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REGISTERED NUMBER: 10860446 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

DIOSYNVAX LTD.

DIOSYNVAX LTD. (REGISTERED NUMBER: 10860446)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DIOSYNVAX LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: Professor J L Heeney
Professor R Wagner
Dr R Kinsley
Dr T Parlett
Professor R J Shaw





SECRETARY: Dr R Kinsley





REGISTERED OFFICE: Janelle House
Hartham Lane
Hertford
Hertfordshire
SG14 1QN





REGISTERED NUMBER: 10860446 (England and Wales)





ACCOUNTANTS: Gary J Cansick & Co
Chartered Accountants
Janelle House
6 Hartham Lane
Hertford
Hertfordshire
SG14 1QN

DIOSYNVAX LTD. (REGISTERED NUMBER: 10860446)

BALANCE SHEET
31 DECEMBER 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 182,613 170,721
Tangible assets 5 83,994 85,227
266,607 255,948

CURRENT ASSETS
Debtors 6 306,847 155,584
Cash at bank 6,179,760 403,887
6,486,607 559,471
CREDITORS
Amounts falling due within one year 7 2,432,218 106,577
NET CURRENT ASSETS 4,054,389 452,894
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,320,996

708,842

CAPITAL AND RESERVES
Called up share capital 8 358 288
Share premium 5,671,025 1,295,033
Retained earnings (1,350,387 ) (586,479 )
SHAREHOLDERS' FUNDS 4,320,996 708,842

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 September 2023 and were signed on its behalf by:



Dr R Kinsley - Director


DIOSYNVAX LTD. (REGISTERED NUMBER: 10860446)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

Diosynvax Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents, Trademarks & Licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 15% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

DIOSYNVAX LTD. (REGISTERED NUMBER: 10860446)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2021 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Patents,
Trademarks
& Licences
£   
COST
At 1 January 2022 202,986
Additions 15,913
At 31 December 2022 218,899
AMORTISATION
At 1 January 2022 32,265
Amortisation for year 4,021
At 31 December 2022 36,286
NET BOOK VALUE
At 31 December 2022 182,613
At 31 December 2021 170,721

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
Equipment fittings equipment Totals
£    £    £    £   
COST
At 1 January 2022 112,020 136 9,093 121,249
Additions 5,516 931 7,832 14,279
At 31 December 2022 117,536 1,067 16,925 135,528
DEPRECIATION
At 1 January 2022 31,850 15 4,157 36,022
Charge for year 12,321 88 3,103 15,512
At 31 December 2022 44,171 103 7,260 51,534
NET BOOK VALUE
At 31 December 2022 73,365 964 9,665 83,994
At 31 December 2021 80,170 121 4,936 85,227

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors - 83,935
Other debtors 306,847 71,649
306,847 155,584

DIOSYNVAX LTD. (REGISTERED NUMBER: 10860446)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors 606,992 101,319
Other creditors 1,825,226 5,258
2,432,218 106,577

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: £    £   
3,582,602 Ordinary shares £0.0001 358 288

703,702 Ordinary shares shares of £0.0001 each were allotted as fully paid at a premium of 6.2524 per share during the year.