| The profit and loss account has not been delivered to the registrar.These first-period accounts, 5 November 2024 to 30 November 2025, use FRS 102 Section 1A and the May 2024 LLP SORP. There are no comparatives or equity. No equity-change or cash-flow statement is presented. Going concern relies on administrator support described below.USD is the functional currency; GBP is used for UK presentation. Assets/liabilities use closing rates and income/expenses recognition-date rates. Year-end adjustments use USD 1.3252 per GBP 1 (Bank of England, 28 November 2025).The unsecured subordinated convertible loan to Oncoteq AG is measured at fair value through profit or loss under Section 12. Coupon rights are included, not accrued again. The legal claim continues.Investment movement in USD: opening nil; additions 200,228.57; fair-value reduction 200,228.57; closing nil. GBP equivalents: nil; 151,093.10; 151,093.10; nil, shown rounded. These use the reporting-date rate throughout, not acquisition-date sterling expenditure.Management retrospectively estimates nil value at 30 November 2025, considering adverse preclinical findings, delays and financial pressure alongside other product progress and reported support. No borrower year-end accounts or quantified recovery analysis were obtained. The estimate is materially uncertain; later evidence is used only for conditions existing at the reporting date. |
| The LLP acts as agent for administrator fees. Management confirms USD 10,752.83 belongs outright to the administrator, is non-refundable and, according to recollection, was fully settled with its nominee. No LLP fee revenue, cash, receivable or payable is recognised. No other reporting-date assets or unpaid expenses are represented. |