| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| LYTX EUROPE LIMITED |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| LYTX EUROPE LIMITED |
| LYTX EUROPE LIMITED (REGISTERED NUMBER: 06262208) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| Page |
| Company information | 1 |
| Balance sheet | 2 |
| Notes to the financial statements | 3 |
| LYTX EUROPE LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| Director: |
| Registered office: |
| Registered number: |
| Auditors: |
| 5th Floor |
| 111 Charterhouse Street |
| London |
| EC1M 6AW |
| LYTX EUROPE LIMITED (REGISTERED NUMBER: 06262208) |
| BALANCE SHEET |
| 31 DECEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the director and authorised for issue on |
| LYTX EUROPE LIMITED (REGISTERED NUMBER: 06262208) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Lytx Europe Limited is a |
| The Company’s functional and presentational currency is pound sterling (GBP) and the financial statements have been rounded to the nearest pound (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
| Turnover |
| Turnover represents amounts charged to the Company's parent under a sales and marketing agreement, excluding value added tax and direct sales to customers. Turnover is recognised when chargeable costs are incurred 'and recognised on an accruals basis. |
| The Company's turnover consists of transactions with Lytx, Inc., under a cost plus agreement, and direct sales to customers. |
| Financial instruments |
| The Company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
| Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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. |
| Taxation |
| Taxation for the year comprises current 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. |
| Foreign currencies |
| 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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 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. |
| Short-term debtors and creditors |
| 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 of debtors are recognised in the Statement of profit and loss in administrative expenses. |
| Cash and cash equivalents |
| Cash and cash equivalents in the balance sheet comprise cash at bank and in hand and short-term deposits. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| LYTX EUROPE LIMITED (REGISTERED NUMBER: 06262208) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Amounts owed by group undertakings |
| VAT |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Accrued expenses |
| 6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the auditors was unqualified. |
| for and on behalf of |
| 7. | RELATED PARTY DISCLOSURES |
| During the financial period, amounts recharged to the parent entity under the terms of the sales and marketing agreement amounted to £2,272,201 (2023 - £1,856,757). At the year end, £1,155,031 was owed by the parent to the Company (2023 - £1,066,782). |
| 8. | PENSION COMMITMENTS |
| The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. |
| The pension cost charge represents contributions payable by the Company to the fund and amounted to £34,873 (2023 - £32,269). |
| 9. | ULTIMATE PARENT COMPANY AND CONTROLLING PARTY |
| The immediate parent undertaking of the company is Lytx, Inc. a company incorporated in United States of America. |
| The ultimate parent company is Padres Holdings, Inc., a company incorporated in United States of America. The registered office is based at 9785 Towne Centre Dr, San Diego, CA 92121 USA. |