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Registered number: 16049297
OURO MEDICINES LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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OURO MEDICINES LTD
REGISTERED NUMBER: 16049297
BALANCE SHEET
AS AT 31 DECEMBER 2025
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Debtors: amounts falling due after more than one year
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Net current (liabilities)/assets
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Total assets less current liabilities
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OURO MEDICINES LTD
REGISTERED NUMBER: 16049297
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2025
The director considers 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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
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 statement of income and retained earnings 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 on 17 July 2026.
The notes on pages 4 to 8 form part of these financial statements.
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OURO MEDICINES LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2025
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Comprehensive income for the period
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Other comprehensive income for the period
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Total comprehensive income for the period
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Contributions by and distributions to owners
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Shares issued during the period
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Total transactions with owners
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The notes on pages 4 to 8 form part of these financial statements.
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OURO MEDICINES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
Ouro Medicines Ltd (company number 16049297) is a private company limited by shares and incorporated in England and Wales. Its registered office is 2 Roundwood Avenue, Stockley Park, Uxbridge, Middlesex, United Kingdom, UB11 1AF.
Ouro Medicines Ltd was incorporated on 29th October 2024.
The financial statements are made up of fourteen months covering 29th October 2024 to 31st December 2025.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The following principal accounting policies have been applied:
The Company receives financial support from its ultimate parent undertaking, Gilead Sciences, Inc, and takes this into account in meeting its liabilities as they fall due.
The director has received confirmation from Gilead Sciences, Inc that it will continue to provide such financial support as is necessary to enable the Company to meet its liabilities as they fall due, for a period of at least 12 months from the date of approval of these financial statements. The director has satisfied himself that Gilead Sciences, Inc has the resources available to provide this support.
On this basis, the director considers it appropriate to prepare the financial statements on a going concern basis, and the financial statements do not include any adjustments that would be required if the Company were unable to continue as a going concern.
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OURO MEDICINES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is USD.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
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.
Interest income is recognised in profit or loss using the effective interest method.
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.
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OURO MEDICINES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Cash and cash equivalents
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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.
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.
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The average monthly number of employees, including the director, during the period was as follows:
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OURO MEDICINES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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Due after more than one year
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Prepayments and accrued income
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Accruals and deferred income
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OURO MEDICINES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
Share premium account
During the financial period the Company issued 2,900 ordinary £0.01 shares resulting in a total premium of $28,999,971.
Other reserves
During the financial period, the Company received a capital contribution of $5,952,165 from Ouro Medicines, LLC, its parent undertaking.
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Related party transactions
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At the balance sheet date, Ouro Medicines Ltd had the following position with a company under common control. There is no provision of the uncollected balance and this loan is interest free.
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Post balance sheet events
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On 3 June 2026, all the outstanding equity of the Company's ultimate parent undertaking, Ouro Medicines, LLC, was acquired by Gilead Sciences, Inc. As a result, the Company became a member of the Gilead Sciences group with effect from that date.
At 31 December 2025, the ultimate controlling party was Ouro Medicines, LLC, a company incorporated in the United States of America, which owned 100% of the share capital of the Company. Refer to Note 9 for details of a change of control which occurred after the balance sheet date.
The registered office is in 701 Gateway Blvd, Unit 410 South San Francisco, CA 94080, United States of America.
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