Company Registration No. 14654818 (England and Wales)
Loxa Ltd
Unaudited accounts
for the year ended 31 March 2025
Loxa Ltd
Unaudited accounts
Contents
Loxa Ltd
Company Information
for the year ended 31 March 2025
Directors
James Hamer
Victoria Hutchinson
Richard Smith
George Miller
Company Number
14654818 (England and Wales)
Registered Office
6 George Mathers Road
London
SE11 4RU
England
Loxa Ltd
Statement of financial position
as at 31 March 2025
Tangible assets
15,381
1,259
Cash at bank and in hand
599,964
2,714
Creditors: amounts falling due within one year
(315,878)
(200,419)
Net current assets/(liabilities)
746,343
(25,148)
Net assets/(liabilities)
761,724
(23,889)
Called up share capital
1,683
1,288
Share premium
2,064,675
479,595
Capital contribution reserve
25,861
-
Profit and loss account
(1,330,495)
(504,772)
Shareholders' funds
761,724
(23,889)
For the year ending 31 March 2025 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2025 and were signed on its behalf by
James Hamer
Director
Company Registration No. 14654818
Loxa Ltd
Notes to the Accounts
for the year ended 31 March 2025
Loxa Ltd is a private company, limited by shares, registered in England and Wales, registration number 14654818. The registered office is 6 George Mathers Road, London, SE11 4RU, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, net of discounts, rebates, value added taxes and other sales taxes. Turnover includes revenue earned from the rendering of services.
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by the contract date.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs
of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Fixtures & fittings
33% straight line
Computer equipment
33% straight line
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items in other comprehensive income or directly in equity.
Current taxation is recognised at the amount of tax payable using the tax rates and laws that have been enacted by the Balance Sheet date.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Loxa Ltd
Notes to the Accounts
for the year ended 31 March 2025
Expenditure on research and development is written off in the year in which it is incurred.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Share-Based Payments - EMI Share Option Scheme
The company operates an approved Enterprise Management Incentive (EMI) share option scheme for qualifying employees. In accordance with FRS 102, the cost of equity-settled share-based payments is measured at the fair value of the equity instruments at the grant date. The fair value is determined using an appropriate option pricing model, taking into account the terms and conditions under which the options are granted.
The total fair value of the options is recognised as an expense in the profit and loss account over the vesting period, based on the company’s estimate of the number of options that are expected to vest. The corresponding credit is recognised directly in equity in a share-based payment reserve.
No expense is recognised for options that do not ultimately vest, except where vesting is conditional upon a market condition which is treated as vesting irrespective of whether the condition is satisfied, provided all other performance or service conditions are met.
Modifications to the terms of an option are accounted for as a new grant if they increase the fair value of the option. The company reassesses its estimates of the number of options expected to vest at each reporting date.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable
future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Loxa Ltd
Notes to the Accounts
for the year ended 31 March 2025
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Tangible fixed assets
Total
Allotted, called up and fully paid:
16,651,669 Ordinary shares (fully paid) of £0.0001 each
1,665.16
1,287.96
174,884 Ordinary shares (unpaid) of £0.0001 each
17.48
-
Shares issued during the period:
3,772,069 Ordinary shares (fully paid) of £0.0001 each
377.20
174,884 Ordinary shares (unpaid) of £0.0001 each
17.48
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Capital contribution reserve
Due to software limitations, the capital contribution reserve includes £25,000 for payments in advance of shares issued and £861 for the share-based payment reserve.
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Post balance sheet events
The company name was changed from Bolt Warranty Ltd to Loxa Ltd on 11 April 2025.
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Average number of employees
During the year the average number of employees was 8 (2024: 3).