REGISTERED NUMBER: 16058510 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 4 NOVEMBER 2024 TO 30 NOVEMBER 2025

FOR

GXS THERAPEUTICS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A W M Haining

J R Heal

SECRETARY:

The Cambridge Partnership Limited

REGISTERED OFFICE:

C/o The Cambridge Partnership Ltd

The Dorothy Hodgkin Building

Babraham Research Campus, Babraham

Cambridge

Cambridgeshire

CB22 3FH

REGISTERED NUMBER:

16058510 (England and Wales)

ACCOUNTANTS:

Lovetts Accountants Limited

Devonshire Business Centre

Works Road

Letchworth

Hertfordshire

SG6 1GJ

CURRENT ASSETS

Debtors

4

22,219

Cash at bank

1,595

23,814

CREDITORS

Amounts falling due within one year

5

2,281

NET CURRENT ASSETS

21,533

TOTAL ASSETS LESS CURRENT LIABILITIES

21,533

CREDITORS

Amounts falling due after more than one year

6

80,922

NET LIABILITIES

(59,389

)

CAPITAL AND RESERVES

Called up share capital

5

Share premium

21,749

Other reserves

8,374

Retained earnings

(89,517

)

SHAREHOLDERS' FUNDS

(59,389

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2026 and were signed on its behalf by:

A W M Haining - Director

1.	STATUTORY INFORMATION

GXS Therapeutics Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Financial instruments

The financial instruments are comprised of financial liabilities, and are recognised when the company becomes party to the contractual provisions of the instrument.

Financial liabilities are derecognised when they are discharged.

The company carries financial liabilities at amortised cost.

Financial liabilities measured at amortised cost are subsequently measured using the effective interest method. Where the contractual cash flows of the financial liabilities are renegotiated or otherwise modified the financial liabilities are recalculated at the present value of the modified contractual cash flows discounted at the financial liability's original effective interest rate.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Going concern

As at 30 November 2025, the company has an excess of liabilities over assets and is dependent upon the continued support of its directors and investors. Therefore, the accounts have been prepared on a going concern basis in the knowledge this support will continue.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

22,219

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

634

Other creditors

1,647

2,281

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Other creditors

80,922

7.	FINANCIAL INSTRUMENTS

Included within other creditors is £87,000 of convertible loan notes issued during the year.

These loan notes are interest free for the duration of the loan and mature on 25 March 2027. At this date the notes are either repaid or converted to shares at a rate based on the Conversion Cap divided by the number of Fully Diluted Shares.

As the loan notes are interest free, they have been discounted to the net present value using a market borrowing rate of 8%.