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REGISTERED NUMBER: 14030237 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

AUDAX MANAGEMENT COMPANY (UK) LIMITED

AUDAX MANAGEMENT COMPANY (UK) LIMITED (REGISTERED NUMBER: 14030237)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


AUDAX MANAGEMENT COMPANY (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







Directors: Mr A H Gardiner
Mr D H Weintraub





Registered office: Suite 2 First Floor
10 Temple Back
Bristol
BS1 6FL





Registered number: 14030237 (England and Wales)





Auditors: Ernst & Young LLP
25 Churchill Place
Canary Wharf
London
E14 5EY

AUDAX MANAGEMENT COMPANY (UK) LIMITED (REGISTERED NUMBER: 14030237)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £   
CURRENT ASSETS
Debtors 4 244,577 120,789
Cash at bank 616,398 16,987
860,975 137,776
CREDITORS
Amounts falling due within one year 5 (600,408 ) (42,377 )
NET CURRENT ASSETS 260,567 95,399
TOTAL ASSETS LESS CURRENT
LIABILITIES

260,567

95,399

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 260,566 95,398
260,567 95,399

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Profit or Loss and Other Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 August 2024 and were signed on its behalf by:





Mr A H Gardiner - Director


AUDAX MANAGEMENT COMPANY (UK) LIMITED (REGISTERED NUMBER: 14030237)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Audax Management Company (UK) Limited ("the Company") is a private company, limited by shares, registered in England and Wales. The Company's registered number and registered office address can be found on the Company Information page.

The company's functional and presentational currency is pounds sterling (GBP) and the financial statements are rounded to the nearest pound (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention and on a going concern basis. The comparative values presented for prior year are for period from 6.4.2022 to 31.12.2022 and therefore the amounts presented in the financial statements are not entirely comparable.

Turnover
Turnover represents amounts charged to the Company's parent under a service agreement, excluding value added tax. Turnover is recognised when chargeable costs are incurred.

Financial instruments
The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at transaction price.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Statement of Profit or Loss and Other Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current taxation is 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to Statement of Profit or Loss and Other Comprehensive Income on a straight-line basis over the period of the lease.

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 Statement of Profit or Loss and Other Comprehensive Income in the period to which they relate.

AUDAX MANAGEMENT COMPANY (UK) LIMITED (REGISTERED NUMBER: 14030237)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Amounts owed by group undertakings 185,047 93,253
Other receivables 20,160 -
Rent deposit 31,200 20,160
VAT receivable 8,170 7,376
244,577 120,789

Amounts owed by group undertakings are interest free, unsecured and repayable on demand.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade creditors 7,200 -
Tax (Note 5) 50,917 22,377
Social security and other taxes 502,291 -
Accrued expenses 40,000 20,000
600,408 42,377

6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/12/23 31/12/22
£    £   
Within one year 126,300 84,000

Operating lease rent charged to Statement of Profit or Loss and Other Comprehensive income for the period amounted to £97,089.

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

Ahmer Huda (Senior Statutory Auditor)
for and on behalf of Ernst & Young LLP

8. ULTIMATE CONTROLLING PARTY

Audax Management Company LLC is the company's immediate and ultimate parent company, with registered office at 101 Huntington Avenue, 24th Floor, Boston, MA 02199 USA. It is also the largest and smallest group in which the results of the company are consolidated.

9. SUBSEQUENT EVENTS

Management has considered the effects, if any, of events occurring after the date of the financial statements and throughout the date the financial statements were authorised to be issued. The Company has concluded that there are no material items that warrant disclosure.