Company Registration No. 14147323 (England and Wales)
AXIUM INFRASTRUCTURE UK LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
AXIUM INFRASTRUCTURE UK LTD
COMPANY INFORMATION
Directors
I Tagarov
S Mailhot
E Lejay
J Caceres
Company number
14147323
Registered office
Savoystrand
105 Strand
London
WC2R 0AA
United Kingdom
Auditor
HW Fisher LLP
Acre House
11-15 William Road
London
NW1 3ER
United Kingdom
AXIUM INFRASTRUCTURE UK LTD
CONTENTS
Page
Directors' report
1
Directors' responsibilities statement
2
Independent auditor's report
3 - 5
Group statement of comprehensive income
6
Group balance sheet
7
Company balance sheet
8
Group statement of changes in equity
9
Company statement of changes in equity
10
Notes to the financial statements
11 - 17
AXIUM INFRASTRUCTURE UK LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 1 -

The directors present their annual report and financial statements for the year ended 31 December 2023.

Principal activities

The principal activity of the company and group continued to be that of the management of investment portfolios relating to infrastructure projects.

Results and dividends

No ordinary dividends were paid. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

I Tagarov
S Mailhot
E Lejay
J Caceres
P Anctil
(Resigned 26 September 2023)
Auditor

HW Fisher LLP were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
J Caceres
Director
22 May 2024
AXIUM INFRASTRUCTURE UK LTD
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -

The directors are responsible for preparing the Annual Report 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 group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

AXIUM INFRASTRUCTURE UK LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF AXIUM INFRASTRUCTURE UK LTD
- 3 -
Opinion

We have audited the financial statements of Axium Infrastructure UK Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2023 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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:

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 Auditor's 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 group's and parent 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

AXIUM INFRASTRUCTURE UK LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF AXIUM INFRASTRUCTURE UK LTD
- 4 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.

 

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:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, 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 is 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 parent 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.

Auditor's 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 an auditor's report 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, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

 

As part of our planning process:

AXIUM INFRASTRUCTURE UK LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF AXIUM INFRASTRUCTURE UK LTD
- 5 -

The key procedures we undertook to detect irregularities including fraud during the course of the audit included:

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and performed our audit in accordance with auditing standards. The primary responsibility for the prevention and detection of irregularities and fraud rests with the directors of the company.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 an auditor's report 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.

Gilles Siow (Senior Statutory Auditor)
For and on behalf of HW Fisher LLP
Chartered Accountants
Statutory Auditor
Acre House
11-15 William Road
London
NW1 3ER
United Kingdom
22 May 2024
AXIUM INFRASTRUCTURE UK LTD
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
Year
Period
ended
ended
31 December
31 December
2023
2022
Notes
£
£
Turnover
6,779,484
1,926,176
Administrative expenses
(3,482,186)
(1,138,204)
Operating profit
3,297,298
787,972
Interest receivable and similar income
3
4
-
0
Profit before taxation
3,297,302
787,972
Tax on profit
(788,966)
(157,142)
Profit for the financial year
2,508,336
630,830
Other comprehensive income
Currency translation differences
216
-
0
Total comprehensive income for the year
2,508,552
630,830
Profit for the financial year is all attributable to the owners of the parent company.
Total comprehensive income for the year is all attributable to the owners of the parent company.
AXIUM INFRASTRUCTURE UK LTD
GROUP BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 7 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
-
-
Tangible assets
4
428,032
464,926
Current assets
Debtors
7
4,861,864
1,453,284
Cash at bank and in hand
500,087
-
5,361,951
1,453,284
Creditors: amounts falling due within one year
8
(2,636,963)
(1,202,071)
Net current assets
2,724,988
251,213
Total assets less current liabilities
3,153,020
716,139
Creditors: amounts falling due after more than one year
9
-
(71,671)
Provisions for liabilities
(12,638)
(12,638)
Net assets
3,140,382
631,830
Capital and reserves
Called up share capital
10
1,000
1,000
Profit and loss reserves
3,139,382
630,830
Total equity
3,140,382
631,830

