4 28 November 2023 false false false false false false false false false false true false false false false false false No description of principal activity 2022-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 2,538,869 2,449,593 48,038 2,497,631 41,238 89,276 21,935 21,935 21,935 xbrli:pure xbrli:shares iso4217:EUR 6678299 2022-03-01 2023-02-28 6678299 2023-02-28 6678299 2022-02-28 6678299 2021-01-01 2022-02-28 6678299 2022-02-28 6678299 2020-12-31 6678299 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-03-01 2023-02-28 6678299 core:PlantMachinery 2022-03-01 2023-02-28 6678299 bus:Director11 2022-03-01 2023-02-28 6678299 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-02-28 6678299 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-28 6678299 core:PlantMachinery 2022-02-28 6678299 core:PlantMachinery 2023-02-28 6678299 core:WithinOneYear 2023-02-28 6678299 core:WithinOneYear 2022-02-28 6678299 core:ShareCapital 2023-02-28 6678299 core:ShareCapital 2022-02-28 6678299 core:OtherReservesSubtotal 2023-02-28 6678299 core:OtherReservesSubtotal 2022-02-28 6678299 core:RetainedEarningsAccumulatedLosses 2023-02-28 6678299 core:RetainedEarningsAccumulatedLosses 2022-02-28 6678299 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-02-28 6678299 core:CostValuation core:Non-currentFinancialInstruments 2023-02-28 6678299 core:Non-currentFinancialInstruments 2023-02-28 6678299 core:Non-currentFinancialInstruments 2022-02-28 6678299 core:PlantMachinery 2022-02-28 6678299 bus:SmallEntities 2022-03-01 2023-02-28 6678299 bus:Audited 2022-03-01 2023-02-28 6678299 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 6678299 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 6678299 bus:FullAccounts 2022-03-01 2023-02-28 6678299 core:CustomerRelationships 2022-03-01 2023-02-28 6678299 core:OfficeEquipment 2022-03-01 2023-02-28 6678299 core:OfficeEquipment 2022-02-28
COMPANY REGISTRATION NUMBER: 6678299
Logistyx Technologies International Limited
Filleted Financial Statements
28 February 2023
Logistyx Technologies International Limited
Statement of Financial Position
28 February 2023
2023
2022
Note
Fixed assets
Intangible assets
5
41,238
89,276
Tangible assets
6
1,603
4,425
Investments
7
21,935
21,935
--------
---------
64,776
115,636
Current assets
Debtors
8
349,493
342,482
Cash at bank and in hand
1,228,585
582,076
------------
---------
1,578,078
924,558
Creditors: amounts falling due within one year
9
4,394,452
2,258,868
------------
------------
Net current liabilities
2,816,374
1,334,310
------------
------------
Total assets less current liabilities
( 2,751,598)
( 1,218,674)
------------
------------
Net liabilities
( 2,751,598)
( 1,218,674)
------------
------------
Capital and reserves
Called up share capital
268,212
268,212
Other reserves
189,434
189,434
Profit and loss account
( 3,209,244)
( 1,676,320)
------------
------------
Shareholders deficit
( 2,751,598)
( 1,218,674)
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 28 November 2023 , and are signed on behalf of the board by:
S G Pittman
Director
Company registration number: 6678299
Logistyx Technologies International Limited
Notes to the Financial Statements
Year ended 28 February 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in Euros, which is the functional currency of the entity.
Going concern
The Directors have considered a period of twelve months from the date of approval of the financial statements and believe that the company's financial statements and believe that the company's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's working capital requirements. Despite increased competition in the industry, the company has continued to control its costs and maximise its income.
Consolidation
The company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of a state other than the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 401 of the Companies Act 2006. Its financial statements are consolidated into the financial statements of E2open Parent Holdings Inc as at 28 February 2023 which can be obtained from 9600 Great Hills Trail - Suite 300E Austin Texas TX 78759.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Turnover received in respect of contracts is spread equally over the length of the contract. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Assets and liabilities in foreign currencies are denominated into euros at the raates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into euros at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Software development
-
20% straight line
Contract acquisition costs
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
33% straight line
Equipment
-
33% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Basic financial instruments are initially recognsied at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with chnages in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 3 ).
5. Intangible assets
Development costs
Cost
At 1 March 2022 and 28 February 2023
2,538,869
------------
Amortisation
At 1 March 2022
2,449,593
Charge for the year
48,038
------------
At 28 February 2023
2,497,631
------------
Carrying amount
At 28 February 2023
41,238
------------
At 28 February 2022
89,276
------------
6. Tangible assets
Plant and machinery
Equipment
Total
Cost
At 1 March 2022
79,097
21,356
100,453
Disposals
( 69,360)
( 21,356)
( 90,716)
--------
--------
---------
At 28 February 2023
9,737
9,737
--------
--------
---------
Depreciation
At 1 March 2022
74,681
21,347
96,028
Charge for the year
2,813
2,813
Disposals
( 69,360)
( 21,347)
( 90,707)
--------
--------
---------
At 28 February 2023
8,134
8,134
--------
--------
---------
Carrying amount
At 28 February 2023
1,603
1,603
--------
--------
---------
At 28 February 2022
4,416
9
4,425
--------
--------
---------
7. Investments
Shares in group undertakings
Cost
At 1 March 2022 and 28 February 2023
21,935
--------
Impairment
At 1 March 2022 and 28 February 2023
--------
Carrying amount
At 28 February 2023
21,935
--------
At 28 February 2022
21,935
--------
8. Debtors
2023
2022
Trade debtors
277,541
127,068
Prepayments and accrued income
480
4,314
Other debtors
71,472
211,100
---------
---------
349,493
342,482
---------
---------
9. Creditors: amounts falling due within one year
2023
2022
Trade creditors
562,696
1,063,085
Amounts owed to group undertakings and undertakings in which the company has a participating interest
3,090,149
494,663
Social security and other taxes
25,121
E2open
20,408
Other creditors
721,199
675,999
------------
------------
4,394,452
2,258,868
------------
------------
10. Summary audit opinion
The auditor's report dated 28 November 2023 was unqualified .
The senior statutory auditor was Matthew Lightfoot , for and on behalf of Burgess Hodgson LLP .
11. Related party transactions
The company has not disclosed transactions with other companies in the same group as consolidated accounts are prepared by the ultimate parent company E2open LLC.
12. Controlling party
Until 2 March 2022 the company is a subsididary of Logistyx Technologies LLC which is the ultimate parent company incorporated in the United States of America. On 2 March 2022 LogistyxTechnologies LLC was acquired by E2open LLC. From this date the ultimate parent company of Logistyx Technologies International Limited is E2open Parent Holdings Inc, a company incorporated in the United States of America. The ultimate parent company is E2open Parent Holdings Inc a listed company on the New York Stock Exchange. The registered office of E2open Parent Holdings Inc is 9600 Great Hills Trail - Suite 300E Austin Texas TX 78759. E2open Parent Holdings Inc prepares consolidated accounts, and includes the results of the company.