Company registration number 10100294 (England and Wales)
CATALYX MARKETING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
CATALYX MARKETING LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 10
CATALYX MARKETING LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
3
13,350
15,873
Current assets
Debtors
4
332,230
292,527
Cash at bank and in hand
64,860
62,056
397,090
354,583
Creditors: amounts falling due within one year
5
(743,592)
(877,204)
Net current liabilities
(346,502)
(522,621)
Net liabilities
(333,152)
(506,748)
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
(333,252)
(506,848)
Total equity
(333,152)
(506,748)

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 11 April 2025
Mr G M White
Director
Company registration number 10100294 (England and Wales)
CATALYX MARKETING LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
As restated for the period ended 31 December 2023:
Balance at 1 January 2023
100
(77,604)
(77,504)
Year ended 31 December 2023:
Loss and total comprehensive income
-
(429,244)
(429,244)
Balance at 31 December 2023
100
(506,848)
(506,748)
Year ended 31 December 2024:
Profit and total comprehensive income
-
173,596
173,596
Balance at 31 December 2024
100
(333,252)
(333,152)
CATALYX MARKETING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Catalyx Marketing Limited is a private company limited by shares incorporated in England and Wales. The registered office is 60 Blean Common, Blean, Canterbury, Kent, England, CT2 9EY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

In light of the company's negative balance sheet position as at true31 December 2024 , the directors have assessed the company's ability to continue as a going concern. The directors acknowledge that the company is reliant on the continued financial support of its parent company, Catalyx SA. The parent company has confirmed its commitment to provide the necessary financial support to the company for at least 12 months from the date of approval of these financial statements.

 

The directors further note that the parent company has a positive reserves position and adequate funding, enabling it to offer this support.

 

Based on this assurance, along with the company’s forecasts and projections, which take into account possible changes in trading performance, the directors have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. For this reason, the financial statements have been prepared on a going concern basis.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

CATALYX MARKETING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.4
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
30% on net book value
Computers
33.33% on net book value

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

CATALYX MARKETING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

CATALYX MARKETING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
30
35
CATALYX MARKETING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 January 2024
3,890
36,410
40,300
Additions
-
0
3,014
3,014
At 31 December 2024
3,890
39,424
43,314
Depreciation and impairment
At 1 January 2024
2,216
22,211
24,427
Depreciation charged in the year
502
5,035
5,537
At 31 December 2024
2,718
27,246
29,964
Carrying amount
At 31 December 2024
1,172
12,178
13,350
At 31 December 2023
1,674
14,199
15,873
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
221,011
198,184
Corporation tax recoverable
-
0
52,501
Other debtors
11,641
15,520
Prepayments and accrued income
99,578
26,322
332,230
292,527
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
62,750
68,104
Amounts owed to group undertakings
275,574
306,160
Corporation tax
2,088
1,840
Other taxation and social security
100,425
107,822
Other creditors
19,413
14,021
Accruals and deferred income
283,342
379,257
743,592
877,204
CATALYX MARKETING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
7
Directors' transactions

During the year the company has made a loan to the director, this loan is unsecured, interest free and repayable upon demand.

8
Parent company

The ultimate controlling party is Catalyx SA.

9
Prior period adjustment

The company has restated its financial statements for the year ended 31 December 2023, due to two key adjustments:

 

Restatement of Revenue Recognition:

The company has revised its revenue recognition for certain transactions following the discovery of additional information that suggests the conditions for recognising revenue were apparent at the 2023 year-end. This information was not available at the time the original financial statements were prepared. The restatement reflects the revised timing of revenue recognition in accordance with the relevant accounting standards. This adjustment has impacted both the 2023 financial year and prior comparative periods, as detailed in the restated financial statements.

 

Restatement of Development Costs Capitalisation:

The company has also restated its application of the capitalisation policy for development costs. It was determined that development costs were incorrectly capitalised in the previous period, contrary to the company's established accounting policy under FRS 102. The restatement reflects the correct application of the policy, and certain previously capitalised development costs have been expensed in the period in which they were incurred. This adjustment has been made to ensure that the financial statements accurately reflect the company’s expenditure and comply with the relevant accounting principles.

 

Nature and Impact of the Restatements:

Both adjustments result in a change in reserves of £158,016. These adjustments impact the reported revenue, expenses, and reserves for the 2023 financial year. The changes in reserves reflect the net effect of the revised revenue recognition and the correction to the development costs capitalisation policy.

 

Revised Figures:

The financial statements have been updated to reflect these changes, including the adjustment to reserves of £158,016. The restated figures are presented for the 2023 financial year, and any prior period figures have been adjusted where necessary to provide a consistent comparison.

 

These restatements ensure that the financial statements now accurately reflect the company’s financial position and performance as of the reporting date.

Changes to the balance sheet
As previously reported
Adjustment
As restated at 31 Dec 2023
£
£
£
Fixed assets
Other intangibles
8,334
(8,334)
-
CATALYX MARKETING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
9
Prior period adjustment
As previously reported
Adjustment
As restated at 31 Dec 2023
£
£
£
(Continued)
- 9 -
Current assets
Debtors due within one year
392,869
(100,342)
292,527
Creditors due within one year
Other creditors
(718,201)
(49,341)
(767,542)
Net assets
(348,731)
(158,017)
(506,748)
Capital and reserves
Profit and loss reserves
(348,831)
(158,017)
(506,848)
Changes to the profit and loss account
As previously reported
Adjustment
As restated
Period ended 31 December 2023
£
£
£
Turnover
3,194,979
(149,683)
3,045,296
Administrative expenses
(3,493,344)
(8,334)
(3,501,678)
Loss for the financial period
(271,227)
(158,017)
(429,244)
Reconciliation of changes in equity
1 January
31 December
2023
2023
£
£
Adjustments to prior year
Accrued Income
-
(100,342)
Deferred Income
-
(49,341)
Development costs
-
(8,334)
Total adjustments
-
(158,017)
Equity as previously reported
(77,504)
(348,731)
Equity as adjusted
(77,504)
(506,748)
Analysis of the effect upon equity
Profit and loss reserves
-
(158,017)
CATALYX MARKETING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
9
Prior period adjustment
(Continued)
- 10 -
Reconciliation of changes in loss for the previous financial period
2023
£
Adjustments to prior year
Sales
(149,683)
Administrative expenses
(8,334)
Total adjustments
(158,017)
Loss as previously reported
(271,227)
Loss as adjusted
(429,244)
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