4 false false false false false false false false false false true false false false false false false No description of principal activity 2023-12-07 Sage Accounts Production Advanced 2023 - FRS102_2023 7,522,928 7,522,928 7,522,928 xbrli:pure xbrli:shares iso4217:GBP 15334118 2023-12-07 2025-03-31 15334118 2025-03-31 15334118 2023-12-06 15334118 bus:Director3 2023-12-07 2025-03-31 15334118 core:WithinOneYear 2025-03-31 15334118 core:AfterOneYear 2025-03-31 15334118 core:ShareCapital 2025-03-31 15334118 core:RetainedEarningsAccumulatedLosses 2025-03-31 15334118 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2025-03-31 15334118 core:CostValuation core:Non-currentFinancialInstruments 2025-03-31 15334118 core:Non-currentFinancialInstruments 2025-03-31 15334118 bus:SmallEntities 2023-12-07 2025-03-31 15334118 bus:AuditExemptWithAccountantsReport 2023-12-07 2025-03-31 15334118 bus:SmallCompaniesRegimeForAccounts 2023-12-07 2025-03-31 15334118 bus:PrivateLimitedCompanyLtd 2023-12-07 2025-03-31 15334118 bus:FullAccounts 2023-12-07 2025-03-31 15334118 core:AllAssociates 2023-12-07 2025-03-31
COMPANY REGISTRATION NUMBER: 15334118

Praxis42 Holdings Limited

Unaudited financial statements

31 March 2025

Praxis42 Holdings Limited

Statement of financial position

31 March 2025

| 31 Mar 25
Note | £ | £

Fixed assets

Investments | 5 |  | 7,522,928

Current assets

Debtors | 6 | 44,450 |

Creditors: Amounts falling due within one year | 7 | ( 1,110,379) |
| ----------- |
Net current liabilities |  | ( 1,065,929)
|  | -----------
Total assets less current liabilities |  | 6,456,999

Creditors: Amounts falling due after more than one year | 8 |  | ( 4,974,771)
|  | -----------
Net assets |  | 1,482,228
|  | -----------

Capital and reserves

Called up share capital |  | 1,295,000
Profit and loss account |  | 187,228
|  | -----------
Shareholders funds |  | 1,482,228
|  | -----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 4 September 2025 , and are signed on behalf of the board by:

T R Paxman
Director

Company registration number: 15334118

Praxis42 Holdings Limited

Notes to the financial statements

Period from 7 December 2023 to 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Mercury House, Hadleigh Enterprise Park, Crockatt Road, Hadleigh, Ipswich, IP7 6RJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of employees during the period was 4 .
5. Investments

| Shares in group undertakings
| £
Cost |
At 7 December 2023 | –
Additions | 7,522,928
| -----------
At 31 March 2025 | 7,522,928
| -----------
Impairment |
At 7 December 2023 and 31 March 2025 | –
| -----------

Carrying amount |
At 31 March 2025 | 7,522,928
| -----------

6. Debtors

| 31 Mar 25
| £
Other debtors | 44,450
| -------

7. Creditors: Amounts falling due within one year

| 31 Mar 25
| £
Bank loans and overdrafts | 438,379
Amounts owed to group undertakings | 501,107
Other creditors | 170,893
| -----------
| 1,110,379
| -----------

Bank loans totalling £438,379 are secured by way of a fixed and floating charge over all property and assets present and future. Interest is charged on this loan at 10.75% per annum. The loan is due to mature in February 2029. Praxis42 Limited has provided a cross company guarantee to secure the bank loan. The maximum amount secured under this arrangement is £438,379.
8. Creditors: Amounts falling due after more than one year

| 31 Mar 25
| £
Bank loans and overdrafts | 2,120,745
Other creditors | 2,854,026
| -----------
| 4,974,771
| -----------

Bank loans totalling £2,120,745 are secured by way of a fixed and floating charge over all property and assets present and future. Interest is charged on this loan at 10.75% per annum. The loan is due to mature in February 2029. Praxis42 Limited has provided a cross company guarantee to secure the bank loan. The maximum amount secured under this arrangement is £2,120,745. Praxis42 Limited and ComplyNet Limited have provided cross company guarantees to secure loan notes held by Praxis42 Holdings Limited . The maximum amount secured under this arrangement is £1,286,000. Interest is charged on the loan notes at 10.00% per annum, payable to the holders of the loan notes annually. The loan notes are due to mature in February 2029.
9. Related party transactions
During the year, an intercompany loan totalling £501,107 was advanced to Praxis42 Holdings Limited from Praxis42 Limited. The loan is interest free.