Silverfin false false 30/06/2024 01/07/2023 30/06/2024 Dr Nicola Ann Broughton 15/04/2021 John Robert Fraser Duncan 16/07/2021 Iq Capital Directors Nominees Ltd 29/09/2021 Richard Izen Kuo 06/04/2021 Dr John Harris Leamon 01/10/2021 Lee James Lindley 20/12/2023 Dr Trevor John Nicholls 01/10/2021 Joanna Smart 20/12/2023 Dr Dietrich Stephan 10/04/2024 25 March 2025 The principal activity of the Company during the financial period was research and development work relating to proprietary methods of maximising RNA sequencing efficiency for the discovery and detection of nucleic acid biomarkers. SC694432 2024-06-30 SC694432 bus:Director1 2024-06-30 SC694432 bus:Director2 2024-06-30 SC694432 bus:Director3 2024-06-30 SC694432 bus:Director4 2024-06-30 SC694432 bus:Director5 2024-06-30 SC694432 bus:Director6 2024-06-30 SC694432 bus:Director7 2024-06-30 SC694432 bus:Director8 2024-06-30 SC694432 bus:Director9 2024-06-30 SC694432 2023-06-30 SC694432 core:CurrentFinancialInstruments 2024-06-30 SC694432 core:CurrentFinancialInstruments 2023-06-30 SC694432 core:ShareCapital 2024-06-30 SC694432 core:ShareCapital 2023-06-30 SC694432 core:SharePremium 2024-06-30 SC694432 core:SharePremium 2023-06-30 SC694432 core:RetainedEarningsAccumulatedLosses 2024-06-30 SC694432 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC694432 2022-06-30 SC694432 core:OtherResidualIntangibleAssets 2023-06-30 SC694432 core:OtherResidualIntangibleAssets 2024-06-30 SC694432 core:FurnitureFittings 2023-06-30 SC694432 core:ComputerEquipment 2023-06-30 SC694432 core:FurnitureFittings 2024-06-30 SC694432 core:ComputerEquipment 2024-06-30 SC694432 bus:OrdinaryShareClass1 2024-06-30 SC694432 bus:OrdinaryShareClass2 2024-06-30 SC694432 bus:OrdinaryShareClass3 2024-06-30 SC694432 2023-07-01 2024-06-30 SC694432 bus:FilletedAccounts 2023-07-01 2024-06-30 SC694432 bus:SmallEntities 2023-07-01 2024-06-30 SC694432 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 SC694432 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC694432 bus:Director1 2023-07-01 2024-06-30 SC694432 bus:Director2 2023-07-01 2024-06-30 SC694432 bus:Director3 2023-07-01 2024-06-30 SC694432 bus:Director4 2023-07-01 2024-06-30 SC694432 bus:Director5 2023-07-01 2024-06-30 SC694432 bus:Director6 2023-07-01 2024-06-30 SC694432 bus:Director7 2023-07-01 2024-06-30 SC694432 bus:Director8 2023-07-01 2024-06-30 SC694432 bus:Director9 2023-07-01 2024-06-30 SC694432 core:OtherResidualIntangibleAssets core:TopRangeValue 2023-07-01 2024-06-30 SC694432 core:FurnitureFittings core:TopRangeValue 2023-07-01 2024-06-30 SC694432 core:ComputerEquipment core:TopRangeValue 2023-07-01 2024-06-30 SC694432 2022-07-01 2023-06-30 SC694432 core:OtherResidualIntangibleAssets 2023-07-01 2024-06-30 SC694432 core:FurnitureFittings 2023-07-01 2024-06-30 SC694432 core:ComputerEquipment 2023-07-01 2024-06-30 SC694432 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 SC694432 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 SC694432 bus:OrdinaryShareClass2 2023-07-01 2024-06-30 SC694432 bus:OrdinaryShareClass2 2022-07-01 2023-06-30 SC694432 bus:OrdinaryShareClass3 2023-07-01 2024-06-30 SC694432 bus:OrdinaryShareClass3 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC694432 (Scotland)

WOBBLE GENOMICS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH THE REGISTRAR

WOBBLE GENOMICS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024

Contents

WOBBLE GENOMICS LIMITED

BALANCE SHEET

AS AT 30 JUNE 2024
WOBBLE GENOMICS LIMITED

BALANCE SHEET (continued)

