REGISTERED NUMBER: 10987747 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Sarepta International UK Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J Bratica

REGISTERED OFFICE:

Spaces Reading

9 Greyfriars Road

Reading

Berkshire

RG1 1NU

REGISTERED NUMBER:

10987747 (England and Wales)

AUDITORS:

Mark Arber Limited

Chartered Certified Accountants

& Statutory Auditors

71-75 Shelton Street

London

WC2H 9JQ

CURRENT ASSETS

Debtors

4

3,656,236

6,840,312

Cash at bank

2,269,079

1,006,798

5,925,315

7,847,110

CREDITORS

Amounts falling due within one year

5

5,710,682

10,207,930

NET CURRENT ASSETS/(LIABILITIES)

214,633

(2,360,820

)

TOTAL ASSETS LESS CURRENT LIABILITIES

214,633

(2,360,820

)

CAPITAL AND RESERVES

Called up share capital

1

78

Share premium

2,580,181

-

Retained earnings

(2,365,549

)

(2,360,898

)

SHAREHOLDERS' FUNDS

214,633

(2,360,820

)

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 director and authorised for issue on 22 December 2025 and were signed by:

J Bratica - Director

1.	STATUTORY INFORMATION

Sarepta International UK 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.

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.

These accounts have been drawn up on the going concern basis. The company has made a loss for consecutive periods due to the material cost of share-based compensation awarded to the employees of the company by its parent and charged via the inter-company account. These costs are not included as "costs" under the terms of the inter-company service agreement and so not grossed up and recharged back to the parent. This results in a material loss for the period. The company is dependent upon the support of its parent company in order to meet its working capital requirements. The parent company has provided assurances that this support will continue for a period that exceeds twelve months from the date of approval of these financial statements. On the basis of these assurances and an assessment of the groups' financial position the directors believe that the going concern basis is appropriate.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Deferred taxation is recognised on the timing difference arising between the recognition of share-based compensation expenses under FRS102 S26 and the tax deduction that arises when the employees exercise their options. This is a material component of the deferred tax asset.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Share based compensation

The employees of the company are entitled to participate in the group share based compensation scheme. Cost is recognised in the financial statements based on the fair value of the options at the date of grant, amortized over the vesting period. The company has taken the exemption provided in FRS 102 Section 1.12D not to disclose details of share-based payment arrangements concerning equity instruments of another group entity.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 13 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Amounts owed by group undertakings

1,197,866

5,414,719

Other debtors

2,458,370

1,425,593

3,656,236

6,840,312

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

379,109

7,690

Amounts owed to group undertakings

3,123,069

8,610,998

Taxation and social security

1,055,766

826,316

Other creditors

1,152,738

762,926

5,710,682

10,207,930

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

As detailed in note 2 to the financial statements these accounts have been drawn up on the going concern basis. The company has made a loss for the period and previous periods due to costs associated with share-based compensation issued to employees by the parent company and credited to the inter-company account. The company is dependent upon the support of the parent company in order to meet its working capital requirements. The parent company has provided assurances that this support will continue for a period that exceeds twelve months from the date of approval of these financial statements. On the basis of these assurances the directors believe that the going concern basis is appropriate. Our report is not qualified in this respect.

Mark Arber (Senior Statutory Auditor)

for and on behalf of Mark Arber Limited

7.	RELATED PARTY DISCLOSURES

The company has taken the exemption provided by FFRS 102 Section 33.1A not to disclose related party transactions with wholly owned subsidiaries within the group.

8.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Sarepta International Holdings B.V. a company incorporated in the Netherlands. The ultimate parent company is Sarepta Therapeutics Inc. a company incorporated in the United States of America.