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REGISTERED NUMBER: 07956820 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

INTERAXIS MACHINERY SERVICES LTD

INTERAXIS MACHINERY SERVICES LTD (REGISTERED NUMBER: 07956820)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INTERAXIS MACHINERY SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: D L Jarrett
M Oldham





REGISTERED OFFICE: Unit 29 Burtonwood Industrial Centre
Burtonwood
Warrington
Cheshire
WA5 4HX





REGISTERED NUMBER: 07956820 (England and Wales)





ACCOUNTANTS: Wallwork Nelson & Johnson
Chandler House
7 Ferry Road Office Park
Riversway
Preston
Lancashire
PR2 2YH

INTERAXIS MACHINERY SERVICES LTD (REGISTERED NUMBER: 07956820)

BALANCE SHEET
28 FEBRUARY 2023

28/2/23 28/2/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 127,602 137,939

CURRENT ASSETS
Stocks 5 136,300 110,000
Debtors 6 160,903 232,749
Cash at bank 8,902 69,103
306,105 411,852
CREDITORS
Amounts falling due within one year 7 184,521 236,645
NET CURRENT ASSETS 121,584 175,207
TOTAL ASSETS LESS CURRENT
LIABILITIES

249,186

313,146

CREDITORS
Amounts falling due after more than one
year

8

(110,144

)

(175,563

)

PROVISIONS FOR LIABILITIES (21,957 ) (23,699 )
NET ASSETS 117,085 113,884

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 116,985 113,784
SHAREHOLDERS' FUNDS 117,085 113,884

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

INTERAXIS MACHINERY SERVICES LTD (REGISTERED NUMBER: 07956820)

BALANCE SHEET - continued
28 FEBRUARY 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 Board of Directors and authorised for issue on 28 November 2023 and were signed on its behalf by:




M Oldham - Director



D L Jarrett - Director


INTERAXIS MACHINERY SERVICES LTD (REGISTERED NUMBER: 07956820)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Interaxis Machinery Services Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

INTERAXIS MACHINERY SERVICES LTD (REGISTERED NUMBER: 07956820)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and therefore continue to prepare the financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2022 154,565 548 33,021 2,587 190,721
Additions 3,913 - - - 3,913
Disposals - - (6,995 ) - (6,995 )
At 28 February 2023 158,478 548 26,026 2,587 187,639
DEPRECIATION
At 1 March 2022 42,659 267 7,764 2,092 52,782
Charge for year 5,341 42 4,128 124 9,635
Eliminated on disposal - - (2,380 ) - (2,380 )
At 28 February 2023 48,000 309 9,512 2,216 60,037
NET BOOK VALUE
At 28 February 2023 110,478 239 16,514 371 127,602
At 28 February 2022 111,906 281 25,257 495 137,939

5. STOCKS
28/2/23 28/2/22
£    £   
Work-in-progress 136,300 110,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/23 28/2/22
£    £   
Trade debtors 128,718 229,364
Other debtors 1,500 1,500
Directors' current accounts 16,738 -
Prepayments 13,947 1,885
160,903 232,749

INTERAXIS MACHINERY SERVICES LTD (REGISTERED NUMBER: 07956820)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/23 28/2/22
£    £   
Bank loans and overdrafts 9,950 9,697
Other loans 49,755 49,200
Hire purchase contracts (see note 9) 3,946 6,126
Trade creditors 44,759 48,346
Tax 17,992 18,287
Social security and other taxes 7,678 8,289
Pension control 1,178 1,297
VAT 45,910 61,596
Directors' current accounts - 9,582
Accruals and deferred income 3,353 24,225
184,521 236,645

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28/2/23 28/2/22
£    £   
Bank loans - 1-2 years 10,201 9,942
Bank loans - 2-5 years 12,347 22,858
Other loans - 1-2 years 54,369 49,755
Other loans - 2-5 years 29,046 83,415
Hire purchase contracts (see note 9) 4,181 9,593
110,144 175,563

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
28/2/23 28/2/22
£    £   
Net obligations repayable:
Within one year 3,946 6,126
Between one and five years 4,181 9,593
8,127 15,719

Non-cancellable operating leases
28/2/23 28/2/22
£    £   
Within one year 23,701 25,316
Between one and five years 3,950 22,254
27,651 47,570

INTERAXIS MACHINERY SERVICES LTD (REGISTERED NUMBER: 07956820)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28/2/23 28/2/22
value: £    £   
100 Ordinary £1 100 100

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 28 February 2023 the Directors owed the company £16,738. The amounts owed to the Directors at the year end are repayable on demand and no interest has been charged.