AXIES VENTURES LTD

Company Registration Number:
14052251 (England and Wales)

Unaudited statutory accounts for the year ended 30 September 2023

Period of accounts

Start date: 19 April 2022

End date: 30 September 2023

AXIES VENTURES LTD

Contents of the Financial Statements

for the Period Ended 30 September 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

AXIES VENTURES LTD

Directors' report period ended 30 September 2023

The directors present their report with the financial statements of the company for the period ended 30 September 2023

Principal activities of the company

The principal activity of the company during the year was that of the exploration and production of gold and copper.



Directors

The director shown below has held office during the period of
15 August 2023 to 30 September 2023

Mr S H Pawson


The directors shown below have held office during the period of
1 September 2022 to 30 September 2023

Mr J J Woodgate
Mr N G S Tulloch


The director shown below has held office during the whole of the period from
19 April 2022 to 30 September 2023

Mr M D Whitlow


The director shown below has held office during the period of
19 April 2022 to 29 August 2022

Holding 365 Ltd


The director shown below has held office during the period of
19 April 2022 to 30 May 2022

Mr P H Muller


Secretary Mr S A Cunningham

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
18 January 2024

And signed on behalf of the board by:
Name: Mr S A Cunningham
Status: Secretary

AXIES VENTURES LTD

Profit And Loss Account

for the Period Ended 30 September 2023

17 months to 30 September 2023


£
Administrative expenses: ( 334,991 )
Operating profit(or loss): (334,991)
Profit(or loss) before tax: (334,991)
Profit(or loss) for the financial year: (334,991)

AXIES VENTURES LTD

Balance sheet

As at 30 September 2023

Notes 17 months to 30 September 2023


£
Current assets
Debtors: 3 152,010
Cash at bank and in hand: 459,688
Total current assets: 611,698
Creditors: amounts falling due within one year: 4 ( 1,173 )
Net current assets (liabilities): 610,525
Total assets less current liabilities: 610,525
Total net assets (liabilities): 610,525
Capital and reserves
Called up share capital: 26,534
Share premium account: 918,982
Profit and loss account: (334,991 )
Total Shareholders' funds: 610,525

The notes form part of these financial statements

AXIES VENTURES LTD

Balance sheet statements

For the year ending 30 September 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 18 January 2024
and signed on behalf of the board by:

Name: Mr S H Pawson
Status: Director

The notes form part of these financial statements

AXIES VENTURES LTD

Notes to the Financial Statements

for the Period Ended 30 September 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

    Tangible fixed assets depreciation policy

    Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset.

    Other accounting policies

    Impairment of fixed assets:A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.Financial instruments:The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.DebtorsShort term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.CreditorsShort term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

AXIES VENTURES LTD

Notes to the Financial Statements

for the Period Ended 30 September 2023

  • 2. Employees

    17 months to 30 September 2023
    Average number of employees during the period 0

AXIES VENTURES LTD

Notes to the Financial Statements

for the Period Ended 30 September 2023

3. Debtors

17 months to 30 September 2023
£
Prepayments and accrued income 6,944
Other debtors 145,066
Total 152,010

AXIES VENTURES LTD

Notes to the Financial Statements

for the Period Ended 30 September 2023

4. Creditors: amounts falling due within one year note

17 months to 30 September 2023
£
Trade creditors 1
Accruals and deferred income 1,172
Total 1,173