AS AT 30 JUNE 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 4 47,500 50,000
Tangible assets 5 115,335 61,576
162,835 111,576
Current assets
Debtors 6 326,538 225,267
Cash at bank and in hand 6,752,597 552,122
7,079,135 777,389
Creditors: amounts falling due within one year 7 ( 144,136) ( 93,601)
Net current assets 6,934,999 683,788
Total assets less current liabilities 7,097,834 795,364
Provision for liabilities 8, 9 ( 26,831) 0
Net assets 7,071,003 795,364
Capital and reserves
Called-up share capital 10 3 2
Share premium account 10,282,072 2,055,190
Profit and loss account ( 3,211,072 ) ( 1,259,828 )
Total shareholders' funds 7,071,003 795,364

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Wobble Genomics Limited (registered number: SC694432) were approved and authorised for issue by the Board of Directors on 25 March 2025. They were signed on its behalf by:

John Robert Fraser Duncan
Director
WOBBLE GENOMICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
WOBBLE GENOMICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Wobble Genomics Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Suite 2, Ground Floor Orchard Brae House, 30 Queensferry Road, Edinburgh, EH4 2HS, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Share-based payment

Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period, based on the Company’s estimate of shares that will eventually vest and adjusted for the effect of non-market-based vesting conditions.

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 20 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 5 years straight line
Computer equipment 2 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Framework Transition

The company has transitioned from FRS105 to FRS102 (1A) to in the financial year ended 30 June 2024 . No comparatives in the financial statements have been re-stated as a result of this change in reporting standard.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 15 13

3. Share-based payments

Equity-settled share-based payment schemes

The Company has a share option scheme in the year.

Options are exercisable at a price equal to the estimated fair value of the Company’s shares on the date of grant. The vesting period is three years. If the options remain unexercised after a period of ten years from the date of grant the options expire. Options are forfeited if the employee leaves the Company before the options vest.

Details of the share options outstanding during the financial year are as follows:

2024 2023
Weighted Average Weighted Average
Number of share options Average exercise price (£) Number of share options Average exercise price (£)
Outstanding at beginning of period 0 0 0 0
Granted during the period 450 0.00001 0 0
Outstanding at the end of the period 450 0.00001 0 0
Exercisable at the end of the period 0 0 0 0

The fair value of the share options at the grant date was calculated using the Black Scholes model, which is considered to be the most appropriate generally accepted valuation method of measuring fair value.

4. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 July 2023 50,000 50,000
At 30 June 2024 50,000 50,000
Accumulated amortisation
At 01 July 2023 0 0
Charge for the financial year 2,500 2,500
At 30 June 2024 2,500 2,500
Net book value
At 30 June 2024 47,500 47,500
At 30 June 2023 50,000 50,000

5. Tangible assets

Fixtures and fittings Computer equipment Total
£ £ £
Cost
At 01 July 2023 78,879 18,719 97,598
Additions 66,624 18,783 85,407
At 30 June 2024 145,503 37,502 183,005
Accumulated depreciation
At 01 July 2023 24,662 11,360 36,022
Charge for the financial year 23,746 7,902 31,648
At 30 June 2024 48,408 19,262 67,670
Net book value
At 30 June 2024 97,095 18,240 115,335
At 30 June 2023 54,217 7,359 61,576

6. Debtors

2024 2023
£ £
Trade debtors 10,033 194
Corporation tax 159,099 182,850
Other debtors 157,406 42,223
326,538 225,267

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 89,340 32,037
Other taxation and social security 32,907 20,164
Other creditors 21,889 41,400
144,136 93,601

8. Provision for liabilities

2024 2023
£ £
Deferred tax 26,831 0

9. Deferred tax

2024 2023
£ £
At the beginning of financial year 0 0
Charged to the Profit and Loss Account ( 26,831) 0
At the end of financial year ( 26,831) 0

10. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
142,395 A1 ordinary shares of £ 0.00001 each (2023: nil shares) 1.42 0
5,233 A2 ordinary shares of £ 0.00001 each (2023: nil shares) 0.05 0
217,293 Ordinary shares of £ 0.00001 each (2023: 215,293 shares of £ 0.00001 each) 2.17 2.16
3.64 2.16



On 29th June 2023, 2000 Ordinary shares with £0.00001 nominal value were issued.
On 22nd December 2023, 5,233 Ordinary A2 Shares with £0.00001 nominal value were issued.
On 23rd December 2023, 132,113 Ordinary A1 Shares with £0.00001 nominal value were issued, with a further 9,898 and 384 Ordinary A1 shares being issued on the 28th December 2023 and 16th January 2024 respectively.