TYMIT LTD

Company number

10827757

Status

Active

Incorporation

2017-06-20

Last accounts made up

2024-06-30

Account category

GROUP

Primary SIC

62020

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

Cooper Parry Group Limited

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to note 2.3 in the financial statements, which indicates that the Group's ability to continue as a going concern is dependent on revenues from one key customer. We have obtained written representations from this customer regarding their intent to continue the business relationship but there are no obligations binding this customer to their arrangement with the Group, and so the revenue stream on which the Group is reliant upon is uncertain. As stated in note 2.3, these events or conditions, along with the other matters as set forth in note 2.3, indicate that a material uncertainty exists that may cast significant doubt on the Group's or the parent company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.”

Subsidiaries

• Tymit Lending S.L. · 100% held · 28010 Madrid · Provision of internal engineering services
• Tymit Financial Services Ltd · 100% held · London, England, W2 1DP · Provision of credit card services
• Tymit Consumer Services Ltd · 100% held · London, England, W2 1DP · Provision of insurance agents and brokers

Significant events

• “On 24 July 2024, the Directors of Tymit made a decision to close the co-brand credit cards business of the company and to focus on developing and servicing technology platforms for buy-now-pay-later solutions.”
• “On 15 November 2024, Tymit has blocked the ability to make any new purchase transactions for all its credit card customers. The customers will from here onwards only be able to repay their debt.”
• “On 27 November 2024, Frasers Group purchased shares in Tymit Ltd held by Idol Bay SCSp and Idol Bay II SCSp, both being investment funds representing Fasanara Capital. As a result of this transaction, Frasers Group owns 42% of shares in Tymit Ltd.”

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