JAXX UK LIMITED

Company Registration Number:
06010822 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

JAXX UK LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

JAXX UK LIMITED

Directors' report period ended 31 December 2023

The directors present their report with the financial statements of the company for the period ended 31 December 2023

Principal activities of the company

The activities of Jaxx UK Limited provided a gaming portal (www. jaxx.com), where clients of the company engaged in online gambling.

Additional information

The Company is a subsidiary undertaking of the ultimate parent company QLI Holding Limited, incorporated and domiciled in Antigua. The address of QLI's registered office is Suite 3, Woods Centre, Friars Hill Rd, St John's, Antigua.



Directors

The directors shown below have held office during the whole of the period from
1 January 2023 to 31 December 2023

Arusha Rahman IQBAL
Herbert Zephaniah JOSEPH
Mark Zakariyya IRVINE
Frank STAHL


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
20 March 2024

And signed on behalf of the board by:
Name: Mark Zakariyya IRVINE
Status: Director

JAXX UK LIMITED

Profit And Loss Account

for the Period Ended 31 December 2023

2023 2022


£

£
Turnover: 633,394 2,588,274
Cost of sales: ( 164,497 ) ( 659,799 )
Gross profit(or loss): 468,897 1,928,475
Distribution costs: 0 ( 679,184 )
Administrative expenses: ( 456,246 ) ( 1,849,614 )
Other operating income: 728,155 0
Operating profit(or loss): 740,806 (600,323)
Interest receivable and similar income: 114,749 6,018
Interest payable and similar charges: ( 1,257 ) ( 143,274 )
Profit(or loss) before tax: 854,298 (737,579)
Tax: ( 23,967 ) ( 27,304 )
Profit(or loss) for the financial year: 830,331 (764,883)

JAXX UK LIMITED

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets:   0 0
Investments:   0 0
Total fixed assets: 0 0
Current assets
Stocks:   0 0
Debtors: 3 1,402 480,641
Cash at bank and in hand: 154,777 108,391
Investments:   0 0
Total current assets: 156,179 589,032
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 4 ( 34,097 ) ( 1,169,783 )
Net current assets (liabilities): 122,082 (580,751)
Total assets less current liabilities: 122,082 ( 580,751)
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 ( 140,034 )
Accruals and deferred income: 0 0
Total net assets (liabilities): 122,082 (720,785)
Capital and reserves
Called up share capital: 3,237,564 3,294,867
Other reserves: (3,115,482) (4,015,652 )
Profit and loss account: 0 0
Total Shareholders' funds: 122,082 (720,785)

The notes form part of these financial statements

JAXX UK LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 20 March 2024
and signed on behalf of the board by:

Name: Mark Zakariyya IRVINE
Status: Director

The notes form part of these financial statements

JAXX UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

    Other accounting policies

    Foreign currency policy Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Note on exchange rates: Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit. Where applicable in the computation, € amounts have been translated to sterling £ at 1.15 Current Tax Income tax expense represents the sum of the tax currently payable and deferred tax.

JAXX UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 4 4

JAXX UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Debtors

2023 2022
£ £
Trade debtors 0 51,867
Prepayments and accrued income 0 23,586
Other debtors 1,402 405,188
Total 1,402 480,641
Debtors due after more than one year: 0 0

JAXX UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 0 425,771
Taxation and social security 23,967 22,719
Accruals and deferred income 10,130
Other creditors 721,293
Total 34,097 1,169,783

JAXX UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Financial Commitments

Financial Commitments The company seeks to minimize its financial risks. In relation to currency movements, the company addresses the risk by matching incoming currency to outgoing currency streams. As such, the majority of the transactions, the company engages in, are denominated in EUR.

JAXX UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Off balance sheet arrangements

Post Balance Sheet Events The company ceased trading as at 31 December 2023. Post year end, the company entered into a Members Voluntary Liquidation on 18th January 2024 and Antoinette Thorpe, Licensed Insolvency Pracitioner was appointed liquidator by the Members.