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

The financial statements were approved by the board of directors and authorised for issue on 22 May 2024 and are signed on its behalf by:
J Caceres
Director
AXIUM INFRASTRUCTURE UK LTD
COMPANY BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 8 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
428,032
464,926
Investments
5
1,000
-
0
429,032
464,926
Current assets
Debtors
7
4,834,819
1,453,284
Cash at bank and in hand
500,087
-
0
5,334,906
1,453,284
Creditors: amounts falling due within one year
8
(2,580,271)
(1,189,571)
Net current assets
2,754,635
263,713
Total assets less current liabilities
3,183,667
728,639
Creditors: amounts falling due after more than one year
9
-
(71,671)
Provisions for liabilities
(12,638)
(12,638)
Net assets
3,171,029
644,330
Capital and reserves
Called up share capital
10
1,000
1,000
Profit and loss reserves
3,170,029
643,330
Total equity
3,171,029
644,330

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £2,526,699 (2022 - £643,330 profit).

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

The financial statements were approved by the board of directors and authorised for issue on 22 May 2024 and are signed on its behalf by:
J Caceres
Director
Company Registration No. 14147323
AXIUM INFRASTRUCTURE UK LTD
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 9 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 June 2022
-
0
-
0
-
Period ended 31 December 2022:
Profit and total comprehensive income for the period
-
630,830
630,830
Issue of share capital
10
1,000
-
1,000
Balance at 31 December 2022
1,000
630,830
631,830
Year ended 31 December 2023:
Profit for the year
-
2,508,336
2,508,336
Other comprehensive income:
Currency translation differences
-
216
216
Total comprehensive income for the year
-
2,508,552
2,508,552
Balance at 31 December 2023
1,000
3,139,382
3,140,382
AXIUM INFRASTRUCTURE UK LTD
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 10 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 June 2022
-
0
-
0
-
Period ended 31 December 2022:
Profit and total comprehensive income for the period
-
643,330
643,330
Issue of share capital
10
1,000
-
1,000
Balance at 31 December 2022
1,000
643,330
644,330
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
2,526,699
2,526,699
Balance at 31 December 2023
1,000
3,170,029
3,171,029
AXIUM INFRASTRUCTURE UK LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 11 -
1
Accounting policies
Company information

Axium Infrastructure UK Ltd (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Savoystrand, 105 Strand, London, United Kingdom, WC2R 0AA.

 

The group consists of Axium Infrastructure UK Ltd and all of its subsidiaries.

1.1
Reporting period

The accounts relate to 12 months from 1 January 2023 to 31 December 2023. The comparative figures relate to the period from 1 June 2022 to 31 December 2022.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Business combinations

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill.

1.4
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Axium Infrastructure UK Ltd together with all entities controlled by the parent company (its subsidiaries).

 

All financial statements are made up to 31 December 2023. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

 

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

1.5
Going concern

In preparing their financial statements, the directors have considered the entity's sole reliance on its parent company to continue trading. The parent company has sufficient cash resources and have confirmed that it will continue to support the entity for at least 12 months from the date of approval of the financial statements. Accordingly, at the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

AXIUM INFRASTRUCTURE UK LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 12 -
1.6
Turnover

Turnover in these financial statements represents a reallocation of profit from the group based on the percentage of group activities carried out by employees of the UK company. Turnover is recognised at the fair value of the consideration receivable for services provided in the normal course of business, when the services have been performed.

 

1.7
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
10% straight line
Fixtures and fittings
Between 20% - 33% straight line
Computers
Between 20% - 33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.8
Fixed asset investments

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

 

In the parent company financial statements, investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.9
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

1.10
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

AXIUM INFRASTRUCTURE UK LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 13 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, and amounts due from fellow group companies and are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

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 recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.11
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.12
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.15
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

AXIUM INFRASTRUCTURE UK LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 14 -
1.16
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

 

The trading results of the group's subsidiary are translated into sterling at exchange rates at the dates of the transactions. The assets and liabilities of the subsidiary are translated at the exchange rates prevailing on the reporting date. Gains and losses arising on translation are recognised in ‘Other comprehensive income’.

