REGISTERED NUMBER: 03756817 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

SANGAMO THERAPEUTICS UK LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S B Willoughby

A D Macrae

REGISTERED OFFICE:

Fourth Floor St James House

St James' Square

Cheltenham

GL50 3PR

REGISTERED NUMBER:

03756817 (England and Wales)

AUDITORS:

Byrd Link Audit & Accountancy Services Limited

Statutory Auditor

Honeybourne Place

Jessop Avenue

Cheltenham

Gloucestershire

GL50 3SH

CURRENT ASSETS

Debtors

4

2,083,492

381,060

Cash at bank

377,966

1,325,392

2,461,458

1,706,452

CREDITORS

Amounts falling due within one year

5

392,811

217,656

NET CURRENT ASSETS

2,068,647

1,488,796

TOTAL ASSETS LESS CURRENT LIABILITIES

2,068,647

1,488,796

RESERVES

Other reserves

1,790,611

1,447,672

Retained earnings

278,036

41,124

SHAREHOLDERS' FUNDS

2,068,647

1,488,796

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 7 May 2026 and were signed on its behalf by:

S B Willoughby - Director

1.	STATUTORY INFORMATION

Sangamo Therapeutics UK Ltd 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 recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company is contracted by its ultimate parent company Sangamo Therapeutics, Inc. to deliver research and development services under and intercompany agreement. The Company is remunerated by its ultimate parent for these services.

Financial instruments

The company only enters basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Basic financial assets and liabilities that are payable or receivable within one year, typically trade payables and receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received.

Taxation

Taxation for the year 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 year 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.

Debtors and creditors

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivables are measured initially at fair value, net of transactions costs, and are measured subsequently at amortised cost using the effective interest method.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transactions costs, and are measured subsequently at amortised cost using the effective interest method.

Going Concern

The directors have considered the Company's ability to continue as a going concern for a period of at least twelve months from the date of approval of these financial statements. The Company is dependent on continued financial support from its parent undertaking in order to meet its obligations as they fall due.

The parent company has disclosed that conditions exist which give rise to a material uncertainty related to its ability to continue as a going concern, arising from its financial position. The parent company is currently exploring a range of strategic and funding options, including potential restructuring solutions, which may significantly affect its ability to provide ongoing financial support to the Company.

As a result, the Company is exposed to uncertainty through its reliance on continued parent company support. No formal guarantee of funding is in place and the availability of such support remains uncertain.

These conditions indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. The financial statements have therefore been prepared on a going concern basis.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Share based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each Statement of financial position date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.

The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as target based on an index) or factor which are within the control of one or other of the parties (such as the company keeping the scheme open or employee maintaining any contributions required by the scheme).

Where the terms and conditions of options are modified before they vest, the increase in fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.

Where equity instruments are granted to persons other than employees, profit or loss is charged with the fair value of goods and services received.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 9 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

2,066,533

359,211

VAT

9,509

13,725

Deferred tax asset

7,450

6,800

Prepayments and accrued income

-

1,324

2,083,492

381,060

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

21,212

-

Corporation tax

97,512

95,616

Pension Commitments

3,928

15,146

Accruals and deferred income

270,159

106,894

392,811

217,656

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1

Ordinary

0.01

-

-

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Russel Byrd FCA (Senior Statutory Auditor)

for and on behalf of Byrd Link Audit & Accountancy Services Limited

8.	PENSION COMMITMENTS

The Company operates a defined contributions 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 £35,769 (2023. - £49,652). Contributions totalling £3,928 (2023 - £15,146) were payable to the fund at the reporting date and are included in creditors.

9.	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.

10.	ULTIMATE CONTROLLING PARTY

The Ultimate controlling party is Sangamo Therapeutics, Inc, a company incorporated in the US, registered office 7000 Marina Boulevard, Brisbane, CA, 94005, USA

Sangamo Therapeutics, Inc, prepares consolidated financial statements into which the company is consolidated and represents both the largest and small consolidated account into which the company is consolidated. Copies of Group financial statements are available at Sangamo's website.