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COMPANY REGISTRATION NUMBER: 13834142
Axiom Media Holdings Ltd
Filleted Unaudited Abridged Financial Statements
31 January 2023
Axiom Media Holdings Ltd
Abridged Statement of Financial Position
31 January 2023
31 Jan 23
Note
£
£
Fixed assets
Investments
4
2,095,902
Current assets
Cash at bank and in hand
1,903,904
Creditors: amounts falling due within one year
900
------------
Net current assets
1,903,004
------------
Total assets less current liabilities
3,998,906
Creditors: amounts falling due after more than one year
4,000,000
------------
Net liabilities
( 1,094)
------------
Capital and reserves
Called up share capital
1
Profit and loss account
( 1,095)
-------
Shareholders deficit
( 1,094)
-------
These abridged 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 abridged statement of comprehensive income has not been delivered.
For the period ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the period ending 31 January 2023 in accordance with Section 444(2A) of the Companies Act 2006.
Axiom Media Holdings Ltd
Abridged Statement of Financial Position (continued)
31 January 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 27 September 2023 , and are signed on behalf of the board by:
J Lawrence
Director
Company registration number: 13834142
Axiom Media Holdings Ltd
Notes to the Abridged Financial Statements
Period from 7 January 2022 to 31 January 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 57a Broadway, Leigh On Sea, Essex, SS9 1PE.
2. Statement of compliance
These abridged 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 abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
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.
4. Investments
£
Cost
At 7 January 2022
Additions
2,095,902
------------
At 31 January 2023
2,095,902
------------
Impairment
At 7 January 2022 and 31 January 2023
------------
Carrying amount
At 31 January 2023
2,095,902
------------