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Registration number: 09721410

AXenic Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

AXenic Holdings Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

AXenic Holdings Limited

Company Information

Director

Mr Stephen Clements

Registered office

Netpark Incubator Thomas Wright Way
Sedgefield
Co Durham
Cleveland
TS21 3FD

Accountants

Melrose Accountants
Accountants
62 Florence Road
Brighton
East Sussex
BN1 6DJ

 

AXenic Holdings Limited

(Registration number: 09721410)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

1

1

Current assets

 

Cash at bank and in hand

 

77

77

Net assets

 

78

78

Capital and reserves

 

Called up share capital

5

8,385

8,385

Share premium reserve

867,254

867,254

Retained earnings

(875,561)

(875,561)

Shareholders' funds

 

78

78

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 21 January 2025
 

.........................................
Mr Stephen Clements
Director

 

AXenic Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in Englan and Wales.

The address of its registered office is:
Netpark Incubator Thomas Wright Way
Sedgefield
Co Durham
Cleveland
TS21 3FD

These financial statements were authorised for issue by the director on 21 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Summary of disclosure exemptions

The Company is exempt from producing consolidated financial statements as it qualifies as part of a small group.

Going concern

The financial statements have been prepared on a going concern basis.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

AXenic Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Investments

2024
£

2023
£

Investments in subsidiaries

1

1

Subsidiaries

£

Cost or valuation

At 1 May 2023

1

Provision

Carrying amount

At 30 April 2024

1

At 30 April 2023

1

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

 

AXenic Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

AXenic Limited

NETPark Incubator, Thomas Wright Way, Sedgefield, Co Durham, TS21 3FD

England

Ordinary shares

100%

100%

Subsidiary undertakings

AXenic Limited

The principal activity of AXenic Limited is design, development and production of optical modulators.

5

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

A Ordinary shares of £0.01 each

6,100

61.00

6,100

61.00

B Ordinary shares of £0.01 each

1,900

19.00

1,900

19.00

Preference shares of £1 each

8,305

8,305

8,305

8,305

 

16,305

8,385

16,305

8,385