Registration number:
Report of the Director and
for the
Year Ended 31 December 2023
for
ARX Alliance Limited
ARX Alliance Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
ARX Alliance Limited
Company Information
Directors: |
A J Runciman A W Turville B Delomenie P S Richardson C R C Codoma |
Registered office: |
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Registered number: |
11492489 |
Accountants: |
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ARX Alliance Limited
(Registration number: 11492489)
Balance Sheet as at 31 December 2023
Note |
31.12.23 |
31.12.22 |
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£ |
£ |
£ |
£ |
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FIXED ASSETS |
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Intangible assets |
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Tangible assets |
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CURRENT ASSETS |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
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Creditors within 1yr |
117,178 |
217,049 |
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Net current assets |
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Total assets less current liabilities |
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Creditors
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PROVISIONS FOR LIABILITES |
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Net assets |
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CAPITAL AND RESERVES |
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Called up share capital |
2,543 |
2,543 |
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Share premium reserve |
1,595,335 |
1,595,335 |
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Other component of equity |
17,183 |
6,846 |
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Profit and loss account |
(799,078) |
(444,458) |
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Shareholders' funds |
815,983 |
1,160,266 |
For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
ARX Alliance Limited
(Registration number: 11492489)
Balance Sheet as at 31 December 2023 (continued)
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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ARX Alliance Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
1. |
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
2. |
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The presentational currency is Pound Sterling (£).
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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 taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
ARX Alliance Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)
2 |
Accounting policies (continued) |
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
3. |
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
4. |
Intangible assets |
Computer |
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Cost or valuation |
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At 1 January 2023 |
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Additions internally developed |
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At 31 December 2023 |
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Amortisation |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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The company is developing software as a product to allow its customers to determine risk associated with their systems. The intangible asset is not amortised during the year as the software is not complete yet.
ARX Alliance Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)
5. |
Tangible assets |
Office equipment |
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Cost or valuation |
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At 1 January 2023 |
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At 31 December 2023 |
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Depreciation |
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At 1 January 2023 |
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Charge for the year |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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6. |
Debtors |
31.12.23 |
31.12.22 |
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Other debtors |
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Included in other debtors is the R&D tax credit receivable for £78,172 (2022: £202,300).
7. |
Creditors |
Creditors: amounts falling due within one year
31.12.23 |
31.12.22 |
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Due within one year |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Other creditor is a loan from a director on which no interest or repayment terms have been set.
ARX Alliance Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)
7 |
Creditors (continued) |
Creditors: amounts falling due after more than one year
Note |
31.12.23 |
31.12.22 |
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Due after one year |
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Loans and borrowings |
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Other non-current financial liabilities |
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- |
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1,124,373 |
328,358 |
Other non-current financial liabilities is a loan of £200,000. It has been agreed in principle that this loan will be converted into share capital but no final agreement is yet in place.
8. |
Share capital |
Allotted, called up and fully paid shares
31.12.23 |
31.12.22 |
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No. |
£ |
No. |
£ |
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1,445.37 |
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1,445.37 |
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592.28 |
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592.28 |
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505.96 |
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505.96 |
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ARX Alliance Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)
9. |
Loans and borrowings |
31.12.23 |
31.12.22 |
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Non-current loans and borrowings |
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Convertible loan notes |
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During the year, the company issued 5% fixed rate convertible loan note 2025 of £553,800. The convertible loan note has been split with the equity component of £10,337 being recognised separately on the balance sheet under other reserves.