Registration number:
Report of the Director and
for the
Year Ended 31 December 2021
for
ARX Alliance Limited
ARX Alliance Limited
Contents of the Financial Statements
for the Year Ended 31 December 2021
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
ARX Alliance Limited
Company Information
for the Year Ended 31 December 2021
Directors: |
A J Runciman J D Stuart A W Turville B Delomenie P S Richardson |
Registered office: |
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Registered number: |
11492489 |
Accountants: |
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ARX Alliance Limited
(Registration number: 11492489)
Balance Sheet as at 31 December 2021
Note |
31.12.21 |
31.12.20 |
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£ |
£ |
£ |
£ |
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FIXED ASSETS |
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Intangible assets |
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Tangible assets |
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- |
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CURRENT ASSETS |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
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Creditors within 1yr |
504,603 |
29,100 |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
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PROVISIONS FOR LIABILITES |
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Net assets |
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CAPITAL AND RESERVES |
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Called up share capital |
2,159 |
2,142 |
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Share premium reserve |
946,156 |
890,037 |
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Other component of equity |
4,924 |
- |
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Profit and loss account |
(116,823) |
16,805 |
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Shareholders' funds |
836,416 |
908,984 |
For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
ARX Alliance Limited
(Registration number: 11492489)
Balance Sheet as at 31 December 2021 (continued)
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 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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ARX Alliance Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2021
1. |
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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.
The presentational currency is Pound Sterling (£).
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
3. |
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
ARX Alliance Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2021 (continued)
4. |
Intangible assets |
Computer |
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Cost or valuation |
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At 1 January 2021 |
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Additions internally developed |
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At 31 December 2021 |
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Amortisation |
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Carrying amount |
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At 31 December 2021 |
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At 31 December 2020 |
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The company is developing software as a product to allow its customers to determine risk associated with their systems. The intangible asset is not amortised during the year as the software is not complete yet.
5. |
Tangible assets |
Office equipment |
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Cost or valuation |
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Additions |
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At 31 December 2021 |
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Depreciation |
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Charge for the year |
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At 31 December 2021 |
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Carrying amount |
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At 31 December 2021 |
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6. |
Debtors |
31.12.21 |
31.12.20 |
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Other debtors |
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Included in other debtors is the R&D tax credit receivable for £120,365.
ARX Alliance Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2021 (continued)
7. |
Creditors |
Creditors: amounts falling due within one year
Note |
31.12.21 |
31.12.20 |
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Due within one year |
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Loans and borrowings |
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- |
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Taxation and social security |
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- |
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Accruals and deferred income |
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Other creditors |
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- |
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8. |
Share capital |
Allotted, called up and fully paid shares
31.12.21 |
31.12.20 |
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No. |
£ |
No. |
£ |
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1,272.42 |
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1,272.42 |
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592.28 |
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575.00 |
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295.00 |
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294.50 |
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9. |
Related party transactions |
Directors' remuneration
The directors' remuneration for the year was as follows:
31.12.21 |
31.12.20 |
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Remuneration |
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- |
ARX Alliance Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2021 (continued)
10. |
Loans and borrowings |
31.12.21 |
31.12.20 |
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Current loans and borrowings |
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Future Fund loan |
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- |
The Future Fund loan is a short-term convertible loan that converts into equity in the next funding round in 2022. The convertible debt has been split with the equity component being recognised separately on the balance sheet. Interest at 9% is accrued on the liability component and the entire amount of the loan together with the accrued interest will be converted into equity at the next funding round which is expected later in 2022.