IRIS Accounts Production v24.1.0.576 11113111 director 1.1.23 31.12.23 31.12.23 23.7.24 false true false false true false Auditors Opinion Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh111131112022-12-31111131112023-12-31111131112023-01-012023-12-31111131112021-12-31111131112022-01-012022-12-31111131112022-12-3111113111ns15:EnglandWales2023-01-012023-12-3111113111ns14:PoundSterling2023-01-012023-12-3111113111ns10:Director12023-01-012023-12-3111113111ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3111113111ns10:SmallEntities2023-01-012023-12-3111113111ns10:Audited2023-01-012023-12-3111113111ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3111113111ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3111113111ns10:FullAccounts2023-01-012023-12-3111113111ns10:OrdinaryShareClass12023-01-012023-12-3111113111ns10:CompanySecretary12023-01-012023-12-3111113111ns10:RegisteredOffice2023-01-012023-12-3111113111ns5:CurrentFinancialInstruments2023-12-3111113111ns5:CurrentFinancialInstruments2022-12-3111113111ns5:ShareCapital2023-12-3111113111ns5:ShareCapital2022-12-3111113111ns5:RetainedEarningsAccumulatedLosses2023-12-3111113111ns5:RetainedEarningsAccumulatedLosses2022-12-3111113111ns5:PlantMachinery2022-12-3111113111ns5:PlantMachinery2023-01-012023-12-3111113111ns5:PlantMachinery2023-12-3111113111ns5:PlantMachinery2022-12-3111113111ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3111113111ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3111113111ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 11113111 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Axodel Ltd

Axodel Ltd (Registered number: 11113111)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Axodel Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: D J F M Doucet





SECRETARY: Pramex International Ltd





REGISTERED OFFICE: 11 Old Jewry
London
EC2R8DU





REGISTERED NUMBER: 11113111 (England and Wales)





AUDITORS: HB Accountants
Plumpton House
Plumpton Road
Hoddesdon
Herts
EN11 0LB

Axodel Ltd (Registered number: 11113111)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,045 1,031

CURRENT ASSETS
Stocks - 3,520
Debtors 5 206,502 269,481
Cash at bank 211,549 224,455
418,051 497,456
CREDITORS
Amounts falling due within one year 6 1,286,435 1,379,462
NET CURRENT LIABILITIES (868,384 ) (882,006 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(867,339

)

(880,975

)

CAPITAL AND RESERVES
Called up share capital 7 20,000 20,000
Retained earnings (887,339 ) (900,975 )
SHAREHOLDERS' FUNDS (867,339 ) (880,975 )

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 director and authorised for issue on 22 July 2024 and were signed by:





D J F M Doucet - Director


Axodel Ltd (Registered number: 11113111)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Axodel 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention and amounts are rounded to the nearest £.

These are the first financial statements that comply with FRS 102. No transitional adjustments were required in equity or profit or loss for the comparative year.

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Axodel Ltd (Registered number: 11113111)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

Going concern
The company is dependent upon the continued financial support of its parent company which has undertaken to financially support the company.

Howvever, the Board of Directors have decided to discontinue the operations of Axodel Ltd and the company is expected to be voluntarily dissolved by the end of 2024.

The accounts therefore have not been prepared on a going concern basis.

Employees benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

Axodel Ltd (Registered number: 11113111)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 6,571
Additions 667
At 31 December 2023 7,238
DEPRECIATION
At 1 January 2023 5,540
Charge for year 653
At 31 December 2023 6,193
NET BOOK VALUE
At 31 December 2023 1,045
At 31 December 2022 1,031

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 206,386 269,360
Other debtors - 5
Accrued income and prepayments 116 116
206,502 269,481

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 1,688 1,655
Amounts owed to group undertakings 1,140,488 1,263,382
Social security and other taxes 10,611 19,367
Pension 1,531 1,430
VAT 38,259 40,746
Accruals 26,627 7,498
Deferred Income 67,231 45,384
1,286,435 1,379,462

Axodel Ltd (Registered number: 11113111)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
20,000 Ordinary 1 20,000 20,000

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Keith Grover (Senior Statutory Auditor)
for and on behalf of HB Accountants

9. ULTIMATE CONTROLLING PARTY

The direct parent company is Kuantic SAS a company incorporated in France. It's registered office is at 2229 Route des Cretes, 06560, Valbonne.