Company No: 12327990 (England and Wales)

Contents

• Company Information
• Accountants' Report
• Balance Sheet
• Notes to the Financial Statements

Directors	K F Ayerst
	C Horn
	M Valeur

Registered office	Innovation House C/O Kreston Reeves Llp
	Discovery Park
	Sandwich
	CT13 9FF
	United Kingdom

Company number

12327990 (England and Wales)

Accountant	Kreston Reeves LLP
	Suite 2
	Orchard House
	Orchard Street
	Canterbury
	Kent
	CT2 8AR

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of DeepX Health Limited for the financial year ended 31 December 2025 which comprise the Balance Sheet and the related notes 1 to 12 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

This report is made solely to the Board of Directors of DeepX Health Limited, as a body, in accordance with the terms of our engagement letter dated 02 January 2025. Our work has been undertaken solely to prepare for your approval the financial statements of DeepX Health Limited and state those matters that we have agreed to state to the Board of Directors of DeepX Health Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DeepX Health Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that DeepX Health Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of DeepX Health Limited. You consider that DeepX Health Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of DeepX Health Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Kreston Reeves LLP

Suite 2
Orchard House
Orchard Street
Canterbury
Kent
CT2 8AR

10 July 2026

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	185,852		223,022
Tangible assets	4	25,747		50,778
		211,599		273,800
Current assets
Debtors	5	78,286		186,496
Cash at bank and in hand	6	371		1,189
		78,657		187,685
Creditors: amounts falling due within one year	7	( 978,993)		( 1,527,431)
Net current liabilities		(900,336)		(1,339,746)
Total assets less current liabilities		(688,737)		(1,065,946)
Net liabilities		( 688,737)		( 1,065,946)
Capital and reserves
Called-up share capital	8	421,632		100,000
Share premium account	11	174,641		0
Profit and loss account		( 1,285,010 )		( 1,165,946 )
Total shareholder's deficit		( 688,737)		( 1,065,946)

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 member has 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of DeepX Health Limited (registered number: 12327990) were approved and authorised for issue by the Board of Directors on 08 July 2026. They were signed on its behalf by:

M Valeur 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

DeepX Health 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 Innovation House C/O Kreston Reeves Llp, Discovery Park, Sandwich, CT13 9FF, 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 Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The company relies upon the support provided by DeepX Health AS, the ultimate parent company. The directors believes that the company will have adequate resources to continue in operational existence for the foreseeable future.

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 Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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 supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so 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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences

10 years straight line

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	5 years straight line
Office equipment	5 years straight line

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		4

3. Intangible assets

	Trademarks, patents and licences		Total
	£		£
Cost
At 01 January 2025	371,703		371,703
At 31 December 2025	371,703		371,703
Accumulated amortisation
At 01 January 2025	148,681		148,681
Charge for the financial year	37,170		37,170
At 31 December 2025	185,851		185,851
Net book value
At 31 December 2025	185,852		185,852
At 31 December 2024	223,022		223,022

4. Tangible assets

	Plant and machinery		Office equipment		Total
	£		£		£
Cost
At 01 January 2025	101,917		1,590		103,507
Additions	2,384		0		2,384
Disposals	( 23,498)		0		( 23,498)
At 31 December 2025	80,803		1,590		82,393
Accumulated depreciation
At 01 January 2025	51,810		919		52,729
Charge for the financial year	16,354		318		16,672
Disposals	( 12,755)		0		( 12,755)
At 31 December 2025	55,409		1,237		56,646
Net book value
At 31 December 2025	25,394		353		25,747
At 31 December 2024	50,107		671		50,778

5. Debtors

	2025		2024
	£		£
Trade debtors	5,662		75,355
Amounts owed by Group undertakings	17,125		17,125
Prepayments and accrued income	55,499		93,004
VAT recoverable	0		1,012
	78,286		186,496

6. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	371		1,189

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	104,651		137,015
Amounts owed to Group undertakings	859,683		1,293,856
Accruals and deferred income	14,270		94,615
Other taxation and social security	389		1,945
	978,993		1,527,431

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
421,632 Ordinary shares of £ 1.00 each (2024: 100,000 shares of £ 1.00 each)	421,632		100,000

During the year, the company issued 321,632 ordinary shares of £1 each, in exchange for the settlement of a liability. The shares were issued at nominal value.

9. Financial commitments

Pensions

The Company operates 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 £270 (2024 - £1,321). Contributions totalling £Nil (2024 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.

10. Related party transactions

All related party transactions during the current year made under normal market conditions

11. Share premium

During the year, the company converted £496,273 of existing debt owed to DeepX Health AS into equity.

12. Ultimate controlling party

Parent Company:

DeepX Diagnostics Inc