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REGISTERED NUMBER: 09330117 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 NOVEMBER 2023

FOR

AXON ASSOCIATES LIMITED

AXON ASSOCIATES LIMITED (REGISTERED NUMBER: 09330117)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


AXON ASSOCIATES LIMITED (REGISTERED NUMBER: 09330117)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 5,564 6,699

CURRENT ASSETS
Debtors 6 244,967 296,665
Cash at bank 130,363 175,277
375,330 471,942
CREDITORS
Amounts falling due within one year 7 204,590 270,631
NET CURRENT ASSETS 170,740 201,311
TOTAL ASSETS LESS CURRENT
LIABILITIES

176,304

208,010

CREDITORS
Amounts falling due after more than one
year

8

(23,389

)

(31,722

)

PROVISIONS FOR LIABILITIES 11 (1,391 ) (1,273 )
NET ASSETS 151,524 175,015

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 151,424 174,915
SHAREHOLDERS' FUNDS 151,524 175,015

AXON ASSOCIATES LIMITED (REGISTERED NUMBER: 09330117)

BALANCE SHEET - continued
30 NOVEMBER 2023


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 director acknowledges his 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.

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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 August 2024 and were signed by:





Mr S Mace - Director


AXON ASSOCIATES LIMITED (REGISTERED NUMBER: 09330117)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Axon Associates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09330117

Registered office: 45a High Street
Tunbridge Wells
Kent
TN1 1XL

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 25% on cost

All fixed assets are initially recorded at cost.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.


AXON ASSOCIATES LIMITED (REGISTERED NUMBER: 09330117)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Operating lease commitments
Rentals applicable to the operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

AXON ASSOCIATES LIMITED (REGISTERED NUMBER: 09330117)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 December 2022 15,408 1,802 17,210
Additions 551 - 551
At 30 November 2023 15,959 1,802 17,761
DEPRECIATION
At 1 December 2022 9,097 1,414 10,511
Charge for year 1,372 314 1,686
At 30 November 2023 10,469 1,728 12,197
NET BOOK VALUE
At 30 November 2023 5,490 74 5,564
At 30 November 2022 6,311 388 6,699

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 116,826 127,020
Amounts receivable on contracts 126,766 167,378
Other debtors - 1,800
Prepayments and accrued income 1,375 467
244,967 296,665

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,342 8,343
Trade creditors 88,581 104,850
Corporation tax 27,731 33,279
PAYE and social security 38 208
VAT 26,123 5,935
Other creditors - 87
Director's current account 9,514 36,650
Accruals and deferred income 44,261 81,279
204,590 270,631

AXON ASSOCIATES LIMITED (REGISTERED NUMBER: 09330117)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 8,333 8,333
Bank loans - 2-5 years 15,056 23,389
23,389 31,722

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 4,375 8,750

10. SECURED DEBTS

The company had a debenture charge registered at Companies House by RBS Invoice Finance, in the form of a fixed and floating charge. The floating charge covers all the property and undertaking of the company. The charge also contains a negative pledge.

There was an additional charge registered by Abn Amro Commercial Finance Plc on the same basis.

These charges was satisfied on 23 May 2023.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,391 1,273

Deferred
tax
£   
Balance at 1 December 2022 1,273
Asset timing difference 118
Balance at 30 November 2023 1,391

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100