LIFEBIT BIOTECH LIMITED

Company number

10727859

Status

Active

Incorporation

2017-04-18

Last accounts made up

2024-12-31

Account category

GROUP

Primary SIC

62012

Hubs

UK AI & Enterprise SaaS

Values shown as filed in iXBRL accounts. — indicates the figure was not present in the extracted filing (either not filed under that concept or absent from the period). About these numbers

Accounting basis

FRS 102

Reporting scope

Consolidated (group)

Auditor

RSM UK Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“At the time of approving the financial statements the directors have a reasonable expectation that the group and company has adequate resources to continue in operational existence for the foreseeable future. The directors have prepared forecast information that indicates that the cash balances available will provide a cash runway for a period of at least 12 months from the date of approval of the financial statements. The directors therefore continue to adopt the going concern basis of accounting in preparing the financial statements.”

Subsidiaries

• Lifebit Biotech (Spain), S.L. · 100% held · Spain · provision of local customer support and development services to the parent company.
• Lifebit Biotech Greece Single Member Private Company · 100% held · Greece · provision of local customer support and development services to the parent company.
• Lifebit Biotech PTE. Ltd · 100% held · Singapore · provision of local customer support and development services to the parent company.
• Lifebit Biotech Inc. · 100% held · USA · provision of local customer support and development services to the parent company.
• Lifebit Biotech Australia Pty Ltd · 100% held · Australia · provision of local customer support and development services to the parent company.

Significant events

• “During the year ended December 2024 the group's annual turnover increased from £4.613m to £5.176m. The growth in revenues was driven by a combination of new customer acquisition, continued renewals, upsells, and new revenue streams from additional platform functionalities launched in 2024.”
• “Gross profit increased from £3.121m to £3.904m, with gross margin increasing from 68% to 75% due to increased operational efficiency.”
• “Administrative expenses, excluding the exceptional expense of £0.879m, at £13.114m were 20% lower than prior year as the company delivered on a cost optimisation programme.”
• “Overall, the group made an operating loss before exceptional expense of £9.209m (2023: £13.289m). Loss before taxation is £8.622m (2023: £14.406m).”
• “During 2024, the group's cash position decreased from £30.532m to £23.624m, a reflection of the continued investment in product development, sales, security, and compliance.”
• “No ordinary dividends were paid during the year, and the directors do not recommend payment of a final dividend.”

Auditor / going-concern / subsidiary information is extracted from the PDF version of the latest annual accounts and is not tagged in iXBRL. About these numbers