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REGISTERED NUMBER: 06262208 (England and Wales)















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: S Bennett





Registered office: Suite 2 First Floor
10 Temple Back
Bristol
United Kingdom
BS1 6FL





Registered number: 06262208 (England and Wales)





Auditors: Zome Audit Limited (Statutory Auditor)
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 1,157,847 1,072,078
Cash at bank 549,448 539,355
1,707,295 1,611,433
CREDITORS
Amounts falling due within one year 5 (316,884 ) (301,168 )
NET CURRENT ASSETS 1,390,411 1,310,265
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,390,411

1,310,265

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,390,311 1,310,165
SHAREHOLDERS' FUNDS 1,390,411 1,310,265

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 director and authorised for issue on 19 August 2025 and were signed by:





S Bennett - Director


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 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.

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 11 (2023 - 11 ) .

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 1,155,031 1,066,782
VAT 2,816 5,296
1,157,847 1,072,078

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 49,901 49,910
Tax 26,692 43,234
Social security and other taxes 73,806 53,671
Accrued expenses 166,485 154,353
316,884 301,168

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

The Report of the auditors was unqualified.

Roy Davis (Senior Statutory Auditor)
for and on behalf of Zome Audit Limited (Statutory Auditor)

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.