REGISTERED NUMBER: |
REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
ALEXA CAPITAL LIMITED |
REGISTERED NUMBER: |
REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
ALEXA CAPITAL LIMITED |
ALEXA CAPITAL LIMITED (REGISTERED NUMBER: 10759666) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Report of the Independent Auditors | 3 |
Income Statement | 6 |
Other Comprehensive Income | 7 |
Statement of Financial Position | 8 |
Statement of Changes in Equity | 9 |
Statement of Cash Flows | 10 |
Notes to the Statement of Cash Flows | 11 |
Notes to the Financial Statements | 12 |
ALEXA CAPITAL LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants and |
Statutory Auditors |
55 Loudoun Road |
St Johns Wood |
London |
NW8 0DL |
ALEXA CAPITAL LIMITED (REGISTERED NUMBER: 10759666) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 31 MARCH 2024 |
The directors present their report with the financial statements of the company for the year ended 31 March 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of the provision of financial services. |
Alexa Capital is an independent corporate finance advisory firm with extensive experience in the energy infrastructure, energy technology and e-Mobility industry sectors - with a commitment to driving capital flows that transform global energy use to create a clean, reliable, secure and low carbon future. The company's objective is to support clients to navigate optimal financial decisions on the path to net-zero, advising on M&A, capital raises, recapitalisations, restructurings, divestitures and IPOs. The Alexa Capital team combines deep industrial relationships and know-how with accomplished execution expertise leveraging proprietary insights. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report. |
POLITICAL DONATIONS AND EXPENDITURE |
The company made charitable donations of £26,439 during the year (2023: £34,498). |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ALEXA CAPITAL LIMITED |
Opinion |
We have audited the financial statements of Alexa Capital Limited (the 'company') for the year ended 31st March 2024 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting |
Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its loss for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Audit Report thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Report of the Directors has been prepared in accordance with applicable legal requirements. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ALEXA CAPITAL LIMITED |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from |
branches not visited by us; or |
- the financial statements are not in agreement with the accounting records and returns; or |
- certain disclosures of directors' remuneration specified by law are not made; or |
- we have not received all the information and explanations we require for our audit. |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, to detect material misstatements in respect of irregularities, including fraud. Based on our understanding of the Company and its industry, we identified that the principal risks of non-compliance with laws and regulations related to Employment Law, Data Protection Law and FCA regulations, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements, such as the Companies Act 2006. |
We evaluated the directors' and management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting manual journal entries to manipulate financial performance and manipulating accounting estimates which could be subject to management bias. |
Our audit procedures were designed to respond to those identified risks, including non-compliance with laws and regulations (irregularities) and fraud that are material to the financial statements. Our audit procedures included but were not limited to: |
- discussing with the directors and management their policies and procedures regarding compliance with laws and regulations; |
- communicating identified laws and regulations throughout our engagement team and remaining alert to any indications of non-compliance throughout our audit; |
- considering the risk of acts by the company which were contrary to applicable laws and regulations, including fraud; |
- verifying employees' right to work in the UK as part of adherence to Employment Law; and |
- reviewing and confirming the appropriate submissions has been made to the FCA |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ALEXA CAPITAL LIMITED |
Our audit procedures in relation to fraud included but were not limited to: |
- making enquiries of the directors and management on whether they had knowledge of any actual, suspected or |
alleged fraud; |
- gaining an understanding of the internal controls established to mitigate risks related to fraud; |
- discussing amongst the engagement team the risks of fraud; |
- addressing the risks of fraud through management override of controls by performing journal entry testing; and |
- testing of accounting estimates which could be subject to management bias. |
There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls. |
A further description of our responsibilities is available on the Financial Reporting Council’s website at: |
https://www.frc.org.uk/auditors responsibilities. This description forms part of our auditor's report. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Accountants and |
Statutory Auditors |
55 Loudoun Road |
St Johns Wood |
London |
NW8 0DL |
ALEXA CAPITAL LIMITED (REGISTERED NUMBER: 10759666) |
INCOME STATEMENT |
FOR THE YEAR ENDED 31 MARCH 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ |
TURNOVER |
Cost of sales | ( |
) | ( |
) |
GROSS PROFIT |
Administrative expenses | ( |
) | ( |
) |
OPERATING LOSS | 5 | ( |
) | ( |
) |
Income from participating interests |
Interest receivable and similar income |
(1,079,372 | ) | (648,576 | ) |
Interest payable and similar expenses | 6 | ( |
) | ( |
) |
LOSS BEFORE TAXATION | ( |
) | ( |
) |
Tax on loss | 7 |
LOSS FOR THE FINANCIAL YEAR | ( |
) | ( |
) |
ALEXA CAPITAL LIMITED (REGISTERED NUMBER: 10759666) |
