Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.22022-12-19falseNo description of principal activity0truefalse 14548751 2022-12-18 14548751 2022-12-19 2023-12-31 14548751 2022-01-01 2022-12-18 14548751 2023-12-31 14548751 c:Director1 2022-12-19 2023-12-31 14548751 d:Non-currentFinancialInstruments d:ListedExchangeTraded 2023-12-31 14548751 d:Non-currentFinancialInstruments d:ListedExchangeTraded 2022-12-18 14548751 d:CurrentFinancialInstruments 2023-12-31 14548751 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 14548751 d:ShareCapital 2023-12-31 14548751 d:RetainedEarningsAccumulatedLosses 2023-12-31 14548751 c:FRS102 2022-12-19 2023-12-31 14548751 c:AuditExempt-NoAccountantsReport 2022-12-19 2023-12-31 14548751 c:FullAccounts 2022-12-19 2023-12-31 14548751 c:PrivateLimitedCompanyLtd 2022-12-19 2023-12-31 14548751 e:PoundSterling 2022-12-19 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 14548751









AXE CAPITAL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
AXE CAPITAL LIMITED
REGISTERED NUMBER: 14548751

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
Note
£

Fixed assets
  

Investments
 4 
10,589,370

  
10,589,370

Current assets
  

Cash at bank and in hand
  
136,985

  
136,985

Creditors: amounts falling due within one year
 5 
(10,205,652)

Net current (liabilities)/assets
  
 
 
(10,068,667)

  

Net assets
  
520,703


Capital and reserves
  

Called up share capital 
  
20

Retained earnings
  
520,683

Shareholders' funds
  
520,703

Page 1

 
AXE CAPITAL LIMITED
REGISTERED NUMBER: 14548751
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question 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 financial statements.

The Company's financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the Statement of Income and Retained Earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J Greenslade
Director

Date: 11 September 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
AXE CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Axe Capital Limited is a private company, limited by shares, domiciled and incorporated in England and Wales (registered number 14548751). The registered office address is 94 High Street, Sevenoaks, Kent, United Kingdom, TN13 1LP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast doubt on the Company's ability to continue as a going concern.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

Page 3

 
AXE CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.5

Financial instruments

Financial assets and financial liabilities are recognised in the Balance Sheet when the Company becomes a party to the contractual provisions of the instrument. 
Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.
Trade and other debtors and creditors are classified as basic financial instruments and measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Company will not be able to collect all amounts due.
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank, short-term bank deposits with an original maturity of three months or less and bank overdrafts which are an integral part of the Company’s cash management.
Financial liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.
Interest bearing bank loans, overdrafts and other loans which meet the criteria to be classified as basic financial instruments are initially recorded at the present value of cash payable to the bank, which is ordinarily equal to the proceeds received net of direct issue costs. These liabilities are subsequently measured at amortised cost, using the effective interest rate method.

Page 4

 
AXE CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average number of employees, including directors, during the period was 2.





Page 5

 
AXE CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

4.


Fixed asset investments





Listed investments

£



Valuation


Additions
12,175,193


Disposals
(2,373,250)


Revaluations
787,427



At 31 December 2023
10,589,370





5.


Creditors: Amounts falling due within one year

2023
£

Bank overdrafts
98

Other creditors
10,195,474

Accruals and deferred income
10,080

10,205,652



6.


Related party transactions

During the period, a director made loans to the Company totalling £16,166,047 and the Company repaid £8,377,076. At the year end, included in other creditors, is an amount of £7,788,972 owed to the director by the Company. These loans are unsecured, interest free and repayable on demand.


7.


Controlling party

The ultimate controlling party is J Greenslade by virtue of his ownership and directorship in the Company.

 
Page 6