Flox Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

Registered number: 11174409

		31 December 2025		31 December 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		65,794		5,399
Investments	5		1,038		1,038

			66,832		6,437
CURRENT ASSETS
Stocks	6	23,527		29,427
Debtors	7	830,858		673,125
Cash at bank and in hand		313,236		65,527

		1,167,621		768,079
Creditors: Amounts Falling Due Within One Year	8	(459,305 )		(367,091 )

NET CURRENT ASSETS (LIABILITIES)			708,316		400,988

TOTAL ASSETS LESS CURRENT LIABILITIES			775,148		407,425

Creditors: Amounts Falling Due After More Than One Year	9		(1,153,257 )		(502,087 )

NET LIABILITIES			(378,109 )		(94,662 )

CAPITAL AND RESERVES
Called up share capital	10		3		3
Share premium account			1,994,618		1,994,618
Profit and Loss Account			(2,372,730 )		(2,089,283 )

SHAREHOLDERS' FUNDS			(378,109)		(94,662)

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Flox Limited

Balance Sheet (continued)

As At 31 December 2025

For the 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.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr M I Shamsuddin

Director

24th June 2026

The notes on pages 3 to 7 form part of these financial statements.

1. General Information

Flox Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11174409 . The registered office is Mare Street Studios Unit 401, 203/213 Mare Street, London, England, E8 3JS.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors believe that the company has adequate financial resources to continue in operational existence for the foreseeable future and meet its liabilities as they fall due. Therefore, the directors have adopted the going concern basis in the preparation of these financial statements.

During the financial period the company incurred a pre-tax loss of £263,552 (2024: £192,218) following extensive investment in the company’s research and development activities. The company’s losses have to date been funded in part by the company’s parent company, Flox US Inc.

The company plans to fund future operations through secured external funding and continued support of its parent company Flox US Inc.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	5 years
Fixtures & Fittings	3 years
Computer Equipment	3 years

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. Taxation

The corporation tax charge is in respect of the notional corporation tax deduction on Research and Development Expenditure Credits. The gross RDEC is recognised within other operating income, as it is taxable income.

2.7. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

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Flox Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.8. Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.9. Research and development

Expenditure on research and development is written off in the year in which it is incurred.

2.10. Share-based payments

The parent company operates an equity-settled compensation plan on behalf of the company.

The fair value of the services received in exchange for the grant of the options is recognised as an expense. The total amount to be expensed over the vesting period is determined by reference to the fair value of the options granted, excluding the impact of any non-market vesting conditions. At each statement of financial position date, the entity revises its estimates of the number of options that are expected to vest. It recognises the impact of the revision to original estimates, if any, in the income statement. The credit entry is taken to reserves because the share options are equity-settled and then subsequently reclassified to creditors because the equity awards are fulfilled in the shares of the parent company.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 13 (2024: 10)

4. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2025	2,225	15,407	32,080	49,712
Additions	6,627	-	70,026	76,653

As at 31 December 2025	8,852	15,407	102,106	126,365

Depreciation
As at 1 January 2025	1,612	15,364	27,337	44,313
Provided during the period	1,239	43	14,976	16,258

As at 31 December 2025	2,851	15,407	42,313	60,571

Net Book Value
As at 31 December 2025	6,001	-	59,793	65,794

As at 1 January 2025	613	43	4,743	5,399

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Flox Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

5. Investments

	Subsidiaries
	£
Cost or Valuation
As at 1 January 2025	1,038

As at 31 December 2025	1,038

Provision
As at 1 January 2025	-

As at 31 December 2025	-

Net Book Value
As at 31 December 2025	1,038

As at 1 January 2025	1,038

Investments represent a 100% interest in Flox.sp.zoo a company incorporated in Poland.

6. Stocks

	31 December 2025	31 December 2024
	£	£
Materials	23,527	29,427

7. Debtors

	31 December 2025	31 December 2024
	£	£
Due within one year
Trade debtors	326,074	316,135
Prepayments and accrued income	18,714	7,025
Other debtors	139,024	17,102
Accrued Grant Income	281,280	324,701
RDEC Debtor	59,686	-
VAT	6,080	8,162

	830,858	673,125

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Flox Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

8. Creditors: Amounts Falling Due Within One Year

	31 December 2025	31 December 2024
	£	£
Trade creditors	22,667	3,516
Bank loans and overdrafts	-	10,043
Other taxes and social security	31,451	21,476
Accruals and deferred income	405,187	332,056

	459,305	367,091

9. Creditors: Amounts Falling Due After More Than One Year

	31 December 2025	31 December 2024
	£	£
Amounts owed to group undertakings	1,153,257	502,087

Amounts owed to group undertakings represent advances received from Flox (US) Inc. The balance is unsecured, bears interest at 5% per annum, and is not repayable within one year from the balance sheet date. The interest expense for the year was £50,893.

10. Share Capital

	31 December 2025	31 December 2024
Allotted, called up and fully paid	£	£
2,896,770 Ordinary Shares of £ 0.000001 each	3	3

Share Capital comprises 2,738,181 Ordinary shares and 158,589 A Ordinary shares.

11. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	31 December 2025	31 December 2024
	£	£
Not later than one year	30,100	34,974

	30,100	34,974

12. Ultimate Controlling Party

The immediate and ultimate parent undertaking is Flox (US) Inc. , a company incorporated in the United States of America and with a registered office address at 1207 Delaware Ave #2125, Wilmington, DE 19806.

The Directors consider there to be no ultimate controlling party.

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Flox Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

13. Share-based payments

The parent company operates an equity-settled share-based payment scheme on behalf of the company. This scheme has been provided to certain employees, contractors, and advisors.

At the date of the financial statements the company had granted 102,331 share options to 17 employees or consultants with an average exercise price of $0.000001 per share. As at the period-end 80,782 options had vested, no options had been exercised and 21,549 had lapsed.

Share options vest over a period of 18 to 30 months from the date of grant, in accordance with the option contracts.

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