Registered number
07621306
Axiom Project Management Limited
Filleted Accounts
31 March 2023
Axiom Project Management Limited
Registered number: 07621306
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 15,597 19,303
Current assets
Debtors 4 88,923 143,067
Cash at bank and in hand 107,205 118,187
196,128 261,254
Creditors: amounts falling due within one year 5 (56,583) (106,443)
Net current assets 139,545 154,811
Net assets 155,142 174,114
Capital and reserves
Called up share capital 2 2
Profit and loss account 155,140 174,112
Shareholders' funds 155,142 174,114
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jean Cooper
Director
Approved by the board on 30 June 2023
Axiom Project Management Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and machinery 25% of net book value
Fixtures, fittings, tools and equipment 25% of net book value
Motor vehicles 20% of net book value
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 63,785 8,012 71,797
Additions 1,020 - 1,020
At 31 March 2023 64,805 8,012 72,817
Depreciation
At 1 April 2022 47,736 4,758 52,494
Charge for the year 4,076 650 4,726
At 31 March 2023 51,812 5,408 57,220
Net book value
At 31 March 2023 12,993 2,604 15,597
At 31 March 2022 16,049 3,254 19,303
4 Debtors 2023 2022
£ £
Trade debtors 26,011 77,708
Other debtors 62,912 65,359
88,923 143,067
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 17,095 21,753
Corporation tax 35,407 20,964
Other taxes and social security costs 4,081 63,027
Other creditors - 699
56,583 106,443
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Jeff Cooper
Overdrawn loan account 62,984 61,055 (73,133) 50,906
Jean Cooper
Overdrawn loan account 58,911 65,128 (73,133) 50,906
121,895 126,183 (146,266) 101,812
7 Other information
Axiom Project Management Limited is a private company limited by shares and incorporated in England. Its registered office is:
Suite 7 Brackenholme Business Park
Brackenholme
Selby
North Yorkshire
YO8 6EL
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