Axta Management Ltd Filleted Accounts Cover
Axta Management Ltd
Company No. 03796763
Information for Filing with The Registrar
31 December 2023
Axta Management Ltd Balance Sheet Registrar
at
31 December 2023
Company No.
03796763
Notes
2023
2022
£
£
Fixed assets
Investments
4
11
11
Current assets
Debtors
5
316,589345,101
316,589345,101
Net current assets
316,589345,101
Total assets less current liabilities
316,590345,102
Net assets
316,590345,102
Capital and reserves
Called up share capital
100100
Capital redemption reserve
7
93,867100,279
Profit and loss account
7
222,623244,723
Total equity
316,590345,102
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 December 2023 the company was entitled to exemption from audit 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 05 August 2024 and signed on its behalf by:
F. Bahr
Director
05 August 2024
Axta Management Ltd Notes to the Accounts Registrar
for the year ended 31 December 2023
1
General information
Axta Management Ltd is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 03796763
Its registered office is:
Its trading address is:
1st Floor, Born & Co.
Quai du Roi Albert, 16B
Devonshire House
Immopar S.A.
1 Mayfair Place
Liege, 4020
London
W1J 8AJ
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Freehold investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.
Investments
Unlisted investments (except those held as subsidiaries, associates or joint ventures) are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.
Work in progress


Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term 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.
Foreign currencies
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
11
4
Investments
Investment in Subsidiaries
Total
£
£
Cost or valuation
At 1 January 2023
1
1
At 31 December 2023
1
1
Provisions/Impairment
Net book values
At 31 December 2023
1
1
At 31 December 2022
1
1
5
Debtors
2023
2022
£
£
Amounts owed by group undertakings
316,589345,101
316,589345,101
6
Share Capital
The share capital comprises 100 fully paid £1 ordinary shares.
7
Reserves
Foreign exchange reserve
Total other reserves
£
£
At 1 January 2022
79,353
79,353
Transfers
20,926
20,926
At 31 December 2022 and 1 January 2023
100,279
100,279
Transfers
(6,412)
(6,412)
At 31 December 2023
93,86793,867
The capital redemption reserve records the unrealised foreign exchange gains and losses.
Profit and loss account - includes all current and prior period retained profits and losses.
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