REGISTERED NUMBER: 10942148 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

WILDIX UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr G Dixon

Mr S Osler

Mr R Loakes

Mr I K Rowan

REGISTERED OFFICE:

Rolt House

St. Nicholas Street

Canal Basin

Coventry

West Midlands

CV1 4LY

REGISTERED NUMBER:

10942148 (England and Wales)

AUDITORS:

TGFP

Chartered Accountants & Statutory Auditors

Fulford House

Newbold Terrace

Leamington Spa

Warwickshire

CV32 4EA

FIXED ASSETS

Tangible assets

4

20,033

16,179

CURRENT ASSETS

Debtors

5

1,100,724

852,831

Cash at bank

706,593

352,323

1,807,317

1,205,154

CREDITORS

Amounts falling due within one year

6

5,057,231

3,379,420

NET CURRENT LIABILITIES

(3,249,914

)

(2,174,266

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,229,881

)

(2,158,087

)

CREDITORS

Amounts falling due after more than one year

7

5,834

15,834

NET LIABILITIES

(3,235,715

)

(2,173,921

)

CAPITAL AND RESERVES

Called up and paid share capital

100

100

Retained earnings

(3,235,815

)

(2,174,021

)

SHAREHOLDERS' FUNDS

(3,235,715

)

(2,173,921

)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 October 2025 and were signed on its behalf by:

Mr G Dixon - Director

1.	STATUTORY INFORMATION

Wildix UK 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 presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates value added tax and other sales taxes.

Turnover is recognised when the customer engages in a contract and not over the course of the life of the contract.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

33% on cost

Financial instruments

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Taxation

Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern

At the time of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. In addition, the company has the support of the company's parent undertaking. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

8,785

19,804

28,589

Additions

-

15,667

15,667

At 31 December 2024

8,785

35,471

44,256

DEPRECIATION

At 1 January 2024

2,606

9,804

12,410

Charge for year

1,236

10,577

11,813

At 31 December 2024

3,842

20,381

24,223

NET BOOK VALUE

At 31 December 2024

4,943

15,090

20,033

At 31 December 2023

6,179

10,000

16,179

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,093,650

830,923

Amounts owed by group undertakings

987

-

Other debtors

3,900

12,310

Prepayments and accrued income

2,187

9,598

1,100,724

852,831

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

144,180

48,722

Amounts owed to group undertakings

4,435,715

3,013,471

Net wages creditor

-

3,063

VAT

313,663

262,491

Accruals and deferred income

153,673

41,673

5,057,231

3,379,420

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

5,834

10,000

Bank loans - 2-5 years

-

5,834

5,834

15,834

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

The Report of the Auditors was qualified on the following basis:

Basis for qualified opinion

As explained in note 4 to the financial statements, the group recognises revenue from services, and the related costs, at the commencement of the service rather than as the services are performed. In our opinion, this accounting treatment is not in accordance with FRS 102, which requires that revenue from the provision of services be recognised as the services are performed.

The financial effect of this departure from FRS 102 on the financial statements has not been quantified by management and we have not been able to determine the impact.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

BENJAMIN REYNOLDS BSc(Hons) FCA (Senior Statutory Auditor)

for and on behalf of TGFP

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Wildix EE OÜ, incorporated in Estonia, which is the smallest and largest group in which these financial statements are consolidated. The accounts can be found at https://ariregister.rik.ee/eng/company/12915667