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Registration number: 12306818

Blinx Technology Ltd
Unaudited Filleted Financial Statements
for the Year Ended 31 December 2024

Blinx Technology Ltd

Contents

Company Information | 1
Directors' Report | 2
Balance Sheet | 3
Notes to the Unaudited Financial Statements | 4 to 7

Blinx Technology Ltd

Company Information

Directors | Mr Darren Nahshon Abbabil Mr Matthew Oliver Carman

Registered office | Blinx Technology Ltd 5th Floor 2 Portman Street London W1H 6DU

Blinx Technology Ltd

Directors' Report for the Year Ended 31 December 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Incorporation

The company was incorporated on 11 November 2019.

Directors of the company

The directors who held office during the year were as follows:

Mr Darren Nahshon Abbabil

Mr Richard David Buckley - Director (ceased 30 June 2025)

The following director was appointed after the year end:

Mr Matthew Oliver Carman (appointed 3 September 2025)

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 15 September 2025 and signed on its behalf by:

......................................... Mr Darren Nahshon Abbabil Director

Blinx Technology Ltd

(Registration number: 12306818)
Balance Sheet as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 4 | 355,480 | 191,633
Current assets |  |  |
Debtors | 5 | 620,943 | 1,526,018
Cash at bank and in hand |  | 3,610,447 | 383,458
|  | 4,231,390 | 1,909,476
Creditors: Amounts falling due within one year | 6 | (3,111,296) | (1,097,856)
Net current assets |  | 1,120,094 | 811,620
Total assets less current liabilities |  | 1,475,574 | 1,003,253
Creditors: Amounts falling due after more than one year | 6 | (2,500,000) | (2,500,000)
Net liabilities |  | (1,024,426) | (1,496,747)
Capital and reserves |  |  |
Retained earnings |  | (1,024,426) | (1,496,747)
Shareholders' deficit |  | (1,024,426) | (1,496,747)

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account and Directors' Report.

Approved and authorised by the Board on 15 September 2025 and signed on its behalf by:

......................................... Mr Darren Nahshon Abbabil Director

Blinx Technology Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1 | General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Blinx Technology Ltd
5th Floor
2 Portman Street
London
W1H 6DU

These financial statements were authorised for issue by the Board on 15 September 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Blinx Technology Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 26 (2023 - 23).

Blinx Technology Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4 | Tangible assets

| Furniture, fittings and equipment £ | Total £
Cost or valuation
At 1 January 2024 | 285,423 | 285,423
Additions | 303,285 | 303,285
At 31 December 2024 | 588,708 | 588,708
Depreciation
At 1 January 2024 | 93,790 | 93,790
Charge for the year | 139,438 | 139,438
At 31 December 2024 | 233,228 | 233,228
Carrying amount
At 31 December 2024 | 355,480 | 355,480
At 31 December 2023 | 191,633 | 191,633

5 | Debtors

| 2024 £ | 2023 £
Trade debtors | - | 1,017,303
Prepayments | 222,358 | 227,369
Other debtors | 398,585 | 281,346
| 620,943 | 1,526,018

6 | Creditors

Creditors: amounts falling due within one year

| 2024 £ | 2023 £
Due within one year |  |
Trade creditors | 1,767,522 | 4,300
Taxation and social security | 75,778 | 70,228
Accruals and deferred income | 410,730 | 413,662
Other creditors | 857,266 | 609,666
| 3,111,296 | 1,097,856

Creditors: amounts falling due after more than one year

Blinx Technology Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

| Note | 2024 £ | 2023 £
Due after one year |  |  |
Loans and borrowings | 8 | 2,500,000 | 2,500,000

7 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | £ | No. | £
Ord Shares of £1 each | 1 | 1 | 1 | 1

8 | Loans and borrowings

Non-current loans and borrowings

| 2024 £ | 2023 £
Other borrowings | 2,500,000 | 2,500,000

9 | Parent and ultimate parent undertaking

The company's immediate parent is Dattwil Holding S.A., incorporated in Liberia.
The ultimate parent is Bex International Limited, incorporated in Liberia.