ACCOMAX LIMITED

Company Registration Number:
01686315 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

ACCOMAX LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

ACCOMAX LIMITED

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 250,104 250,122
Total fixed assets: 250,104 250,122
Current assets
Cash at bank and in hand: 9,700 3,155
Total current assets: 9,700 3,155
Creditors: amounts falling due within one year:   (18,309) (12,258)
Net current assets (liabilities): (8,609) (9,103)
Total assets less current liabilities: 241,495 241,019
Creditors: amounts falling due after more than one year:   (30,000) (30,000)
Total net assets (liabilities): 211,495 211,019
Capital and reserves
Called up share capital: 13,000 13,000
Profit and loss account: 198,495 198,019
Shareholders funds: 211,495 211,019

The notes form part of these financial statements

ACCOMAX LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption 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 Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 16 September 2024
and signed on behalf of the board by:

Name: Mrs Z Chaudhry
Status: Director

The notes form part of these financial statements

ACCOMAX LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is recognised at the fair value of the consideration received for rent.

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Fixtures, fittings and equipment: 15% reducing balance. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Valuation and information policy

The investment property which is a property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

Other accounting policies

Financial instruments: The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Basic financial assets: Basic financial assets, which include bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities: Basic financial liabilities including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Taxation: The tax expense represents the tax currently payable. Current tax: The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

ACCOMAX LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 0 0

ACCOMAX LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible Assets

Total
Cost £
At 01 January 2023 258,613
At 31 December 2023 258,613
Depreciation
At 01 January 2023 8,491
Charge for year 18
At 31 December 2023 8,509
Net book value
At 31 December 2023 250,104
At 31 December 2022 250,122

Investment property: The carrying values are considered to fairly represent open market value at the balance sheet date. No depreciation is provided in respect of the property. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

ACCOMAX LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Related party transactions

Name of the related party:
Relationship:
Director
Description of the Transaction: At the balance sheet date, £16,319 (2022 - £10,388) was owed to the director of the company. This unsecured loan is free of any interest charge and without any repayment terms.
£
Balance at 01 January 2023 10,388
Balance at 31 December 2023 16,319