ACCOUNTS - Final Accounts preparation

Registered number: 12490885

XGENOMES LIMITED

UNAUDITED

ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

XGENOMES LIMITED

CONTENTS

	Page
Balance sheet	1 - 2
Notes to the financial statements	3 - 5

XGENOMES LIMITED

REGISTERED NUMBER: 12490885

BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£


Current assets
Debtors	4	2,520		78,233
Cash at bank		31,761		3,132
		34,281		81,365
Creditors: amounts falling due within one year	5	395,614		68,903
Net current (liabilities)/assets			(361,333)		12,462
Total assets less current liabilities			(361,333)		12,462
Creditors: amounts falling due after more than one year	6		1,669,815		1,906,686

Net liabilities			(2,031,148)		(1,894,224)

Capital and reserves
Called up share capital	7	1	1
Retained earnings		(2,031,149)	(1,894,225)
Shareholders' funds		(2,031,148)	(1,894,224)

The director considers 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 director acknowledges his 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:

Dr K Mir

Director

Date: 14 September 2026

The notes on pages 3 to 5 form part of these financial statements.

Page 1

XGENOMES LIMITED

REGISTERED NUMBER: 12490885

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2025

Page 2

XGENOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

XGenomes 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.
The presentation currency of the financial statements is the Pound Sterling (£).

2.Accounting policies

2.1

Basis of preparation of 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.

2.2

Going concern

The financial statements have been prepared on the going concern basis. The company incurred losses during the year, however the director believes that the company has sufficient financial resources to be able to meet its obligations, if and when, they become due, and that the company can continue in operational existence for a period of at least 12 months from the statement of financial position date. On this basis, the director is of the opinion that they should continue to adopt the going concern basis in preparing the annual financial statements.

2.3

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.5

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.

Page 3

XGENOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.6

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

2.7

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.

2.8

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

2.9

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2.10

Research and development

Revenue expenditure on research and development is written off in the period in which it is incurred.
The company's revenue expenditure on research and development often qualifies for relief under the various R&D tax relief schemes, including the SME R&D tax relief scheme and the Research and Development Expenditure Credit (RDEC) scheme. Tax Credits arising from successful claims under the SME R&D tax relief scheme are reflected 'below the line' as a reduction in the Corporation Tax charge or, if the company is loss making, as a Corporation Tax credit. Tax credits arising from successful claims under the RDEC scheme are subject to Corporation Tax. Gross benefits are therefore reflected 'above the line' in Other Income with the corresponding charge to Corporation Tax reflected as an increase in the Corporation Tax charge, or decrease in the Corporation Tax credit if appropriate. Tax credits receivable from R&D claims are recognised in the period in which the qualifying expenditure is incurred.

Page 4

XGENOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Employees

The average monthly number of employees, including directors, during the year was 2 (2024:2).

4.	Debtors: Amounts falling due within one year

					2025	2024
					£	£


Other debtors	2,520	78,233
	2,520	78,233

5.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	350,553	17,033
Taxation and social security	16,211	26,670
Other creditors	28,850	25,200
	395,614	68,903

6.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

	Amounts owed to group undertakings	1,669,815	1,906,686

7.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

1 (2024: 1) Ordinary share of £1	1	1

8.	Parent-subsidiary relationships

The ultimate controlling party is Xgenomes Corp, a company incorporated in the United States with its registered offices situated at 750 Main St, Cambridge, MA 02139, USA.

Page 5