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Company No: 02352178 (England and Wales)

# ABINGWORTH MANAGEMENT HOLDINGS LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2025
PAGES FOR FILING WITH THE REGISTRAR

ABINGWORTH MANAGEMENT HOLDINGS LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2025

Contents

ABINGWORTH MANAGEMENT HOLDINGS LIMITED

## COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2025
ABINGWORTH MANAGEMENT HOLDINGS LIMITED

## COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2025

DIRECTORS | J F Abell (Appointed 29 July 2025)
| N A Cooper (Resigned 25 March 2025)
| J G Heard (Resigned 29 July 2025)
| B Muralidhar (Appointed 25 March 2025)

SECRETARY | J F Abell

REGISTERED OFFICE | 1 St. James's Market
| London
| SW1Y 4AH
| United Kingdom

COMPANY NUMBER | 02352178 (England and Wales)

ACCOUNTANT | Alliotts LLP
| Manfield House
| 1 Southampton Street
| London
| WC2R 0LR

ABINGWORTH MANAGEMENT HOLDINGS LIMITED

## BALANCE SHEET

AS AT 30 JUNE 2025
ABINGWORTH MANAGEMENT HOLDINGS LIMITED

## BALANCE SHEET (continued)

AS AT 30 JUNE 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Investments | 3 | 0 |  | 198,002
|  | 0 |  | 198,002
Current assets |  |  |  |
Cash at bank and in hand | 4 | 163,242 |  | 2,582
|  | 163,242 |  | 2,582
Creditors: amounts falling due within one year | 5 | ( 16,889) |  | ( 15,949)
Net current assets/(liabilities) |  | 146,353 |  | (13,367)
Total assets less current liabilities |  | 146,353 |  | 184,635
Net assets |  | 146,353 |  | 184,635
Capital and reserves |  |  |  |
Called-up share capital | 6 | 200 |  | 200
Capital redemption reserve |  | 400 |  | 400
Profit and loss account |  | 145,753 |  | 184,035
Total shareholders' funds |  | 146,353 |  | 184,635

For the financial year ending 30 June 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- 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; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Abingworth Management Holdings Limited (registered number: 02352178) were approved and authorised for issue by the Board of Directors on 02 February 2026. They were signed on its behalf by:

B Muralidhar Director |

ABINGWORTH MANAGEMENT HOLDINGS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2025
ABINGWORTH MANAGEMENT HOLDINGS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Abingworth Management Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1 St. James's Market, London, SW1Y 4AH, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The directors consider the company's financial position to be sound. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the next twelve months. The life of the funds ultimately under management came to an end in previous years and the company is expected to cease to operate whens the funds' liquidation is complete. As required by FRS 102 Section 3 Going Concern, the directors have prepared the financial statements on a basis other than that of a going concern. This did not result in any material adjustments within the financial statements.

##### Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably).

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

##### Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 2 |  | 2

#### 3. Fixed asset investments

Investments in subsidiaries

| 2025
| £
Cost |
At 01 July 2024 | 198,002
At 30 June 2025 | 198,002
Provisions for impairment |
At 01 July 2024 | 0
Impairment | 198,002
At 30 June 2025 | 198,002
Carrying value at 30 June 2025 | 0
Carrying value at 30 June 2024 | 198,002

Investments in shares

Name of entity | Registered office | Principal activity | Class of shares | Ownership 30.06.2025 | Ownership 30.06.2024 | Held
Abingworth Management Limited | 1 St. James's Market, London, SW1Y 4AH | Investment management and advisory services | Ordinary | 100.00% | 100.00% | Direct
Abingworth Bioventures III GP Limited | 50 Lothian Road, Edinburgh, Midlothian, EH3 9WJ | General partner of limited partnerships | Ordinary | 100.00% | 100.00% | Direct
Abingworth Bioventures IV GP Limited | 50 Lothian Road, Edinburgh, Midlothian, EH3 9WJ | General partner of limited partnerships | Ordinary | 100.00% | 100.00% | Direct
Abingworth General Partner III LLP | 50 Lothian Road, Festival Square, Edinburgh, EH3 9WJ | General partner of limited partnership | Capital | 100.00% | 100.00% | Indirect
Abingworth General Partner IV LLP | 50 Lothian Road, Festival Square, Edinburgh, EH3 9WJ | General partner of limited partnership | Capital | 100.00% | 100.00% | Indirect

#### 4. Cash and cash equivalents

| 2025 |  | 2024
| £ |  | £
Cash at bank and in hand | 163,242 |  | 2,582

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Amounts owed to Group undertakings (note 7) | 10,949 |  | 10,949
Accruals | 5,940 |  | 5,000
| 16,889 |  | 15,949

#### 6. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
200 Ordinary shares of £ 200.00 each | 200 |  | 200

#### 7. Related party transactions

The Company has availed of the exemption provided in FRS 102 Section 33 Related Party Disclosures not to disclose transactions entered into with fellow group companies that are wholly owned within the group of companies of which the Company is a wholly owned member.

Transactions with group companies

Amounts owed to Group undertakings

| 2025 |  | 2024
| £ |  | £
Other related parties | 10,949 |  | 10,949