ACCOUNTS - Final Accounts

Registered number: 14083786

LHYFE UK LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

LHYFE UK LTD

COMPANY INFORMATION

Director	M. L. L. Guesne


Registered number	14083786


Registered office	3 More London Riverside
	London
	SE1 2AQ


Independent auditors	Wilder Coe Limited
	Chartered Accountants & Statutory Auditors
	1st Floor Sackville House
	143-149 Fenchurch Street
	London
	EC3M 6BL

LHYFE UK LTD

CONTENTS

	Page
Balance Sheet	1
Notes to the Financial Statements	2 - 6

LHYFE UK LTD

REGISTERED NUMBER: 14083786

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	4		7,688		5,704
Current assets
Debtors	5	416,623		164,804
Cash at bank and in hand		108,128		84,499
		524,751		249,303
Creditors: amounts falling due within one year	6	(2,457,724)		(1,568,082)
Net current liabilities			(1,932,973)		(1,318,779)
Net liabilities			(1,925,285)		(1,313,075)

Capital and reserves
Allotted, called up and fully paid share capital	1	1
Profit and loss account	(1,925,286)	(1,313,076)
Equity shareholder's deficit	(1,925,285)	(1,313,075)

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 income and retained earnings 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
24 September 2025.

M. L. L. Guesne

Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

LHYFE UK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Lhyfe UK Ltd (company number: 14083786) having its registered office and principal place of business at 3 More London Riverside, London, SE1 2AQ, is a private limited company incorporated in England and Wales.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Statement of Cash Flows

The Company has taken advantage of the exemption in Financial Reporting Standard 102, Section 1A.7 from the requirement to provide a Statement of Cash Flows on the grounds that it is a small company.

2.3

Going concern

The financial statements have been prepared on the going concern basis, despite net liabilities of £1,925,285 (2023: £1,313,075) and incurring a loss of £612,210 (2023: £1,072,934) during the year ended 31 December 2024.
The directors have been provided with an undertaking from the Company's shareholders, that they will for at least 12 months form the date of approval of these financial statements, continue to make available such funds as are needed by the Company and, in particular, will not seek repayment of the amounts currently made available. This should enable the Company to continue in operational existence for the foreseeable future by meeting its liabilities as they fall due for payment.

2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 2

LHYFE UK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.6

Interest income

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

2.7

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

LHYFE UK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.9

Taxation

Tax is recognised in the Statement of Income and Retained Earnings.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.10

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:

Office equipment

25%

straight-line

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 the Statement of Income and Retained Earnings.

2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment.

2.12

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.

2.13

Creditors

Short-term creditors are measured at the transaction price.

Page 4

LHYFE UK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 4).

4.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 January 2024	9,663
	Additions	4,912
	At 31 December 2024	14,575
	Depreciation
	At 1 January 2024	3,959
	Charge for the year	2,928
	At 31 December 2024	6,887
	Net book value
	At 31 December 2024	7,688
	At 31 December 2023	5,704

Debtors

					2024	2023
					£	£

Due within one year
Trade debtors	398,460	-
Other debtors	5,356	60,606
Prepayments and accrued income	12,807	104,198
	416,623	164,804

Page 5

LHYFE UK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	77,497	102,158
Amounts owed to group undertakings	2,326,384	1,368,885
Other taxation and social security	20,380	-
Accruals and deferred income	33,463	97,039
	2,457,724	1,568,082

7.	Related party transactions
	The company has taken advantage of the exemption under paragraph 33.1A from the provisions of FRS 102, on the grounds that at 31 December 2024 and 31 December 2023 it was a wholly owned subsidiary. There are no other related party transactions.

8.	Controlling party

The immediate and ultimate controlling party as at 31 December 2024 and 31 December 2023 is Lhyfe SA, a company incorporated in France.

9.	Auditors' information

The Company was subject to an audit for the year ended 31 December 2024. The audit report was issued with an unqualified opinion and signed on 29 September 2025 by Chris Gent BA FCA (Senior Statutory Auditor) on behalf of Wilder Coe Ltd.

Page 6