C2X LTD
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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 · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|
| 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. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. Year-on-year comparison hidden: this filing covers about 12 months versus 17 months prior. About these numbers
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 |
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
- 2
- 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.