MINA (HOLDINGS) LIMITED

• ⚠

  Material uncertainty over going concern

  At the date of the issuance of these financial statements, the Company estimates that it has approximately 8 months of cash on hand and expected to be received shortly, and therefore it does not have sufficient to fund its operations for the next 12 months to 30 June 2026. While the Company anticipates the achievement of certain milestone payments relating to its ongoing collaborations, these cannot be certain.

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

IFRS

Reporting scope

Consolidated group

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

Ernst & Young LLP

Audit opinion

Unaudited (audit-exempt)

Going concern

Material uncertainty disclosed

“At the date of the issuance of these financial statements, the Company estimates that it has approximately 8 months of cash on hand and expected to be received shortly, and therefore it does not have sufficient to fund its operations for the next 12 months to 30 June 2026. While the Company anticipates the achievement of certain milestone payments relating to its ongoing collaborations, these cannot be certain.”

Group structure

1. MINA (HOLDINGS) LIMITED · parent
   1. MINA Therapeutics Limited 100% · England · Development of new treatments for medical conditions
   2. MINA Alpha Limited 100% · England · Development of new treatments for medical conditions
   3. MINA Beta Limited 100% · England · Development of new treatments for medical conditions
   4. MINA Therapeutics Denmark ApS 100% · Denmark · Development of new treatments for medical conditions

Significant events

• “In February 2025 the Company completed an equity financing of £1.9 million by way of an issuance of 60,897,435 Series A3 Preferred Shares (the "Series A3 round"). In connection with the Series A3 Round £1.0 million of convertible loan notes, which had been issued in December 2024, were converted resulting in the issuance of 3,677,552 Series A2 Preferred Shares and warrants over 4,859,341 Ordinary Shares. In addition, the Company and Bootstrap Europe 3.0 S.À.R.L. agreed to amend the terms of the secured loan, resulting in the issuance of 1,078,318 Series A2 Preferred Shares.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

12

last 12 months

Capital events

3

last 24 months

Officers appointed

0

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -66.9%

  £4,678,682 → £1,550,529

• Cash

  -84.3%

  £5,470,015 → £861,193

• Net assets

  -137.7%

  -£3,563,210 → -£8,469,165

• Employees

  -2.9%

  34 → 33

• Operating profit

  -9.5%

  -£7,803,032 → -£8,545,120

• Profit before tax

  -9.2%

  -£9,033,302 → -£9,866,127

• Wages

  -29.7%

  £3,459,726 → £2,431,364

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers