REGISTERED NUMBER: 14161682 (England and Wales)

Financial Statements

for the Period 1 December 2023 to 31 December 2024

for

Litmos Uk, Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs K Stair

SECRETARY:

Vistra Cosec Limited

REGISTERED OFFICE:

First Floor, Templeback

10 Temple Back

Bristol

BS1 6FL

REGISTERED NUMBER:

14161682 (England and Wales)

AUDITORS:

WP Audit Limited

Statutory Auditors

TOR

Saint-Cloud Way

Maidenhead

Berkshire

SL6 8BN

FIXED ASSETS

Intangible assets

5

2,320,270

2,637,780

Tangible assets

6

34,519

52,684

2,354,789

2,690,464

CURRENT ASSETS

Debtors

7

3,440,677

2,920,694

Cash at bank

1,031,619

365,100

4,472,296

3,285,794

CREDITORS

Amounts falling due within one year

8

(4,418,415

)

(3,813,004

)

NET CURRENT ASSETS/(LIABILITIES)

53,881

(527,210

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,408,670

2,163,254

CAPITAL AND RESERVES

Called up share capital

2,160,934

2,160,934

Retained earnings

247,736

2,320

2,408,670

2,163,254

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 December 2025 and were signed by:

Mrs K Stair - Director

1.	STATUTORY INFORMATION

Litmos Uk, Ltd. 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.

Significant judgements and estimates

In the application of the company's accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The company does not make significant estimates and assumptions concerning the future.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Computer equipment

-

33% on cost

Financial instruments

Financial assets and financial liabilities are recognised when the group becomes a party to the contractual provisions of the instrument. 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 deducting all of its liabilities.

(i) Financial assets and liabilities

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:

(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.

(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.

(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).

(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.

(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.

(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).

Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment. With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss. Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Financial assets are derecognised when and only when (a) the contractual rights to the cash flows from the financial asset expire or are settled, (b) the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or (c) the company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

(ii) 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 profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

In the company balance sheet, investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.

(iii) Equity instruments

Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 31 (2023 - 30 ) .

4.	AUDITORS' REMUNERATION

Period

Period

1.12.23

9.6.22

to

to

31.12.24

30.11.23

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

18,850

9,500

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2023

and 31 December 2024

2,930,867

AMORTISATION

At 1 December 2023

293,087

Charge for period

317,510

At 31 December 2024

610,597

NET BOOK VALUE

At 31 December 2024

2,320,270

At 30 November 2023

2,637,780

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2023

74,897

Additions

13,471

At 31 December 2024

88,368

DEPRECIATION

At 1 December 2023

22,213

Charge for period

31,636

At 31 December 2024

53,849

NET BOOK VALUE

At 31 December 2024

34,519

At 30 November 2023

52,684

7.

DEBTORS

31.12.24

30.11.23

£

£

Amounts falling due within one year:

Trade debtors

1,221,481

2,341,725

Amounts owed by group undertakings

1,605,278

204,662

Other debtors

270,387

123,285

3,097,146

2,669,672

Amounts falling due after more than one year:

Other debtors

343,531

251,022

Aggregate amounts

3,440,677

2,920,694

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

30.11.23

£

£

Trade creditors

16,107

-

Taxation and social security

309,087

484,023

Other creditors

4,093,221

3,328,981

4,418,415

3,813,004

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

The Report of the Auditors was unqualified.

Philippa Duckworth BSc FCCA (Senior Statutory Auditor)

for and on behalf of WP Audit Limited

10.	CONTROLLING PARTY

Litmos UK Ltd is a 100% subsidiary of Solo International Holdings Ltd, a private company limited by shares and incorporated in England, registered at Suite 1, 7th Floor, 50 Broadway, London, UK SW1H 0BL.

The ultimate controlling party is Solo Topco GP, LLC, a company incorporated in US, registered at 251 Little Falls Drive, Wilmington, DE 19808.

11.	OTHER INFORMATION

Litmos UK LTD is a private company limited by shares and incorporated in England. Its registered office is:-

First Floor, Templeback

10 Temple Back

Bristol

United Kingdom

BS1 6FL