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REGISTERED NUMBER: OC424151 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

FOR

1632 LLP
1632 LLP (REGISTERED NUMBER: OC424151)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 September 2025










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


1632 LLP

GENERAL INFORMATION
For The Year Ended 30 September 2025







DESIGNATED MEMBERS: Merian Life Sciences ApS
N Goldsmith
A Gardiner





REGISTERED OFFICE: London Bioscience Innovation
2 Royal College Street
London
NW1 0NH





REGISTERED NUMBER: OC424151 (England and Wales)





ACCOUNTANTS: Redfin Management Limited
111 Charterhouse Street
Farringdon
London
EC1M 6AW
Page 1
1632 LLP (REGISTERED NUMBER: OC424151)

BALANCE SHEET
30 September 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Investments 4 145,914 192,900

CURRENT ASSETS
Debtors 5 2,980 2,980
Cash in hand 8,518 9,162
11,498 12,142
CREDITORS
Amounts falling due within one year 6 76,583 73,174
NET CURRENT LIABILITIES (65,085 ) (61,032 )
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS
80,829
131,868

LOANS AND OTHER DEBTS DUE TO
MEMBERS
150,548
150,548

MEMBERS' OTHER INTERESTS
Other reserves (69,719 ) (18,680 )
80,829 131,868

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 150,548 150,548
Members' other interests (69,719 ) (18,680 )
80,829 131,868

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 30 September 2025.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The notes form part of these financial statements

Page 2 continued...
1632 LLP (REGISTERED NUMBER: OC424151)

BALANCE SHEET - continued
30 September 2025


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 26 June 2026 and were signed by:





A Gardiner - Designated member

The notes form part of these financial statements

Page 3
1632 LLP (REGISTERED NUMBER: OC424151)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 September 2025


1. STATUTORY INFORMATION

1632 LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The LLP is in a net current liabilities position but has the continued support of the LLP members. The LLP members are confident that they have adequate resources to meet the LLP's liabilities as they fall due, for a period of at least twelve months from the date of signing the financial statements. Consequently, the LLP members believe it is appropriate that the financial statements have been prepared on a going concern basis.

Investments in associates
Investments in associate undertakings are recognised at cost.

Valuation of investments
Investments in unlisted shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Members' participation rights
Profit allocations will be recognised in the year in which they are declared and become a present obligation of the LLP. Unallocated profits or losses are recognised in equity (other reserves). Once profits are made, the statutory profit for the financial period available for discretionary division among members will be allocated subsequent to the approval of the financial statements, subject to the discretion of the LLP members.

Drawings represent payments on account of profits which may be allocated to members. Once profits are made, members will draw a proportion of their profit shares during the year in which it is made.

Capital will be contributed as the need is determined by the LLP members.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2024 - NIL).

4. FIXED ASSET INVESTMENTS
Interest
in
associate Listed Unlisted
undertakings investments investments Totals
£    £    £    £   
COST OR VALUATION
At 1 October 2024 90,950 4,790 97,160 192,900
Additions - - 3,348 3,348
Disposals - - (50,334 ) (50,334 )
At 30 September 2025 90,950 4,790 50,174 145,914
NET BOOK VALUE
At 30 September 2025 90,950 4,790 50,174 145,914
At 30 September 2024 90,950 4,790 97,160 192,900

Page 4 continued...
1632 LLP (REGISTERED NUMBER: OC424151)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 September 2025


4. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 30 September 2025 is represented by:

Interest
in
associate Listed Unlisted
undertakings investments investments Totals
£    £    £    £   
Valuation in 2024 - 634 - 634
Valuation in 2023 - (3,628 ) - (3,628 )
Cost 90,950 7,784 50,174 148,908
90,950 4,790 50,174 145,914

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Amounts owed by associates 2,980 2,980

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Other creditors 76,583 73,174

7. RELATED PARTY DISCLOSURES

At the year end the LLP owed £76,095 (2024: £72,724) to Double Bioventures Limited, a company whose shares are held by the designated members.

8. MEMBERS' REMUNERATION AND OTHER INTEREST

Members will be remunerated from the profits of the LLP and are required to make their own provision for pensions and other benefits.

Page 5