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Registered number: 13433538 ENEDRA THERAPEUTICS LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE PERIOD ENDED 31 JULY 2025
ENEDRA THERAPEUTICS LIMITED CONTENTS
| Page
Balance Sheet | 1 - 2
Notes to the Financial Statements | 3 - 7
ENEDRA THERAPEUTICS LIMITED REGISTERED NUMBER: 13433538 BALANCE SHEET AS AT 31 JULY 2025
|  | 31 July 2025 |  | 31 October 2024
Note |  | £ |  | £
FIXED ASSETS |  |  |  |  |
Tangible assets | 4 |  | 638 |  | 937
|  |  | 638 |  | 937
CURRENT ASSETS |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 370,685 |  | 602,405 |
Cash at bank and in hand |  | 37,173 |  | 90,374 |
|  | 407,858 |  | 692,779 |
Creditors: amounts falling due within one year | 6 | (20,162) |  | (639,024) |
NET CURRENT ASSETS |  |  | 387,696 |  | 53,755
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 388,334 |  | 54,692
NET ASSETS |  |  | 388,334 |  | 54,692
CAPITAL AND RESERVES |  |  |  |  |
Called up share capital | 7 |  | 149 |  | 108
Share premium account |  |  | 970,116 |  | 341,976
Profit and loss account |  |  | (581,931) |  | (287,392)
|  |  | 388,334 |  | 54,692
Page 1
ENEDRA THERAPEUTICS LIMITED REGISTERED NUMBER: 13433538 BALANCE SHEET (CONTINUED) AS AT 31 JULY 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. 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 profit and loss account 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:
Dr A P Ibrahim
Director
Date: 4 September 2025
The notes on pages 3 to 7 form part of these financial statements. Page 2
ENEDRA THERAPEUTICS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2025
1. | GENERAL INFORMATION
The Company is a private company limited by shares and incorporated in England and Wales. Its registered office address is Salisbury House, Station Road, Cambridge, CB1 2LA. The Company's functional and presentational currency is GBP. 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 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. 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. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
| 2.3 | GOVERNMENT GRANTS
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Profit and Loss Account in the same period as the related expenditure. Page 3
ENEDRA THERAPEUTICS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.4 | INTEREST INCOME
Interest income is recognised in profit or loss using the effective interest method.
| 2.5 | FINANCE COSTS
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 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 | 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. 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:
|  |  |  | Computer equipment | - | 3 years straight line
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.
| 2.8 | DEBTORS
Short-term debtors are measured at transaction price, less any impairment. Page 4
ENEDRA THERAPEUTICS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 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 are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.11 | 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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.12 | RESEARCH AND DEVELOPMENT
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years. If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only. Page 5
ENEDRA THERAPEUTICS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2025
3. | EMPLOYEES
| The average monthly number of employees, including directors, during the period was 6 (2024 - 4).
4. | TANGIBLE FIXED ASSETS
|  | Computer equipment
|  | £
| COST OR VALUATION |
| At 1 November 2024 | 2,456
| At 31 July 2025 | 2,456
| DEPRECIATION |
| At 1 November 2024 | 1,519
| Charge for the period on owned assets | 299
| At 31 July 2025 | 1,818
| NET BOOK VALUE |
| At 31 July 2025 | 638
| At 31 October 2024 | 937
Page 6
ENEDRA THERAPEUTICS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2025
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|  |  |  |  | 31 July 2025 | 31 October 2024
|  |  |  |  | £ | £
| Other debtors | 187,943 | 12,158
| Prepayments and accrued income | 182,742 | 590,247
|  | 370,685 | 602,405
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|  |  |  |  | 31 July 2025 | 31 October 2024
|  |  |  |  | £ | £
| Trade creditors | 4,013 | 2,412
| Other taxation and social security | 7,293 | 1,529
| Other creditors | 3,200 | 631,758
| Accruals and deferred income | 5,656 | 3,325
|  | 20,162 | 639,024
| Other creditors include contributions of £2,823 payable to the Company's defined contribution pension scheme at the balance sheet date.
7. | SHARE CAPITAL
|  |  |  |  | 31 July 2025 | 31 October 2024
|  |  |  |  | £ | £
|  | ALLOTTED, CALLED UP AND FULLY PAID |  |
|  | 149,489 (2024 - 14,342) Ordinary shares of £0.001 each | 149 | 108
During the year the Company issued the following shares: On 15 November 2024 the Company issued 3,307 Ordinary shares of £0.001 each for consideration of £50,003. On 15 November 2024 the Company issued 35,592 Ordinary shares of £0.001 each for consideration of £538,169. On 15 November 2024 the Company issued 2,646 Ordinary shares of £0.001 each for consideration of £40,009. Page 7