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REGISTERED NUMBER: 03872453 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Axis P.E.D Ltd

Axis P.E.D Ltd (Registered number: 03872453)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Axis P.E.D Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTORS: D Adams
J L Mason
M A Pollard
A J Russell





REGISTERED OFFICE: Well House Barns
Bretton
Chester
Cheshire
CH4 0DH





REGISTERED NUMBER: 03872453 (England and Wales)





ACCOUNTANTS: Haines Watts
Military House
24 Castle Street
Chester
Cheshire
CH1 2DS

Axis P.E.D Ltd (Registered number: 03872453)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 27,716 16,800
Property, plant and equipment 5 46,711 34,108
74,427 50,908

CURRENT ASSETS
Inventories 54,648 18,574
Debtors 6 2,664,481 2,422,025
Investments 7 1 1
Cash at bank and in hand 1,730,428 1,723,514
4,449,558 4,164,114
CREDITORS
Amounts falling due within one year 8 1,990,790 1,628,918
NET CURRENT ASSETS 2,458,768 2,535,196
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,533,195

2,586,104

CREDITORS
Amounts falling due after more than one
year

9

(83,588

)

(143,949

)

PROVISIONS FOR LIABILITIES (11,678 ) (5,670 )
NET ASSETS 2,437,929 2,436,485

CAPITAL AND RESERVES
Called up share capital 855 855
Capital redemption reserve 885 885
Other reserves (4,587,905 ) (3,272,382 )
Retained earnings 7,024,094 5,707,127
SHAREHOLDERS' FUNDS 2,437,929 2,436,485

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Axis P.E.D Ltd (Registered number: 03872453)

Balance Sheet - continued
30 November 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 March 2024 and were signed on its behalf by:




D Adams - Director J L Mason - Director




M A Pollard - Director A J Russell - Director


Axis P.E.D Ltd (Registered number: 03872453)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Axis P.E.D 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.

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.

The financial statements are presented in sterling which is the functional currency of the company, rounded to the nearest £1.

Turnover
Turnover represents the total invoice value, excluding value added tax, of services provided during the year.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

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 etc - 15% on reducing balance

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

Current 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.

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.

Axis P.E.D Ltd (Registered number: 03872453)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2022 - 36 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 December 2022 21,000
Additions 18,895
At 30 November 2023 39,895
AMORTISATION
At 1 December 2022 4,200
Charge for year 7,979
At 30 November 2023 12,179
NET BOOK VALUE
At 30 November 2023 27,716
At 30 November 2022 16,800

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 December 2022 114,189
Additions 20,845
At 30 November 2023 135,034
DEPRECIATION
At 1 December 2022 80,081
Charge for year 8,242
At 30 November 2023 88,323
NET BOOK VALUE
At 30 November 2023 46,711
At 30 November 2022 34,108

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 2,582,608 2,351,558
Other debtors 81,873 70,467
2,664,481 2,422,025

Axis P.E.D Ltd (Registered number: 03872453)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. CURRENT ASSET INVESTMENTS
30.11.23 30.11.22
£    £   
Shares in group undertakings 1 1

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 58,000 58,000
Trade creditors 308,091 575,464
Taxation and social security 1,082,453 753,675
Other creditors 542,246 241,779
1,990,790 1,628,918

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans 83,588 143,949

10. RELATED PARTY DISCLOSURES

During the year an amount of £1,315,523 (2022: £542,367) was gifted to the Axis PED Employee Ownership Trust.