Company registration number 14006100 (England and Wales)
GUARDANT HEALTH UK LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
GUARDANT HEALTH UK LIMITED
COMPANY INFORMATION
Directors
J G Saia
M B Bell
Secretary
J G Saia
Company number
14006100
Registered office
C/O Company Secretarial Department
280 Bishopsgate
London
United Kingdom
EC2M 4AG
Auditor
Azets Audit Services
Suites B & D
Burnham Yard
London End
Beaconsfield
Buckinghamshire
United Kingdom
HP9 2JH
GUARDANT HEALTH UK LIMITED
CONTENTS
Page
Directors' report
1
Independent auditor's report
2 - 4
Statement of comprehensive income
5
Statement of financial position
6
Statement of changes in equity
7
Notes to the financial statements
8 - 16
GUARDANT HEALTH UK LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The directors present their annual report and financial statements for the year ended 31 December 2024.

Principal activities

The principal activity of the company is provision of services provided to group companies at 5% margin.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

J G Saia
M B Bell
Auditor

The auditor, Azets Audit Services, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
M B Bell
Director
12 March 2026
GUARDANT HEALTH UK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF GUARDANT HEALTH UK LIMITED
- 2 -
Opinion

We have audited the financial statements of Guardant Health UK Limited (the 'company') for the year ended 31 December 2024 which comprise the statement of comprehensive income, the statement of financial position, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the directors' report has been prepared in accordance with applicable legal requirements.

GUARDANT HEALTH UK LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF GUARDANT HEALTH UK LIMITED
- 3 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the directors' r eport. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit; or

- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report and from the requirement to prepare a strategic report.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

GUARDANT HEALTH UK LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF GUARDANT HEALTH UK LIMITED
- 4 -

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

- Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

- Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

David Green MA (Cantab) FCA
Senior Statutory Auditor
For and on behalf of Azets Audit Services
13 March 2026
Chartered Accountants
Statutory Auditor
Suites B & D
Burnham Yard
London End
Beaconsfield
Buckinghamshire
United Kingdom
HP9 2JH
GUARDANT HEALTH UK LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
2024
2023
as restated
Notes
£
£
Turnover
2
1,803,722
1,837,936
Administrative expenses
(1,717,830)
(1,750,397)
Profit before taxation
85,892
87,539
Tax on profit
5
(64,278)
(15,735)
Profit for the financial year
21,614
71,804

The income statement has been prepared on the basis that all operations are continuing operations.

GUARDANT HEALTH UK LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2024
31 December 2024
- 6 -
2024
2023
as restated
Notes
£
£
£
£
Current assets
Debtors
6
645,567
603,527
Cash at bank and in hand
185,570
56,338
831,137
659,865
Creditors: amounts falling due within one year
7
(239,161)
(338,103)
Net current assets
591,976
321,762
Provisions for liabilities
Provisions
8
177,715
-
0
(177,715)
-
Net assets
414,261
321,762
Capital and reserves
Called up share capital
12
1
1
Other reserves
95,500
165,585
Profit and loss reserves
14
318,760
156,176
Total equity
414,261
321,762

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 12 March 2026 and are signed on its behalf by:
M B Bell
Director
Company Registration No. 14006100
GUARDANT HEALTH UK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
Share capital
Share based payment reserve
Profit and loss reserves
Total
Notes
£
£
£
£
As restated for the period ended 31 December 2023:
Balance at 1 January 2023
1
-
-
0
1
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
-
71,804
71,804
Credit to equity for equity settled share-based payments
11
-
-
84,372
84,372
Transfers
-
249,957
-
0
249,957
Other movements
-
(84,372)
-
(84,372)
Balance at 31 December 2023
1
165,585
156,176
321,762
Year ended 31 December 2024:
Profit and total comprehensive income for the year
-
-
21,614
21,614
Credit to equity for equity settled share-based payments
11
-
-
140,970
140,970
Transfers
-
70,885
-
0
70,885
Other movements
-
(140,970)
-
(140,970)
Balance at 31 December 2024
1
95,500
318,760
414,261
GUARDANT HEALTH UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
1
Accounting policies
Company information

Guardant Health UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/O Company Secretarial Department, 280 Bishopsgate, London, United Kingdom, EC2M 4AG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Guardant Health Inc. These consolidated financial statements are available from its registered office, 3100 Hanover Street, Palo Alto, United States, CA 94304.

1.2
Prior period error

Refer to Prior Period Adjustment note for further details on adjustments made in respect of year ended 31 December 2023 and recognition of Restricted Stock Units ("RSUs") previously not recognised in the UK entity.

1.3
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. Revenue is derived from costs incurred in the period plus 5% margin.

GUARDANT HEALTH UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 9 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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.

Classification of financial liabilities

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.

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 paymen ts 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. A m ounts 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.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

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

GUARDANT HEALTH UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 10 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Share-based payments

Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the share price of the parent company. The fair value determined at the grant date is expensed on a graded basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.

When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value.

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is cancelled.

