Mytos Bio Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 09957823

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		433,321		298,703

			433,321		298,703
CURRENT ASSETS
Stocks	5	186,181		208,014
Debtors	6	1,591,594		813,403
Cash at bank and in hand		1,074,775		2,306,413

		2,852,550		3,327,830
Creditors: Amounts Falling Due Within One Year	7	(2,204,786 )		(736,374 )

NET CURRENT ASSETS (LIABILITIES)			647,764		2,591,456

TOTAL ASSETS LESS CURRENT LIABILITIES			1,081,085		2,890,159

Creditors: Amounts Falling Due After More Than One Year	8		(687,731 )		(1,046,725 )

NET ASSETS			393,354		1,843,434

CAPITAL AND RESERVES
Called up share capital	9		4		4
Share premium account			15,731,228		13,235,114
Profit and Loss Account			(15,337,878 )		(11,391,684 )

SHAREHOLDERS' FUNDS			393,354		1,843,434

Page 1

Page 2

Mytos Bio Limited

Balance Sheet (continued)

As At 31 December 2025

For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

The directors acknowledge their 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

Dr Ali Afshar

Director

24th August 2026

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

Mytos Bio Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09957823 . The registered office is Translation And Innovation Hub , 84 Wood Lane, London, W12 0BZ.

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 a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The financial statements have therefore been prepared on the going concern basis.

The Company incurred a loss during the year of £3,946,194 (2024: £3,733,100), which has been funded by the company's parent company, Mytos Inc.

Mytos Inc will continue to provide further financial support to the Company for the foreseeable future and at least for 12 months from the approval of these financial statements.

The Directors having assessed the current financial position of Mytos Inc. and the overall group and have a reasonable expectation that the Company will have adequate resources to continue as going concern and pay its liabilities as they fall due for the foreseeable future being a period of at least one year from the date of approval of these accounts by the board of directors.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

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:

Plant & Machinery	20% Reducing Balance Basis
Fixtures & Fittings	20% Reducing Balance Basis
Computer Equipment	20% Straight Line Basis

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

Page 3

Page 4

Mytos Bio Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

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. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.8. Research and development

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

2.9. Share-based payments

The company operates an EMI qualifying share option scheme over shares to be issued in the parent company, Mytos Inc.

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 and and then subsequently reclassified to creditors because the equity awards are fulfilled in the shares of the parent company.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 27 (2024: 30)

4. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2025	414,206	27,576	74,628	516,410
Additions	200,418	727	19,106	220,251
Disposals	(19,000 )	-	-	(19,000 )

As at 31 December 2025	595,624	28,303	93,734	717,661

Depreciation
As at 1 January 2025	165,768	14,652	37,287	217,707
Provided during the period	52,702	4,479	14,157	71,338
Disposals	(4,705 )	-	-	(4,705 )

As at 31 December 2025	213,765	19,131	51,444	284,340

Net Book Value
As at 31 December 2025	381,859	9,172	42,290	433,321

As at 1 January 2025	248,438	12,924	37,341	298,703

5. Stocks

	2025	2024
	£	£
Inventory	186,181	208,014

Page 4

Page 5

Mytos Bio Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	584,319	53,881
Prepayments and accrued income	115,584	182,361
Other debtors	105,591	87,768
Corporation tax recoverable assets	659,187	420,355
VAT	126,913	69,038

	1,591,594	813,403

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	419,385	83,932
Bank loans and overdrafts	4,518	-
Other taxes and social security	72,940	57,724
Accruals and deferred income	1,215,725	99,223
Innovate UK Loan (Creditors < 1 year)	492,218	495,495

	2,204,786	736,374

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Innovate UK Loan	671,976	990,989
Amounts owed to group undertakings	15,755	55,736

	687,731	1,046,725

The Innovate UK loan is secured by a fixed and floating charge on the company's assets. The Loan is repayable over 3 years from December 2024.

9. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
21,838,284 Ordinary Shares of £ 0.0000002 each	4	4

2,496,114 Ordinary Shares of £0.0000002 each were issued during the year.

Share Capital comprises 21,678,084 Ordinary shares and 160,200 B Ordinary shares.

Page 5

Page 6

Mytos Bio Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

10. Other Commitments

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

	2025	2024
	£	£
Not later than one year	339,869	15,000
Later than one year and not later than five years	164,395	56,250

	504,264	71,250

11. Related Party Transactions

The company is 100% owned by Mytos Inc. At the year end, Mytos Inc was owed £15,755 (2024: £55,736) by the company.

12. Ultimate Controlling Party

The immediate and ultimate parent undertaking is Mytos Inc., a company incorporated in the United States of America and with a registered office address at 251 Little Falls Drive, Wilmington, New Castle, Delaware 19808, United States. The directors consider there to be no ultimate individual controlling party.

Page 6