Caseware UK (AP4) 2023.0.135 2023.0.135 truefalsetrue62023-01-01Telecommunications6 12020550 2023-01-01 2023-12-31 12020550 2022-01-01 2022-12-31 12020550 2023-12-31 12020550 2022-12-31 12020550 c:Director2 2023-01-01 2023-12-31 12020550 d:CurrentFinancialInstruments 2023-12-31 12020550 d:CurrentFinancialInstruments 2022-12-31 12020550 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12020550 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12020550 d:ShareCapital 2023-12-31 12020550 d:ShareCapital 2022-12-31 12020550 d:RetainedEarningsAccumulatedLosses 2023-12-31 12020550 d:RetainedEarningsAccumulatedLosses 2022-12-31 12020550 c:OrdinaryShareClass1 2023-01-01 2023-12-31 12020550 c:OrdinaryShareClass1 2023-12-31 12020550 c:OrdinaryShareClass1 2022-12-31 12020550 c:FRS102 2023-01-01 2023-12-31 12020550 c:Audited 2023-01-01 2023-12-31 12020550 c:FullAccounts 2023-01-01 2023-12-31 12020550 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12020550 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 12020550 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12020550










AXESS Networks Solutions UK Ltd









Financial statements

Information for filing with the registrar

For the year ended 31 December 2023



 
AXESS Networks Solutions UK Ltd
Registered number: 12020550

Balance sheet
As at 31 December 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
70,763
47,574

Cash at bank and in hand
  
60,366
82,472

  
131,129
130,046

Creditors: amounts falling due within one year
 5 
(50,231)
(65,218)

Net current assets
  
 
 
80,898
 
 
64,828

Total assets less current liabilities
  
80,898
64,828

  

Net assets
  
80,898
64,828


Capital and reserves
  

Called up share capital 
 6 
100
100

Profit and loss account
  
80,798
64,728

  
80,898
64,828


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 February 2024.




Mauricio Segovia Ospina
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
AXESS Networks Solutions UK Ltd
 

 
Notes to the financial statements
For the year ended 31 December 2023

1.


General information

AXESS Networks Solutions UK Ltd (the Company) is a limited company incorporated on 28 May 2019, and domiciled in the United Kingdom. The registered office is 168 Shoreditch High St, London, E1 6RA.
The principal activity of the company is that of telecommunications activities.
The company's functional and presentational currency is Pounds Sterling.
The company's financial statements are presented to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company is reliant upon the support of its fellow group company to continue in operational existence for the foreseeable future. The director has a reasonable expectation, after making appropriate enquires, that the Company and parent undertaking of the group AXESS Networks Solutions, S.L.U. have adequate resources to continue in operational existence for the foreseeable future. 
The director has received confirmation of the support from the wider group for a period of 12 months from the date the balance sheet was approved. For this reason, the going concern basis for preparing the financial statements has been adopted. 

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP, rounded to the nearest £.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 2

 
AXESS Networks Solutions UK Ltd
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue recognised by the Company solely consists of costs incurred on behalf of fellow overseas group Companies, that are then recharged at a pre-determined rate of mark-up. This is invoiced to the respective group Company in arrears. 

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 3

 
AXESS Networks Solutions UK Ltd
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2022 - 6).


4.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
67,282
45,930

Other debtors
3,481
1,644

70,763
47,574



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
2,122
-

Corporation tax
4,942
4,829

Accruals and deferred income
43,167
60,389

50,231
65,218


Page 4

 
AXESS Networks Solutions UK Ltd
 

 
Notes to the financial statements
For the year ended 31 December 2023

6.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



7.


Related party transactions

The Company has elected to take the exemption from disclosing transactions with other companies that are wholly owned within the group (FRS 102 Section 33.1A). 


8.


Controlling party

The company is a wholly owned subsidiary of its parent company and ultimate controlling party Hispasat, S.A.
The company's results for the current year are consolidated in the financial statements of its ultimate controlling party Hispasat, S.A., who's registered office is: Calle de Anabel Segura, 11, 28011 Alcobendas, Madrid, Spain.


9.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 8 February 2024 by Anne Dwyer BSc (Hons) FCA (Senior statutory auditor) on behalf of Kreston Reeves LLP.


Page 5