REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 |
FOR |
AXSY SOFTWARE (UK) LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 |
FOR |
AXSY SOFTWARE (UK) LTD |
AXSY SOFTWARE (UK) LTD (REGISTERED NUMBER: 08579879) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
AXSY SOFTWARE (UK) LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST DECEMBER 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AXSY SOFTWARE (UK) LTD (REGISTERED NUMBER: 08579879) |
BALANCE SHEET |
31ST DECEMBER 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his 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. |
AXSY SOFTWARE (UK) LTD (REGISTERED NUMBER: 08579879) |
BALANCE SHEET - continued |
31ST DECEMBER 2024 |
The financial statements were approved by the director and authorised for issue on |
AXSY SOFTWARE (UK) LTD (REGISTERED NUMBER: 08579879) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2024 |
1. | STATUTORY INFORMATION |
Axsy Software (UK) Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
At the year-end, the company balance sheet had net current liabilities and net liabilities. These financial statements have been prepared on the going concern basis, which is dependent on the following considerations by the directors: |
- Financial projections indicate that the company will continue to meet its liabilities as they fall due over the next twelve months. |
- The company has received assurance from its ultimate parent undertaking that they will continue to provide financial and other supports to meet its liabilities as they fall due for at least next twelve months from the date of signing these financial statements. |
Turnover |
Turnover comprises income from software licences, fees for the right to use managed Software as a Service ('mSaaS'), and the sale of hardware. Income from software licences is recognised according to the contractual agreements with customers. |
Income from mSaaS is recognised pro-rata over the period of the contract. Hardware sales are recognised when delivery takes place. |
In all cases, income is deferred if invoiced and/or received prior to recognition, and accrued if invoiced and or received after the date of recognition. |
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. |
Tangible fixed assets |
Plant and machinery etc | - |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
AXSY SOFTWARE (UK) LTD (REGISTERED NUMBER: 08579879) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2024 |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1st January 2024 |
Additions |
At 31st December 2024 |
AMORTISATION |
At 1st January 2024 |
Charge for year |
At 31st December 2024 |
NET BOOK VALUE |
At 31st December 2024 |
At 31st December 2023 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st January 2024 |
Additions |
At 31st December 2024 |
DEPRECIATION |
At 1st January 2024 |
Charge for year |
At 31st December 2024 |
NET BOOK VALUE |
At 31st December 2024 |
At 31st December 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
AXSY SOFTWARE (UK) LTD (REGISTERED NUMBER: 08579879) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed to group undertakings |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | 1.00 | 1 | 1 |
10. | ULTIMATE CONTROLLING PARTY |
Axsy Inc (incorporated in USA) is regarded by the director as being the company's ultimate parent company. |