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Registered number: 11669397 ECHOPOINT MEDICAL LTD UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2025
ECHOPOINT MEDICAL LTD REGISTERED NUMBER: 11669397 BALANCE SHEET AS AT 31 DECEMBER 2025
|  |  |  | As restated
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 32,980 |  | 27,633
Investments | 5 |  | 81 |  | -
|  |  | 33,061 |  | 27,633
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 359,339 |  | 183,986 |
Cash at bank and in hand | 7 | 1,673,111 |  | 3,314,083 |
|  | 2,032,450 |  | 3,498,069 |
Creditors: amounts falling due within one year | 8 | (158,287) |  | (158,448) |
Net current assets |  |  | 1,874,163 |  | 3,339,621
Total assets less current liabilities |  |  | 1,907,224 |  | 3,367,254
Net assets |  |  | 1,907,224 |  | 3,367,254
Capital and reserves |  |  |  |  |
Called up share capital | 9 |  | 50 |  | 48
Share premium account |  |  | 7,036,402 |  | 6,726,183
Share-based payment reserve |  |  | 968,010 |  | 194,290
Profit and loss account |  |  | (6,097,238) |  | (3,553,267)
|  |  | 1,907,224 |  | 3,367,254
Page 1
ECHOPOINT MEDICAL LTD REGISTERED NUMBER: 11669397 BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 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 year 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 statement of comprehensive income 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:
A R Odell
Director
Date: 3 August 2026
The notes on pages 3 to 9 form part of these financial statements. Page 2
ECHOPOINT MEDICAL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
Echopoint Medical Ltd is a private company limited by share capital and incorporated in England and Wales. The registered office is 2nd Floor 65-69 East Road, London, England, N1 6AH. 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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and 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 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:
| 2.2 | Going concern
The directors have considered the Company's financial position and, following investment received in February 2026, believe that preparing the financial statements on a going concern basis remains appropriate.
| 2.3 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. 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 Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'. Page 3
ECHOPOINT MEDICAL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.4 | 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.
| 2.5 | Government grants
Grants are accounted for 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 Statement of Comprehensive Income in the same period as the related expenditure.
| 2.6 | 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.
| 2.7 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
| 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. Page 4
ECHOPOINT MEDICAL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.8 | Tangible fixed assets (continued)
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:
|  |  |  | Leasehold improvements | - | 33% |
|  |  |  | Office equipment | - | 33% |
|  |  |  | Computer equipment | - | 33% |
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.
| 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 year was 10 (2024 - 6).
Page 5
ECHOPOINT MEDICAL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
4. | Tangible fixed assets
|  | Leasehold improvements | Office equipment | Computer equipment | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 January 2025 | 11,541 | 20,585 | 19,371 | 51,497
| Additions | - | 6,575 | 12,250 | 18,825
| At 31 December 2025 | 11,541 | 27,160 | 31,621 | 70,322
| Depreciation |  |  |  |
| At 1 January 2025 | 1,511 | 8,690 | 13,663 | 23,864
| Charge for the year on owned assets | 3,847 | 5,634 | 3,997 | 13,478
| At 31 December 2025 | 5,358 | 14,324 | 17,660 | 37,342
| Net book value |  |  |  |
| At 31 December 2025 | 6,183 | 12,836 | 13,961 | 32,980
| At 31 December 2024 | 10,030 | 11,895 | 5,708 | 27,633
5. | Fixed asset investments
|  | Unlisted investments
|  | £
| Cost or valuation |
| Additions | 81
| At 31 December 2025 | 81
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other debtors | 157,991 | 33,003
| Prepayments and accrued income | 84,805 | 19,148
| Tax recoverable | 116,543 | 131,835
|  | 359,339 | 183,986
Page 6
ECHOPOINT MEDICAL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
7. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 1,673,111 | 3,314,083
|  | 1,673,111 | 3,314,083
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 83,684 | 68,139
| Other taxation and social security | 30,152 | 15,399
| Other creditors | 8,973 | 3,094
| Accruals and deferred income | 35,478 | 71,816
|  | 158,287 | 158,448
9. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 254,517 (2024 - 250,349) Ordinary shares of £0.0001 each | 25 | 25
|  | 247,815 (2024 - 233,800) Ordinary B shares of £0.0001 each | 25 | 23
|  |  | 50 | 48
During the year 14,015 B Ordinary shares of £0.0001 were issued for a total consideration of £285,213. During the year 4,168 Ordinary shares of £0.0001 were issued for a total consideration of £25,008. Page 7
ECHOPOINT MEDICAL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
10. | Share-based payments
| During the year, the Company granted both unapproved and EMI share options.
|  | Weighted average exercise price (pence) 2025 | Number 2025 | Weighted average exercise price (pence) 2024 | Number 2024
| Outstanding at the beginning of the year |  | 77,600 |  | -
| Granted during the year | 499 | 36,300 | 600 | 77,600
| Forfeited during the year | 600 | (5,832) |  | -
| Exercised during the year | 600 | (4,168) |  | -
| Outstanding at the end of the year | 422 | 103,900 | 600 | 77,600
|  |  |  |  | 2025 | 2024
| Option pricing model used | Black-Scholes | Black-Scholes
| Weighted average share price (pence) | 422 | 600
| Exercise price (pence) | 499 | 600
| Weighted average contractual life (days) | 1,095 | 1,095
| Expected volatility | 20.3% | 20.3%
| Risk-free interest rate | 4.055% | 4.034%
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Equity-settled schemes | 843,259 | 194,290
|  | 843,259 | 194,290
11. | Prior year adjustment
A prior year adjustment of £194,290 has been posted to account for the share-based payment charge in respect of share options granted in the prior year. The profit and loss acount decreased by £194,290 and a share-based payment reserve was created with a corresponding entry.
12. | Pension commitments
The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £6,263 (2024: £4,229). Page 8
ECHOPOINT MEDICAL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
13. | Controlling party
The Company is controlled by its directors.
Page 9