SYNDEX BIO LTD

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 13965733

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		387,847		216,894

			387,847		216,894
CURRENT ASSETS
Debtors	5	582,426		342,995
Cash at bank and in hand		7,185,333		9,061,100

		7,767,759		9,404,095
Creditors: Amounts Falling Due Within One Year	6	(373,167 )		(190,989 )

NET CURRENT ASSETS (LIABILITIES)			7,394,592		9,213,106

TOTAL ASSETS LESS CURRENT LIABILITIES			7,782,439		9,430,000

NET ASSETS			7,782,439		9,430,000

CAPITAL AND RESERVES
Called up share capital	7		10,857		10,857
Share premium account			10,845,404		10,845,404
Profit and Loss Account			(3,073,822 )		(1,426,261 )

SHAREHOLDERS' FUNDS			7,782,439		9,430,000

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SYNDEX BIO LTD

Balance Sheet (continued)

As At 31 March 2026

For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

The director acknowledges his 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 Geoffrey Paul Smith

Director

30th July 2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

SYNDEX BIO LTD is a private company, limited by shares, incorporated in England & Wales, registered number 13965733 . The registered office is Unit 3, The Press, Foxton, Cambridge, Cambridgeshire, CB22 6SA.

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 have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Research and Development

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

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:

Leasehold	Over 5 years
Plant & Machinery	Over 5 years
Computer Equipment	Over 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 tax expense represents the sum of the current tax expense and deferred tax expense. Current tax assets are recognised when tax paid exceeds the tax payable and when the realisation of tax repayment claim is probable.

Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting date

2.7. Share-based payments

The Company reflects the economic cost of awarding share options to employees by recording an expense in the Profit and Loss Account equal to the estimated fair value of the benefit awarded at the time of the award. The expense is recognised in the Profit and Loss Account on a straight line basis over the vesting period.

The amounts charged to Profit and Loss are reflected in reserves as the options are equity settled.

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SYNDEX BIO LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

3. Average Number of Employees

Average number of employees, including directors, during the year was: 15 (2025: 7)

4. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 April 2025	13,351	247,284	17,761	278,396
Additions	1,061	258,994	9,791	269,846
Disposals	-	(10,862 )	-	(10,862 )

As at 31 March 2026	14,412	495,416	27,552	537,380

Depreciation
As at 1 April 2025	2,043	54,251	5,208	61,502
Provided during the period	4,308	77,462	6,505	88,275
Disposals	-	(244 )	-	(244 )

As at 31 March 2026	6,351	131,469	11,713	149,533

Net Book Value
As at 31 March 2026	8,061	363,947	15,839	387,847

As at 1 April 2025	11,308	193,033	12,553	216,894

5. Debtors

	2026	2025
	£	£
Due within one year
Prepayments and accrued income	124,141	149,241
Corporation tax recoverable assets	396,923	126,250
VAT	60,197	66,525
Director's loan account	1,165	979

	582,426	342,995

6. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	202,904	157,655
Other taxes and social security	40,786	20,436
Other creditors	14,890	2,974
Accruals and deferred income	114,587	9,924

	373,167	190,989

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SYNDEX BIO LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

7. Share Capital

	2026	2025
Allotted, called up and fully paid	£	£
10,857,150 Ordinary Shares of £ 0.001 each	10,857	10,857

8. Other Commitments

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

	2026	2025
	£	£
Not later than one year	194,748	194,748
Later than one year and not later than five years	146,061	340,808

	340,809	535,556

9. Ultimate Controlling Party

The company's immediate and ultimate parent undertaking is Syndex Bio Inc., a company incorporated in the United States of America. The ultimate controlling party is Mr Geoffrey Paul Smith.

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