2
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2023
2022
2023
2022
Number
Number
Number
Number
Total
3
1
3
1
3
Interest receivable and similar income
2023
2022
£
£
Other interest receivable and similar income
4
-
4
Tangible fixed assets
Group
Leasehold improvements
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 January 2023
425,000
38,678
14,111
477,789
Additions
15,223
-
0
6,110
21,333
At 31 December 2023
440,223
38,678
20,221
499,122
Depreciation and impairment
At 1 January 2023
10,625
1,137
1,101
12,863
Depreciation charged in the year
43,921
7,736
6,570
58,227
At 31 December 2023
54,546
8,873
7,671
71,090
Carrying amount
At 31 December 2023
385,677
29,805
12,550
428,032
At 31 December 2022
414,375
37,541
13,010
464,926
AXIUM INFRASTRUCTURE UK LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
4
Tangible fixed assets
(Continued)
- 15 -
Company
Leasehold improvements
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 January 2023
425,000
38,678
14,111
477,789
Additions
15,223
-
0
6,110
21,333
At 31 December 2023
440,223
38,678
20,221
499,122
Depreciation and impairment
At 1 January 2023
10,625
1,137
1,101
12,863
Depreciation charged in the year
43,921
7,736
6,570
58,227
At 31 December 2023
54,546
8,873
7,671
71,090
Carrying amount
At 31 December 2023
385,677
29,805
12,550
428,032
At 31 December 2022
414,375
37,541
13,010
464,926
5
Fixed asset investments
Group
Company
2023
2022
2023
2022
£
£
£
£
Shares in group undertakings
-
-
1,000
-
6
Subsidiaries

Details of the company's subsidiaries at 31 December 2023 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Axium Europe Partner Ltd
England and Wales
Ordinary
100.00

Section 479A parent company guarantee

For the financial period ended 31 December 2023, the company’s subsidiary Axium Europe Partner Ltd has taken the audit exemption in their individual accounts under Section 479A of the Companies Act 2006. The outstanding liabilities at the balance sheet date of Axium Europe Partner Ltd have been guaranteed by the company pursuant to Section 479A and Section 479C of the Companies Act 2006.

AXIUM INFRASTRUCTURE UK LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 16 -
7
Debtors
Group
Company
2023
2022
2023
2022
Amounts falling due within one year:
£
£
£
£
Amounts owed by group undertakings
4,715,751
1,290,738
4,688,706
1,290,738
Other debtors
45,795
66,919
45,795
66,919
Prepayments and accrued income
100,318
95,627
100,318
95,627
4,861,864
1,453,284
4,834,819
1,453,284
8
Creditors: amounts falling due within one year
Group
Company
2023
2022
2023
2022
£
£
£
£
Trade creditors
4,589
67,430
4,589
57,430
Amounts owed to group undertakings
54,198
-
0
-
0
-
0
Corporation tax payable
788,466
144,504
788,466
144,504
Other creditors
1,518,569
972,137
1,518,569
972,137
Accruals and deferred income
271,141
18,000
268,647
15,500
2,636,963
1,202,071
2,580,271
1,189,571
9
Creditors: amounts falling due after more than one year
Group
Company
2023
2022
2023
2022
£
£
£
£
Accruals and deferred income
-
0
71,671
-
0
71,671
10
Share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000
AXIUM INFRASTRUCTURE UK LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 17 -
11
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

Group
Company
2023
2022
2023
2022
£
£
£
£
Within one year
297,063
273,460
297,063
273,460
Between two and five years
1,188,250
1,188,250
1,188,250
1,188,250
In over five years
227,070
524,132
227,070
524,132
1,712,383
1,985,842
1,712,383
1,985,842
12
Related party transactions

During the year the group entered into the following transactions with related parties:

 

One of the directors received a carried interest payment of £18,825 (2022: £nil) in relation to investment in the PSU programme.

 

At the year end date, the following balances are due form the following entities under common control:-

 

Related parties

£

Axium Infrastructure Europe Holding Limited

24,699

Axium Infrastructure EUR Holdco Limited

13,337

Axium UK LTC Ltd

10,731

Axium Infrastructure Europe Renewable

74,891

Axium US LP

918

 

13
Controlling party

The ultimate parent company is Axium Infrastructure Inc, whose registered office address is 2020 Blvd Robert-Bourassa Bureau 2500 Montreal, QC H3A 2A5 Canada.

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