BICYCLERD LIMITED

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  Negative shareholders' funds

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers

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.

1. BICYCLERD LIMITED 2017-10-27 → present
2. BICYCLE THERAPEUTICS LIMITED 2009-07-13 → 2017-10-27

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Company's parent, Bicycle Therapeutics plc, has confirmed that it will provide financial support to the Company such that the Company is able to operate as a going concern and to settle its liabilities as they fall due. This financial support will include: Not seeking the repayment of amounts advanced to the Company by the Parent and/or other members of the Parent group unless adequate alternative financing has been secured by the Company; and Advancing further amounts to the Company as required by the Company. The directors estimate that the parent's existing cash and cash equivalents on hand at the date of approval of these financial statements is sufficient to provide this financial support. This undertaking will remain in place for the foreseeable future and will not be withdrawn during a period of at least 12 months from the date of approval of these financial statements. Therefore it is appropriate to prepare these financial statements on a going concern basis.”

Significant events

• “In April 2026, the Company completed an assessment, inclusive of external legal advice, of the treatment of deemed distributions for tax losses historically surrendered to the Company's parent as group relief for nil value. For certain tax losses surrendered by the Company to its parent from 2023 to 2025, the Company did not have sufficient distributable reserves when the distributions were made, and as such the Company concluded that such distributions were out of compliance with the Companies Act. As a remedial action, the Company shall enter into certain intercompany arrangements with its parent in 2026 pursuant to which the Company's parent shall pay the Company £2,885k, representing the fair value of the tax losses surrendered.”

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

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

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