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Registered number: 16114652 GENERATIVE BIOLOGY LIMITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025
GENERATIVE BIOLOGY LIMITED CONTENTS
| Page
Company information | 1
Balance sheet | 2
Statement of changes in equity | 3
Notes to the financial statements | 4 - 8
GENERATIVE BIOLOGY LIMITED COMPANY INFORMATION
Director | L M Flashner
Registered number | 16114652
Registered office | Winchester House
| Heatley Road
| Oxford Science Park
| Oxford
| OX4 4GE
Independent auditor | Blick Rothenberg Audit LLP
| Chartered Accountants & Statutory Auditor
| 16 Great Queen Street
| Covent Garden
| London
| WC2B 5AH
Page 1
|  | REGISTERED NUMBER:16114652
GENERATIVE BIOLOGY LIMITED BALANCE SHEET AS AT 31 DECEMBER 2025
|  | 2025
Note |  | £
Creditors: amounts falling due within one year | 4 | (1,228) |
Net current liabilities |  |  | (1,228)
Total assets less current liabilities |  |  | (1,228)
Net liabilities |  |  | (1,228)
Capital and reserves |  |  |
Called up share capital | 5 |  | 1
Profit and loss account |  |  | (1,229)
Net deficit |  |  | (1,228)
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 signed by the sole director.
L M Flashner
Director
Date: 1 August 2026
The notes on pages 4 to 8 form part of these financial statements. Page 2
GENERATIVE BIOLOGY LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 31 DECEMBER 2025
| Called up share capital | Profit and loss account | Net deficit
| £ | £ | £
At 3 December 2024 | - | - | -
Comprehensive expenses for the period |  |  |
Loss for the financial period | - | (1,229) | (1,229)
Contributions by and distributions to owners |  |  |
Issue of share capital | 1 | - | 1
At 31 December 2025 | 1 | (1,229) | (1,228)
Page 3
GENERATIVE BIOLOGY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025
1. | General information
Generative Biology Limited 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. These financial statements have been prepared for a long period from 3 December 2024, being the company's incorporation date, to 31 December 2025. The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. 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 requirements 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 loss of £1,229 for the period reflects the start up nature of operations, which have been funded by the parent undertaking. The parent undertaking has confirmed to the directors that the on-going funding will continue. After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements. Page 4
GENERATIVE BIOLOGY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.3 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is Sterling (£). 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 profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within administrative expenses.
| 2.4 | Financial instruments
The Company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments. Financial assets and financial liabilities are recognised when the Company becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. The Company’s policies for its major classes of financial assets and financial liabilities are set out below. Financial assets Basic financial assets, including other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. Page 5
GENERATIVE BIOLOGY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
|  | Financial instruments (continued)
Financial liabilities Basic financial liabilities, including other creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Impairment of financial assets Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the Company would receive for the asset if it were to be sold at the reporting date. For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. Derecognition of financial assets and financial liabilities Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. Offsetting of financial assets and financial liabilities Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
| 2.5 | Share capital
Ordinary shares are classified as equity. Page 6
GENERATIVE BIOLOGY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.6 | Taxation
Tax is recognised in the profit and loss account. Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years. 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. Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
3. | Employees
| The Company has no employees other than the directors, who did not receive any remuneration.
4. | Creditors: amounts falling due within one year
|  |  |  |  | 2025
|  |  |  |  | £
| Amounts owed to the parent undertaking | 1,228
| Amounts owed to the parent undertaking is unsecured, interest free and repayable on demand.
Page 7
GENERATIVE BIOLOGY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025
5. | Share capital
|  |  |  |  | 2025
|  |  |  |  | £
|  | Allotted, called up and fully paid |
|  | 1 Ordinary share of £1.00 | 1
On incorporation the company issued 1 ordinary share of £1 at par, in order to establish the capital structure of the company. There is a single class of ordinary shares. There are no restrictions on the distribution of dividends and the repayment of capital.
6. | Controlling party
The ultimate parent company is EIT Oxford Holdings, LLC, a company incorporated in the United States of America, whose registered office is 101 Ygnacio Valley Road, Ste. 320 Walnut Creek, CA 94596. The immediate parent company is Ellison Institute of Technology, Oxford Limited, a company incorporated in England and Wales.
7. | Auditor's information
The auditor's report on the financial statements for the period ended 31 December 2025 was unqualified. The audit report was signed on 4 August 2026 by Simon Mayston (senior statutory auditor) on behalf of Blick Rothenberg Audit LLP.
Page 8