Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31492023-01-01falseAgents specialised in the sale of other particular products47falsetrue 03318032 2023-01-01 2023-12-31 03318032 2022-01-01 2022-12-31 03318032 2023-12-31 03318032 2022-12-31 03318032 c:Director2 2023-01-01 2023-12-31 03318032 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 03318032 d:Buildings d:ShortLeaseholdAssets 2023-12-31 03318032 d:Buildings d:ShortLeaseholdAssets 2022-12-31 03318032 d:FurnitureFittings 2023-01-01 2023-12-31 03318032 d:FurnitureFittings 2023-12-31 03318032 d:FurnitureFittings 2022-12-31 03318032 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03318032 d:ComputerEquipment 2023-01-01 2023-12-31 03318032 d:ComputerEquipment 2023-12-31 03318032 d:ComputerEquipment 2022-12-31 03318032 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03318032 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 03318032 d:OtherPropertyPlantEquipment 2023-12-31 03318032 d:OtherPropertyPlantEquipment 2022-12-31 03318032 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03318032 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03318032 d:CurrentFinancialInstruments 2023-12-31 03318032 d:CurrentFinancialInstruments 2022-12-31 03318032 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03318032 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03318032 d:ShareCapital 2023-12-31 03318032 d:ShareCapital 2022-12-31 03318032 d:RetainedEarningsAccumulatedLosses 2023-12-31 03318032 d:RetainedEarningsAccumulatedLosses 2022-12-31 03318032 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 03318032 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 03318032 c:FRS102 2023-01-01 2023-12-31 03318032 c:Audited 2023-01-01 2023-12-31 03318032 c:FullAccounts 2023-01-01 2023-12-31 03318032 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03318032 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 03318032 2 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 03318032









AXIS COMMUNICATIONS (UK) LTD









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
AXIS COMMUNICATIONS (UK) LTD
REGISTERED NUMBER: 03318032

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
91,357
9,748

  
91,357
9,748

Current assets
  

Debtors
 5 
264,791
1,367,186

Cash at bank and in hand
  
1,504,360
671,975

  
1,769,151
2,039,161

Creditors: amounts falling due within one year
 6 
(970,499)
(1,164,276)

Net current assets
  
 
 
798,652
 
 
874,885

Total assets less current liabilities
  
890,009
884,633

Provisions for liabilities
  

Deferred tax
  
(33,631)
(9,686)

  
 
 
(33,631)
 
 
(9,686)

Net assets
  
856,378
874,947


Capital and reserves
  

Called up share capital 
  
30,000
30,000

Profit and loss account
  
826,378
844,947

  
856,378
874,947


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




F Sjostrand
Director

Page 1

 
AXIS COMMUNICATIONS (UK) LTD
REGISTERED NUMBER: 03318032
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

Date: 5 April 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
AXIS COMMUNICATIONS (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Axis Communications (UK) Limited is a company limited by shares incorporated in England and Wales.
The principal place of business is it's Registered Office - First Floor 1, Capability Green, Luton, LU1 3LU.
The principal activity of the company continued to be that of providing marketing and consultancy services to its parent company Axis Communications AB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis which assumes that the Company will continue to trade for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements, and will be able to meet its debts as they fall due.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Turnover represents a recharge of expenses plus a mark-up to its parent undertaking and is recognised as the relevant expenses are incurred. 

Page 3

 
AXIS COMMUNICATIONS (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 4

 
AXIS COMMUNICATIONS (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
20%
Fixtures and fittings
-
20%
Computer equipment
-
33%
Other fixed assets
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Financial instruments

The Group only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to and from related parties.
(i) Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are
Page 5

 
AXIS COMMUNICATIONS (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
(iii) Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 49 (2022 - 47).

Page 6

 
AXIS COMMUNICATIONS (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Leasehold improvements
Fixtures and fittings
Computer equipment
Other fixed assets
Total

£
£
£
£
£



Cost 


At 1 January 2023
780,112
178,586
13,374
-
972,072


Additions
-
-
-
97,532
97,532



At 31 December 2023

780,112
178,586
13,374
97,532
1,069,604



Depreciation


At 1 January 2023
770,364
178,586
13,374
-
962,324


Charge for the year on owned assets
5,086
-
-
10,837
15,923



At 31 December 2023

775,450
178,586
13,374
10,837
978,247



Net book value



At 31 December 2023
4,662
-
-
86,695
91,357



At 31 December 2022
9,748
-
-
-
9,748


5.


Debtors

2023
2022
£
£



Trade debtors
11,843
-

Amounts owed by group undertakings
3,053
1,209,187

Other debtors
118,518
62,295

Prepayments and accrued income
131,377
95,704

264,791
1,367,186


Page 7

 
AXIS COMMUNICATIONS (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
109,740
29,638

Amounts owed to group undertakings
33,419
80,369

Corporation tax
130,933
90,970

Other taxation and social security
139,529
169,171

Other creditors
20,471
-

Accruals and deferred income
536,407
794,128

970,499
1,164,276



7.


Deferred taxation




2023


£






At beginning of year
(9,686)


Charged to profit or loss
(23,945)



At end of year
(33,631)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(33,631)
(9,686)

(33,631)
(9,686)


8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. Contributions totalling £20,471 (2022 - £nil) were payable to the fund at the reporting date and are included in creditors.


9.


Related party transactions

Where possible the company has taken advantage of the exemption conferred by section 33.1A of FRS 102 from the requirement to disclose transactions with other wholly owned group undertakings.

Page 8

 
AXIS COMMUNICATIONS (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Controlling party

The immediate parent undertaking of the company is Axis Communications AB, a company incorporated in Sweden and is the smallest group for which group financial statements are drawn up. 
The ultimate parent undertaking and the parent undertaking of the largest group of undertakings for which group financial statements are drawn up and of which the company is a member, is Canon Inc, a company incorporated in Japan.
Copies of group financial statements may be obtained from the Company Secretary, Canon Inc, 30-2, Shimomaruko 3-chrome, Ohta-ku, Tokyo, 146-8501, Japan. 


11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 5 April 2024 by Nick Bishop FCA (Senior statutory auditor) on behalf of BKL Audit LLP.

 
Page 9