IRIS Accounts Production v23.2.0.158 13124124 director 1.4.22 31.3.23 31.3.23 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure131241242022-03-31131241242023-03-31131241242022-04-012023-03-31131241242021-01-07131241242021-01-082022-03-31131241242022-03-3113124124ns16:EnglandWales2022-04-012023-03-3113124124ns15:PoundSterling2022-04-012023-03-3113124124ns11:Director12022-04-012023-03-3113124124ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3113124124ns11:SmallEntities2022-04-012023-03-3113124124ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3113124124ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3113124124ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3113124124ns11:FullAccounts2022-04-012023-03-3113124124ns11:RegisteredOffice2022-04-012023-03-3113124124ns6:CurrentFinancialInstruments2023-03-3113124124ns6:CurrentFinancialInstruments2022-03-3113124124ns6:ShareCapital2023-03-3113124124ns6:ShareCapital2022-03-3113124124ns6:FurtherSpecificReserve1ComponentTotalEquity2023-03-3113124124ns6:FurtherSpecificReserve1ComponentTotalEquity2022-03-3113124124ns6:RetainedEarningsAccumulatedLosses2023-03-3113124124ns6:RetainedEarningsAccumulatedLosses2022-03-3113124124ns6:PlantMachinery2022-04-012023-03-3113124124ns6:PlantMachinery2023-03-3113124124ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3113124124ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-31
REGISTERED NUMBER: 13124124 (England and Wales)
















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Axel Enterprises Limited

Axel Enterprises Limited (Registered number: 13124124)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Axel Enterprises Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: D Gick





REGISTERED OFFICE: Unit 2c Medmerry Industrial Estate
Easton Lane
Sidlesham
West Sussex
PO20 7NU





REGISTERED NUMBER: 13124124 (England and Wales)





ACCOUNTANTS: Roches Chartered Accountants
1 Manor Court
6 Barnes Wallis Road
Segensworth
Fareham
Hampshire
PO15 5TH

Axel Enterprises Limited (Registered number: 13124124)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,073 -
Investment property 5 1,588,500 460,630
1,597,573 460,630

CURRENT ASSETS
Debtors 6 2,225 6,655
Cash at bank and in hand 1,406 58,875
3,631 65,530
CREDITORS
Amounts falling due within one year 7 371,181 478,087
NET CURRENT LIABILITIES (367,550 ) (412,557 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,230,023

48,073

PROVISIONS FOR LIABILITIES 284,236 -
NET ASSETS 945,787 48,073

CAPITAL AND RESERVES
Called up share capital 1 1
Non-distributable reserve 845,903 -
Retained earnings 99,883 48,072
SHAREHOLDERS' FUNDS 945,787 48,073

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Axel Enterprises Limited (Registered number: 13124124)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 October 2023 and were signed by:





D Gick - Director


Axel Enterprises Limited (Registered number: 13124124)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Axel Enterprises Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to related parties.

Financial assets & financial liabilities are initially recognised at the transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. However, if the arrangement constitutes a financing transaction then it is measured at the present value of the future receipts discounted at a market rate of interest.

Financial assets & financial liabilities classified as receivable within one year are not amortised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

Axel Enterprises Limited (Registered number: 13124124)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 11,202
At 31 March 2023 11,202
DEPRECIATION
Charge for year 2,129
At 31 March 2023 2,129
NET BOOK VALUE
At 31 March 2023 9,073

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 460,630
Revaluations 1,127,870
At 31 March 2023 1,588,500
NET BOOK VALUE
At 31 March 2023 1,588,500
At 31 March 2022 460,630

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2023 1,127,870
Cost 460,630
1,588,500

The director, Mr D Gick has fair valued the investment property based on the value of similar properties in the vicinity, taking into account the condition of the property.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 1,145 2,762
Other debtors 1,080 3,893
2,225 6,655

Axel Enterprises Limited (Registered number: 13124124)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 784 1,450
Amounts owed to group undertakings 359,834 459,834
Taxation and social security 9,769 11,276
Other creditors 794 5,527
371,181 478,087