SLINGSHOT_THERAPEUTICS_LT

SLINGSHOT THERAPEUTICS LTD

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2026

- 1 -

2026

2025

Notes

Fixed assets

Tangible assets

14,060

1,904

14,060

1,904

Current assets

Debtors

141,058

112,270

Cash and cash equivalents

863,519

2,425,477

1,004,577

2,537,747

Current liabilities

(175,799)

(313,075)

Net current assets

828,778

2,224,672

Net assets

842,838

2,226,576

Equity

Called up share capital

3,401

Share premium account

3,396,599

Income statement reserve

(2,557,162)

(1,173,424)

Total equity

842,838

2,226,576

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

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

On behalf of the board

K Butler

Director

Date:

13/09/2026

Company registration number 15877851 (England and Wales)

SLINGSHOT THERAPEUTICS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

- 2 -

Accounting policies

General Information

Slingshot Therapeutics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 15877851. The registered office is Burnham House, Splash Lane, Wyton, Huntingdon, Cambridgeshire, PE28 2AF.

1.1

Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of 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 financial statements are presented in pounds sterling, which is the company's functional and presentation currency. Amounts in the financial statements have been rounded to the nearest £1, unless otherwise stated.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2

Going concern

The Directors have assessed the Company's ability to continue as a going concern and are satisfied that it remains appropriate to prepare the financial statements on a going concern basis. The Company is currently reliant on continued investment activity funded within the wider Syncona group. Historically, funding for new portfolio investments has been provided by Syncona Portfolio Limited and utilised to support the development of underlying asset companies, which in turn generate fee income for Slingshot Therapeutics Limited through the provision of operational and scientific services. In the event that such investments are delayed or reduced, the Company would be reliant on continued financial support from its investors to meet its obligations.

Since the Company's foundation, it has been able to attract the funding to support the development of the company and its activities. The directors are confident that the current cash balance, combined with the forecast potential future income streams and, if required, continued funding support from its current investors, the company can continue to pay its debts as they fall due for at least 12 months from the date of approval of these financial statements. As a result, we have concluded that the financial statements should be prepared on the going concern basis.

1.3

Significant judgements and estimations

In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no key sources of estimation uncertainty.

1.4

Tangible fixed assets and depreciation

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

SLINGSHOT THERAPEUTICS LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2026

Accounting policies

(Continued)

- 3 -

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings

Straight line 5 years

Computer Equipment

Straight line 3 years

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

1.5

Financial instruments

The Company has applied sections 11 and 12 of FRS 102. The company entered into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

An equity instrument is defined as any contract that evidences a residual interest in an entity's assets after deducting all of its liabilities.

1.6

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

SLINGSHOT THERAPEUTICS LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2026

Accounting policies

(Continued)

- 4 -

1.7

Pensions

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Average Number of Employees

Average number of employees, including directors, during the period was: 4 (2025: 1).

Tangible assets

Fixtures and fittings

Computer equipment

Total

Cost

As at 1 April 2025

2,176

Additions

8,531

6,986

15,517

As at 31 March 2026

8,531

9,162

17,693

Depreciation

As at 1 April 2025

272

Provided during the period

1,280

2,081

3,361

As at 31 March 2026

1,280

2,353

3,633

Net Book Value

As at 31 March 2026

7,252

6,809

14,060

As at 1 April 2025

1,904

Debtors

Year ended

Period ended

31 March

2026

2025

Due within one year

Amounts owed by group undertakings

115,280

32,200

Other debtors

667

Prepayments and accrued income

25,778

13,991

VAT

65,412

141,058

112,270

SLINGSHOT THERAPEUTICS LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2026

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Creditors: amounts falling due within one year

Year ended

Period ended

31 March

2026

2025

Trade creditors

14,178

68,539

Amounts owed to group undertakings

12,672

186,560

Other taxes and social security

35,484

13,703

VAT

25,352

Accruals and deferred income

88,113

44,273

175,799

313,075

Share capital

Year ended

Period ended

31 March

2026

2025

Allotted, called up and fully paid

3,401,000 (2025:3,401,000) Ordinary Shares of £0.001 each

3,401

The ordinary shares have one vote per share and rank pari passu for dividends and capital distributions.

Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 March 2026 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:

Stephen Wyborn

Statutory Auditor:

Grant Thornton UK LLP

Date of audit report:

13 September 2026

SLINGSHOT THERAPEUTICS LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2026

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Related party transactions

Transactions with directors

During the year, the Company was charged £4,800 (2025: £Nil) for consultancy services provided by R Wooster, a director of the company, outside of their role as a director. £4,800 was outstanding at the reporting date.

Transactions with other related parties

The Company provides management services to the following companies in the group: Apini Therapeutics Limited and ALTx Therapeutics Limited.

During the year, the total amount invoiced to Apini Therapeutics Limited amounted to £394,581 (2025: £213,000). The amount outstanding as at 31 March 2026 was £34,107 (2025: £32,200) and is shown in amounts owed by group undertakings, within debtors.

During the year, the total amount invoiced to ALTx Therapeutics Limited amounted to £410,273 (2025: £Nil). The amount outstanding as at 31 March 2026 was £81,173 (2025: £Nil) and is shown in amounts owed by group undertakings, within debtors.

The Company is also recharged management service fees by the group company Syncona Investment Management Limited.

During the year, the total amount invoiced to the Company from Syncona Investment Management Limited amounted to £918,221 (2025: £1,009,460). The amount outstanding as at 31 March 2026 was £12,672 and is shown in amounts owed to group undertakings within creditors (2025: £186,560). Included within the amount invoiced was £40,000 (2025: £24,000) in respect of directors' services provided by directors K Butler and E Hodgkin.

Ultimate controlling party

The Company's immediate parent undertaking is Slingshot Therapeutics Holdings Limited, a company incorporated in the UK. Copies of their accounts may be obtained from the secretary, Burnham House, Splash Lane, Huntingdon, PE28 2AF. The ultimate parent company and ultimate controlling party is Syncona Limited who controls 100% of the shares of Slingshot Therapeutics Holdings Limited. Syncona Limited is registered as a closed-ended investment company incorporated in Guernsey.

The consolidated financial statements of Syncona Limited are available from the London Stock Exchange and on the website www.synconaltd.com.