Company No: 16040141 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	31.10.2025
		£
Fixed assets
Intangible assets	3	14,880
		14,880
Current assets
Debtors	4	4,855
Investments	5	3,000
		7,855
Creditors: amounts falling due within one year	6	( 24,600)
Net current liabilities		(16,745)
Total assets less current liabilities		(1,865)
Net liabilities		( 1,865)
Capital and reserves
Called-up share capital	7	20
Profit and loss account		( 1,885 )
Total shareholders' deficit		( 1,865)

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

Director's responsibilities:

• The members have not required the company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Alula Therapy Ltd (registered number: 16040141) were approved and authorised for issue by the Director. They were signed on its behalf by:

Dr K M Aku Ayivor-Nygard Director

23 October 2026

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Alula Therapy Ltd (the company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 85 Wimpole Street, London, W1G 9RJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

10 years straight line

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

	Period from 24.10.2024 to 31.10.2025
	Number
Monthly average number of persons employed by the company during the period, including the director	1

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 24 October 2024	0		0
Additions	18,600		18,600
At 31 October 2025	18,600		18,600
Accumulated amortisation
At 24 October 2024	0		0
Charge for the financial period	3,720		3,720
At 31 October 2025	3,720		3,720
Net book value
At 31 October 2025	14,880		14,880

4. Debtors

	31.10.2025
	£
Amounts owed by connected companies	4,706
Other debtors	149
	4,855

5. Current asset investments

	31.10.2025
	£
Unlisted investment	3,000

6. Creditors: amounts falling due within one year

	31.10.2025
	£
Other taxation and social security	1,335
Other creditors	23,265
	24,600

7. Called-up share capital

	31.10.2025
	£
Allotted, called-up and fully-paid
2,000 Ordinary shares of £ 0.01 each	20

8. Related party transactions

Included within other debtors of £4,706 are balances owed to a company in which the director has an interest as director and participator.

Included within other creditors of £20,865 are balances owed to the director.