C2X LTD
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Next accounts due
2027-09-30 (in 1y)
Last filed for 2025-12-31
Confirmation statement due
2026-12-06 (in 7mo)
Last made up 2025-11-22
Watchouts
Cash
£22M
USD 29,164,125
Latest balance sheet
Net assets
£112M
USD 149,435,845
Equity attributable
Employees
24
Average over period
Profit before tax
-£7M
USD -9,497,292
Period ending 2025-12-31
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
The Company's ability to continue as a going concern is therefore dependent on raising further funding and on the timely achievement of key project milestones of the Company and its subsidiaries. These conditions represent a material uncertainty that may cast significant doubt upon the Company's ability to continue as a going concern.
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · latest reflected 2025-12-31
| Metric | Trend | 2024-12-31 | 2025-12-31 |
|---|---|---|---|
| Turnover | — | — | |
| Operating profit | -£13,861,325 | -£10,369,308 | |
| Profit before tax | -£14,918,784 | -£7,099,717 | |
| Net profit | -£14,918,784 | -£7,099,717 | |
| Cash | £10,558,136 | £21,801,693 | |
| Total assets less current liabilities | — | — | |
| Net assets | £32,963,958 | £111,711,030 | |
| Equity | £32,963,958 | £111,711,030 | |
| Average employees | 7 | 24 | |
| Wages | £5,528,619 | £7,257,143 | |
| Directors' remuneration | £1,492,113 | £610,736 |
Figures converted to GBP from USD at 0.748 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. About these numbers
Year-on-year
FY2024 → FY2025 · period ending 2025-12-31 vs 2024-12-31
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-12-31 | 2025-12-31 |
|---|---|---|---|
| Gearing (liabilities / total assets) | 31.6% | 3.2% | |
| Current ratio | 0.71x | 7.32x | |
| Interest cover | -7.34x | -19.81x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Name history
Renamed 1 time since incorporation
- C2X LTD 2023-09-19 → present
- PHOENIX X UK HOLDING, LTD. 2023-08-25 → 2023-09-19
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Standalone (parent only)
- Auditor
- Grant Thornton UK LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“The Company's ability to continue as a going concern is therefore dependent on raising further funding and on the timely achievement of key project milestones of the Company and its subsidiaries. These conditions represent a material uncertainty that may cast significant doubt upon the Company's ability to continue as a going concern.”
Group structure
- C2X LTD · parent
- C2X LLC 100%
- C2X Holdco, SL 100%
- C2X Energy, SL 100%
- C2X Spain Spv II, SL 100%
- C2X Spain Inv III, SL 100%
- C2X US LLC 100%
- SunGas Renewables Inc 59%
- Beaver Lake Renewable Energy, LLC 59%
- Beaver Lake Renewable Methanol One, LLC 59%
Significant events
- “There are no significant post balance sheet events to report.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 3 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MUSSO, Livia Francesca | Secretary | 2025-06-06 | — | — |
| DAVIS, Brian Charles | Director | 2023-08-25 | Jan 1966 | British |
| NIELSEN, Jan Thorsgaard | Director | 2024-11-05 | Jun 1974 | Danish |
| OTATSUME, Satoru | Director | 2025-05-23 | Feb 1976 | Japanese |
| RISAGER, Steffen | Director | 2025-08-12 | Jun 1976 | Danish |
| WIKSTROM, Peter Ingvar Anders | Director | 2024-11-05 | Nov 1975 | Swedish |
Show 3 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| IBSEN, Simon Krogsgaard | Director | 2023-08-25 | 2024-11-05 |
| LARSEN, Martin Nørkjær | Director | 2024-11-05 | 2025-08-12 |
| MAXWELL, Alastair John Charlton | Director | 2023-08-25 | 2024-11-05 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Birgitte Possing | Individual | ownership-of-shares-75-to-100-percent-as-firm, voting-rights-75-to-100-percent-as-firm, right-to-appoint-and-remove-directors-as-firm | 2023-08-25 | Active |
| Alette Maersk Mc-Kinney Sorenson | Individual | ownership-of-shares-75-to-100-percent-as-firm, voting-rights-75-to-100-percent-as-firm, right-to-appoint-and-remove-directors-as-firm | 2023-08-25 | Active |
| Ane Maersk Mc Kinney Uggla | Individual | ownership-of-shares-75-to-100-percent-as-firm, voting-rights-75-to-100-percent-as-firm, right-to-appoint-and-remove-directors-as-firm | 2023-08-25 | Active |
| Claus Michael Valentin Hemmingsen | Individual | ownership-of-shares-75-to-100-percent-as-firm, voting-rights-75-to-100-percent-as-firm, right-to-appoint-and-remove-directors-as-firm | 2023-08-25 | Active |
| Lars-Erik Brenoe | Individual | ownership-of-shares-75-to-100-percent-as-firm, voting-rights-75-to-100-percent-as-firm, right-to-appoint-and-remove-directors-as-firm | 2023-08-25 | Active |
Filing timeline
Last 20 of 28 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-06-05 MA Memorandum articles
- 2025-06-05 RESOLUTIONS Resolution
- 2025-04-25 MA Memorandum articles
- 2025-04-25 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-04-28 | AA | accounts | Accounts with accounts type full | |
| 2026-03-03 | PSC04 | persons-with-significant-control | Change to a person with significant control | |
| 2025-12-05 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-09-03 | AA | accounts | Accounts with accounts type total exemption full | |
| 2025-08-14 | AP01 | officers | Appoint person director company with name date | |
| 2025-08-14 | TM01 | officers | Termination director company with name termination date | |
| 2025-06-06 | AP03 | officers | Appoint person secretary company with name date | |
| 2025-06-05 | MA | incorporation | Memorandum articles | |
| 2025-06-05 | RESOLUTIONS | resolution | Resolution | |
| 2025-06-03 | SH01 | capital | Capital allotment shares | |
| 2025-06-03 | AP01 | officers | Appoint person director company with name date | |
| 2025-06-03 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-04-25 | MA | incorporation | Memorandum articles | |
| 2025-04-25 | RESOLUTIONS | resolution | Resolution | |
| 2025-04-01 | SH01 | capital | Capital allotment shares | |
| 2025-03-21 | SH02 | capital | Capital alter shares subdivision | |
| 2025-01-20 | SH01 | capital | Capital allotment shares | |
| 2024-11-22 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-11-08 | RP04AP01 | officers | Second filing of director appointment with name | |
| 2024-11-07 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 12
- Capital events
- 4
- Officers appointed
- 3
- Officers resigned
- 1
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.