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Registered number: 03910588 LUMON EXCHANGE LTD ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
LUMON EXCHANGE LTD COMPANY INFORMATION
Director | L E Bridger
Registered number | 03910588
Registered office | 20 Farringdon Road
| London
| England
| EC1M 3HE
Independent auditors | Barnes Roffe Audit Limited
| Chartered Accountants & Statutory Auditors
| 3 Brook Business Centre
| Cowley Mill Road
| Uxbridge
| Middlesex
| UB8 2FX
LUMON EXCHANGE LTD CONTENTS
| Page
Strategic report | 1 - 2
Director's report | 3 - 4
Independent auditors' report | 5 - 8
Statement of comprehensive income | 9
Statement of financial position | 10
Statement of changes in equity | 11
Statement of cash flows | 12
Analysis of net debt | 13
Notes to the financial statements | 14 - 19
LUMON EXCHANGE LTD STRATEGIC REPORT FOR THE YEAR ENDED 31 OCTOBER 2025
Introduction
The director presents the results for the year ended 31 October 2025 and the state of the company's affairs at the reporting date. The company did not undertake any trading activity during the financial year under review.
Business review
The year ended 31 October 2025 saw the Company remain non-trading, following the transfer of its customers and employees to Lumon Pay Ltd on 8 October 2021, with no further changes to its operations during the year. The Company’s key performance indicators are:
| 2025 | 2024
| (£) | (£)
EBITDA: | (16,466) | (46,637)
Cash: | 20,798 | 20,753
Shareholders' funds: | (2,428) | 6,509,038
Principal risks and uncertainties
The director has established an Enterprise Risk Management Framework which considers new and emerging risks and the continuous monitoring and assessment of identified business risks. The risk framework and supporting policies and procedures support the Company’s strategy and growth objectives and management of risks within risk appetite. The Board Risk, Assurance and Compliance Committee provides oversight of the Company’s key risks comprising operational risk and liquidity risk. Operational risk The Company runs operational risk in its day to day business operations. This may arise from failures in internal processes, people or systems which lead to potential or actual loss. The Company’s operational risk management procedures are designed to provide a controlled operating environment and minimise operational risk. Liquidity risk The Company manages its liquidity position to ensure that has sufficient resources to enable it to meet its obligations as they fall due. Stress testing of the Company’s cash generation and funding profile alongside future commitments facilitates a robust approach to liquidity risk management. Page 1
LUMON EXCHANGE LTD STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025
Director's statement of compliance with duty to promote the success of the Company
As the Board of Lumon Exchange Ltd, we have a legal responsibility under section 172 of the Companies Act 2006 to act in the way we consider, in good faith, would be most likely to promote the Company’s success for the benefit of its members as a whole, and to have regard to the long-term effect of our decisions on the company and its stakeholders. ∙The director has considered the reputation of the company with customers, employees and suppliers in their everyday decision making. ∙The director has taken into account the financial returns and the best interests of the company when making strategic decisions. The director carefully considers the consequences of all projects, ensuring they are fully planned and costed, taking account of the potential financial returns as well as the wider impacts on the business and the environment. In addition, the company's operations continually strive for the minimum environmental impact. This report was approved by the board on 1 July 2026 and signed on its behalf.
................................................ L E Bridger Director
Page 2
LUMON EXCHANGE LTD DIRECTOR'S REPORT FOR THE YEAR ENDED 31 OCTOBER 2025 The director presents his report and the financial statements for the year ended 31 October 2025.
Director's responsibilities statement
The director is responsible for preparing the Strategic report, the Director's report and the financial statements in accordance with applicable law and regulations. Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the director is required to: ∙select suitable accounting policies for the Company's financial statements and then apply them consistently; ∙make judgments and accounting estimates that are reasonable and prudent; ∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Going concern assumption The financial statements have been prepared on a non-going concern basis. Management have plans to liquidate the company in the near future, therefore the accounts have not been prepared on a going concern basis. The director believes that no adjustments are required to the accounts as a result of adopting the non-going concern basis.
