Registration number:
Report of the Director and
for the
Year Ended 31 December 2022
for
ARX Alliance Limited
ARX Alliance Limited
Contents of the Financial Statements
for the Year Ended 31 December 2022
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 2022
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 2022
Note |
31.12.22 |
31.12.21 |
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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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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 |
217,049 |
504,603 |
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Net current assets/(liabilities) |
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( |
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Total assets less current liabilities |
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Creditors
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- |
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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 |
2,543 |
2,159 |
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Share premium reserve |
1,595,335 |
946,156 |
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Other component of equity |
6,846 |
4,924 |
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Profit and loss account |
(444,458) |
(116,823) |
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Shareholders' funds |
1,160,266 |
836,416 |
For the financial year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
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 2022 (continued)
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 directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
.............................. |
ARX Alliance Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2022
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 (£).
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
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.
ARX Alliance Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2022 (continued)
2 |
Accounting policies (continued) |
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
4. |
Intangible assets |
Computer |
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Cost or valuation |
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At 1 January 2022 |
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Additions internally developed |
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At 31 December 2022 |
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Amortisation |
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Carrying amount |
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At 31 December 2022 |
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At 31 December 2021 |
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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.
ARX Alliance Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2022 (continued)
5. |
Tangible assets |
Office equipment |
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Cost or valuation |
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At 1 January 2022 |
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Additions |
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At 31 December 2022 |
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Depreciation |
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At 1 January 2022 |
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Charge for the year |
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At 31 December 2022 |
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Carrying amount |
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At 31 December 2022 |
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At 31 December 2021 |
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6. |
Debtors |
31.12.22 |
31.12.21 |
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Other debtors |
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Included in other debtors is the R&D tax credit receivable for £202,300.
ARX Alliance Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2022 (continued)
7. |
Creditors |
Creditors: amounts falling due within one year
Note |
31.12.22 |
31.12.21 |
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Due within one year |
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Loans and borrowings |
- |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
31.12.22 |
31.12.21 |
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Due after one year |
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Loans and borrowings |
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- |
8. |
Share capital |
Allotted, called up and fully paid shares
31.12.22 |
31.12.21 |
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No. |
£ |
No. |
£ |
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1,445.37 |
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1,272.42 |
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592.28 |
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592.28 |
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505.96 |
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295.00 |
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9. |
Related party transactions |
Directors' remuneration
The directors' remuneration for the year was as follows:
31.12.22 |
31.12.21 |
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Remuneration |
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ARX Alliance Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2022 (continued)
10. |
Loans and borrowings |
31.12.22 |
31.12.21 |
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Non-current loans and borrowings |
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10% Convertible loan note |
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- |
31.12.22 |
31.12.21 |
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Current loans and borrowings |
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Future Fund loan |
- |
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During the year, the future fund loan was converted into 21,096 series seed shares.
During the year, the company issued a 10% convertible loan with a maturity date of 28/09/2024. The convertible loan note has been split with the equity component being recognised separately on the balance sheet.