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REGISTERED NUMBER: 14604755 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2025 TO 31 DECEMBER 2025

FOR

RHINO THERAPEUTICS LIMITED

RHINO THERAPEUTICS LIMITED (REGISTERED NUMBER: 14604755) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2025 TO 31 DECEMBER 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| RHINO THERAPEUTICS LIMITED |

COMPANY INFORMATION

FOR THE PERIOD 1 APRIL 2025 TO 31 DECEMBER 2025

| DIRECTORS: | K G Xanthopoulos

| A W Mulvaney

| REGISTERED OFFICE: | Fourth Floor St James House

| St James' Square

| Cheltenham

| GL50 3PR

| REGISTERED NUMBER: | 14604755 (England and Wales)

RHINO THERAPEUTICS LIMITED (REGISTERED NUMBER: 14604755) |

BALANCE SHEET

31 DECEMBER 2025

| 2025 | 2025 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 1,046 |  | 2,222 |  |

CURRENT ASSETS

Debtors | 5 | 1,422,189 |  | 1,233,310 |  |

Cash at bank | 745,182 |  | 28,943 |  |

2,167,371 |  | 1,262,253 |  |

CREDITORS

Amounts falling due within one year | 6 | 973,016 |  | 606,962 |  |

NET CURRENT ASSETS | 1,194,355 |  | 655,291 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,195,401 |  | 657,513 |  |

PROVISIONS FOR LIABILITIES | 262 |  | 556 |  |

NET ASSETS | 1,195,139 |  | 656,957 |  |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | 1,195,039 |  | 656,857 |  |

1,195,139 |  | 656,957 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Board of Directors and authorised for issue on 28 April 2026 and were signed on its behalf by:

K G Xanthopoulos - Director

RHINO THERAPEUTICS LIMITED (REGISTERED NUMBER: 14604755) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2025 TO 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| Rhino Therapeutics Limited 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

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.

| Turnover

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

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Computer equipment - 3 years straight line

| Taxation

| Taxation for the period 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 period end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Foreign currencies

| 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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| 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.

RHINO THERAPEUTICS LIMITED (REGISTERED NUMBER: 14604755) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 APRIL 2025 TO 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Going concern

| The directors have sought and received response from the parent company that financial support will be forthcoming for the next 12 months. On this basis, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

| Debtors

| Short term debtors are measured at transaction price, less any impairment.

| Cash and cash equivalents

| Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on Debtors.

| Creditors

| Short term creditors are measured at the transaction price.

| Grants

| Grants are recognised using the performance model. Grants related to specific performance conditions are recognised in come only when the entity has complied with those conditions.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the period was 2 (2025 - 2 ) .

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| Cost

| At 1 April 2025

| and 31 December 2025 | 4,705 |  |

| Depreciation

| At 1 April 2025 | 2,483 |  |

| Charge for period | 1,176 |  |

| At 31 December 2025 | 3,659 |  |

| Net book value

| At 31 December 2025 | 1,046 |  |

| At 31 March 2025 | 2,222 |  |

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2025 |

£ | £ |

| Amounts owed by group undertakings | 828,191 |  | 730,526 |  |

| Other debtors | 593,998 |  | 502,784 |  |

1,422,189 |  | 1,233,310 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2025 |

£ | £ |

| Trade creditors | 175,156 |  | 382,119 |  |

| Corporation tax | 183,164 |  | 146,739 |  |

| Social security and other taxes | 763 |  | 1,558 |  |

| Other creditors | 307 |  | 961 |  |

| Accruals and deferred income | 613,626 |  | 75,585 |  |

973,016 |  | 606,962 |  |

RHINO THERAPEUTICS LIMITED (REGISTERED NUMBER: 14604755) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 APRIL 2025 TO 31 DECEMBER 2025

7. | PENSION COMMITMENTS

| The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £31,938 (31st March 2025: £39,267). Contributions totalling £4,922 (31st March 2025: £nil) were repayable from the fund at the reporting date.

8. | RELATED PARTY DISCLOSURES

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9. | ULTIMATE CONTROLLING PARTY

| The company is a wholly owned subsidiary of Rhino Therapeutics, Inc. a company organized in Maine, USA.

| The smallest and largest group in which the results of the company are consolidated is that headed by Rhino Therapeutics, Inc., consolidated financial statements may be obtained from their address at PO Box 96, Tenants Hbr, ME, 04860, United States.