Results
The loss for the year, after taxation, amounted to £16,466 (2024 - loss £46,637). During the year, the company paid £6,495,000 in dividends (2024 - £Nil).
Director
The director who served during the year was:
L E Bridger
Page 3
LUMON EXCHANGE LTD DIRECTOR'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025
Matters covered in the Strategic report
The company has chosen in accordance with the section 414C of the Companies Act 2006, to set out the following information which would otherwise be required to be continued in the Directors' report within the Strategic report; financial key performance indicators and future developments in the business.
Disclosure of information to auditors
The director at the time when this Director's report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.
Post balance sheet events
There have been no significant events affecting the Company since the year end.
Auditors
The auditors, Barnes Roffe Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. This report was approved by the board on 1 July 2026 and signed on its behalf.
................................................ L E Bridger Director
Page 4
LUMON EXCHANGE LTD INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LUMON EXCHANGE LTD
Opinion
We have audited the financial statements of Lumon Exchange Ltd (the 'Company') for the year ended 31 October 2025, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of cash flows, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: ∙give a true and fair view of the state of the Company's affairs as at 31 October 2025 and of its loss for the year then ended; ∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and ∙have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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 opinion.
Emphasis of matter
We draw attention to note 2.2 in the financial statements, which indicates the accounts have not been prepared on a going concern basis and that the director does not believe any adjustment is required to the accounts in respect of that decision as it would not materially alter a user's view of the financial statements. Our opinion is not modified in respect of this matter.
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The director is responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Page 5
LUMON EXCHANGE LTD INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LUMON EXCHANGE LTD (CONTINUED)
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the Strategic report and the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Strategic report and the Director's report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Director's report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or ∙the financial statements are not in agreement with the accounting records and returns; or ∙certain disclosures of director's remuneration specified by law are not made; or ∙we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the Director's responsibilities statement set out on page 3, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the director is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. Page 6
LUMON EXCHANGE LTD INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LUMON EXCHANGE LTD (CONTINUED)
Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with law and regulations, was as follows: ∙The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; ∙We identified the laws and regulations applicable to the company through discussion with directors and other management, and from our commercial knowledge and experience of the relevant sector; ∙The specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, are as follows: o Companies Act 2006. o FRS102. o Employment legislation. o Tax legislation. ∙We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, reviewing board minutes and inspecting legal correspondence; and ∙Laws and regulations were communicated within the audit team at the planning meeting, and during the audit as any further laws and regulation were identified. The audit team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur by: ∙Making enquiries of management as to where they consider there was susceptibility to fraud and their knowledge of actual suspected and alleged fraud; ∙Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; ∙Reviewing the financial statements and testing the disclosures against supporting documentation; ∙Performing analytical procedures to identify any unusual or unexpected trends or anomalies; ∙Inspecting and testing journal entries to identify unusual or unexpected transactions; ∙Assessing whether judgement and assumptions made in determining significant accounting estimates were indicative of management bias; and ∙Investigating the rationale behind significant transactions, or transactions that are unusual or outside the company’s usual course of business. Page 7
LUMON EXCHANGE LTD INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LUMON EXCHANGE LTD (CONTINUED) The areas that we identified as being susceptible to misstatement through fraud were: ∙Management bias in the estimates and judgements made; ∙Management override of controls; and ∙Posting of unusual journals or transactions. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
Use of our report
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed. Qasim Mehdi (Senior statutory auditor) for and on behalf of Barnes Roffe Audit Limited Chartered Accountants & Statutory Auditors 3 Brook Business Centre Cowley Mill Road Uxbridge Middlesex UB8 2FX 1 July 2026 Page 8
LUMON EXCHANGE LTD STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 OCTOBER 2025
| 2025 | 2024
| £ | £
Cost of sales |  | (15) | (1,213)
Gross loss |  | (15) | (1,213)
Administrative expenses |  | (16,451) | (45,424)
Operating loss | 4 | (16,466) | (46,637)
Tax on loss | 8 | - | -
Loss for the financial year |  | (16,466) | (46,637)
Total comprehensive income for the year |  | (16,466) | (46,637)
The notes on pages 14 to 19 form part of these financial statements.
