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Company No: 06154507 (England and Wales)

AUDAX GLOBAL SOLUTIONS LIMITED

Unaudited Financial Statements
For the financial year ended 28 February 2025
Pages for filing with the registrar

AUDAX GLOBAL SOLUTIONS LIMITED

Unaudited Financial Statements

For the financial year ended 28 February 2025

Contents

AUDAX GLOBAL SOLUTIONS LIMITED

BALANCE SHEET

As at 28 February 2025
AUDAX GLOBAL SOLUTIONS LIMITED

BALANCE SHEET (continued)

As at 28 February 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 4 7,868 9,585
7,868 9,585
Current assets
Stocks 232,258 65,795
Debtors 5 110,686 1,349,518
Cash at bank and in hand 111,500 54,911
454,444 1,470,224
Creditors: amounts falling due within one year 6 ( 123,628) ( 1,048,288)
Net current assets 330,816 421,936
Total assets less current liabilities 338,684 431,521
Provision for liabilities ( 1,411) ( 2,396)
Net assets 337,273 429,125
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 337,173 429,025
Total shareholders' funds 337,273 429,125

For the financial year ending 28 February 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Audax Global Solutions Limited (registered number: 06154507) were approved and authorised for issue by the Board of Directors on 10 June 2025. They were signed on its behalf by:

Mr A J Liardet
Director
AUDAX GLOBAL SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2025
AUDAX GLOBAL SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Audax Global Solutions Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3GW, United Kingdom. The principal place of business is 1 Endurance House, Parkway Court, Longbridge Road, Plymouth, Devon, PL6 8LR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software 5 years straight line
Development costs 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Office equipment 33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Other Grants

Grants in respect of revenue expenditure are treated as other operating income in the profit and loss account.

Deferred grants in respect of capital expenditure are treated as deferred income and are credited to the profit and loss account over the estimated useful life to the assets which they relate.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 5

3. Intangible assets

Computer software Development costs Total
£ £ £
Cost
At 29 February 2024 4,630 550,447 555,077
At 28 February 2025 4,630 550,447 555,077
Accumulated amortisation
At 29 February 2024 4,630 550,447 555,077
At 28 February 2025 4,630 550,447 555,077
Net book value
At 28 February 2025 0 0 0
At 28 February 2024 0 0 0

4. Tangible assets

Office equipment Total
£ £
Cost
At 29 February 2024 46,874 46,874
Additions 2,156 2,156
At 28 February 2025 49,030 49,030
Accumulated depreciation
At 29 February 2024 37,289 37,289
Charge for the financial year 3,873 3,873
At 28 February 2025 41,162 41,162
Net book value
At 28 February 2025 7,868 7,868
At 28 February 2024 9,585 9,585

5. Debtors

2025 2024
£ £
Trade debtors 70,574 1,314,455
Other debtors 40,112 35,063
110,686 1,349,518

6. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 25,197 431,992
Taxation and social security 19,361 288,638
Other creditors 79,070 327,658
123,628 1,048,288

7. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
95 Ordinary A shares of £ 1.00 each 95 95
5 Ordinary B shares of £ 1.00 each 5 5
100 100

8. Off Balance Sheet arrangements

The total amount of financial commitments not included in the balance sheet is £1,652.83 (2024 - £4,315.35)