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Registered number: 15373740 OLIGOTUNE LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2025
OLIGOTUNE LIMITED REGISTERED NUMBER: 15373740 BALANCE SHEET AS AT 30 SEPTEMBER 2025
|  | 30 September 2025 |  | 31 December 2024
Note |  | £ |  | £
FIXED ASSETS |  |  |  |  |
Tangible assets | 4 |  | 1,628 |  | 1,954
|  |  | 1,628 |  | 1,954
CURRENT ASSETS |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 20,846 |  | 16,569 |
Cash at bank and in hand |  | 11,165 |  | 72,190 |
|  | 32,011 |  | 88,759 |
Creditors: amounts falling due within one year | 6 | (3,420) |  | (24,834) |
NET CURRENT ASSETS |  |  | 28,591 |  | 63,925
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 30,219 |  | 65,879
NET ASSETS |  |  | 30,219 |  | 65,879
CAPITAL AND RESERVES |  |  |  |  |
Called up share capital | 7 |  | 79 |  | 79
Share premium account |  |  | 260,984 |  | 260,984
Profit and loss account |  |  | (230,844) |  | (195,184)
|  |  | 30,219 |  | 65,879
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OLIGOTUNE LIMITED REGISTERED NUMBER: 15373740 BALANCE SHEET (CONTINUED) AS AT 30 SEPTEMBER 2025 The directors consider 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 period in question in accordance with section 476 of the Companies Act 2006. 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. 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 profit and loss account 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:
L Roux
Director
Date: 22 July 2026
The notes on pages 3 to 6 form part of these financial statements. Page 2
OLIGOTUNE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2025
1. | GENERAL INFORMATION
Oligotune Limited is a private company limited by shares and incorporated in England and Wales. The registered office address is Salisbury House, Salisbury Road, Cambridge, CB1 2LA. The functional and presentational currency is GBP. The Company has changed its reporting date to 30 September (previously 31 December) as this allows visibility over the Companies financial position at a critical point in its development. The Company has now completed the key R&D activities for the current phase of the programme and are in the process of assembling the full data package and assessing it IP options. As the Company evaluates potential patent filings, it is important to have an accurate and up-to-date view of the financial position in order to forecast cashflow and determine the budget available for patent-related fees. Aligning the reporting date at this stage will therefore ensure the Company has the clarity needed while it runs its fundraising and partnership discussions in parallel. 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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of 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 | GOING CONCERN
The financial statements have been prepared on the going concern basis which assumes that the Company will continue as a going concern for the foreseeable future. The trading losses reported are consistent with the Company's business plan. Given the investment received to date, together with the development progress achieved, the directors have a reasonable expectation that the Company will be able to meet its liabilities as they fall due for the foreseeable future and therefore continue to adopt the going concern basis.
| 2.3 | RESEARCH AND DEVELOPMENT
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years. If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only. Page 3
OLIGOTUNE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.4 | GOVERNMENT GRANTS
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Profit and Loss Account in the same period as the related expenditure.
| 2.5 | INTEREST INCOME
Interest income is recognised in profit or loss using the effective interest method.
| 2.6 | 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.
| 2.7 | PENSIONS
DEFINED CONTRIBUTION PENSION PLAN The Company operates 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.
| 2.8 | 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:
|  |  |  | Computer equipment | - | 20% |
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. Page 4
OLIGOTUNE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.9 | 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.
| 2.10 | 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.
| 2.11 | 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.
3. | EMPLOYEES
| The average monthly number of employees, including directors, during the period was 2 (2024 - 4).
4. | TANGIBLE FIXED ASSETS
|  | Computer equipment
|  | £
| COST |
| At 1 October 2024 | 2,174
| At 30 September 2025 | 2,174
| DEPRECIATION |
| At 1 October 2024 | 220
| Charge for the period on owned assets | 326
| At 30 September 2025 | 546
| NET BOOK VALUE |
| At 30 September 2025 | 1,628
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OLIGOTUNE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2025
5. | DEBTORS
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other debtors | 20,257 | 5,921
| Called up share capital not paid | - | 10,010
| Prepayments and accrued income | 589 | 638
|  | 20,846 | 16,569
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 420 | 17,315
| Other taxation and social security | - | 4,121
| Other creditors | - | 598
| Accruals and deferred income | 3,000 | 2,800
|  | 3,420 | 24,834
7. | SHARE CAPITAL
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | ALLOTTED, CALLED UP AND FULLY PAID |  |
|  | 78,728 (2024 - 77,818) Ordinary Shares shares of £0.001 each | 79 | 78
|  | ALLOTTED, CALLED UP AND PARTLY PAID |  |
|  | Nil (2024 - 910) Ordinary Shares shares of £0.001 each | - | 1
.
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