Company registration number 11423147 (England and Wales)
23 DAXZILLION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
23 DAXZILLION LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
23 DAXZILLION LIMITED
BALANCE SHEET
AS AT 30 JUNE 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
46,158
62,675
Cash at bank and in hand
701
235
46,859
62,910
Creditors: amounts falling due within one year
4
(21,994)
(25,741)
Net current assets
24,865
37,169
Creditors: amounts falling due after more than one year
5
(34,043)
(39,324)
Net liabilities
(9,178)
(2,155)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(9,278)
(2,255)
Total equity
(9,178)
(2,155)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 13 September 2024
O Frances
Director
Company registration number 11423147 (England and Wales)
23 DAXZILLION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 2 -
1
Accounting policies
Company information

23 Daxzillion Limited is a private company limited by shares incorporated in England and Wales. The registered office is 166 College Road, Harrow, Middlesex, HA1 1RA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.3
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.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

 

1.4
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

23 DAXZILLION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Corporation tax recoverable
11,264
-
0
Other debtors
34,894
62,675
46,158
62,675
4
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
5,283
5,162
Corporation tax
12,718
15,432
Other creditors
3,993
5,147
21,994
25,741
5
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
34,043
39,324

Included in bank loans within one year and after more than one year is £34,043 (2022: £39,324) in respect of a bank loan which is guaranteed by the government under the Bounce Back Loan Scheme.

6
Related party transactions

Included within debtors is amounts of £34,894 (2022: £47,244) owed by the director to the company at the balance sheet date. Interest charged on overdrawn loan is £873 (2022: £871) and maximum amount outstanding during the year is £47,244.

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