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Registration number: 03033257

Axxora (UK) Limited

Filleted Financial Statements

for the Year Ended 31 July 2023

 

Axxora (UK) Limited
(Registration number: 03033257)

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

Axxora (UK) Limited
(Registration number: 03033257)

Company Information

Director

K A Cannon

Registered office

1 Colleton Crescent
Exeter
Devon
EX2 4DG

Auditors

Thompson Jenner LLP
Statutory Auditors
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

Axxora (UK) Limited
(Registration number: 03033257)

Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

6

2,303,201

2,303,201

Current assets

 

Debtors

7

57,381

73,558

Creditors: Amounts falling due within one year

8

(3,093,784)

(2,935,717)

Net current liabilities

 

(3,036,403)

(2,862,159)

Net liabilities

 

(733,202)

(558,958)

Capital and reserves

 

Called up share capital

100,000

100,000

Share premium reserve

564,157

564,157

Profit and loss account

(1,397,359)

(1,223,115)

Total equity

 

(733,202)

(558,958)

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 22 March 2024
 

.........................................
K A Cannon
Director

 

Axxora (UK) Limited
(Registration number: 03033257)

Notes to the Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
1 Colleton Crescent
Exeter
Devon
EX2 4DG

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.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 399 (2A) of the Companies Act 2006 and has not prepared group accounts.

Going concern

The company has made a loss during the year ended 31 July 2023 and has net current liabilities and net liabilities. The directors are confident that the company can trade profitably in the future.

The company has received confirmation of continued support from its parent company Enzo Life Sciences Overseas Holding Co. Inc.& the ultimate controlling party Enzo Bicochem Inc.

Audit report

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 26 March 2024 was Mr Jonathan Westley, who signed for and on behalf of Thompson Jenner LLP.

 

Axxora (UK) Limited
(Registration number: 03033257)

Notes to the Financial Statements for the Year Ended 31 July 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 2).

4

Interest payable and similar charges

Interest payables includes £176,155 (2022 - £85,930) payable on loans from group companies.

5

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Foreign exchange gains/losses

(1,911)

4,631

 

Axxora (UK) Limited
(Registration number: 03033257)

Notes to the Financial Statements for the Year Ended 31 July 2023

6

Investments

2023
£

2022
£

Investments in subsidiaries

2,303,201

2,303,201

Subsidiaries

£

Cost or valuation

At 1 August 2022

2,303,201

At 31 July 2023

2,303,201

Carrying amount

At 31 July 2023

2,303,201

At 31 July 2022

2,303,201

7

Debtors

2023
£

2022
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

57,381

73,558

Total current trade and other debtors

57,381

73,558

8

Creditors

2023
£

2022
£

Due within one year

Amounts owed to group undertakings and undertakings in which the company has a participating interest

3,093,784

2,935,717

9

Contingent assets

The company has an unprovided deferred tax asset in respect of tax losses available to be set off against future taxable profits. This asset is valued at £235,145 (2022: £191,584) and is calculated using a tax rate of 25% (2022: 25%). Deferred tax balances are not discounted.

10

Related party transactions

The company has taken advantage of the exemptions in FRS 102 Section 1A "Related Party Disclosures" from disclosing transactions with other members of the group and key management personnel.

 

Axxora (UK) Limited
(Registration number: 03033257)

Notes to the Financial Statements for the Year Ended 31 July 2023

11

Parent and ultimate parent undertaking

The parent company is Enzo Life Sciences Overseas Holding Co, Inc. a company incorporated in the United States of America.

The company is ultimately controlled by Enzo Biochem Inc.,a company listed on the New York Stock Exchange.

Copies of the accounts are available from:

Investor and Public Relations
LifeSci Advisors
250 West 55th Street Suite 3401
New York
NY