CGTC MANUFACTURING INNOVATION CENTRE 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

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Cooper Parry Group Limited

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors have prepared the financial statements on a going concern basis which they consider to be appropriate for the following reasons. Innovate UK has entered into a grant funding agreement with the Cell and Gene Therapy Catapult who pass on the grant proceeds to the CGTC Manufacturing Innovation Centre Limited. The GFA runs to July 2025-this was extended out to March 2027 after the year-end. The directors of the Cell Therapy Catapult Limited have prepared detailed profit and cash flow forecasts for the Group for the going concern period.”

Significant events

• “The Company commenced trading on 1 August 2021 and since has undertaken a substantial refit and refurbishment to be appropriately configured to develop relationships with the cell and gene therapy industries through collaborative research and manufacturing services.”
• “During 2023 the facility was inspected by the Medicines and Healthcare products Agency (MHRA) and licensed to produce pharmaceuticals.”
• “During the current year further, investments have been made into the general site capabilities and enhancements. These include replacement of the warehouse roof; installation of a Water for Injection (WIF) system, installation of a new fire detection system and other investments relating to compliance with fire regulations; enhancements to IT and building management capability; and improvements to the provision of employee welfare facilities.”
• “Due to the on-going uncertainty and sector-wide risks for investment and financing of clinical stage advanced therapies, there has been a reduced demand across the sector for larger scale manufacturing innovation assets. Consequently, the company has agreed with Innovate UK and the OLS to extend the term of the grant funding agreement to end March 2027, with an associated agreement to re-purpose the remaining grant toward operational expenditure.”
• “During the year it became apparent that the Company's levels of costs was not going to be sustainable given the current appetite for future funding from either the Government or the private sector. Therefore, the Directors scoped, structured and launched a restructuring exercise across the Company with the aim of reducing the cost base including staff to a level whereby the repurposed advance on grant of £10m could be drawn down over at least two more years out to end March 2027. This exercise concluded after the year-end.”

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

Filings

2

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

  +16.6%

  £13,647,000 → £15,912,000

• Cash

  -88.9%

  £7,039,000 → £778,000

• Net assets

  +9.9%

  £22,314,000 → £24,533,000

• Employees

  -6.8%

  103 → 96

• Operating profit

  +155.9%

  -£5,275,000 → £2,949,000

• Profit before tax

  +155.9%

  -£5,276,000 → £2,947,000

• Wages

  -3.4%

  £5,621,000 → £5,428,000

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