ACCOUNTS - Final Accounts preparation

Registered number: 14747217

LIQUIT LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023

LIQUIT LIMITED

REGISTERED NUMBER: 14747217

BALANCE SHEET

AS AT 31 DECEMBER 2023

		2023
Note		£

Fixed assets
Tangible assets	4		3,629
			3,629
Current assets
Debtors: amounts falling due within one year	5	19,539
		19,539
Creditors: amounts falling due within one year	6	(346,418)
Net current liabilities			(326,879)
Total assets less current liabilities			(323,250)

Net liabilities			(323,250)

Capital and reserves
Called up share capital	7	1,000
Profit and loss account		(324,250)
		(323,250)

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 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 by:

P W Hermeling

Director

Date: 21 October 2025

The notes on pages 2 to 7 form part of these financial statements.

Page 1

LIQUIT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023

1.	General information

Liquit Limited is a private company limited by shares incorporated in England and Wales. The registered office is Old Bailey, London, United Kingdom, EC4M 7AU.
The presentational and functional currency is pound sterling and the financial statements are rounded to
the nearest £1.
The financial statements cover a short period from 21 March 2023 to 31 December 2023. The company was incorporated on 21 March 2023 and these are the first financial statements prepared for this period

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

Going concern

As at the period end, the company made a loss of £324,250 and had net liabilities of £323,250. The financial statements have been prepared on a going concern basis, which the directors consider appropriate given the company’s reliance on the continued financial support of its parent company.
The parent company has confirmed its intention to provide financial support to the company for at least twelve months from the date of approval of these financial statements. The company is dependent on this intercompany financing facility to meet its liabilities as they fall due and to continue trading.
In forming their view that the going concern basis remains appropriate, the directors have considered the financial position of the parent company and the wider group, including the availability of committed banking facilities and forecast cash flows. Having reviewed these factors, the directors are satisfied that the group has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements continue to be prepared on a going concern basis.

Page 2

LIQUIT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

2.3

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

2.4

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 profit or loss 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.

2.5

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.

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Page 3

LIQUIT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

2.5

Tangible fixed assets (continued)

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

20 % 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 profit or loss.

2.6

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.

2.7

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

LIQUIT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Employees

The average monthly number of employees, including directors, during the period was 2.

Page 5

LIQUIT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023

4.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	Additions	3,754
	At 31 December 2023	3,754
	Depreciation
	Charge for the period on owned assets	125
	At 31 December 2023	125
	Net book value
	At 31 December 2023	3,629

Debtors

					2023
					£


	Amounts owed by group undertakings	1,000
	Prepayments	18,539
		19,539

Page 6

LIQUIT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023

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

	Trade creditors	16,858
	Amounts owed to group undertakings	307,643
	Other taxation and social security	8,485
	Other creditors	593
	Accruals and deferred income	12,839
		346,418

Amounts owed to group undertakings are unsecured and interest free.

7.	Share capital
		2023
		£

		Allotted, called up and fully paid

		1,000 Ordinary shares of £1.00 each	1,000

The ordinary shares have attached to them full voting rights, rights to dividends, and rights to capital distribution (including on winding up). The shares do not confer any rights of redemption.

8.	Controlling party

The ultimate parent company is PSG Recast Holdings LP, a company incorporated in the United States.

9.	Auditors' information

The auditors' report on the financial statements for the Period ended 31 December 2023 was unqualified.

The audit report was signed on 21 October 2025 by Kathryn Edmands FCA (Senior Statutory Auditor) on behalf of MHA.

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