XAP THERAPEUTICS LIMITED

• ⚠

  Material uncertainty over going concern

  As this funding is not guaranteed, this indicates that a material uncertainty exists that may cast significant doubt on the Group and the Company's ability to continue as a going concern and therefore it may be unable to realise its assets and discharge its liabilities in the normal course of business. The Directors consider that the funding will be forthcoming and therefore the going concern basis of preparation is deemed appropriate.

1. XAP THERAPEUTICS LIMITED 2021-07-20 → present
2. ROCKEND LIMITED 2017-02-10 → 2021-07-20

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

UK adopted international accounting standards

Reporting scope

Consolidated group

Auditor

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“As this funding is not guaranteed, this indicates that a material uncertainty exists that may cast significant doubt on the Group and the Company's ability to continue as a going concern and therefore it may be unable to realise its assets and discharge its liabilities in the normal course of business. The Directors consider that the funding will be forthcoming and therefore the going concern basis of preparation is deemed appropriate.”

Group structure

1. XAP THERAPEUTICS LIMITED · parent
   1. Xap Therapeutics Ltd 100% · UK · Principal activity
   2. Xap Therapeutics Inc 100% · USA · Support activity

Significant events

• “The Company is in the process of dissolving the US subsidiary.”
• “In June 2025 the Group secured a £2.4m convertible loan to fund the Group to Q4 2026.”
• “In 2025 the directors took actions to implement a cost reduction programme to reduce operating costs whilst retaining a core team within the business.”

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

Filings

14

last 12 months

Capital events

11

last 24 months

Officers appointed

1

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

  +88.1%

  £43,698 → £82,187

• Cash

  +23.5%

  £3,344,754 → £4,129,966

• Net assets

  -292.8%

  -£3,756,739 → -£14,757,061

• Employees

  +18.8%

  32 → 38

• Operating profit

  -8.1%

  -£8,986,580 → -£9,711,340

• Profit before tax

  -21.6%

  -£9,709,985 → -£11,812,043

• Wages

  +45.4%

  £2,547,555 → £3,703,795

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