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Registration number: 13321185

Affixxius Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Affixxius Ltd

Contents

Company Information

1

Profit and Loss Account

2

Balance Sheet

3 to 4

Statement of Changes in Equity

5

Notes to the Unaudited Financial Statements

6 to 13

 

Affixxius Ltd

Company Information

Directors

Mr M J R Latham

Mr T L F Cabrelli

Mr D T Whayman

Registered office

Trinity Hall
Trinity Street
Loughborough
Leicestershire
LE11 1BY

Accountants

Rafton Associates Ltd
8 Woodland Close
Markfield
Leicestershire
LE67 9QH

 

Affixxius Ltd

Profit and Loss Account for the Year Ended 30 April 2024

Note

2024
£

2023
£

Turnover

 

2,416,562

2,255,188

Cost of sales

 

(1,608,303)

(1,266,686)

Gross profit

 

808,259

988,502

Administrative expenses

 

(621,157)

(596,122)

Operating profit

 

187,102

392,380

Other interest receivable and similar income

 

4,299

688

Interest payable and similar expenses

 

(3,983)

(1,336)

   

316

(648)

Profit before tax

187,418

391,732

Tax on profit

 

(60,449)

(97,056)

Profit for the financial year

 

126,969

294,676

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Affixxius Ltd

(Registration number: 13321185)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

129,205

150,740

Tangible assets

5

91,600

81,153

 

220,805

231,893

Current assets

 

Stocks

6

300

96,148

Debtors

7

401,800

343,999

Investments

8

-

10,000

Cash at bank and in hand

 

466,215

568,187

 

868,315

1,018,334

Creditors: Amounts falling due within one year

9

(451,653)

(335,214)

Net current assets

 

416,662

683,120

Total assets less current liabilities

 

637,467

915,013

Provisions for liabilities

(17,404)

(15,419)

Net assets

 

620,063

899,594

Capital and reserves

 

Called up share capital

10

10,638

10,638

Retained earnings

609,425

888,956

Shareholders' funds

 

620,063

899,594

 

Affixxius Ltd

(Registration number: 13321185)
Balance Sheet as at 30 April 2024

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 September 2024 and signed on its behalf by:
 

.........................................
Mr M J R Latham
Director

.........................................
Mr T L F Cabrelli
Director

.........................................
Mr D T Whayman
Director

     
 

Affixxius Ltd

Statement of Changes in Equity for the Year Ended 30 April 2024

Share capital
£

Retained earnings
£

Total
£

At 1 May 2023

10,638

888,956

899,594

Profit for the year

-

126,969

126,969

Dividends

-

(406,500)

(406,500)

At 30 April 2024

10,638

609,425

620,063

Share capital
£

Retained earnings
£

Total
£

At 1 May 2022

10,638

852,846

863,484

Profit for the year

-

294,676

294,676

Dividends

-

(258,566)

(258,566)

At 30 April 2023

10,638

888,956

899,594

 

Affixxius Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Trinity Hall
Trinity Street
Loughborough
Leicestershire
LE11 1BY

These financial statements were authorised for issue by the Board on 2 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Affixxius Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% on reducing balance basis

Fixtures and fittings

15% on reducing balance basis

Motor vehicles

25% on reducing balance basis

Computer equipment

33% on straight line basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

Affixxius Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Affixxius Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2023 - 14).

 

Affixxius Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

172,274

172,274

At 30 April 2024

172,274

172,274

Amortisation

At 1 May 2023

21,534

21,534

Amortisation charge

21,535

21,535

At 30 April 2024

43,069

43,069

Carrying amount

At 30 April 2024

129,205

129,205

At 30 April 2023

150,740

150,740

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

118,114

3,462

121,576

Additions

22,413

20,686

43,099

Disposals

(5,658)

-

(5,658)

At 30 April 2024

134,869

24,148

159,017

Depreciation

At 1 May 2023

39,558

865

40,423

Charge for the year

26,705

2,650

29,355

Eliminated on disposal

(2,361)

-

(2,361)

At 30 April 2024

63,902

3,515

67,417

Carrying amount

At 30 April 2024

70,967

20,633

91,600

At 30 April 2023

78,556

2,597

81,153

 

Affixxius Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Stocks

2024
£

2023
£

Work in progress

300

96,148

7

Debtors

Current

2024
£

2023
£

Trade debtors

400,934

343,804

Prepayments

866

195

 

401,800

343,999

8

Current asset investments

2024
£

2023
£

Shares in group undertakings

-

10,000

 

Affixxius Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

90,110

97,917

Taxation and social security

171,600

160,385

Accruals and deferred income

14,205

-

Other creditors

175,738

76,912

451,653

335,214

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

ordinary A shares of £1 each

5,000

5,000

5,000

5,000

ordinary B shares of £1 each

5,000

5,000

5,000

5,000

ordinary C shares of £1 each

638

638

638

638

10,638

10,638

10,638

10,638

11

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £36.13 (2023 - £28.05) per each ordinary A shares

184,750

140,280

Interim dividend of £36.94 (2023 - £18.93) per each ordinary B shares

180,500

94,648

Interim dividend of £64.66 (2023 - £37.05) per each ordinary C shares

41,250

23,638

406,500

258,566

 

Affixxius Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

12

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

91,576

78,675

Contributions paid to money purchase schemes

194,120

71,151

285,696

149,826