Aureum Diagnostics Limited

Aureum Diagnostics Ltd, based in London, UK, is a small holding company with an active status, founded four years ago. The company employs nine people and holds £894,490 in assets. It’s managed by six directors and owned by two individuals, and operates from a real address with only two other companies registered there. Regular imports of miscellaneous chemical products have been recorded over the past eight months.

The company’s core focus, as highlighted on its website, is the development of electrochemical biosensing platforms for point-of-care medical diagnostics and biosafety testing. It aims to revolutionize the diagnostic landscape with its “AureumDX” technology, offering a measurement platform comprising a handheld instrument and single-use test strips. The website details a vision to transform global access to high-performance diagnostics and a mission to commercialize sensitive, low-cost biosensor detection platforms. The team includes seasoned experts like Dr. Mark Hegarty (Executive Chairman) and Professor Damion Corrigan (Founder and Chief Scientific Officer), who bring extensive experience in healthcare innovation.

Financially, Aureum Diagnostics Ltd presents a mixed picture. Cash bank on hand has decreased significantly by 56%, dropping to £700,000, while current assets have also fallen by 48% to £890,000. Creditors have risen sharply by 180%, reaching £160,000, and trade debtors have doubled to £190,000. Equity has suffered a substantial decline, with retained earnings and accumulated losses decreasing by 51% to -£2.7 million. Despite these challenges, the company meets the criteria for a small business, with turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees. The lack of an auditor mentioned suggests it’s exempt as a small company.

It's worth noting that the company’s financial statements are unaudited, and the sharp decrease in cash reserves and equity raises questions about its long-term sustainability. The rise in creditors, however, may indicate improved debt management.

Registered in England/Wales under the registration number 13201459, with a registered address at W1W 7LT, England, London, First Floor 85, Great Portland Street.

WARNING:The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.