GUARDANT HEALTH UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 11 -
2
Turnover
2024
2023
£
£
Turnover analysed by class of business
Intercompany revenue
1,803,722
1,837,936
3
Operating profit
2024
2023
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange (gains)/losses
(33,067)
782
Share-based payments
70,885
249,957
4
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Sales
4
3
Business Development
-
2
Technology
1
1
Medical Affairs
2
1
Total
7
7

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
989,673
1,323,101
Social security costs
106,987
117,586
Pension costs
26,734
27,278
1,123,394
1,467,965
5
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
47,611
57,132
Adjustments in respect of prior periods
(854)
-
0
Total current tax
46,757
57,132
GUARDANT HEALTH UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
5
Taxation
2024
2023
£
£
(Continued)
- 12 -
Deferred tax
Deferred tax on share-based payments charge
17,521
(41,397)
Total tax charge
64,278
15,735

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
85,892
87,539
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 23.50%)
21,473
20,572
Tax effect of expenses that are not deductible in determining taxable profit
28,420
36,512
Adjustments in respect of prior years
(854)
-
0
Share based payment charge
17,521
(41,397)
Other
(2,282)
48
Taxation charge for the year
64,278
15,735

The company is within the scope of the OECD Pillar Two model rules. Pillar Two legislation was enacted in the

United Kingdom, the jurisdiction in which the company is incorporated, and came into effect from 1 January

2024. Based on the assessment undertaken, the company does not expect to be subject to any material Pillar

Two top up taxes.

6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
69,816
299,675
Prepayments and accrued income
551,875
262,455
621,691
562,130
Deferred tax asset (note 9)
23,876
41,397
645,567
603,527
GUARDANT HEALTH UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 13 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
0
600
Corporation tax
85,272
56,763
Other creditors
4,664
18,153
Accruals and deferred income
149,225
262,587
239,161
338,103
8
Provisions for liabilities
2024
2023
£
£
177,715
-

Provision has been recognised for amounts relating to settlement agreements and associated legal costs for termination of employees during the period with the cases settled after the reporting date.

Movements on provisions:
£
Additional provisions in the year
177,715
9
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Assets
Assets
2024
2023
Balances:
£
£
Share based payments
23,876
41,397
2024
Movements in the year:
£
Asset at 1 January 2024
(41,397)
Charge to profit or loss
17,521
Asset at 31 December 2024
(23,876)

The deferred tax asset set out above arises on unexercised share based payments. This is expected to reverse against the company's future profits once exercised.

GUARDANT HEALTH UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 14 -
10
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
26,734
27,278

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

11
Share-based payment transactions
Liabilities and expenses

Share based payments under various plans offered by the ultimate parent company, Guardant Health Inc. may be granted to employees of the company. These awards may be in the form of Stock Options and Restricted Stock Units ("RSUs").

Each share based payment has an exercise price equal to the market price of the ultimate parent company's common stock on the grant date and contractual term of three or four years from the date of the grant.
During the year, the company recognised total share-based payment expenses of £70,885 (2023 - £249,957) which related to equity settled share based payment transactions.

12
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1

Each share entitles its holder to one vote. Each share is entitled pari passu to dividend payments and distributions arising from winding up. The shares are not redeemable nor liable to be redeemed.

13
Share based payment reserve
2024
2023
£
£
At the beginning of the year
165,585
-
Additions
70,885
249,957
Other movements
(140,970)
(84,372)
At the end of the year
95,500
165,585

This reserve records amounts in relation to unexercised share awards (Restricted Stock Units) granted to employees.

GUARDANT HEALTH UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 15 -
14
Profit and loss reserves
2024
2023
as restated
£
£
At the beginning of the year
54,582
-
0
Prior year adjustment
101,594
-
0
As restated
156,176
-
0
Profit for the year
21,614
71,804
Share based payment transactions
140,970
84,372
At the end of the year
318,760
156,176

Profit and loss reserves represent the cumulative profits and losses of the company, net of any distributions to shareholders.

15
Ultimate controlling party

The immediate parent undertaking is Guardant Health International Inc, a company incoprorated in the United States. The ultimate controlling party is Guardant Health Inc. The group accounts can be obtained from 3100 Hanover Street, Palo Alto, United States, CA 94304.

16
Prior period adjustment
Reconciliation of changes in equity
1 January
31 December
2023
2023
£
£
Adjustments to prior year
Recognition of RSUs granted to UK staff
1
-
-
Accrued income for revenue true up
2
-
262,455
Deferred tax charge/credit
3
-
41,397
Corporation tax on RSUs adjustment
4
-
(36,673)
Total adjustments
-
267,179
Equity as previously reported
1
54,583
Equity as adjusted
1
321,762
Analysis of the effect upon equity
Share based payment reserve
-
165,585
Profit and loss reserves
-
101,594
-
267,179
GUARDANT HEALTH UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
16
Prior period adjustment
(Continued)
- 16 -
Reconciliation of changes in profit for the previous financial period
2023
£
Adjustments to prior year
Recognition of RSUs granted to UK staff
1
(249,957)
Accrued income for revenue true up
2
262,455
Deferred tax charge/credit
3
41,397
Corporation tax on RSUs adjustment
4
(36,673)
Total adjustments
17,222
Profit as previously reported
54,582
Profit as adjusted
71,804
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