Company No: OC340952 (England and Wales)

Contents

• Statement of Financial Position
• Reconciliation of Members' Interests
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Investments	4	384,503		384,503
		384,503		384,503
Current assets
Debtors	5	1,000		999
Cash at bank and in hand		316		84
		1,316		1,083
Creditors: amounts falling due within one year	6	( 3,587)		( 7,612)
Net current liabilities		(2,271)		(6,529)
Total assets less current liabilities		382,232		377,974
Net assets attributable to members		382,232		377,974
Represented by
Loans and other debts due to members within one year
Other amounts	7	2,243,582		2,235,257
		2,243,582		2,235,257
Members' other interests
Members' capital classified as equity		101,000		101,000
Other reserves		(1,962,350)		(1,958,283)
		(1,861,350)		(1,857,283)
		382,232		377,974
Total members' interests
Loans and other debts due to members		2,243,582		2,235,257
Members' other interests		(1,861,350)		(1,857,283)
		382,232		377,974

For the financial year ending 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

• The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime and a copy of the Income Statement has not been delivered.

The financial statements of Loxbridge Research LLP (registered number: OC340952) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Stuart Lawson (on behalf of Animatrix Founders LLP) Designated Member

22 December 2025

	EQUITY Members' other interests			DEBT Loans and other debts due to members less any amounts due from members in debtors	Total members' interests
	Members' capital (classified as equity)	Other reserves	Total	Other amounts	Total
	£	£	£	£	£
Amounts due to members				2,235,257
Balance at 01 April 2023	101,000	(1,953,842)	(1,852,842)	2,235,257	382,415
Loss for the financial year available for discretionary division among members	0	(4,441)	(4,441)	0	(4,441)
Members' interest after loss for the financial year	101,000	(1,958,283)	(1,857,283)	2,235,257	377,974
Amounts due to members				2,235,257
Balance at 31 March 2024	101,000	(1,958,283)	(1,857,283)	2,235,257	377,974
Loss for the financial year available for discretionary division among members	0	(4,067)	(4,067)	0	(4,067)
Members' interest after loss for the financial year	101,000	(1,962,350)	(1,861,350)	2,235,257	373,907
Introduced by member	0	0	0	8,325	8,325
Amounts due to members				2,243,582
Balance at 31 March 2025	101,000	(1,962,350)	(1,861,350)	2,243,582	382,232

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests

In the event of winding up the amounts included in "Loans and other debts due to member" will rank equally with unsecured creditors.

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Loxbridge Research LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is First Floor, 5 Fleet Place, London, EC4M 7RD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The members have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Income Statement in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	4 years straight line
Computer equipment	4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Income Statement. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members’ participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member’s participation rights including amounts subscribed or otherwise contributed by members, for example members’ capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

The profits are not automatically divided as they arise, the LLP therefore has an unconditional right to refuse payment of the profits for a particular year unless and until those profits are divided by a decision taken by the members; and accordingly, following such a division, those profits are classed as an appropriation or equity rather than an expense. They are therefore shown as a residual amount available for appropriation in the Profit and Loss Account.

All amounts due to members that are classified as liabilities are presented in the Statement of Financial Position within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of Financial Position within 'Members' other interests'.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the LLP during the year	0		0

3. Tangible assets

	Plant and machinery		Computer equipment		Total
	£		£		£
Cost
At 01 April 2024	65,749		2,791		68,540
At 31 March 2025	65,749		2,791		68,540
Accumulated depreciation
At 01 April 2024	65,749		2,791		68,540
At 31 March 2025	65,749		2,791		68,540
Net book value
At 31 March 2025	0		0		0
At 31 March 2024	0		0		0

4. Fixed asset investments

	2025		2024
	£		£
Other investments and loans	384,503		384,503

The fair value of unlisted investments have been determined by the members with reference to their knowledge of the respective markets the investments operate in.

5. Debtors

	2025		2024
	£		£
Other debtors	1,000		999

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	0		4,050
Other creditors	3,587		3,562
	3,587		7,612

7. Loans and other debts due to members

In the event of a winding up, except for those secured under the debenture as detailed above, the amounts included in "loans and other debts due to member" will rank equally with unsecured creditors.