3 22 November 2024 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2024 - FRS102_2024 2,219,097 26,048 2,193,049 2,183,053 20,413 25,625 2,177,841 15,208 36,044 8,511 8,511 7,110 7,110 1,401 19,172 19,172 19,172 xbrli:pure xbrli:shares iso4217:GBP 06678299 2023-03-01 2024-02-29 06678299 2024-02-29 06678299 2023-02-28 06678299 2022-03-01 2023-02-28 06678299 2023-02-28 06678299 2022-02-28 06678299 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-01 2024-02-29 06678299 core:PlantMachinery 2023-03-01 2024-02-29 06678299 bus:Director3 2023-03-01 2024-02-29 06678299 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-28 06678299 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-02-29 06678299 core:PlantMachinery 2023-02-28 06678299 core:WithinOneYear 2024-02-29 06678299 core:WithinOneYear 2023-02-28 06678299 core:ShareCapital 2024-02-29 06678299 core:ShareCapital 2023-02-28 06678299 core:OtherReservesSubtotal 2024-02-29 06678299 core:OtherReservesSubtotal 2023-02-28 06678299 core:RetainedEarningsAccumulatedLosses 2024-02-29 06678299 core:RetainedEarningsAccumulatedLosses 2023-02-28 06678299 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-28 06678299 core:CostValuation core:Non-currentFinancialInstruments 2024-02-29 06678299 core:Non-currentFinancialInstruments 2024-02-29 06678299 core:Non-currentFinancialInstruments 2023-02-28 06678299 core:PlantMachinery 2023-02-28 06678299 bus:Director1 2023-03-01 2024-02-29 06678299 bus:SmallEntities 2023-03-01 2024-02-29 06678299 bus:Audited 2023-03-01 2024-02-29 06678299 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 06678299 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 06678299 bus:FullAccounts 2023-03-01 2024-02-29 06678299 core:OfficeEquipment 2023-03-01 2024-02-29 06678299 core:AllAssociates 2023-03-01 2024-02-29
COMPANY REGISTRATION NUMBER: 06678299
Logistyx Technologies International Limited
Filleted Financial Statements
29 February 2024
Logistyx Technologies International Limited
Financial Statements
Year ended 29 February 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Logistyx Technologies International Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
15,208
36,044
Tangible assets
6
1,401
Investments
7
19,172
19,172
--------
--------
34,380
56,617
Current assets
Debtors
8
18,123,131
305,475
Cash at bank and in hand
517,934
1,073,845
-------------
------------
18,641,065
1,379,320
Creditors: amounts falling due within one year
9
19,944,568
3,840,969
-------------
------------
Net current liabilities
1,303,503
2,461,649
------------
------------
Total assets less current liabilities
( 1,269,123)
( 2,405,032)
------------
------------
Net liabilities
( 1,269,123)
( 2,405,032)
------------
------------
Capital and reserves
Called up share capital
216,300
216,300
Other reserves
162,604
165,575
Profit and loss account
( 1,648,027)
( 2,786,907)
------------
------------
Shareholders deficit
( 1,269,123)
( 2,405,032)
------------
------------
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 22 November 2024 , and are signed on behalf of the board by:
S G Pittman
Secretary
Company registration number: 06678299
Logistyx Technologies International Limited
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Blue Tower, 14th Floor, Mediacityuk, Salford Quays, M50 2ST, 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 sterling, 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 29 February 2024 which can be obtained from 9600 Great Hills Trail - uite 300E Austin Tecas TX78759.
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 lnght 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. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
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:
Development 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 and 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
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
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 3 (2023: 4 ).
5. Intangible assets
Development costs
£
Cost
At 1 March 2023
2,219,097
Additions
Revaluations
( 26,048)
------------
At 29 February 2024
2,193,049
------------
Amortisation
At 1 March 2023
2,183,053
Charge for the year
20,413
Revaluations
( 25,625)
------------
At 29 February 2024
2,177,841
------------
Carrying amount
At 29 February 2024
15,208
------------
At 28 February 2023
36,044
------------
6. Tangible assets
Plant and machinery
£
Cost
At 1 March 2023
8,511
Disposals
( 8,511)
-------
At 29 February 2024
-------
Depreciation
At 1 March 2023
7,110
Disposals
( 7,110)
-------
At 29 February 2024
-------
Carrying amount
At 29 February 2024
-------
At 28 February 2023
1,401
-------
7. Investments
Shares in group undertakings
£
Cost
At 1 March 2023 and 29 February 2024
19,172
--------
Impairment
At 1 March 2023 and 29 February 2024
--------
Carrying amount
At 29 February 2024
19,172
--------
At 28 February 2023
19,172
--------
8. Debtors
2024
2023
£
£
Trade debtors
217,220
242,585
Amounts owed by group undertakings
17,502,034
Prepayments and accrued income
38,181
420
Other debtors
365,696
62,470
-------------
---------
18,123,131
305,475
-------------
---------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,151,947
491,824
Amounts owed to group undertakings and undertakings in which the company has a participating interest
18,307,962
2,700,943
E2open
17,280
17,838
Other creditors
467,379
630,364
-------------
------------
19,944,568
3,840,969
-------------
------------
10. Summary audit opinion
The auditor's report dated 22 November 2024 was unqualified .
The senior statutory auditor was Andrew Collyer , 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
The ultimate parent company of Logistyx Technologies International Limited is E2open Parent Holdings Inc, a listed commpany on the New York Stock Exchange. The registed office of E2open Parent Holdings Inc is 9600 Great Hills Trail - Suite 300E Austin Texas TX78759 . E2open Parent Holdings Inc prepares consolidated accounts, and includes the results of the company.