REGISTERED NUMBER: 11116510 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

REACHX LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mr Rafael Samuel-Lajeunesse

Mr O Beau De Lomenie

Mr M O Gervis

REGISTERED OFFICE:

Unit 2.02 High Weald House

Glovers End

Bexhill

East Sussex

TN39 5ES

REGISTERED NUMBER:

11116510 (England and Wales)

AUDITORS:

Ad Valorem Audit Services Limited

Chartered Certified Accountants & Statutory

Auditors

2 Manor Farm Court

Old Wolverton Road

Old Wolverton

Milton Keynes

Buckinghamshire

MK12 5NN

FIXED ASSETS

Tangible assets

4

436

581

CURRENT ASSETS

Debtors

5

96,475

111,406

Cash at bank

259,166

204,578

355,641

315,984

CREDITORS

Amounts falling due within one year

6

123,518

56,152

NET CURRENT ASSETS

232,123

259,832

TOTAL ASSETS LESS CURRENT LIABILITIES

232,559

260,413

CREDITORS

Amounts falling due after more than one year

7

65,047

78,279

NET ASSETS

167,512

182,134

CAPITAL AND RESERVES

Called up share capital

8

1,083

1,083

Share premium

149,716

149,716

Share option reserve

9

21,181

18,870

Retained earnings

(4,468

)

12,465

SHAREHOLDERS' FUNDS

167,512

182,134

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 Board of Directors and authorised for issue on 18 December 2025 and were signed on its behalf by:

Mr M O Gervis - Director

Mr Rafael Samuel-Lajeunesse - Director

1.	STATUTORY INFORMATION

ReachX 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.

SIGNIFICANT JUDGEMENTS AND ESTIMATES

In preparing the financial statements, management were not required to make any estimates or judgements which materially affect reported income, expenses, assets, liabilities or disclosure of contingent assets and liabilities.

TURNOVER

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

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

-

25% on reducing balance

FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognized 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 recognized 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 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.

Classification of 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 deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognized at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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 greater than one year are recognized initially at transaction price and subsequently measured at amortised cost using the effective interest method.

TAXATION

Taxation for the year 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 statement of financial position date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

SHARE BASED PAYMENT

The company operates an equity-settled share-based payment scheme, under which certain employees and directors receive options over the company's shares as part of their remuneration.

Equity-settled share-based payments are measured at the fair value of the equity instruments at the grant date. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the company's estimate of the number of equity instruments that will eventually vest.

Fair value is determined using an appropriate valuation model, considering the terms and conditions upon which the options were granted.

Where options lapse or are forfeited before vesting, the cumulative expense previously recognised is adjusted to reflect the actual number of options that vest or are expected to vest.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2024

and 31 December 2024

958

DEPRECIATION

At 1 January 2024

377

Charge for year

145

At 31 December 2024

522

NET BOOK VALUE

At 31 December 2024

436

At 31 December 2023

581

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Trade debtors

70,444

96,497

Other debtors

26,031

14,909

96,475

111,406

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Bank loans and overdrafts

11,723

8,766

Trade creditors

97,070

32,212

Taxation and social security

2,925

10,874

Other creditors

11,800

4,300

123,518

56,152

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

as restated

£

£

Bank and other loans

65,047

78,279

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

as restated

£

£

1,081,081

Ordinary Shares

£0.00

1

1,081

1,081

2,111

B Ordinary share

£0.00

1

2

2

1,083

1,083

9.

RESERVES

Share

option

reserve

£

At 1 January 2024

18,870

Addition

2,311

At 31 December 2024

21,181

SHARE-BASED PAYMENT NOTE

The Company operates two share option–based payment schemes:

Enterprise Management Incentive (EMI) Scheme:

Under this scheme, the Company has granted options over shares not exceeding 100,000 in total.

Unapproved Share Option Scheme:

Under this arrangement, the Company has granted options over shares not exceeding 69,000 in total.

Vesting Conditions

Options granted under both schemes may be exercised at any time up to 36 months from the date of grant, subject to continued service. There are no additional performance-based conditions attached to the awards.

Expected Vesting Timeframe

Based on the terms of the schemes, the options are expected to vest within the 36-month vesting period from the date of grant.

Detail

Number of option vested

Fair value

Amount vested in shares option

Outstanding at start of year (01 Dec 2024)

128,477

£0.14

£18,870

Options vested during the year

17,875

£0.14

£2,618

Options expired during the year

(2,080

)

£0.14

(£307

)

Outstanding at end of year (31 Dec 2024)

144,352

£21,181

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

The Report of the Auditors was unqualified.

Zubair Arshad (Senior Statutory Auditor)

for and on behalf of Ad Valorem Audit Services Limited

11.	RELATED PARTY DISCLOSURES

At the balance sheet date a loan inclusive of the interest totalling £59,283 (2023 - £57,837) was owed to the company by an entity controlled by the directors. Interest was charged on these loans, which during the year totalled £1,446 (2023 - £1,411).