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Registered number: 11870377









ALLOY THERAPEUTICS UK LIMITED









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ALLOY THERAPEUTICS UK LIMITED
 
 
COMPANY INFORMATION


Director
Errik Anderson 




Company secretary
Logan Snyder



Registered number
11870377



Registered office
Unit 3
McClintock Building

Granta Park

Great Abington

Cambridge

CB21 6GP




Independent auditors
Lakin Rose Limited
Chartered Accountants

Cambridge House

Camboro Business Park

Girton

Cambridge

CB3 0QH





 
ALLOY THERAPEUTICS UK LIMITED
 

CONTENTS



Page
Balance sheet
 
1
Statement of changes in equity
 
2
Notes to the financial statements
 
3 - 8


 
ALLOY THERAPEUTICS UK LIMITED
REGISTERED NUMBER: 11870377

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
                                                                           Note
£
£

Fixed assets
  

Tangible assets
 4 
298,733
461,477

  
298,733
461,477

Current assets
  

Debtors: amounts falling due within one year
 5 
86,411
124,524

Cash at bank and in hand
 6 
743,720
215,422

  
830,131
339,946

Creditors: amounts falling due within one year
 7 
(949,266)
(816,852)

Net current liabilities
  
 
 
(119,135)
 
 
(476,906)

Total assets less current liabilities
  
179,598
(15,429)

  

Net assets/(liabilities)
  
179,598
(15,429)


Capital and reserves
  

Called up share capital 
  
1
1

Other reserves
  
8,692
-

Profit and loss account
  
170,905
(15,430)

  
179,598
(15,429)


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 February 2025.




Errik Anderson
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 1

 
ALLOY THERAPEUTICS UK LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£


At 1 January 2022
1
-
45,419
45,420


Comprehensive income for the year

Loss for the year
-
-
(60,849)
(60,849)



At 1 January 2023
1
-
(15,430)
(15,429)


Comprehensive income for the year

Profit for the year
-
-
186,335
186,335

Share based payments
-
8,692
-
8,692


At 31 December 2023
1
8,692
170,905
179,598


The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
ALLOY THERAPEUTICS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The company is a private company, limited by shares and is incorporated in England and Wales. The
address of the registered office is Unit 3, McClintock Building, Granta Park, Great Abington, Cambridge,
CB21 6GP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
ALLOY THERAPEUTICS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.
Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

  
2.7

Research and development costs

Research and development expenditure is written off in the year in which the expenditure is incurred.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
ALLOY THERAPEUTICS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
over the life of the lease
Plant and machinery
-
over 5 years
Fixtures and fittings
-
over 7 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.


3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
7
7

Page 5

 
ALLOY THERAPEUTICS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 January 2023
73,934
975,623
26,548
1,076,105


Additions
-
42,557
-
42,557



At 31 December 2023

73,934
1,018,180
26,548
1,118,662



Depreciation


At 1 January 2023
73,934
528,195
12,499
614,628


Charge for the year on owned assets
-
201,508
3,793
205,301



At 31 December 2023

73,934
729,703
16,292
819,929



Net book value



At 31 December 2023
-
288,477
10,256
298,733



At 31 December 2022
-
447,428
14,049
461,477

Page 6

 
ALLOY THERAPEUTICS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Other debtors
45,282
83,215

Prepayments and accrued income
41,129
41,309

86,411
124,524



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
743,720
215,422

743,720
215,422



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
136,146
185,584

Amounts owed to group undertakings
703,432
611,352

Other creditors
5,763
1,700

Accruals and deferred income
103,925
18,216

949,266
816,852



8.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the Scheme are held
separately from those of the company in an independently administered fund. The pension cost
represents contributions payable by the company to the fund and amounted to £42,641 (2022 - £38,753).
There were contributions of £4,390 (2022 - £nil) payable to the fund at the balance sheet date.


9.


Controlling party

The company's ultimate parent company and controlling party is Alloy Therapeutics Inc, 275 Second Ave, Suite 200, Waltham, MA 02451.

Page 7

 
ALLOY THERAPEUTICS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 7 February 2025 by Natalie Peacock (senior statutory auditor) on behalf of Lakin Rose Limited.

 
Page 8