital allotment shares | |
| 2022-09-06 | AA | accounts | Accounts with accounts type group |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 8
- Capital events
- 3
- Officers appointed
- 2
- Officers resigned
- 0
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
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
—
Not reported
-
Cash
-8.2%
£5,475,983 £5,024,682
-
Net assets
-30.4%
-£22,055,036 -£28,762,955
-
Employees
+15.4%
13 15
-
Operating profit
+39.4%
-£19,118,938 -£11,580,842
-
Profit before tax
+52.1%
-£17,386,116 -£8,334,684
-
Wages
+32%
£1,422,788 £1,878,263
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