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Registered number: 13970715










My-T Bio Limited










Financial statements

Information for filing with the registrar

For the Year Ended 31 March 2025

 
My-T Bio Limited
Registered number: 13970715

Balance Sheet
As at 31 March 2025

2025
2024
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
285,937
1,577,579

Bank and cash balances
  
63,070
367,569

  
349,007
1,945,148

Creditors: amounts falling due within one year
 5 
(69,093)
(611,278)

Net current assets
  
 
 
279,914
 
 
1,333,870

Total assets less current liabilities
  
279,914
1,333,870

  

Net assets
  
279,914
1,333,870


Capital and reserves
  

Called up share capital 
 6 
268
257

Share premium account
 7 
9,099,840
8,399,839

Profit and loss account
 7 
(8,820,194)
(7,066,226)

  
279,914
1,333,870


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 by: 




C Springer
Director

Date: 19 June 2025

The notes on pages 4 to 8 form part of these financial statements.

Page 1

 
My-T Bio Limited
 

Statement of Changes in Equity
For the Year Ended 31 March 2025


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 April 2024
258
8,399,839
(7,066,226)
1,333,871


Comprehensive income for the year

Loss for the year
-
-
(1,753,968)
(1,753,968)
Total comprehensive income for the year
-
-
(1,753,968)
(1,753,968)


Contributions by and distributions to owners

Shares issued during the year
11
700,001
-
700,012


Total transactions with owners
11
700,001
-
700,012


At 31 March 2025
269
9,099,840
(8,820,194)
279,915


The notes on pages 4 to 8 form part of these financial statements.

Page 2

 
My-T Bio Limited
 

Statement of Changes in Equity
For the Year Ended 31 March 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 April 2023
231
5,499,866
(1,989,943)
3,510,154


Comprehensive income for the year

Loss for the year
-
-
(5,076,283)
(5,076,283)
Total comprehensive income for the year
-
-
(5,076,283)
(5,076,283)


Contributions by and distributions to owners

Shares issued during the year
27
2,899,973
-
2,900,000


Total transactions with owners
27
2,899,973
-
2,900,000


At 31 March 2024
258
8,399,839
(7,066,226)
1,333,871


The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
My-T Bio Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2025

1.


General information

My-T Bio Limited (“the company”) is a private company limited by shares and is incorporated in England with the registration number 13970715.  The address of the registered office is 2nd Floor, Shoreditch High Street, London, E1 6RA.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The financial statements are rounded to the nearest pound.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company is engaged in research and development activities and is reliant upon funding from it's investors to meet its operational and working capital needs. The company's forecasts and projections, taking into account of expected expenditure and future investment, show that the company should be able to continue these activities within the level of its available facilities for the forseeable future. 
Consequently, the going concern basis has been adopted in preparing these financial statements. 

 
2.3

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.4

Research and development

Research and development expenditure is recognised as an expense in the period it is incurred.

Page 4

 
My-T Bio Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2025

2.Accounting policies (continued)

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

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.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank
Page 5

 
My-T Bio Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2025

2.Accounting policies (continued)


2.10
Creditors (continued)

loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2024 - 5).

Page 6

 
My-T Bio Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2025

4.


Debtors

2025
2024
£
£


Other debtors
283,337
1,090,828

Prepayments and accrued income
2,600
486,751

285,937
1,577,579



5.


Creditors: Amounts falling due within one year

2025
2024
£
£

Trade creditors
2,220
585,753

Other taxation and social security
-
8,175

Other creditors
258
-

Accruals and deferred income
66,615
17,350

69,093
611,278



6.


Share capital

2025
2024
£
£
Allotted, called up and fully paid



947,432 (2024 - 1,000,000) Ordinary shares of £0.0001- each
95
100
1,307,686 (2024 - 1,307,686) Series A1 shares of £0.0001- each
131
131
330,484 (2024 - 264,900) Series A2 shares of £0.0001- each
33
26
93,750 (2024 - Nil ) Deferred Shares shares of £0.0001- each
9
-

268

257


During the year:
1) 65,584 Series A2 Shares with an aggregare nominal value of £6.56 were allotted and issued for a total consideration of £430,001.51.
2)  41,182 Ordinary Shares with an aggregare nominal value of £4.12 were allotted and issued for a total consideration of £270,009.79.
3) 93,750 Ordinary Shares were redesignated to Deferred Shares with an aggregare nominal value of £9.38.

Page 7

 
My-T Bio Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2025

7.


Reserves

Share premium account

This reserve records the amount above the nominal value received for shares issued by the company. Share premium may only be utilised to write-off any expenses incurred or commissions paid on the issue of those shares, or to pay up new shares to be allotted to members as fully paid bonus shares.


8.


Related party transactions

All related party transactions during the current period, including key management personnel compensation, were made under normal market conditions.


9.


Controlling party

The company is a 61.63% subsidiary of Medicxi III LP, a limited partnership registered in Jersey. The registered office of Medicxi III LP is 44 Esplanade, St. Helier, JE4 9WG, Jersey.
Medicxi III LP meets the definition of an Investment Entitiy in accordance with IFRS 10 and is not required to consolidate its investments, of which the company is an investment.


10.


Auditor's information

The auditor's report on the financial statements for the year ended 31 March 2025 was unqualified.

The audit report was signed on 19 June 2025 by Mark Attwood FCCA (Senior Statutory Auditor) on behalf of Kreston Reeves LLP.


Page 8