THEDX LIMITED (formerly Emitwise Limited) Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 12290905

THEDX LIMITED (formerly Emitwise Limited)

Filleted Unaudited Financial Statements

31 October 2025

THEDX LIMITED (formerly Emitwise Limited)

Financial Statements

Year ended 31 October 2025

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

THEDX LIMITED (formerly Emitwise Limited)

Statement of Financial Position

31 October 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	2,168	126,652

Current assets

Debtors	6	594,100	1,146,668
Cash at bank and in hand		1,223,331	2,338,024
		------------	------------
		1,817,431	3,484,692

Creditors: amounts falling due within one year	7	17,235,607	18,140,048
		-------------	-------------
Net current liabilities		15,418,176	14,655,356
		-------------	-------------
Total assets less current liabilities		( 15,416,008)	( 14,528,704)
		-------------	-------------
Net liabilities		( 15,416,008)	( 14,528,704)
		-------------	-------------

Capital and reserves

Profit and loss account	( 15,416,008)	( 14,528,704)
	-------------	-------------
Shareholders deficit	( 15,416,008)	( 14,528,704)
	-------------	-------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 30 October 2026 , and are signed on behalf of the board by:

Mr M C Gasparotti
Director

Company registration number: 12290905

THEDX LIMITED (formerly Emitwise Limited)

Notes to the Financial Statements

Year ended 31 October 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

During the year, the company sold its principal trading business and subsequently ceased those trading activities. The company continues to manage its remaining assets and liabilities, including amounts receivable under the sale agreement. The company's parent undertaking has confirmed that it will continue to provide financial support and will not seek repayment of amounts owed for a period of at least twelve months from the date these financial statements are approved. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% reducing balance
Equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Research and development

Research expenditure is written off in the period in which it is incurred.

Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met:

- It is technically feasible to complete the intangible asset so that it will be available for use or sale;

- There is the intention to complete the intangible asset and use or sell it;

- There is the ability to use or sell the intangible asset;

- The use or sale of the intangible asset will generate probable future economic benefits;

- There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and

- The expenditure attributable to the intangible asset during its development can be measured reliably.

Expenditure that does not meet the above criteria is expensed as incurred.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 39 (2024: 42 ).

5. Tangible assets

	Plant and machinery	Equipment	Total
	£	£	£
Cost
At 1 November 2024	8,636	271,057	279,693
Additions	–	5,116	5,116
Disposals	( 8,636)	( 272,240)	( 280,876)
	-------	---------	---------
At 31 October 2025	–	3,933	3,933
	-------	---------	---------
Depreciation
At 1 November 2024	5,631	147,410	153,041
Charge for the year	689	28,970	29,659
Disposals	( 6,320)	( 174,615)	( 180,935)
	-------	---------	---------
At 31 October 2025	–	1,765	1,765
	-------	---------	---------
Carrying amount
At 31 October 2025	–	2,168	2,168
	-------	---------	---------
At 31 October 2024	3,005	123,647	126,652
	-------	---------	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	–	364,933
Other debtors	594,100	781,735
	---------	------------
	594,100	1,146,668
	---------	------------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	49,772	151,730
Amounts owed to group undertakings and undertakings in which the company has a participating interest	17,085,109	17,170,878
Social security and other taxes	26,592	136,720
Other creditors	74,134	680,720
	-------------	-------------
	17,235,607	18,140,048
	-------------	-------------

8. Director's advances, credits and guarantees

During the year, no directors received any advances and repayments of £8,000 (2024: £8,815) were made. At year end, a director owed the company £815.

9. Related party transactions

At the year end the company owed £17,085,109 (2024: £17,170,878) to its parent company.

10. Share capital

There is £0.01 of Ordinary Share capital in issue, as the financial statements are prepared to the nearest whole £1 the share capital of £0.01 does not appear in Statement Of Financial Position.

11. Controlling party

The company is a wholly-owned subsidiary of Emitwise, Inc ., a company incorporated in Delaware, United States of America.