Company registration number 15691182 (England and Wales)
WithU Travel Limited
Unaudited Financial Statements
For The Year Ended 28 February 2026
Pages For Filing With Registrar
WithU Travel Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
WithU Travel Limited
Balance Sheet
As At 28 February 2026
Page 1
2026
2025
Notes
£
£
£
£
Fixed assets
Intangible assets
4
1,031,828
638,666
Tangible assets
5
2,874
2,791
1,034,702
641,457
Current assets
Debtors
6
53,907
37,786
Cash at bank and in hand
1,005
59,987
54,912
97,773
Creditors: amounts falling due within one year
7
(2,200,394)
(59,153)
Net current (liabilities)/assets
(2,145,482)
38,620
Total assets less current liabilities
(1,110,780)
680,077
Creditors: amounts falling due after more than one year
8
(631,862)
(1,297,770)
Net liabilities
(1,742,642)
(617,693)
Capital and reserves
Called up share capital
102
102
Profit and loss reserves
(1,742,744)
(617,795)
Total equity
(1,742,642)
(617,693)
WithU Travel Limited
Balance Sheet (Continued)
As At 28 February 2026
Page 2

For the financial year ended 28 February 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements. true

The financial statements were approved by the board of directors and authorised for issue on 23 June 2026 and are signed on its behalf by:
Mr S Clarke
Director
Company registration number 15691182 (England and Wales)
WithU Travel Limited
Notes To The Financial Statements
For The Year Ended 28 February 2026
Page 3
1
Accounting policies
Company information

WithU Travel Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Carriage House, Mill Street, Maidstone, Kent, ME15 6YE.

1.1
Reporting period

The company is reporting a comparative period of shorter than one year as this was the first period that the company had traded. The company intends to report to 28 February each year.

1.2
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Revenue

Revenue comprises services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The company recognises revenue from the following major sources:

- Sale of services

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Sale of services

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.4
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

WithU Travel Limited
Notes To The Financial Statements (Continued)
For The Year Ended 28 February 2026
1
Accounting policies
(Continued)
Page 4
1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Development costs
Straight Line over useful life
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
Straight line over 3 years

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.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

WithU Travel Limited
Notes To The Financial Statements (Continued)
For The Year Ended 28 February 2026
1
Accounting policies
(Continued)
Page 5
1.8
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 current liabilities.

1.9
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 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 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 recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments 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 are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

WithU Travel Limited
Notes To The Financial Statements (Continued)
For The Year Ended 28 February 2026
1
Accounting policies
(Continued)
Page 6
1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are 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 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
6
2
4
Intangible fixed assets
Other
£
Cost
At 1 March 2025
638,666
Additions
707,440
At 28 February 2026
1,346,106
Amortisation and impairment
At 1 March 2025
-
0
Amortisation charged for the year
314,278
At 28 February 2026
314,278
Carrying amount
At 28 February 2026
1,031,828
At 28 February 2025
638,666
WithU Travel Limited
Notes To The Financial Statements (Continued)
For The Year Ended 28 February 2026
Page 7
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2025
3,915
Additions
1,665
At 28 February 2026
5,580
Depreciation and impairment
At 1 March 2025
1,124
Depreciation charged in the year
1,582
At 28 February 2026
2,706
Carrying amount
At 28 February 2026
2,874
At 28 February 2025
2,791
6
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
17,998
-
0
Other debtors
35,909
37,786
53,907
37,786
7
Creditors: amounts falling due within one year
2026
2025
£
£
Convertible loans
1,903,843
-
0
Taxation and social security
2,000
-
0
Other creditors
294,551
59,153
2,200,394
59,153
8
Creditors: amounts falling due after more than one year
2026
2025
£
£
Convertible loans
631,862
1,297,770
WithU Travel Limited
Notes To The Financial Statements (Continued)
For The Year Ended 28 February 2026
Page 8
9
Convertible loan notes
2026
2025
£
£
Liability component of convertible loan notes
2,535,705
1,297,770

The company issued convertible loan notes on 3 May 2024. The loan notes have a maturity date of 12 March 2029. The loan notes may be converted into C £1 Shares.

The effective rate of interest is 15%. The interest has not been discounted and accrued annually from the date of issue.

10
Events after the reporting date

On 27 May 2026 the loan owed to Collinson Investments Limited was converted to 12 Ordinary C shares, after which 100% of the company's share capital was acquired by 10XU Limited.

11
Related party transactions
2026
2025
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
291,851
59,153

The following amounts were outstanding at the reporting end date:

2026
2025
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the company
20
-
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