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REGISTERED NUMBER: 11584266 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2026

for

Ampersand Health Limited

Ampersand Health Limited (Registered number: 11584266)

Contents of the Financial Statements

for the Year Ended 31 May 2026

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Ampersand Health Limited

Company Information

for the Year Ended 31 May 2026

| DIRECTORS: | N Alaghband

| G C Parkes

| J S Synett

| M C Jamieson

| D Tuch

| REGISTERED OFFICE: | 14 Amherst Avenue

| London

| W13 8NQ

| REGISTERED NUMBER: | 11584266 (England and Wales)

| ACCOUNTANTS: | Shaw Accounting Services Limited

| 14 Amherst Avenue

| London

| W13 8NQ

Ampersand Health Limited (Registered number: 11584266)

Balance Sheet

31 May 2026

| 31.5.26 | 31.5.25 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 873,699 |  | 1,044,542 |  |

Tangible assets | 5 | 193 |  | 257 |  |

873,892 |  | 1,044,799 |  |

CURRENT ASSETS

Debtors | 6 | 8,456 |  | 50,844 |  |

Cash at bank | 14,100 |  | 19,533 |  |

22,556 |  | 70,377 |  |

CREDITORS

Amounts falling due within one year | 7 | 345,560 |  | 288,773 |  |

NET CURRENT LIABILITIES | (323,004 | ) | (218,396 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 550,888 |  | 826,403 |  |

CREDITORS

Amounts falling due after more than one year | 8 | 300,000 |  | 21,143 |  |

NET ASSETS | 250,888 |  | 805,260 |  |

CAPITAL AND RESERVES

Called up share capital | 9 | 9 |  | 9 |  |

Share premium | 10 | 5,197,370 |  | 5,197,370 |  |

Option monies received | 10 | 42,250 |  | 42,250 |  |

Retained earnings | 10 | (4,988,741 | ) | (4,434,369 | ) |

SHAREHOLDERS' FUNDS | 250,888 |  | 805,260 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company.

Ampersand Health Limited (Registered number: 11584266)

Balance Sheet - continued

31 May 2026

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 3 July 2026 and were signed on its behalf by:

N Alaghband - Director

Ampersand Health Limited (Registered number: 11584266)

Notes to the Financial Statements

for the Year Ended 31 May 2026

1. | STATUTORY INFORMATION

| Ampersand Health Limited 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.

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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Development costs are being amortised evenly over their estimated useful life of five years.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Plant and machinery etc | - | 33% on cost

| 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.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| 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.

Ampersand Health Limited (Registered number: 11584266)

Notes to the Financial Statements - continued

for the Year Ended 31 May 2026

2. | ACCOUNTING POLICIES - continued

| Going concern

| The Company continues to manage its cash position carefully while pursuing a number of funding and commercial opportunities. At the date of approval of these financial statements, the Company is in active discussions with existing and prospective investors regarding further funding, and continues to receive interim support from shareholders. The directors also expect the Company to generate additional revenues from new commercial contracts in the near term.

| The directors have prepared cash flow forecasts which take account of the expected timing of further funding, shareholder support and anticipated commercial receipts. On this basis, the directors have a reasonable expectation that the Company will have adequate resources to continue in operational existence for the foreseeable future and have therefore prepared the financial statements on a going concern basis.

| However, the successful completion of further funding and the timing of new commercial revenues are not wholly within the Company's control. If such funding or revenues were delayed or not received as expected, the Company would need to take further actions to manage its cash position, including reducing expenditure, deferring commitments, seeking additional shareholder or third-party support, or considering other strategic options.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 5 (2025 - 4 ) .

4. | INTANGIBLE FIXED ASSETS

| Other

| intangible

| assets

£ |

| COST

| At 1 June 2025 | 3,529,667 |  |

| Additions | 303,501 |  |

| At 31 May 2026 | 3,833,168 |  |

| AMORTISATION

| At 1 June 2025 | 2,485,125 |  |

| Charge for year | 474,344 |  |

| At 31 May 2026 | 2,959,469 |  |

| NET BOOK VALUE

| At 31 May 2026 | 873,699 |  |

| At 31 May 2025 | 1,044,542 |  |

Ampersand Health Limited (Registered number: 11584266)

Notes to the Financial Statements - continued

for the Year Ended 31 May 2026

5. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 June 2025 | 18,600 |  |

| Additions | 224 |  |

| At 31 May 2026 | 18,824 |  |

| DEPRECIATION

| At 1 June 2025 | 18,343 |  |

| Charge for year | 288 |  |

| At 31 May 2026 | 18,631 |  |

| NET BOOK VALUE

| At 31 May 2026 | 193 |  |

| At 31 May 2025 | 257 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.5.26 |  | 31.5.25

£ | £ |

| Trade debtors | 1,748 |  | 35,956 |  |

| Other debtors | 6,708 |  | 14,888 |  |

8,456 |  | 50,844 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.5.26 |  | 31.5.25

£ | £ |

| Bank loans and overdrafts | - |  | 28,196 |  |

| Trade creditors | 125,150 |  | 146,894 |  |

| Taxation and social security | 3,886 |  | 12,544 |  |

| Other creditors | 216,524 |  | 101,139 |  |

345,560 |  | 288,773 |  |

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.5.26 |  | 31.5.25

£ | £ |

| Bank loans | - |  | 5,188 |  |

| Other creditors | 300,000 |  | 15,955 |  |

300,000 |  | 21,143 |  |

Ampersand Health Limited (Registered number: 11584266)

Notes to the Financial Statements - continued

for the Year Ended 31 May 2026

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

| The other creditors are represented by £300,000 of convertible loans (2025- £15,955 other loans).

| The convertible loans are unsecured, carry interest at 8% per annum and mature 36 months from the date of issue; subject to earlier redemption events, the principal amount of the loans automatically converts into shares on a qualifying financing round raising more than £1,000,000, at a 20% discount to the subscription price agreed for that round

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.5.26 |  | 31.5.25

| value: | £ | £ |

| 41,210 | Ordinary | £0.0001p | 4 |  | 4 |  |

| 500 | A Ordinary | £0.1000p | 5 |  | 5 |  |

9 |  | 9 |  |

| At 31 May 2026 there were options over 14,752 ordinary shares.

10. | RESERVES

| Option |

| Retained |  | Share |  | monies |

| earnings |  | premium |  | received |  | Totals

£ | £ | £ | £ |

| At 1 June 2025 | (4,434,369 | ) | 5,197,370 |  | 42,250 |  | 805,251 |  |

| Deficit for the year | (554,372 | ) | (554,372 | ) |

| At 31 May 2026 | (4,988,741 | ) | 5,197,370 |  | 42,250 |  | 250,879 |  |