Registered number
06902773
Axis Commercial Properties Limited
Filleted Accounts
30 June 2023
Axis Commercial Properties Limited
Registered number: 06902773
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,918 2,558
Investments 4 425,000 400,000
426,918 402,558
Current assets
Debtors 5 627 755
Cash at bank and in hand 29,428 24,967
30,055 25,722
Creditors: amounts falling due within one year 7 (3,797) (2,504)
Net current assets 26,258 23,218
Total assets less current liabilities 453,176 425,776
Creditors: amounts falling due after more than one year 8 (203,082) (203,082)
Provisions for liabilities (32,744) (27,994)
Net assets 217,350 194,700
Capital and reserves
Called up share capital 100 100
Profit and loss account 217,250 194,600
Shareholders' funds 217,350 194,700
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 and the director's report have not been delivered to the Registrar of Companies.
S Chester
Director
Approved by the board on 4 March 2024
Axis Commercial Properties Limited
Notes to the Accounts
for the year ended 30 June 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 letting of commercial premises and is recognised by reference to the rental period.
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 evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Investments
Unlisted investments are measured at fair value. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2022 20,785
At 30 June 2023 20,785
Depreciation
At 1 July 2022 18,227
Charge for the year 640
At 30 June 2023 18,867
Net book value
At 30 June 2023 1,918
At 30 June 2022 2,558
4 Investments
Other
investments
£
Cost
At 1 July 2022 400,000
Additions 25,000
At 30 June 2023 425,000
5 Debtors 2023 2022
£ £
Other debtors 627 755
6 Investments held as current assets 2023 2022
£ £
Fair value
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Unlisted investments 25,000 -
7 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 1,234 154
Other creditors 2,563 2,350
3,797 2,504
8 Creditors: amounts falling due after one year 2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 203,082 203,082
9 Other information
Axis Commercial Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
Central House
124 High Street
Hampton Hill
Middlesex
TW12 1NS
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