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Registered number: 07273632
CANDEX SOLUTIONS LTD
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2025
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CANDEX SOLUTIONS LTD
COMPANY INFORMATION
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Ecovis Wingrave Yeats LLP
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Chartered Accountants & Statutory Auditor
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3rd Floor, Waverley House
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CANDEX SOLUTIONS LTD
CONTENTS
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Notes to the Financial Statements
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CANDEX SOLUTIONS LTD
REGISTERED NUMBER: 07273632
BALANCE SHEET
AS AT 31 DECEMBER 2025
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Debtors: amounts falling due after more than one year
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 2 to 7 form part of these financial statements.
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CANDEX SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Candex Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07273632. The registered office is 32 Byron Hill Road, Harrow On The Hill, Middx, HA2 0HY.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 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's accounting policies.
These financial statements have been prepared on the going concern basis. For the year ended 31 December 2025, the Company reported a profit of £108,619 (2024: profit of £123,246). At the reporting date, the Company had net assets of £172,358 (2024: net assets of £91,488).
The Company has net intercompany liabilities of £3,497,183 (2024: £4,049,997). The Group has confirmed that these balances will not be recalled for at least 12 months from the date of approval of these financial statements.
Based on the above and after considering the Company’s forecasts and future expected cashflows, the Directors have a reasonable expectation that the Company will continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.
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 provision of services in facilitating transactions between buyers and sellers.
Revenue is recognised at the point the buyer is invoiced by the company, following receipt of the seller’s invoice. This represents the point at which the company becomes entitled to its fee for facilitating the transaction. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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CANDEX SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax recognised in profit or loss for the year, except when it relates to items that are recognised in other comprehensive income or directly in equity, in which case current tax is recognised in other comprehensive income or directly in equity respectively.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.
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Judgements in applying accounting policies and key sources of estimation uncertainty
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Recoverability of intercompany debtors
The directors review amounts owed by group companies with a view to providing for these where there is uncertainty regarding the recoverability of these balances. The directors apply judgement in determining the recoverability of the balance outstanding and no provision has been included.
Revenue Recognition
The directors consider all performance obligations in respect of the services Candex Solutions Ltd provide to be complete at the point the buyer is invoiced upon receipt of the seller's invoice, and not when payment is received from the buyer or when payment is made to the seller. Any obligations subsequent to this point are considered to be trivial in the context of the overarching service.
Share Based Payments
The fair value at the grant date is calculated by a third-party. The directors consider any liabilities arising from, or costs related to, share based payments during the year to be immaterial.
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CANDEX SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The Company participates in the Dexx Technologies Inc. Stock Option and Grant Plan. Pursuant to the Plan, employees can acquire a number of shares of the Company's Common Stock for a predetermined price from Dexx Technologies Inc., the ultimate parent and controlling entity, as set out in Note 11. The Company accounts for share-based payments in accordance with FRS 102 s.26, which requires all employee share awards to be expensed in the profit and loss statement with the expense measured at fair value at the date of grant and amortised over the vesting period. The fair value at the grant date is calculated by a third-party. Management have assessed the impact as immaterial and do not recognise the expense within the Company's financial statements.
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The average monthly number of employees, including directors, during the year was 12 (2024 - 7).
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Due after more than one year
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Prepayments and accrued income
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Amounts owed by group undertakings
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Amounts owed by group undertakings are unsecured, interest-free and repayable on demand.
Other debtors falling due after more than one year comprise a lease deposit of £42,648 (2024: Nil), which is refundable at the end of the lease term.
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CANDEX SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Creditors: Amounts falling due within one year
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Bank loans and overdrafts
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Accruals and deferred income
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Amounts owed to group undertakings
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Amounts owed to group undertakings are unsecured, interest-free and repayable on demand.
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CANDEX SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Allotted, called up and fully paid
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200,010 (2024 - 200,010) Ordinary shares of £1.00 each
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The ordinary shares carry full rights in the Company with respect to voting, dividends, and distributions on winding up.
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The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £19,359 (2024 - £12,666). Contributions totalling £3,173 (2024 - £2,238) wer payable to the fund at the balance sheet date and are included in creditors.
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Commitments under operating leases
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At 31 December 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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Related party transactions
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The company has taken exemption under FRS 102, section 33 Related Party Disclosure paragraph 33.1A, whereby the company is not required to disclose transactions with other wholly owned subsidiaries and members of the group.
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Ultimate controlling party
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The immediate parent is Candex Technologies Limited, a company incorporated in Israel. The results of the Company are consolidated into the parent and are available at the parent’s registered address, Bezalel 4, Ramat Gan, IL, 52521. The ultimate controlling parent company is Dexx Technologies Inc, a company incorporated in the US.
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CANDEX SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.
The audit report was signed on 14 September 2026 by Michael Storey (Senior Statutory Auditor) on behalf of Ecovis Wingrave Yeats LLP.
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