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Registered number: 13981522
AEXAE Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Starfish Accounting Ltd
ICAEW
The Bowler Barn
Bartletts Court
Littlewick Green
Berkshire
SL6 3RX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 13981522
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 7,489 -
Tangible Assets 5 5,125 6,347
12,614 6,347
CURRENT ASSETS
Stocks 6 100,835 76,173
Debtors 7 162,957 80,609
Cash at bank and in hand 41 41,697
263,833 198,479
Creditors: Amounts Falling Due Within One Year 8 (437,500 ) (247,706 )
NET CURRENT ASSETS (LIABILITIES) (173,667 ) (49,227 )
TOTAL ASSETS LESS CURRENT LIABILITIES (161,053 ) (42,880 )
NET LIABILITIES (161,053 ) (42,880 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (161,153 ) (42,980 )
SHAREHOLDERS' FUNDS (161,053) (42,880)
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Amelia Koulias Perez
Director
29/08/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
AEXAE Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13981522 . The registered office is Unit HH08F, Havelock Terrace, London, SW8 4AS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
Although the balance sheet is currently negative, the director has indicated her willingness to support the company for the foreseeable future, a period not anticipated to be less than one year.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are capitalised website development costs. They are amortised to the profit and loss account over the estimated economic life of 10 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 4 years
Computer Equipment 4 years
2.6. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.7. Stocks and Work in Progress
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2.8. Financial Instruments
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method
2.9. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.10. Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2.11. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Other
£
Cost
As at 1 April 2023 -
Additions 7,815
As at 31 March 2024 7,815
Amortisation
As at 1 April 2023 -
Provided during the period 326
As at 31 March 2024 326
Net Book Value
As at 31 March 2024 7,489
As at 1 April 2023 -
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 4,046 3,381 7,427
Additions 775 - 775
As at 31 March 2024 4,821 3,381 8,202
Depreciation
As at 1 April 2023 523 557 1,080
Provided during the period 1,151 846 1,997
As at 31 March 2024 1,674 1,403 3,077
Net Book Value
As at 31 March 2024 3,147 1,978 5,125
As at 1 April 2023 3,523 2,824 6,347
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6. Stocks
31 March 2024 31 March 2023
£ £
Stock 100,835 76,173
7. Debtors
31 March 2024 31 March 2023
£ £
Due within one year
Trade debtors 67,178 25,680
Prepayments and accrued income 65,254 34,931
Other debtors 17,024 8,392
VAT - 11,606
Director's loan account 13,501 -
162,957 80,609
8. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
£ £
Trade creditors 149,968 62,806
Other loans 141,899 112,899
Other taxes and social security 13,966 6,041
Other creditors 38,217 16,095
Accruals and deferred income 93,450 40,838
Director's loan account - 9,027
437,500 247,706
9. Share Capital
31 March 2024 31 March 2023
£ £
Allotted, Called up and fully paid 100 100
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
31 March 2024 31 March 2023
£ £
Not later than one year 9,900 9,900
9,900 9,900
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11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Miss Amelia Koulias Perez (9,027 ) 22,528 - - 13,501
The above loan is unsecured, interest free and repayable on demand.
12. Ultimate Controlling Party
The company's ultimate controlling party is Amelia Koulias Perez by virtue of her ownership of 100% of the issued share capital in the company.
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