REGISTERED NUMBER: 10860446 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

DIOSYNVAX LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Professor J L Heeney

Professor R Wagner

Dr R Kinsley

Dr T Parlett

Professor R J Shaw

SECRETARIES:

Dr R Kinsley

Dr I McEwan

REGISTERED OFFICE:

Janelle House

Hartham Lane

Hertford

Hertfordshire

SG14 1QN

REGISTERED NUMBER:

10860446 (England and Wales)

ACCOUNTANTS:

Gary J Cansick & Co

Chartered Accountants

Janelle House

6 Hartham Lane

Hertford

Hertfordshire

SG14 1QN

BANKERS:

Lloyds Bank

FIXED ASSETS

Intangible assets

4

335,225

356,854

Tangible assets

5

68,583

73,285

403,808

430,139

CURRENT ASSETS

Debtors

6

135,766

45,541

Cash at bank

214,049

2,143,051

349,815

2,188,592

CREDITORS

Amounts falling due within one year

7

157,729

538,939

NET CURRENT ASSETS

192,086

1,649,653

TOTAL ASSETS LESS CURRENT LIABILITIES

595,894

2,079,792

CAPITAL AND RESERVES

Called up share capital

8

386

358

Share premium

7,334,182

6,940,525

Retained earnings

(6,738,674

)

(4,861,091

)

SHAREHOLDERS' FUNDS

595,894

2,079,792

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.

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 20 July 2026 and were signed on its behalf by:

Dr R Kinsley - Director

1.	STATUTORY INFORMATION

Diosynvax 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.

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

2.	ACCOUNTING POLICIES

Basis of preparing the 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents, Trademarks & Licences are being amortised evenly over their estimated useful life of twenty years.

Tangible fixed assets

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

Equipment

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

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.

Due to the nature of the company's activities, it has claimed R&D Tax Credits based on the expenditure in it's ongoing commitment to research and development. Sums recovered are credited to Profit & Loss Account once agreed and refunded by HMRC.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2024 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Patents,

Trademarks

& Licences

£

COST

At 1 January 2025

and 31 December 2025

432,461

AMORTISATION

At 1 January 2025

75,607

Amortisation for year

21,629

At 31 December 2025

97,236

NET BOOK VALUE

At 31 December 2025

335,225

At 31 December 2024

356,854

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

Equipment

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2025

131,226

1,067

24,226

156,519

Additions

10,539

-

1,740

12,279

At 31 December 2025

141,765

1,067

25,966

168,798

DEPRECIATION

At 1 January 2025

65,196

370

17,668

83,234

Charge for year

11,487

123

5,371

16,981

At 31 December 2025

76,683

493

23,039

100,215

NET BOOK VALUE

At 31 December 2025

65,082

574

2,927

68,583

At 31 December 2024

66,030

697

6,558

73,285

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Other debtors

135,766

45,541

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade creditors

12,013

15,125

Taxation and social security

31,313

18,872

Other creditors

114,403

504,942

157,729

538,939

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.25

31.12.24

value:

£

£

3,860,399

Ordinary shares

£0.0001

386

358