Silverfin false false 31/12/2025 01/07/2024 31/12/2025 J F Abell 29/07/2025 N A Cooper 25/03/2025 16/05/2023 J G Heard 29/07/2025 10/12/2019 B Muralidhar 25/03/2025 18 February 2026 The principal activities of Abingworth Management Limited are the promotion and management of investment funds focused on biotechnology, life sciences and related areas. These activities ceased during the year. The company does not expect to charge any fee income on its existing funds but will continue to operate until the remaining funds are fully liquidated. 01591587 2025-12-31 01591587 bus:Director1 2025-12-31 01591587 bus:Director2 2025-12-31 01591587 bus:Director3 2025-12-31 01591587 bus:Director4 2025-12-31 01591587 2024-06-30 01591587 core:CurrentFinancialInstruments 2025-12-31 01591587 core:CurrentFinancialInstruments 2024-06-30 01591587 core:Non-currentFinancialInstruments 2025-12-31 01591587 core:Non-currentFinancialInstruments 2024-06-30 01591587 core:ShareCapital 2025-12-31 01591587 core:ShareCapital 2024-06-30 01591587 core:RetainedEarningsAccumulatedLosses 2025-12-31 01591587 core:RetainedEarningsAccumulatedLosses 2024-06-30 01591587 bus:OrdinaryShareClass1 2025-12-31 01591587 core:ParentEntities 2025-12-31 01591587 core:ParentEntities 2024-06-30 01591587 2024-07-01 2025-12-31 01591587 bus:FilletedAccounts 2024-07-01 2025-12-31 01591587 bus:SmallEntities 2024-07-01 2025-12-31 01591587 bus:AuditExemptWithAccountantsReport 2024-07-01 2025-12-31 01591587 bus:PrivateLimitedCompanyLtd 2024-07-01 2025-12-31 01591587 bus:Director1 2024-07-01 2025-12-31 01591587 bus:Director2 2024-07-01 2025-12-31 01591587 bus:Director3 2024-07-01 2025-12-31 01591587 bus:Director4 2024-07-01 2025-12-31 01591587 2023-07-01 2024-06-30 01591587 core:Non-currentFinancialInstruments 2024-07-01 2025-12-31 01591587 bus:OrdinaryShareClass1 2024-07-01 2025-12-31 01591587 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 01591587 1 2024-07-01 2025-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 01591587 (England and Wales)

# ABINGWORTH MANAGEMENT LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 01 JULY 2024 TO 31 DECEMBER 2025
PAGES FOR FILING WITH THE REGISTRAR

ABINGWORTH MANAGEMENT LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 JULY 2024 TO 31 DECEMBER 2025

Contents

ABINGWORTH MANAGEMENT LIMITED

## COMPANY INFORMATION

FOR THE FINANCIAL PERIOD FROM 01 JULY 2024 TO 31 DECEMBER 2025
ABINGWORTH MANAGEMENT LIMITED

## COMPANY INFORMATION (continued)

FOR THE FINANCIAL PERIOD FROM 01 JULY 2024 TO 31 DECEMBER 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 | 01591587 (England and Wales)

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

ABINGWORTH MANAGEMENT LIMITED

## BALANCE SHEET

AS AT 31 DECEMBER 2025
ABINGWORTH MANAGEMENT LIMITED

## BALANCE SHEET (continued)

AS AT 31 DECEMBER 2025

| Note | 31.12.2025 |  | 30.06.2024
|  | £ |  | £
Current assets |  |  |  |
Cash at bank and in hand |  | 180,346 |  | 205,907
|  | 180,346 |  | 205,907
Creditors: amounts falling due within one year | 3 | ( 9,166) |  | ( 23,625)
Net current assets |  | 171,180 |  | 182,282
Total assets less current liabilities |  | 171,180 |  | 182,282
Creditors: amounts falling due after more than one year | 4 | ( 12,050) |  | ( 12,050)
Net assets |  | 159,130 |  | 170,232
Capital and reserves |  |  |  |
Called-up share capital | 5 | 2 |  | 2
Profit and loss account |  | 159,128 |  | 170,230
Total shareholder's funds |  | 159,130 |  | 170,232

For the financial period ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial period 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 Limited (registered number: 01591587) were approved and authorised for issue by the Board of Directors on 18 February 2026. They were signed on its behalf by:

B Muralidhar Director |

ABINGWORTH MANAGEMENT LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 JULY 2024 TO 31 DECEMBER 2025
ABINGWORTH MANAGEMENT LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 JULY 2024 TO 31 DECEMBER 2025

##### 1. Accounting policies

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

##### General information and basis of accounting

Abingworth Management 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.

##### Reporting period length

The accounting period has been extended to 31 December 2025 and as such the financial statements are prepared for a period of 18 months.

##### 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.

##### 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.

##### 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.

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.

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

#### 2. Employees

| Period from 01.07.2024 to 31.12.2025 |  | Year ended 30.06.2024
| Number |  | Number
Monthly average number of persons employed by the Company during the period, including directors | 2 |  | 2

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

| 31.12.2025 |  | 30.06.2024
| £ |  | £
Amounts owed to Group undertakings (note 6) | 6,416 |  | 6,416
Accruals | 2,750 |  | 17,209
| 9,166 |  | 23,625

#### 4. Creditors: amounts falling due after more than one year

| 31.12.2025 |  | 30.06.2024
| £ |  | £
Other creditors | 12,050 |  | 12,050

This relates to a distribution made by New Enterprise Associates (NEA) to be distributed to the former executives.

#### 5. Called-up share capital

| 31.12.2025 |  | 30.06.2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
2 Ordinary shares of £ 1.00 each | 2 |  | 2

#### 6. 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

| 31.12.2025 |  | 30.06.2024
| £ |  | £
Other related parties | 6,416 |  | 6,416

#### 7. Ultimate controlling party

The immediate and ultimate parent company is Abingworth Management Holdings Limited, a company registered in England and Wales with registered office 1 St. James's Market, London, SW1Y 4AH.