Company No: 08093593 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Susan Jane Bell (Appointed 19 November 2025)
	Dr Glenn Crocker
	Dr Joseph Henry Hedley
	Martlet Capital Directors Limited (Resigned 20 August 2025)
	Iain Alasdair Keith Moodie (Appointed 19 November 2025)
	Dr Andrew Robert Pike (Resigned 20 August 2025)
	Rebecca Jane Roberts (Appointed 20 August 2025)
	Carl Andrew Sterritt (Resigned 29 October 2025)
	Dr Eimer Mary Tuite (Resigned 20 August 2025)
	Christopher Mark Wheatcroft (Resigned 20 August 2025)

SECRETARY

Muckle Secretary Limited

REGISTERED OFFICE	Time Central
	32 Gallowgate
	Newcastle Upon Tyne
	NE1 4BF
	United Kingdom

COMPANY NUMBER

08093593 (England and Wales)

ACCOUNTANT	S&W Partners Newcastle Limited
	17 Queens Lane
	Newcastle
	NE1 1RN

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	114,348		83,823
Tangible assets	4	803,654		972,172
		918,002		1,055,995
Current assets
Stocks		52,379		0
Debtors	5	369,728		418,472
Cash at bank and in hand		2,030,246		481,981
		2,452,353		900,453
Creditors: amounts falling due within one year	6	( 805,063)		( 876,288)
Net current assets		1,647,290		24,165
Total assets less current liabilities		2,565,292		1,080,160
Creditors: amounts falling due after more than one year	7	( 41,699)		( 1,483,197)
Net assets/(liabilities)		2,523,593		( 403,037)
Capital and reserves
Called-up share capital		11,438		6,514
Share premium account		6,871,413		2,095,853
Profit and loss account		( 4,359,258 )		( 2,505,404 )
Total shareholders' funds/(deficit)		2,523,593		( 403,037)

For the financial 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.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year 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 NunaBio Limited (registered number: 08093593) were approved and authorised for issue by the Board of Directors on 23 April 2026. They were signed on its behalf by:

Susan Jane Bell Director

1. Accounting policies

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

General information and basis of accounting

NunaBio 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 Time Central, 32 Gallowgate, Newcastle Upon Tyne, NE1 4BF, 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 ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of NunaBio Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

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 on monetary items.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment.

Other intangible assets

10 years straight line

Trademarks, patents and licences

Separately acquired patents and trademarks are included at cost. Provision is made for any impairment.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

20 - 33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) 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 Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	18		17

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 January 2025	83,823		83,823
Additions	41,197		41,197
At 31 December 2025	125,020		125,020
Accumulated amortisation
At 01 January 2025	0		0
Charge for the financial year	10,672		10,672
At 31 December 2025	10,672		10,672
Net book value
At 31 December 2025	114,348		114,348
At 31 December 2024	83,823		83,823

4. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 January 2025	1,203,350		1,203,350
Additions	35,876		35,876
At 31 December 2025	1,239,226		1,239,226
Accumulated depreciation
At 01 January 2025	231,178		231,178
Charge for the financial year	204,394		204,394
At 31 December 2025	435,572		435,572
Net book value
At 31 December 2025	803,654		803,654
At 31 December 2024	972,172		972,172

5. Debtors

	2025		2024
	£		£
Trade debtors	23,426		61,062
Corporation tax	205,926		105,012
Other debtors	140,376		252,398
	369,728		418,472

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	118,975		136,904
Taxation and social security	( 181,568)		20,354
Obligations under finance leases and hire purchase contracts (secured)	141,509		141,509
Other creditors	726,147		577,521
	805,063		876,288

The amounts due under finance leases and hire purchase contracts are secured against the assets to which they relate. The net book value of the fixed assets held under finance leases and hire purchase contracts was £356,469 (2024 - £445,586).

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Obligations under finance leases and hire purchase contracts (secured)	41,691		183,192
Other creditors	8		1,300,005
	41,699		1,483,197

The amounts due under finance leases and hire purchase contracts are secured against the assets to which they relate. The net book value of the fixed assets held under finance leases and hire purchase contracts was £356,469 (2024 - £445,586).

8. Events after the Balance Sheet date

Since the year end the company has allotted the following shares:
- 4 February 2026, 5,149 A Ordinary shares at £9.71 each;
- 11 March 2026, 25,746 Ordinary shares for £9.71 each;
- 11 March 2026, 56,641 A Ordinary shares at £9.71 each;
- 1 May 2026, 25,747 A Ordinary shares at £9.71 each.