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Registered number: 15684453 LIBRECO UK LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE PERIOD ENDED 31 DECEMBER 2024
LIBRECO UK LIMITED REGISTERED NUMBER: 15684453 BALANCE SHEET AS AT 31 DECEMBER 2024
|  | 2024
Note |  | $
Fixed assets |  |  |
Tangible assets | 4 |  | 7,081
|  |  | 7,081
Current assets |  |  |
Debtors: amounts falling due within one year | 5 | 124,735 |
Cash at bank and in hand | 6 | 150,472 |
|  | 275,207 |
Creditors: amounts falling due within one year | 7 | (1,533,753) |
Net current (liabilities)/assets |  |  | (1,258,546)
Total assets less current liabilities |  |  | (1,251,465)
Net (liabilities)/assets |  |  | (1,251,465)
Capital and reserves |  |  |
Called up share capital |  |  | 1
Foreign exchange reserve |  |  | 25,757
Profit and loss account |  |  | (1,277,223)
|  |  | (1,251,465)
The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006. 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. The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 September 2025. Page 1
LIBRECO UK LIMITED REGISTERED NUMBER: 15684453 BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024
Avtar Singh Sehra
Director
The notes on pages 3 to 7 form part of these financial statements. Page 2
LIBRECO UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
1. | General information
LibreCo UK Limited (the 'Company') is a limited company incorporated in the United Kingdom. The Company's registered office is at 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH. The Company's principle activity is information technology consultancy services. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. The Company's functional currency is GBP. This differs from the presentational currency which is USD for alignment with the Group's reporting requirements. Assets and liabilities are translated at the exchange rates prevailing at the reporting date. Income and expense items are translated at the average exchange rates applicable during the year. Equity balances are translated at historical exchange rates. Resulting translation differences are recognised in Other Comprehensive Income and accumulated within the Translation Reserve. The following principal accounting policies have been applied:
| 2.2 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Computer equipment | - | 33% |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.3 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. Page 3
LIBRECO UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.4 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.5 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 4
LIBRECO UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.6 | Financial liabilities
Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form. Financial liabilities within the scope of IAS 39 are initially classified as financial liabilities at fair value through profit or loss, loans and borrowings, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The Group determines the classification of its financial liabilities at initial recognition. All financial liabilities are recognised initially at fair value and in the case of loans and borrowings, plus directly attributable transaction costs. Subsequently, the measurement of financial liabilities depends on their classification as follows: Financial liabilities at fair value through profit or loss Financial liabilities at fair value through profit or loss includes financial liabilities held for trading and financial liabilities designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if they are acquired for the purpose of repurchasing in the near term. Derivatives, including separately embedded derivatives are also classified as held for trading unless they are designated as effective hedging instruments. Gains or losses on liabilities held for trading are recognised in profit or loss. Interest bearing loans and borrowings Obligations for loans and borrowings are recognised when the Group becomes party to the related contracts and are measured initially at the fair value of consideration received less directly attributable transaction costs. After initial recognition, interest bearing loans and borrowings are subsequently measured at amortised cost using the effective interest method. Gains and losses arising on the repurchase, settlement or otherwise cancellation of liabilities are recognised respectively in finance revenue and finance cost. Derecognition of financial liabilities A liability is derecognised when the contract that gives rise to it is settled, sold, cancelled or expires. Where an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such as an exchange or modification, this is treated as a derecognition of the original liability, such that the difference in the respective carrying amounts together with any costs or fees incurred are recognised in profit or loss. Page 5
LIBRECO UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
3. | Employees
| The average monthly number of employees, including the director, during the period was as follows:
|  |  | 31 December
|  |  | 2024
|  |  | No.
|  | Employees | 3
4. | Tangible fixed assets
|  | Computer equipment
|  | $
| Cost or valuation |
| Additions | 8,149
| At 31 December 2024 | 8,149
| Depreciation |
| Charge for the year | 1,067
| At 31 December 2024 | 1,067
| Net book value |
| At 31 December 2024 | 7,082
5. | Debtors
|  |  |  |  | 2024
|  |  |  |  | $
| Amounts owed by group entities | 132
| Other debtors | 120,100
| Called up share capital not paid | 1
| Prepayments and accrued income | 4,502
|  | 124,735
Page 6
LIBRECO UK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
6. | Cash and cash equivalents
|  |  |  |  | 2024
|  |  |  |  | $
| Cash at bank and in hand | 150,472
|  | 150,472
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024
|  |  |  |  | $
| Trade creditors | 147,006
| Amounts owed to group entities | 1,358,988
| Other taxation and social security | 27,759
|  | 1,533,753
Page 7