Company Registration No. 06826090 (England and Wales)
Oxcion Limited
Unaudited accounts
for the year ended 31 December 2024
Oxcion Limited
Statement of financial position
as at 31 December 2024
Intangible assets
482,434
450,716
Tangible assets
660,407
656,648
Cash at bank and in hand
22,750
2,973
Creditors: amounts falling due within one year
(5,229,580)
(4,878,553)
Net current liabilities
(4,795,392)
(4,240,091)
Total assets less current liabilities
(3,652,551)
(3,132,727)
Creditors: amounts falling due after more than one year
(127,155)
(150,440)
Net liabilities
(3,779,706)
(3,283,167)
Called up share capital
100
100
Share premium
402,884
402,884
Profit and loss account
(4,182,690)
(3,686,151)
Shareholders' funds
(3,779,706)
(3,283,167)
For the year ending 31 December 2024 the company was entitled to exemption from audit 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 February 2025 and were signed on its behalf by
A H Jones
Director
Company Registration No. 06826090
Oxcion Limited
Notes to the Accounts
for the year ended 31 December 2024
Oxcion Limited is a private company, limited by shares, registered in England and Wales, registration number 06826090. The registered office is 154C ii Brook Drive, Milton Park, Abingdon, Oxfordshire, OX14 4SD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Tangible assets are included at cost less depreciation and Impairments
Plant & machinery
Tangible assets are included at cost less depreciation & impairment, depreciation has been provided
Fixtures & fittings
Tangible assets are included at cost less depreciation & impairment. Depreciation has been provided
Computer equipment
Tangible assets are included at cost less depreciation & impairment. Depreciation has been provided
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
These accounts have been prepared on a 'going concern' basis.
We are supported by our immediate holding Company Carbon-ion, Energy, Inc. The ultimate holding Company Corporate Universe, Inc is listed on the OTC Markets in New York under symbol COUV.
We have a public listing to secure public funds which are transparent due to the common stock being a listed item.
Oxcion Limited
Notes to the Accounts
for the year ended 31 December 2024
The Company entered into a licensing (royalty) and manufacturing agreement with a Taiwan based manufacture on 19 December 2024. This agreement is to make our Generation 3 of super capacitor. They have an option to also manufacture our Gen 4 when ready.
The manufacture makes 18650 cylinders rather an EV pouches. Testing of the production line is progressing and we expect to be fully operational in Q2. This will mean that our super capacitors will be available into the market place and we expect to be revenue generating in 2025.
As part of this migration process we have gone back to some old pouches made in 2019 and they have been tested at well known academic facility in North Carolina. The results have been encouraging. The W h /Litre performance holding up well to specification.
On 17 February 2025 the Company entered into a Inter-Company Loan Agreement to cover Working Capital and Funding Agreement with Carbon-ion, Inc to cover the funds made available in the past and in the future. This currently stands at some £4.3M and Carbon-ion Energy, Inc has taken secured over our assets to the extent that they are not already secured.
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Intangible fixed assets
Other
At 31 December 2024
482,434
At 31 December 2024
482,434
At 31 December 2023
450,716
These present the Intellectual Property Rights acquired from the ZapGo assets. We have over 100 actively filed worldwide patents of which 64 (PY 39) are granted/issued and the balance are in process. We have further identified over 20 new areas of patent interest.
Oxcion Limited
Notes to the Accounts
for the year ended 31 December 2024
5
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2024
482,434
172,921
1
1,292
656,648
Additions
-
3,759
-
-
3,759
At 31 December 2024
482,434
176,680
1
1,292
660,407
At 31 December 2024
-
-
-
-
-
At 31 December 2024
482,434
176,680
1
1,292
660,407
At 31 December 2023
482,434
172,921
1
1,292
656,648
During the year the Company entered into a charge over certain of the laboratory assets to secure a loan. This was registered at Companies House on 30 September 2024.
The amount attributed to raw material and finished stocks represents the electrolyte and carbon powder acquired in the ZapGo assets from the Administrator.
We have written off to the net realisable value (in 2022) as our intend now is this raw material will be used in our mass manufacturing pre-commerialisation in pilot runs in the future and has no value to us in next 12 months. This asset is being shipped to Taiwan on an 'as need basis' to support the licensing and manufacturing agreement for Gen 3.
The Ionic fluid has been laboratory tested prior to shipment to ensure its of top quality, given its age (made in 2019) and is performing to the original specifications.
Amounts falling due within one year
Accrued income and prepayments
50,674
74,877
Other debtors
360,763
560,611
Oxcion Limited
Notes to the Accounts
for the year ended 31 December 2024
8
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
4,960
Obligations under finance leases and hire purchase contracts
88,019
97,928
Trade creditors
182,046
166,546
Amounts owed to group undertakings and other participating interests
4,310,824
4,289,812
Taxes and social security
-
166,749
Other creditors
119,253
105,593
Loans from directors
48,225
46,965
9
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
127,155
150,440
10
Operating lease commitments
2024
2023
At 31 December 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
91,865
87,992
Later than one year and not later than five years
53,588
107,667
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Average number of employees
During the year the average number of employees was 6 (2023: 8).