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Registered number: 01710198
PLEXUS EUROPE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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PLEXUS EUROPE LIMITED
CONTENTS
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Statement of changes in equity
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Notes to the financial statements
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PLEXUS EUROPE LIMITED
REGISTERED NUMBER: 01710198
BALANCE SHEET
AS AT 31 DECEMBER 2025
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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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
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 on 17 September 2026.
The notes on pages 4 to 7 form part of these financial statements.
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PLEXUS EUROPE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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Comprehensive income for the year
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Other comprehensive income for the year
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Total comprehensive income for the year
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Total transactions with owners
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The notes on pages 4 to 7 form part of these financial statements.
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PLEXUS EUROPE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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Comprehensive income for the year
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Other comprehensive income for the year
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Total comprehensive income for the year
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Total transactions with owners
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The notes on pages 4 to 7 form part of these financial statements.
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PLEXUS EUROPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Plexus Europe Limited is a private company, limited by shares, registered in England and Wales. The Company's registered number and registered office address, which is its principal place of business, can be found on the Company Information page.
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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
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.
The following principal accounting policies have been applied:
The financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the following reasons.
The Company provides services to other companies in the XBP Europe Inc. group and has no customers outside of this group. The Company made a net loss of £424,877 for the year ended 31 December 2025 (2024: £166,430 net loss ) and as of that date held net current assets of £2,103,422 (2024 - £2,528,299). Net current assets are principally amounts owed by/ to other XBP entities.
XBP Europe Inc: has indicated its intention to continue to provide financial and other support to the Company,including not seeking repayment of any amounts currently made available, for at least for the next twelve months from the date of approval of these financial statements to enable it to meet its financial liabilities as they fall due and continue to trade.
Consequently, the directors are confident that the Company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.
The Company recognises software revenue when the product has been delivered and all obligations have been fulfilled. The Company undertakes to maintain customers' software under maintenance contracts. Such income is released to the profit and loss account on a straight-line basis over the life of the contract. Where contracts consist of multiple elements, revenue is allocated based on the fair value of the individual elements.Maintenance costs are expensed as they are incurred.
Interest income is recognised in profit or loss using the effective interest method.
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PLEXUS EUROPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Current & Deferred Taxation
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Tax is recognised in profit or loss except that a charge attributable to an item of income and expense
recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
• The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
• Any deferred tax balances are reversed if and when all conditions for retaining associated tax
allowances have been met; and
• Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Company can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
The average monthly number of directors not paid during the year was 2 (2024: 2)
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Foreign Exchange Gain/(Loss)
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PLEXUS EUROPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Unrealised Exchange Gain/(Loss)
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Realised Exchange Gain/(Loss)
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Amounts owed by group undertakings
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Amounts due from group undertakings are interest bearing, with interest rates ranging from 0% to 12%. Amounts are repayable on demand.
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Amounts due for group undertakings are interest bearing, with interest rates ranging from 0% to 12%. Amounts are repayable on demand
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Allotted, called up and fully paid
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3,146,076 (2024 - 3,146,076) Ordinary share capital shares of £1.00 each
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Each ordinary share carries voting rights and there are no restrictions on the distribution of dividends.
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PLEXUS EUROPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
During the year, the Company identified certain balances in the comparative period that were not appropriately classified in accordance with the presentation requirements of FRS 102.
A Foreign exchange gain of £13,892 previously included within administrative expenses has been reclassified and presented separately below operating loss in the current year financial statements. This change has been made to provide a more appropriate presentation of the nature of the foreign exchange gain and to improve the comparability and clarity of the statement of profit or loss. The reclassification has no impact on the Company's reported loss, retained earnings and net assets for the comparative period.
The presentation reclassifications have no effect on the Company's reported loss or retained earnings. The error has been corrected as a prior period adjustment in the current year financial statements and the comparative amounts have therefore been restated to ensure appropriate presentation in the financial statements.
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Unrealised Foreign Gain/(Loss)
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Realised Foreign Gain/ (Loss)
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The company's immediate parent company is XBP Europe Inc., a company registered in the USA. The company's ultimate parent undertaking is XBP Global Holdings, Inc., incorporated in the USA, whose principle place of business is at 6641 N Belt Line Rd, Suite 100, Irving, TX 75063 and includes the company in its consolidated financial statements. The group accounts of XBP Global Holdings, Inc, prepared in accordance with US GAAP can be obtained from this address or www.sec.gov.
The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.
The audit report was signed on 18 September 2026 by Krishna Prasad Dahal (Senior statutory auditor) on behalf of Focus Somar Audit and Tax Accountants Limited.
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