NORTHERN 2 VCT PLC

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

• Turnover

  —

  Not reported

• Cash

  -11.5%

  £42,999,000 → £38,062,000

• Net assets

  +7.2%

  £119,526,000 → £128,078,000

• Employees

  —

  Not reported

• Profit before tax

  +193.8%

  £2,848,000 → £8,366,000

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

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

Forvis Mazars LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors have concluded that there is a reasonable expectation that the Company will be able to continue in operation over the three year period and meet its liabilities as they fall due over that period.”

Group structure

1. NORTHERN 2 VCT PLC · parent
   1. Biological Preparations Group 22.8% · Environmental biotechnology products

Significant events

• “VCT scheme extended by a further 10 years in the 2024 UK autumn budget.”
• “Change of government in the UK with the Labour Party elected in July 2024.”
• “Share offer to raise £15 million was oversubscribed.”
• “Most notable exit was Gentronix, sold for net proceeds of £5.2 million.”
• “Other exits included Grip UK (t/a The Climbing Hangar), Intuitive Holding, Nutshell, and Ablatus Therapeutics.”
• “Six new venture capital investments completed (Semble Technology, Napo, Ski Zoom, Culture AI, Promethean Particles, Scalpel).”
• “Increases in portfolio valuations for Pure Pet Food and Project Glow TopCo.”
• “Reductions in portfolio valuations for Adludio and Newcells Biotech.”
• “Audit tender process completed, Johnston Carmichael LLP recommended for appointment as auditor from 1 April 2025.”
• “Cecilia McAnulty is retiring after the Company's AGM; David Gravells is stepping down as Chair after the AGM.”
• “After the year end, on 3 April 2025, the Company issued 25,531,778 ordinary shares for a net consideration of £14,528,000.”
• “On 4 April 2025, the Company invested £417,000 in existing portfolio company Axis Spine Technologies.”
• “On 17 April 2025, the Company invested £321,000 in existing portfolio company Broker Insights.”
• “On 24 April 2025, the Company sold part of its investment in Project Glow Topco for proceeds of £309,000.”
• “On 6 May 2025, the Company invested £668,000 in existing portfolio company Warwick Acoustics.”
• “On 7 May 2025, the Company invested £193,000 in existing portfolio company Synthesized.”
• “On 13 June 2025, the Company invested £240,000 in existing portfolio company Newcells Biotech.”

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

Filings

20

last 12 months

Capital events

14

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.