OTHER COMPREHENSIVE INCOME |
FOR THE YEAR ENDED 31 MARCH 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ |
LOSS FOR THE YEAR | ( |
) | ( |
) |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
( |
) |
( |
) |
ALEXA CAPITAL LIMITED (REGISTERED NUMBER: 10759666) |
STATEMENT OF FINANCIAL POSITION |
31 MARCH 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 8 |
CURRENT ASSETS |
Debtors | 9 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 10 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 13 |
Retained earnings | 14 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
ALEXA CAPITAL LIMITED (REGISTERED NUMBER: 10759666) |
STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 31 MARCH 2024 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 April 2022 |
Changes in equity |
Total comprehensive income | - | ( |
) | ( |
) |
Balance at 31 March 2023 |
Changes in equity |
Total comprehensive income | - | ( |
) | ( |
) |
Balance at 31 March 2024 |
ALEXA CAPITAL LIMITED (REGISTERED NUMBER: 10759666) |
STATEMENT OF CASH FLOWS |
FOR THE YEAR ENDED 31 MARCH 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | ( |
) | ( |
) |
Interest paid | ( |
) | ( |
) |
Tax paid | ( |
) |
Net cash from operating activities | ( |
) | ( |
) |
Cash flows from investing activities |
Interest received |
Profit from LLP |
Net cash from investing activities |
Cash flows from financing activities |
Loan repayments in year | ( |
) | ( |
) |
Net cash from financing activities | ( |
) | ( |
) |
Decrease in cash and cash equivalents | ( |
) | ( |
) |
Cash and cash equivalents at beginning of year | 2 | 4,018,316 |
Cash and cash equivalents at end of year | 2 | 1,118,914 | 1,999,717 |
ALEXA CAPITAL LIMITED (REGISTERED NUMBER: 10759666) |
NOTES TO THE STATEMENT OF CASH FLOWS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
31.3.24 | 31.3.23 |
£ | £ |
Loss before taxation | ( |
) | ( |
) |
Finance costs | 39,131 | 35,711 |
Finance income | (54,314 | ) | (29,096 | ) |
(1,133,686 | ) | (677,672 | ) |
Increase in trade and other debtors | ( |
) | ( |
) |
Increase/(decrease) in trade and other creditors | ( |
) |
Cash generated from operations | ( |
) | ( |
) |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts: |
Year ended 31 March 2024 |
31.3.24 | 1.4.23 |
£ | £ |
Cash and cash equivalents | 1,118,914 | 1,999,717 |
Year ended 31 March 2023 |
31.3.23 | 1.4.22 |
£ | £ |
Cash and cash equivalents | 1,999,717 | 4,018,316 |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.4.23 | Cash flow | At 31.3.24 |
£ | £ | £ |
Net cash |
Cash at bank | 1,999,717 | (880,803 | ) | 1,118,914 |
1,999,717 | ( |
) | 1,118,914 |
Debt |
Debts falling due within 1 year | (160,000 | ) | - | (160,000 | ) |
Debts falling due after 1 year | (360,000 | ) | 160,000 | (200,000 | ) |
(520,000 | ) | 160,000 | (360,000 | ) |
Total | 1,479,717 | (720,803 | ) | 758,914 |
ALEXA CAPITAL LIMITED (REGISTERED NUMBER: 10759666) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Alexa Capital Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses |
Interest receivable |
Interest income is recognised using the effective interest method. |
Cash and cash equivalents |
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less. |
3. | EMPLOYEES AND DIRECTORS |
ALEXA CAPITAL LIMITED (REGISTERED NUMBER: 10759666) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
The average number of employees during the year was 8 (2023 - 6). |
This figure is exclusive of anyone on a consultancy contract and anyone contracted under the service agreement with Alexa Capital Services LLP |
4. | DIRECTORS' EMOLUMENTS |
2024 | 2023 |
£ | £ |
Directors' remuneration | 19,540 | 18,000 |
Information regarding the highest paid director is as follows: |
2024 | 2023 |
£ | £ |
Remuneration | 10,540 | 9,000 |
5. | OPERATING LOSS |
The operating loss is stated after charging: |
31.3.24 | 31.3.23 |
£ | £ |
Auditors' remuneration |
This figure is exclusive of anyone on a consultancy contract and anyone contracted under the service agreement with Alexa Capital Services LLP. |
6. | INTEREST PAYABLE AND SIMILAR EXPENSES |
31.3.24 | 31.3.23 |
£ | £ |
Bank loan interest |
7. | TAXATION |
Analysis of the tax credit |
The tax credit on the loss for the year was as follows: |
31.3.24 | 31.3.23 |
£ | £ |
Current tax: |
UK corporation tax | ( |
) | ( |
) |
Deferred Tax | (279,626 | ) | - |
Tax on loss | ( |
) | ( |
) |
ALEXA CAPITAL LIMITED (REGISTERED NUMBER: 10759666) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
8. | FIXED ASSET INVESTMENTS |
Unlisted |
investments |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Entity | Country of Incorporation | Class | Profit share ratio |
Alexa Capital Services LLP | England and Wales | Equity | 51% |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Tax |
VAT |
Deferred tax asset |
Accrued income |
Prepayments |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans and overdrafts (see note 12) |
Trade creditors |
Social security and other taxes |
Pension payable | 1,541 | 514 |
Accruals |
Deferred income |
11. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans (see note 12) |
ALEXA CAPITAL LIMITED (REGISTERED NUMBER: 10759666) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
12. | LOANS |
An analysis of the maturity of loans is given below: |
31.3.24 | 31.3.23 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
13. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.24 | 31.3.23 |
value: | £ | £ |
Ordinary | £1 | 50,000 | 50,000 |
14. | RESERVES |
Retained |
earnings |
£ |
At 1 April 2023 |
Deficit for the year | ( |
) |
At 31 March 2024 |
15. | RELATED PARTY DISCLOSURES |
Alexa Capital Services LLP |
A partnership where the directors of the company are partners. |
During the year, Alexa Capital Services LLP provided services to Alexa Capital Ltd amounting to £2,126,793 (2023: £2,464,148). |
31.3.24 | 31.3.23 |
£ | £ |
Amount due from related party at the balance sheet date | 136,095 | 112,506 |
16. | ULTIMATE CONTROLLING PARTY |
The company is under the control of the board. |