Page 9
LUMON EXCHANGE LTD REGISTERED NUMBER: 03910588 STATEMENT OF FINANCIAL POSITION AS AT 31 OCTOBER 2025
|  | 2025 |  | 2024
Note | £ | £ | £ | £
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 10 | 6,546,360 |  | 6,558,842 |
Cash at bank and in hand | 11 | 20,798 |  | 20,753 |
|  | 6,567,158 |  | 6,579,595 |
Creditors: amounts falling due within one year | 12 | (6,569,586) |  | (70,557) |
Net current (liabilities)/assets |  |  | (2,428) |  | 6,509,038
Net (liabilities)/assets |  |  | (2,428) |  | 6,509,038
Capital and reserves |  |  |  |  |
Called up share capital | 13 |  | 100 |  | 583,338
Share premium account | 14 |  | - |  | 4,696,396
Profit and loss account | 14 |  | (2,528) |  | 1,229,304
|  |  | (2,428) |  | 6,509,038
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 July 2026.
................................................ L E Bridger
Director
The notes on pages 14 to 19 form part of these financial statements. Page 10
LUMON EXCHANGE LTD STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 OCTOBER 2025
| Called up share capital | Share premium account | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 November 2024 | 583,338 | 4,696,396 | 1,229,304 | 6,509,038
Comprehensive income for the year |  |  |  |
Loss for the year | - | - | (16,466) | (16,466)
Total comprehensive income for the year | - | - | (16,466) | (16,466)
Contributions by and distributions to owners |  |  |  |
Dividends: Equity capital | - | - | (6,495,000) | (6,495,000)
Share capital reduction and transfer of share premium to reserves | (583,238) | (4,696,396) | 5,279,634 | -
At 31 October 2025 | 100 | - | (2,528) | (2,428)
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 OCTOBER 2024
| Called up share capital | Share premium account | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 November 2023 | 583,338 | 4,696,396 | 1,275,941 | 6,555,675
Comprehensive income for the year |  |  |  |
Loss for the year | - | - | (46,637) | (46,637)
Total comprehensive income for the year | - | - | (46,637) | (46,637)
At 31 October 2024 | 583,338 | 4,696,396 | 1,229,304 | 6,509,038
| The notes on pages 14 to 19 form part of these financial statements.
Page 11
LUMON EXCHANGE LTD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 OCTOBER 2025
|  |  | 2025 | 2024
|  |  | £ | £
Cash flows from operating activities |  |
Loss for the financial year | (16,466) | (46,637)
Adjustments for: |  |
(Increase) in debtors | (10) | (22)
Decrease in amounts owed by group undertakings | 12,492 | 51,226
Increase/(decrease) in creditors | 4,029 | (4,819)
Net cash generated from operating activities | 45 | (252)
Net increase/(decrease) in cash and cash equivalents | 45 | (252)
Cash and cash equivalents at beginning of year | 20,753 | 21,005
Cash and cash equivalents at the end of year | 20,798 | 20,753
Cash and cash equivalents at the end of year comprise: |  |
Cash at bank and in hand | 20,798 | 20,753
| 20,798 | 20,753
The notes on pages 14 to 19 form part of these financial statements.
Page 12
LUMON EXCHANGE LTD ANALYSIS OF NET DEBT FOR THE YEAR ENDED 31 OCTOBER 2025
| At 1 November 2024 | Cash flows | At 31 October 2025
| £ | £ | £
Cash at bank and in hand | 20,753 | 45 | 20,798
| 20,753 | 45 | 20,798
The notes on pages 14 to 19 form part of these financial statements.
