Resurrect Bio Ltd

(Registration number: 13793351)
Balance Sheet as at 31 December 2025

	Note	2025 £	(As restated) 2024 £
Fixed assets
Tangible assets	4	7,548	13,545
Current assets
Debtors	5	406,967	134,758
Cash at bank and in hand		83,841	624,755
		490,808	759,513
Creditors: Amounts falling due within one year	6	(353,980)	(28,577)
Net current assets		136,828	730,936
Net assets		144,376	744,481
Capital and reserves
Called up share capital	7	18	18
Share premium reserve		1,734,982	1,734,982
Other reserves		43,025	33,674
Profit and loss account		(1,633,649)	(1,024,193)
Total equity		144,376	744,481

Resurrect Bio Ltd

(Registration number: 13793351)
Balance Sheet as at 31 December 2025

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

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the Board on 26 October 2026 and signed on its behalf by:
 

.........................................

Dr C J Duggan
Director

Resurrect Bio Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
71-75 Shelton Street
Covent Garden
London
WC2H 9JQ
United Kingdom

2	Accounting policies

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Statement of compliance

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

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The accounts have been prepared on a going concern basis which assumes that the company has sufficient funds to continue to trade for the foreseeable future.

The directors have considered the ability of the company to continue trading as a going concern for the foreseeable future as this is contingent upon receiving external investment and funding. Subsequent to the year end, the company successfully completed a fundraise in January 2026, providing additional funding to support its ongoing operations. The directors have prepared profit and loss and cash flow projections to demonstrate the company's ability to continue to trade as a going concern for the foreseeable future and for at least twelve months from the date of approval of these accounts. Based on this, the directors are satisfied that the company is a going concern and have prepared the financial statements on that basis.

Resurrect Bio Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants are recognised, using the accrual model, at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible fixed assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Office equipment	3 years straight line
Computer equipment	3 years straight line
Laboratory equipment	3 years straight line

Research and development costs

Research and development costs are written off to profit or loss in the year incurred.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Resurrect Bio Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.

Resurrect Bio Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Share based payments

The company operates an equity-settled, share-based compensation plan, under which the entity receives services from employees as consideration for equity instruments (options) of the entity. The fair value of the employee services received is measured by reference to the estimated fair value at the grant date of equity instruments granted and is recognised as an expense over the vesting period. The estimated fair value of the option granted is calculated using the Black Scholes option pricing model. The total amount expensed is recognised over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied.

The proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium when the options are exercised.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2024 - 7).

Resurrect Bio Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

4	Tangible fixed assets

	Office equipment  £	Computer equipment  £	Laboratory equipment £	Total £
Cost
At 1 January 2025	1,057	9,427	19,437	29,921
Additions	-	2,538	2,718	5,256
At 31 December 2025	1,057	11,965	22,155	35,177
Depreciation
At 1 January 2025	504	3,975	11,898	16,377
Charge for the year	352	3,650	7,250	11,252
At 31 December 2025	856	7,625	19,148	27,629
Carrying amount
At 31 December 2025	201	4,340	3,007	7,548
At 31 December 2024	554	5,452	7,539	13,545

Resurrect Bio Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

5	Debtors: amounts falling due within one year

	2025 £	2024 £
Trade debtors	280,000	-
Prepayments	22,762	29,882
Other debtors	29,391	104,874
Directors' loan accounts	2	2
Corporation tax	74,812	-
	406,967	134,758

6

Creditors

	2025 £	2024 £
Amounts falling due within one year
Trade creditors	38,996	3,494
Taxation and social security	18,346	17,066
Other creditors	3,903	2,810
Accruals	292,735	5,207
	353,980	28,577

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £0.00001 each	1,200,000	12	1,200,000	12
Seed shares of £0.00001 each	583,691	6	583,691	6
	1,783,691	18	1,783,691	18

Resurrect Bio Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

8	Share-based payments

EMI Options

Scheme details and movements

The company has issued options over its unissued shares to employees. The options vest over a four-year period from the vesting commencement date, with 25% vesting on the first anniversary and the remaining options vesting in monthly instalments thereafter. Vesting is also subject to conditions, including the option holder's continuing employment by the company.


The term of the options is 10 years from the date of grant.

The movements in the number of share options during the year were as follows:

		2025		2024
		Number		Number
Outstanding, start of period		124,142		120,033
Granted during the period		-		4,109
Outstanding, end of period		124,142		124,142
Exercisable, end of period		83,939		51,900

The movements in the weighted average exercise price of share options during the year were as follows:

		2025		2024
		£		£
Outstanding, start of period		0.93		0.93
Granted during the period		-		0.93
Outstanding, end of period		0.93		0.93
Exercisable, end of period		0.93		0.93

Effect of share-based payments on profit or loss and financial position

The total expense recognised in profit or loss for the year was £6,801 (2024 - £33,674).

Resurrect Bio Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Unapproved options

Scheme details and movements

The company has issued options over its unissued shares. The options vest over a varied period from the vesting commencement date, with 25% vesting on the first anniversary and the remaining options vesting in monthly instalments thereafter.

The term of the options is 10 years from the date of grant.

The movements in the number of share options during the year were as follows:

	2025 Number
Granted during the period	6,568
Outstanding, end of period	6,568
Exercisable, end of period	3,253

The movements in the weighted average exercise price of share options during the year were as follows:

	2025 £
Granted during the period	1.27
Outstanding, end of period	1.27
Exercisable, end of period	1.20

Effect of share-based payments on profit or loss and financial position

The total expense recognised in profit or loss for the year was £2,550 (2024 - £Nil).

9	Prior year adjustment

The comparative figures have been restated to recognise a share based payment charge of £33,674, which was omitted from the prior year financial statements. The adjustment has resulted in an increase in administrative expenses of £33,674, with a corresponding increase in the share based payment reserve.