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REGISTERED NUMBER: 12665410 (England and Wales)













FINANCIAL STATEMENTS

FOR THE PERIOD

1 JANUARY 2024 TO 29 DECEMBER 2024

FOR

AGILEBITS UK LIMITED

AGILEBITS UK LIMITED (REGISTERED NUMBER: 12665410)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2024 TO 29 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AGILEBITS UK LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 JANUARY 2024 TO 29 DECEMBER 2024







DIRECTORS: G N Henry
S Mustafic





REGISTERED OFFICE: Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG





REGISTERED NUMBER: 12665410 (England and Wales)





AUDITORS: Oury Clark Chartered Accountants
Statutory Auditors
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

AGILEBITS UK LIMITED (REGISTERED NUMBER: 12665410)

BALANCE SHEET
29 DECEMBER 2024

29.12.24 31.12.23
Notes $    $    $    $   
FIXED ASSETS
Tangible assets 4 168,019 112,886

CURRENT ASSETS
Debtors 5 473,031 1,549,044
Cash at bank 23,327,915 163,883
23,800,946 1,712,927
CREDITORS
Amounts falling due within one year 6 21,865,522 843,091
NET CURRENT ASSETS 1,935,424 869,836
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,103,443

982,722

PROVISIONS FOR LIABILITIES 41,660 28,222
NET ASSETS 2,061,783 954,500

CAPITAL AND RESERVES
Called up share capital 7 1 1
Capital contribution reserve 8 1,553,216 949,351
Retained earnings 8 508,566 5,148
SHAREHOLDERS' FUNDS 2,061,783 954,500

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 August 2025 and were signed on its behalf by:





G N Henry - Director


AGILEBITS UK LIMITED (REGISTERED NUMBER: 12665410)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2024 TO 29 DECEMBER 2024

1. STATUTORY INFORMATION

AgileBits UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The Company has obtained a letter of support from the immediate parent Company. The directors of the parent Company have provided a commitment to provide any financial support which may be necessary in order for the Company to meet liabilities, as they fall due, for a period in excess of 12 months and one day from the signing of the audit report. As a result of this commitment the directors have continued to adopt the going concern basis in preparing these financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is calculated on a cost plus basis, and is recharged to a fellow group undertaking. The revenue is recognised when the relevant costs have been incurred.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - Straight line over 3 years

Plant and machinery in the current period relates entirely to computer equipment.

The computer equipment is initially recognised at cost and is distributed to an employee. Depreciation begins in the month of its distribution.

Financial instruments
Basic Financial Instruments as covered by Section 11 of FRS102 are measured at amortised cost. The Company does not have any Other Financial Instruments as covered by Section 12 of FRS102

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


AGILEBITS UK LIMITED (REGISTERED NUMBER: 12665410)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2024 TO 29 DECEMBER 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
The functional and presentational currency of the Company is United States Dollar (USD).

Assets and liabilities in other currencies are translated into USD at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into USD at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Share-based payments
Equity-settled transactions are awards of shares, or options over shares, that are provided to employees in exchange for the rendering of services.

The cost of equity-settled transactions is measured at fair value on grant date. Fair value is independently determined using the Black-Scholes option pricing model that takes into account the exercise price, the term of the option, the impact of dilution, the share price at grant date and expected price volatility of the underlying share, the expected dividend yield and the risk free interest rate for the term of the option, together with non-vesting conditions that do not determine whether the Company receives the services that entitle the employees to receive payment. No account is taken of any other vesting conditions.

The cost of equity-settled transactions is recognised as an expense with a corresponding increase in equity over the vesting period. The cumulative charge to profit or loss is calculated based on the grant date fair value of the award, the best estimate of the number of awards that are likely to vest and the expired portion of the vesting period. The amount recognised in profit or loss for the period is the cumulative amount calculated at each reporting date less amounts already recognised in previous periods.

The share based payment expense is recognised on a reasonable allocation of the group expense.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 90 (2023 - 78 ) .

AGILEBITS UK LIMITED (REGISTERED NUMBER: 12665410)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2024 TO 29 DECEMBER 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
$   
COST
At 1 January 2024 307,342
Additions 149,172
Disposals (93,130 )
At 29 December 2024 363,384
DEPRECIATION
At 1 January 2024 194,456
Charge for period 93,718
Eliminated on disposal (92,809 )
At 29 December 2024 195,365
NET BOOK VALUE
At 29 December 2024 168,019
At 31 December 2023 112,886

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.12.24 31.12.23
$    $   
Amounts owed by group undertakings - 1,209,541
Other debtors 473,031 339,503
473,031 1,549,044

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.12.24 31.12.23
$    $   
Bank loans and overdrafts - 853
Trade creditors 98,742 3,534
Amounts owed to group undertakings 20,556,775 46,733
Taxation and social security 481,171 385,674
Other creditors & accruals 728,834 406,297
21,865,522 843,091

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.12.24 31.12.23
value: $    $   
1 Ordinary $1.26 1 1

AGILEBITS UK LIMITED (REGISTERED NUMBER: 12665410)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2024 TO 29 DECEMBER 2024

7. CALLED UP SHARE CAPITAL - continued

The nominal value of share capital is £1 GBP. At the time of original translation, this was equal to $1.26 (USD) as denoted above. There is one ordinary share in issue.

8. RESERVES
Capital
Retained contribution
earnings reserve Totals
$    $    $   

At 1 January 2024 5,148 949,351 954,499
Profit for the period 503,418 503,418
Capital contribution reserve - 603,865 603,865
At 29 December 2024 508,566 1,553,216 2,061,782

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Amy Enslin (Senior Statutory Auditor)
for and on behalf of Oury Clark Chartered Accountants

We would like to draw your attention to the following statement contained within our audit report as included within the full financial statements:-
"Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed."

AGILEBITS UK LIMITED (REGISTERED NUMBER: 12665410)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2024 TO 29 DECEMBER 2024

10. SHARE-BASED PAYMENT TRANSACTIONS

The Company has issued equity settled share options to its employees. The equity offered is that of the parent company, AgileBits Inc. These options all vest over a period of 4 years and expire after 10 years from the vesting commencement date.

The following table summarises the equity settled share options with employees in the period:


Item

Number
Weighted average
exercise price ($

)
Outstanding at the beginning of the period2,822,9950.97
Granted during the year1,077,5162.53
Forfeited/cancelled during the period(435,511)1.48
Exercised during the period(11,645)0.87
Expired during the period--
Outstanding at the end of the period3,453,3551.39

Exercisable at the end of the period1,778,0960.78

The share based payment expense is recognised on a reasonable allocation of the group expense. The charge recognised in the year was $603,864 (2023:$366,789).

Further details over how the fair value of the goods or services received are measured are given in note 2 to the financial statements.

The Company will only be liable to employer's national insurance contributions should the options be considered readily convertible at the point of exercise in future. The timing and value of this is currently not known.

11. PARENT COMPANY

The parent company is AgileBits Inc, who is incorporated in Canada. AgileBits Inc is the smallest entity preparing group financial statements which includes the results of the Company, but are not publicly available. Their registered office address is 4711 Yonge St, 10th Floor, Toronto, Ontario, M2N 6K8, Canada.

There is no ultimate controlling party.