TYMIT LTD

• ⚠

  Material uncertainty over going concern

  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.

Latest accounts filed cover 2024-06-30; financial figures currently reflect up to 2021-06-30.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

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.”

Group structure

1. TYMIT LTD · parent
   1. Tymit Lending S.L. 100% · 28010 Madrid · Provision of internal engineering services
   2. Tymit Financial Services Ltd 100% · London, England, W2 1DP · Provision of credit card services
   3. Tymit Consumer Services Ltd 100% · 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 and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

14

last 12 months

Capital events

11

last 24 months

Officers appointed

1

last 12 months

Officers resigned

2

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  —

  Not reported

• Cash

  -30.3%

  £944,916 → £658,679

• Net assets

  -2,460.6%

  -£146,484 → -£3,750,845

  lowest in 3 filed years

• Employees

  +80%

  15 → 27

  highest in 3 filed years

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers