REGISTERED NUMBER: 11595354 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

NANOSYRINX LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr J E Dancer

Dr B Anninga

Dr A G Johnson

Dr E Moses

Ms L E Edwardes-Jones

Dr H J Sanganee

T J Farrell

REGISTERED OFFICE:

Unit 23b The Venture Centre

Sir Williams Lyons Road

University Of Warwick Science Park

Coventry

West Midlands

CV4 7EZ

REGISTERED NUMBER:

11595354 (England and Wales)

BANKERS:

HSBC Bank Plc

London

FIXED ASSETS

Intangible assets

4

186,827

116,683

Tangible assets

5

344,850

257,633

531,677

374,316

CURRENT ASSETS

Debtors

996,093

205,399

Cash at bank

6,687,915

9,612,590

7,684,008

9,817,989

CREDITORS

Amounts falling due within one year

613,297

195,638

NET CURRENT ASSETS

7,070,711

9,622,351

TOTAL ASSETS LESS CURRENT LIABILITIES

7,602,388

9,996,667

CAPITAL AND RESERVES

Called up share capital

7

10

10

Share premium

8

17,900,574

16,219,417

Other reserves

8

1,685,067

1,222,240

Retained earnings

8

(11,983,263

)

(7,445,000

)

SHAREHOLDERS' FUNDS

7,602,388

9,996,667

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2026 and were signed on its behalf by:

T J Farrell - Director

1.	STATUTORY INFORMATION

NanoSyrinx Ltd 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company and is rounded to the nearest £1.

Intangible assets

Patents are being amortised ay 6.5% per annum.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Laboratory equipment

-

5 years straight line

Fixtures and fittings

-

Over 4 years

Computer equipment

-

Over 3 years

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

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.

Share based payments

Where share options are awarded, the fair value of the options at the date of grant is charged to the Income Statement over the vesting period. The total amount to be expensed over the vesting period is determined by reference to the fair value of the options granted at the date of the grant, excluding the impact of any non-market vesting conditions.

At each balance sheet date the company revises its estimates of the number of options that are expected to vest. It recognises the impact of the revision to the original estimates, if any, in the Income Statement. The credit entry is taken to reserves because the share options are equity-settled.

Where equity instruments are granted to persons other than employees, the Income Statement is charged with the fair value of goods and services received.

The share options are exercisable on the Ordinary share capital of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2024 - 18 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2025

131,254

Additions

81,569

At 31 December 2025

212,823

AMORTISATION

At 1 January 2025

14,571

Amortisation for year

11,425

At 31 December 2025

25,996

NET BOOK VALUE

At 31 December 2025

186,827

At 31 December 2024

116,683

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2025

437,527

Additions

202,750

At 31 December 2025

640,277

DEPRECIATION

At 1 January 2025

179,894

Charge for year

115,533

At 31 December 2025

295,427

NET BOOK VALUE

At 31 December 2025

344,850

At 31 December 2024

257,633

6.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

as restated

£

£

Within one year

67,186

158,753

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

as restated

£

£

2,188,700

Ordinary

0.000001p

2

2

8,500,835

Seed Ordinary

0.000001p

8

8

10

10

The following fully paid shares were allotted during the year at a premium as shown below:

12,400 Ordinary shares of 0.000001p each at 0.000099p per share

787,036 Seed Ordinary shares of 0.000001p each at 215.999999p per share

8.

RESERVES

Retained

Share

Other

earnings

premium

reserves

Totals

£

£

£

£

At 1 January 2025

(7,445,000

)

16,219,417

1,222,240

9,996,657

Deficit for the year

(4,538,263

)

(4,538,263

)

Cash share issue

-

1,681,157

-

1,681,157

Share based payments

-

-

462,827

462,827

At 31 December 2025

(11,983,263

)

17,900,574

1,685,067

7,602,378

9.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme in respect of the directors and employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £186,758 (2024 - £114,476). At the year end there was a balance outstanding amounting to £51,899 (2024 - £24,806).

10.	SHARE-BASED PAYMENT TRANSACTIONS

Certain individuals participate in an equity compensation plan. The plan is administered by the company's Board of Directors, which has the authority to determine which individuals are granted stock option awards. Upon exercise, the option awards are settled in shares and cannot be settled in cash. The cost of this scheme are disclosed in the preceding notes and have been made in order to match relevant expenditure and changes in equity.

A summary of stock option activity for company employees for the period ended 31 December 2025 is as follows:

Details

Number of Options

Weighted Ave. Exercise Price

Outstanding at 1 January 2025

1,262,020

£0.023

Granted during the year

181,800

£0.000001

Exercised during the year

(12,400

)

£0.0001

Forfeited during the year

(17,900

)

£0.000085

Outstanding at 31 December 2025

1,413,520

£0.0205

11.	CONTROLLING PARTY

The directors do not consider there to be a single controlling or ultimate controlling party.