Caseware UK (AP4) 2025.0.111 2025.0.111 2025-12-31 2025-12-31 The company is involved in research and development in the biotechnology sector.false 2025-01-01 true 5 10 true The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10555293 2025-01-01 2025-12-31 10555293 2025-12-31 10555293 2024-01-01 2024-12-31 10555293 2024-12-31 10555293 c:Director2 2025-01-01 2025-12-31 10555293 d:OfficeEquipment 2025-01-01 2025-12-31 10555293 d:CurrentFinancialInstruments 2025-12-31 10555293 d:CurrentFinancialInstruments 2024-12-31 10555293 d:CurrentFinancialInstruments d:WithinOneYear 2025-12-31 10555293 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 10555293 d:ShareCapital 2025-12-31 10555293 d:ShareCapital 2024-12-31 10555293 d:RetainedEarningsAccumulatedLosses 2025-12-31 10555293 d:RetainedEarningsAccumulatedLosses 2024-12-31 10555293 c:FRS102 2025-01-01 2025-12-31 10555293 c:AuditExempt-NoAccountantsReport 2025-01-01 2025-12-31 10555293 c:FullAccounts 2025-01-01 2025-12-31 10555293 c:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 10555293 2 2025-01-01 2025-12-31 10555293 e:PoundSterling 2025-01-01 2025-12-31 iso4217:GBP xbrli:pure

Registered number: 10555293 BERGENBIO LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
BERGENBIO LIMITED REGISTERED NUMBER: 10555293 BALANCE SHEET AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 4,795 |  | 251,244 |
Cash at bank and in hand | 6 | 15,709 |  | 387,664 |
|  | 20,504 |  | 638,908 |
Creditors: amounts falling due within one year | 7 | (20,595) |  | (617,404) |
Net current (liabilities)/assets |  |  | (91) |  | 21,504
Total assets less current liabilities |  |  | (91) |  | 21,504
Net (liabilities)/assets |  |  | (91) |  | 21,504
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Profit and loss account |  |  | (191) |  | 21,404
|  |  | (91) |  | 21,504
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BERGENBIO LIMITED REGISTERED NUMBER: 10555293 BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2025 The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ Mr R Skeie
Director
Date: 18 June 2026
The notes on pages 3 to 9 form part of these financial statements. Page 2
BERGENBIO LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
Bergenbio Limited is a private company limited by share capital, incorporated in England and Wales, registration number 10555293. The address of the registered office is 8 King Edward Street, Oxford, OX1 4HL. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Non-going concern basis of accounting
The director has concluded that the going concern basis is not appropriate because the Company ceased to trade during the reporting period and all operations have been discontinued. Consequently the financial statements have been prepared on a non-going concern basis. This has had no impact on the reported results or net assets of the Company. The financial statements do not include any provision for the potential future costs for winding up the Company as no such costs were committed as at the year-end date.
| 2.3 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'. Page 3
BERGENBIO LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.4 | Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover 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 turnover shown in the accounts relates to the income received from the parent company, BerGenBio ASA who are funding the research and development activities of Bergenbio Limited. Team costs are reimbursed by the parent company plus a mark up of 7%. Other pass through costs are reimbursed by the parent company plus a mark up of 1%.
| 2.5 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.6 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.7 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.8 | Pensions
Defined contribution pension plan The Company contributes into a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds. Page 4
BERGENBIO LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.9 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
| 2.10 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Office equipment | - | 33% | Straight line basis
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.11 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.12 | 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.
| 2.13 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 5
BERGENBIO LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.14 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Basic financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. Page 6
BERGENBIO LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The key judgments are as follows: - Property, plant and equipment Property, plant and equipment are depreciated over their useful economic life taking into account, where appropriate, residual values. Assessment of useful lives and residual values are performed annually. In assessing the residual values, the remaining life of the asset, its projected disposal value and future market conditions are taken into account.
4. | Employees
| The average monthly number of employees, including directors, during the year was 5 (2024 - 10).
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BERGENBIO LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other debtors | 4,795 | 237,472
| Prepayments and accrued income | - | 13,772
|  | 4,795 | 251,244
6. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 15,709 | 387,664
|  | 15,709 | 387,664
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 11,905 | 52,263
| Amounts owed to group undertakings | 8,070 | 356,489
| Other taxation and social security | 620 | 36,222
| Other creditors | - | 100
| Accruals and deferred income | - | 172,330
|  | 20,595 | 617,404
8. | Pension commitments
The Company contributes into 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 £51,754 (2024 - £92,255). Contributions totalling £Nil (2024 - £100) were payable to the fund at the balance sheet date. and are included in creditors. Page 8
BERGENBIO LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
9. | Ultimate parent undertaking and controlling party
The Company is a subsidiary undertaking of Oncoinvent ASA (formerly BerGenBio ASA, an entity which completed a merger with Oncoinvent ASA on the 29th October 2025), a company incorporated and registered in Norway. The consolidated financial statements of the group are available to the public and may be obtained by contacting Oncoinvent ASA, Gullhaugveien 7, 0484 Oslo, Norway.
10. | Post balance sheet events
The Company ceased trading on 31 December 2025 and expects to complete a voluntary liquidation following the year end.
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