LIGHTCAST DISCOVERY LTD

• ⚠

  Material uncertainty over going concern

  Post the Company's Series B fund raising, the directors believe that the current financial resources are sufficient to fund operations for at least 12 months from the approval of the financial statements. The Directors recognise that as the budgeted scenarios are reliant upon significant sales growth as the Group enters its commercial phase, these give rise to a material uncertainty which may cast significant doubt on its ability to continue as a going concern. However, based upon historic trends of investor support and actions planned by management, they believe it remains appropriate to prepare the financial statements on the going concern basis.

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

  -5.2%

  £417,627 → £396,071

• Cash

  +47%

  £11,242,729 → £16,526,120

• Net assets

  +35.7%

  £15,014,425 → £20,375,327

• Employees

  +25.8%

  93 → 117

  highest in 5 filed years

• Operating profit

  -5.6%

  -£20,567,526 → -£21,717,190

• Profit before tax

  -4.5%

  -£20,191,496 → -£21,093,911

• Wages

  +33%

  £6,886,704 → £9,161,226

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. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

James Cowper Kreston Audit

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Post the Company's Series B fund raising, the directors believe that the current financial resources are sufficient to fund operations for at least 12 months from the approval of the financial statements. The Directors recognise that as the budgeted scenarios are reliant upon significant sales growth as the Group enters its commercial phase, these give rise to a material uncertainty which may cast significant doubt on its ability to continue as a going concern. However, based upon historic trends of investor support and actions planned by management, they believe it remains appropriate to prepare the financial statements on the going concern basis.”

Group structure

1. LIGHTCAST DISCOVERY LTD · parent
   1. Lightcast Discovery Inc 100% · USA

Significant events

• “Through 2024, the Company continues to make progress in development, operations and the first steps towards commercialization for instrument, consumable, and services revenue streams.”
• “In product development, a key focus in the period was to bring up the first batch of pre-production prototype instruments through to CE marking testing, allowing these instruments to be delivered to customers.”
• “We did experience some development delays in 2024, particularly with the reliability of the microfluidic cartridge.”
• “The Company, having completed its Series B funding in July 2024, continues to invest in the expansion of the business, with investment in both product and services innovation and in its commercial infrastructure.”
• “On 29 January 2024, the Group allotted 1,749,530 Series B Preferred shares of £0.00001 for a total consideration before expenses of £14,163,093.”
• “On 2 April 2024, the Group allotted 530 Ordinary shares of £0.00001 for a total consideration before expenses of £901.”
• “On 26 July 2024, the Group allotted 959,943 series B Preferred shares of £0.00001 for a total consideration before expenses of £7,856,538.”
• “On 30 September 2024, the Group allotted 2,587 Ordinary shares of £0.00001 for a total consideration of £3,863.”
• “On 15 November 2024, the Group allotted 1,690 Ordinary shares of £0.00001 for a total consideration before expenses of £2,756.”
• “On 20 December 2024, the Group allotted 2,110 Ordinary shares of £0.00001 for a total consideration before expenses of £3,105.”

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

Filings

17

last 12 months

Capital events

11

last 24 months

Officers appointed

1

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.