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REGISTERED NUMBER: 10860446 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

DIOSYNVAX LTD.

DIOSYNVAX LTD. (REGISTERED NUMBER: 10860446)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DIOSYNVAX LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







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



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



BANKERS: Lloyds Bank

DIOSYNVAX LTD. (REGISTERED NUMBER: 10860446)

BALANCE SHEET
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 356,854 378,483
Tangible assets 5 73,285 82,300
430,139 460,783

CURRENT ASSETS
Debtors 6 45,541 786,075
Cash at bank 2,143,051 2,867,828
2,188,592 3,653,903
CREDITORS
Amounts falling due within one year 7 538,939 680,054
NET CURRENT ASSETS 1,649,653 2,973,849
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,079,792

3,434,632

CAPITAL AND RESERVES
Called up share capital 8 358 358
Share premium 6,940,525 5,671,025
Retained earnings (4,861,091 ) (2,236,751 )
SHAREHOLDERS' FUNDS 2,079,792 3,434,632

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 February 2025 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 2024

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 twenty 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
Fixtures and fittings - 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 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Patents,
Trademarks
& Licences
£   
COST
At 1 January 2024
and 31 December 2024 432,461
AMORTISATION
At 1 January 2024 53,978
Amortisation for year 21,629
At 31 December 2024 75,607
NET BOOK VALUE
At 31 December 2024 356,854
At 31 December 2023 378,483

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
Equipment fittings equipment Totals
£    £    £    £   
COST
At 1 January 2024 127,136 1,067 23,226 151,429
Additions 4,090 - 1,000 5,090
At 31 December 2024 131,226 1,067 24,226 156,519
DEPRECIATION
At 1 January 2024 55,522 247 13,360 69,129
Charge for year 9,674 123 4,308 14,105
At 31 December 2024 65,196 370 17,668 83,234
NET BOOK VALUE
At 31 December 2024 66,030 697 6,558 73,285
At 31 December 2023 71,614 820 9,866 82,300

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors - 199,813
Other debtors 45,541 586,262
45,541 786,075

DIOSYNVAX LTD. (REGISTERED NUMBER: 10860446)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 15,125 666,756
Taxation and social security 18,872 -
Other creditors 504,942 13,298
538,939 680,054

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
3,582,602 Ordinary shares £0.0001 358 358