Page 13
LUMON EXCHANGE LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
1. | General information
Lumon Exchange Ltd is a company limited by shares, incorporated in England and Wales. The address of the registered office is 20 Farringdon Road, London, England, EC1M 3HE. The company did not undertake any trading activity during the financial year under review. 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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006, and on the assumption that the company is a non-going concern. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company accounting policies. The following principal accounting policies have been applied:
| 2.2 | Going concern
The financial statements have been prepared on a non-going concern basis. Management have plans to liquidate the company in the near future, therefore the accounts have not been prepared on a going concern basis. The director believes that no adjustments are required to the accounts as a result of adopting the non-going concern basis.
| 2.3 | 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.
| 2.4 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. In the Statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.
| 2.5 | 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 14
LUMON EXCHANGE LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 2.Accounting policies (continued)
| 2.6 | 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 year 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 year end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in Statement of comprehensive income 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 the Statement of comprehensive income within 'other operating income'.
| 2.7 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount 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 their estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the year in which the estimate is revised, if the revision affects only that year, or in the year of the revision and future years if the revision affects both the current and future years. Page 15
LUMON EXCHANGE LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
4. | Operating loss
| The operating loss is stated after charging:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Exchange differences | 426 | 878
5. | Auditors' remuneration
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fees payable to the Company’s auditor for the audit of the Company’s financial statements | 4,180 | 4,025
| Taxation and other compliance services | 2,795 | 2,685
6. | Employees
| Staff costs were as follows:
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Director and administration | 1 | 2
7. | Director's remuneration
| There was no remuneration paid to the director in the current year (2024 - £Nil).
Page 16
LUMON EXCHANGE LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
8. | Taxation
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Total current tax | - | -
| Taxation on (loss)/profit on ordinary activities | - | -
| Factors affecting tax charge for the year
| The tax assessed for the year is higher than (2024 - higher than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| (Loss)/profit before tax | (16,466) | (46,637)
| Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%) | (4,117) | (11,659)
| Effects of: |  |
| Unrelieved tax losses carried forward | 4,117 | 11,659
| Total tax charge for the year | - | -
| Factors that may affect future tax charges
There are no significant factors that may affect future tax charges.
9. | Dividends
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Dividends | 6,495,000 | -
|  | 6,495,000 | -
Page 17
LUMON EXCHANGE LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
10. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed by group undertakings | 6,546,035 | 6,558,527
| Prepayments | 325 | 315
|  | 6,546,360 | 6,558,842
11. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 20,798 | 20,753
|  | 20,798 | 20,753
| The company's cash at bank and in hand balance includes £24,383 (2024 - £23,595) held in respect of customer balances.
12. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed to group undertakings | 6,495,000 | -
| Other taxation and social security | 63,520 | 63,520
| Accruals | 11,066 | 7,037
|  | 6,569,586 | 70,557
13. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 10,000 Ordinary shares of £0.01 each | 100 | 583,338
| On 30 October 2025, the Company completed a reduction of capital, pursuant to which £583,238 was transferred to the profit and loss account following the cancellation of 58,323,751 ordinary shares of £0.01 each. The reduction was effected in accordance with the Companies Act 2006.
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LUMON EXCHANGE LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
14. | Reserves
Share premium account Share premium includes excess amount received by a company over the par value of its shares. On 30 October 2025, the Company completed a reduction of capital, pursuant to which £4,696,396 was transferred from the share premium account to profit and loss account. The reduction was effected in accordance with the Companies Act 2006. Profit and loss account Profit and loss account includes all current and prior year retained profits and losses.
15. | Related party transactions
| The company has taken advantage of the exemption allowed by Financial Reporting Standard 102 not to disclose any transactions with its immediate parent undertaking and other members of the group that are wholly owned. The company does not have any key management personnel other than the director, who did not receive any remuneration during the year or prior year.
16. | Post balance sheet events
There have been no subsequent events that require disclosure or adjustments to the financial statements.
17. | Ultimate parent undertaking and controlling party
The immediate and ultimate parent undertaking is Lumon Acquisitions Limited, a company incorporated in Jersey with registered office, 3rd floor, 44 Esplanade, St Helier, Jersey, JE4 9WG. The smallest and largest group in which these accounts are consolidated is Lumon Acquisitions Limited. The ultimate controllers of this company at the Statement of financial position date were PSC III G, LP which is a Non-EU Alternative Investment Fund structure established in Ontario, Canada.
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