Genomic Labs Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Genomic Labs Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12151270 . The registered office is Science Creates Old Market Lab 09, Midland Road, Bristol, BS2 0JZ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets relate to separately acquired trademaks. They are amortised to profit and loss account over the estimated economic life of five years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Lab Equipment	3 years straight line
Computer and Office Equipment	2-5 years straight line

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

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Genomic Labs Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

2.8. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

2.9. Research and development costs

Research and development costs are written off to the profit and loss account in the year incurred.

2.10. Share based payments

The company has issued options over its unissued shares to certain employees. The cost of equity-settled transactions is measured by reference to the fair value of the equity instruments granted at the date at which they are granted and is recognised as an expense over the vesting period, which ends on the date on which the option holder becomes fully entitled to the award. Fair value is determined using the Black Scholes pricing model.

At each balance sheet date before vesting, the cumulative expense is calculated, representing the extent to which the vesting period has expired and management’s best estimate of the achievement or otherwise of non-market conditions and of the number of equity instruments that will ultimately vest. The movement in cumulative expense since the previous balance sheet date is recognised in the profit and loss account, with a corresponding entry in equity.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 24 (2024: 19)

4. Intangible Assets

	Trademark
	£
Cost
As at 1 September 2024	7,620

As at 31 August 2025	7,620

Amortisation
As at 1 September 2024	5,080
Provided during the period	1,524

As at 31 August 2025	6,604

Net Book Value
As at 31 August 2025	1,016

As at 1 September 2024	2,540

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Genomic Labs Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

5. Tangible Assets

	Lab Equipment	Computer and Office Equipment	Total
	£	£	£
Cost
As at 1 September 2024	596,424	95,592	692,016
Additions	7,873	15,138	23,011

As at 31 August 2025	604,297	110,730	715,027

Depreciation
As at 1 September 2024	430,678	21,851	452,529
Provided during the period	114,726	47,622	162,348

As at 31 August 2025	545,404	69,473	614,877

Net Book Value
As at 31 August 2025	58,893	41,257	100,150

As at 1 September 2024	165,746	73,741	239,487

6. Debtors

	2025	2024
	£	£
Due within one year
Other debtors	1,347,408	833,930

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	39,876	122,555
Other creditors	497,921	215,722
Taxation and social security	49,215	43,597

	587,012	381,874

8. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
1,356,508 Ordinary Shares of £ 0.00001 each	14	14

9. Other Commitments

The company has operating leases relating to property. The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	58,645	106,531

	58,645	106,531

The amount of non-cancellable operating lease payments recognised as an expense during the year was

£209,157 (2024: £165,300).

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Genomic Labs Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

10. Share based payments

EMI share option scheme

Share options have been granted to certain employees under an EMI share option scheme. The options expire ten years after the grant date.

Included within administrative expenses is a share based payments expense of nil (2024: nil)

The movements in the number of share options during the year were as follows:

Outstanding at beginning of year: 47,843 (2024: 47,843)

Issued during the year: 13,500 (2024: nil)

Lapsed during the year: 18,534 (2024: nil)

Outstanding at end of year: 42,809 (2024: 47,843)

The weighted average exercise price of share options issued during the year was £3.06 per share (2024 - nil), and lapsed £0.64 (2024 - nil). The weighted average exercise price of all share options at the year end was £1.40 per share (2024 - £0.64).

Non-EMI share option scheme

Share options have been granted to certain members of management under an unapproved share option scheme. The options expire ten years after the grant date.

Included within administrative expenses is a share based payments expense of nil (2024: nil)

The movements in the number of share options during the year were as follows:

Outstanding at beginning of year: 19,833 (2024: 19,833)

Issued during the year: nil (2024: nil)

Outstanding at end of year: 19,833 (2024: 19,833)

The weighted average exercise price of share options issued during the year was nil (2024 - nil). The weighted average exercise price of all share options at the year end was £0.64 per share (2024 - £0.64).

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		1,016		2,540
Tangible Assets	5		100,150		239,487

			101,166		242,027
CURRENT ASSETS
Debtors	6	1,347,408		833,930
Cash at bank and in hand		1,001,054		867,637

		2,348,462		1,701,567
Creditors: Amounts Falling Due Within One Year	7	(587,012 )		(381,874 )

NET CURRENT ASSETS (LIABILITIES)			1,761,450		1,319,693

TOTAL ASSETS LESS CURRENT LIABILITIES			1,862,616		1,561,720

PROVISIONS FOR LIABILITIES
Deferred Taxation			(4,657 )		(7,935 )

NET ASSETS			1,857,959		1,553,785

CAPITAL AND RESERVES
Called up share capital	8		14		14
Share premium account			1,146,241		1,146,241
Profit and Loss Account			711,704		407,530

SHAREHOLDERS' FUNDS			1,857,959		1,553,785