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Registration number: 13786991

Outfox Bio Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 December 2025

Outfox Bio Limited

Contents

Balance Sheet | 1
Notes to the Unaudited Financial Statements | 2 to 6

Outfox Bio Limited

(Registration number: 13786991)
Balance Sheet as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 40,489 | 61,709
Current assets |  |  |
Debtors | 5 | 283,283 | 266,444
Cash at bank and in hand |  | 380,509 | 189,246
|  | 663,792 | 455,690
Creditors: Amounts falling due within one year | 6 | (62,192) | (45,324)
Net current assets |  | 601,600 | 410,366
Net assets |  | 642,089 | 472,075
Capital and reserves |  |  |
Called up share capital | 7 | 2,099,000 | 1,599,000
Retained earnings |  | (1,456,911) | (1,126,925)
Shareholders' funds |  | 642,089 | 472,075

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 accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 March 2026 and signed on its behalf by:

......................................... P R Cullis Director

Outfox Bio Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1 | General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Rutherford Appleton Laboratory
Harwell Oxford
Didcot
OX11 0FA

These financial statements were authorised for issue by the Board on 23 March 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Outfox Bio Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant & Machinery | 20% p.a. Straight line basis
Computer Equipment | 33% p.a. Straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Outfox Bio Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2024 - 7).

Outfox Bio Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

4 | Tangible assets

| Plant & Machinery and Computer Equipment £ | Total £
Cost or valuation
At 1 January 2025 | 101,424 | 101,424
At 31 December 2025 | 101,424 | 101,424
Depreciation
At 1 January 2025 | 39,715 | 39,715
Charge for the year | 21,220 | 21,220
At 31 December 2025 | 60,935 | 60,935
Carrying amount
At 31 December 2025 | 40,489 | 40,489
At 31 December 2024 | 61,709 | 61,709

5 | Debtors

| 2025 £ | 2024 £
Trade debtors | 129,473 | 139,620
Prepayments | 9,749 | 6,089
Other debtors | 144,061 | 120,735
| 283,283 | 266,444

Details of non-current trade and other debtors

£56,114 (2024 -£27,204) of other debtors is classified as non current. This relates to the non-current portion of the 2023 and 2024 RDEC claim.

Outfox Bio Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

6 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 4,758 | 14,643
Taxation and social security | 25,200 | 24,431
Accruals and deferred income | 32,234 | 6,250
| 62,192 | 45,324

7 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary of £0.10 each | 20,990,000 | 2,099,000 | 15,990,000 | 1,599,000

8 | Parent and ultimate parent undertaking

The company's ultimate controlling party is Hextwo Capital Inc, a company incorporated in Canada, by virtue of his ownership of 100% of the issued share capital in the company.