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REGISTERED NUMBER: 10999327 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

HEXR LTD

HEXR LTD (Registered number: 10999327)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HEXR LTD

Company Information
for the Year Ended 31 December 2023







DIRECTORS: J Cook
G Smith
W Wallace
R Rittson-Thomas





SECRETARY: CC Secretaries Limited





REGISTERED OFFICE: Lock Studios
7 Corsican Square
London
E3 3YD





REGISTERED NUMBER: 10999327 (England and Wales)





ACCOUNTANTS: Wilson Partners Limited
1st Floor
One Suffolk Way
Sevenoaks
Kent
TN13 1YL

HEXR LTD (Registered number: 10999327)

Balance Sheet
31 December 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 460,542 377,528
Tangible assets 5 70,452 72,271
530,994 449,799

CURRENT ASSETS
Debtors 6 902,352 498,525
Cash at bank 3,632,270 5,914,187
4,534,622 6,412,712
CREDITORS
Amounts falling due within one year 7 258,685 223,212
NET CURRENT ASSETS 4,275,937 6,189,500
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,806,931

6,639,299

CREDITORS
Amounts falling due after more than one year 8 9,240 15,572
NET ASSETS 4,797,691 6,623,727

CAPITAL AND RESERVES
Called up share capital 9 252 252
Share premium 10 12,631,618 12,631,618
Share option reserve 10 68,922 64,825
Retained earnings 10 (7,903,101 ) (6,072,968 )
SHAREHOLDERS' FUNDS 4,797,691 6,623,727

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HEXR LTD (Registered number: 10999327)

Balance Sheet - continued
31 December 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by:





J Cook - Director


HEXR LTD (Registered number: 10999327)

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


1. STATUTORY INFORMATION

HEXR LTD 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 presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the company's accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The company does not make significant estimates and assumptions concerning the future.

Turnover
Turnover is measure at the fair value of the consideration received or receivable.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost and 20% on cost
Computer equipment - 33% on cost

Financial instruments
Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with changes recognised in profit and loss.

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 balance sheet date.


HEXR LTD (Registered number: 10999327)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Going concern
The accounts are prepared on a going concern basis as in the opinion of the directors the company has sufficient finance available to it to meet its obligations as they fall due for the foreseeable future, that is at least 12 months from the date of approval of the accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 492,663
Additions 206,266
At 31 December 2023 698,929
AMORTISATION
At 1 January 2023 115,135
Charge for year 123,252
At 31 December 2023 238,387
NET BOOK VALUE
At 31 December 2023 460,542
At 31 December 2022 377,528

HEXR LTD (Registered number: 10999327)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 45,848 77,025 122,873
Additions 28,603 1,192 29,795
At 31 December 2023 74,451 78,217 152,668
DEPRECIATION
At 1 January 2023 11,568 39,034 50,602
Charge for year 13,308 18,306 31,614
At 31 December 2023 24,876 57,340 82,216
NET BOOK VALUE
At 31 December 2023 49,575 20,877 70,452
At 31 December 2022 34,280 37,991 72,271

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Other debtors 902,352 498,525

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade creditors 94,438 103,460
Taxation and social security 45,540 26,072
Other creditors 118,707 93,680
258,685 223,212

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
as restated
£    £   
Other creditors 9,240 15,572

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: as restated
£    £   
1,998,212 Ordinary 0.000 1 200 200
519,288 A Preferred 0.000 1 52 52
252 252

1,157 Ordinary shares of 0.0001 each were allotted and fully paid for cash at par during the year.

HEXR LTD (Registered number: 10999327)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


10. RESERVES
Share
Retained Share option
earnings premium reserve Totals
£    £    £    £   

At 1 January 2023 (5,990,814 ) 12,631,618 64,825 6,705,629
Prior year adjustment (82,154 ) (82,154 )
(6,072,968 ) 6,623,475
Deficit for the year (1,830,133 ) (1,830,133 )
Share options vested - - 4,097 4,097
At 31 December 2023 (7,903,101 ) 12,631,618 68,922 4,797,439

The company has an equity settled option scheme.

The company has 355,016 options outstanding at the end of the period. These were granted over 5 years at an exercise price of £0.01.

The company has 160,286 (2022: 84,000) exercisable options at the end of the period.

The fair value of the share options has been valued upon the unrestricted market value.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J Cook.