Elementary B Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: 12193272

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		746		936

			746		936
CURRENT ASSETS
Debtors	5	173,850		181,133
Cash at bank and in hand		349,431		151,932

		523,281		333,065
Creditors: Amounts Falling Due Within One Year	6	(67,960 )		(22,271 )

NET CURRENT ASSETS (LIABILITIES)			455,321		310,794

TOTAL ASSETS LESS CURRENT LIABILITIES			456,067		311,730

NET ASSETS			456,067		311,730

CAPITAL AND RESERVES
Called up share capital	7		14		12
Share premium account			1,980,152		917,899
Other reserves			300,000		402,100
Profit and Loss Account			(1,824,099 )		(1,008,281 )

SHAREHOLDERS' FUNDS			456,067		311,730

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Elementary B Ltd

Balance Sheet (continued)

As At 31 December 2025

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mrs Karen Rudich

Director

23/01/2026

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

Elementary B Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12193272 . The registered office is Warnford Court, Throgmorton Street, London, EC2N 2AT.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	3 years Straight line
Computer Equipment	3 years Straight line

3. Average Number of Employees

Average number of employees, including directors, during the year was: 7 (2024: 6)

4. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2025	-	1,204	1,204
Additions	245	-	245

As at 31 December 2025	245	1,204	1,449

Depreciation
As at 1 January 2025	-	268	268
Provided during the period	34	401	435

As at 31 December 2025	34	669	703

Net Book Value
As at 31 December 2025	211	535	746

As at 1 January 2025	-	936	936

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Elementary B Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

5. Debtors

	2025	2024
	£	£
Due within one year
R&D Tax Recoverable Asset	167,486	174,148
VAT	6,364	6,967
Other taxes and social security	-	18

	173,850	181,133

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	4,007	5
Other taxes and social security	46,444	-
Pensions Payable	760	1,027
Accruals and deferred income	16,749	-
Directors' loan accounts	-	21,239

	67,960	22,271

7. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	14	12

137,127,230 Ordinary Shares of £0.0000001 each at the end of the year

21,353,100 Ordinary shares of £0.0000001 each were issued during the period.

8. Share-based payment arrangements

During the year the company had share option arrangements in place under both Enterprise Management Incentive (EMI) and unapproved option schemes. Options have been granted to certain employees and/or directors to subscribe for ordinary shares in the company at an exercise price equal to the nominal value of the shares.

The options are subject to vesting conditions and are exercisable on the occurrence of specified events in accordance with the terms of the respective schemes.

At the balance sheet date, 16,124,039 options were outstanding, comprising 3,677,046 EMI options and 12,446,993 unapproved options.

In accordance with FRS 102 Section 26, the fair value of the options at the grant date has been assessed. Due to the very low value of the underlying shares at the date of grant, the total fair value of options granted is immaterial and therefore no share-based payment expense has been recognised in the profit and loss account for the year.

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