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REGISTERED NUMBER: 10587012 (England and Wales)













Financial Statements

for the Year Ended 31 December 2023

for

Flux Axis Limited

Flux Axis Limited (Registered number: 10587012)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Flux Axis Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M K Harrison
M N Johnson



SECRETARY: M K Harrison



REGISTERED OFFICE: Hangar 88
Marston Business Park
Tockwith
York
YO26 7QF



REGISTERED NUMBER: 10587012 (England and Wales)



SENIOR STATUTORY AUDITOR: Phillipa Symington ACA CA(SA)



AUDITORS: Clive Owen LLP
Chartered Accountants
& Statutory Auditors
Oak Tree House, Harwood Road
Northminster Business Park
Upper Poppleton
York
YO26 6QU

Flux Axis Limited (Registered number: 10587012)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 343,560 398,283

CURRENT ASSETS
Stocks 5 17,214 17,352
Debtors 6 75,626 71,202
Cash at bank 55,037 17,014
147,877 105,568
CREDITORS
Amounts falling due within one year 7 1,417,674 1,410,039
NET CURRENT LIABILITIES (1,269,797 ) (1,304,471 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(926,237

)

(906,188

)

CREDITORS
Amounts falling due after more than one
year

8

(27,170

)

(81,511

)

PROVISIONS FOR LIABILITIES 10 (34,720 ) -
NET LIABILITIES (988,127 ) (987,699 )

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings (988,227 ) (987,799 )
SHAREHOLDERS' FUNDS (988,127 ) (987,699 )

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2024 and were signed on its behalf by:





M N Johnson - Director


Flux Axis Limited (Registered number: 10587012)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Flux Axis Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Going concern
The directors assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors make this assessment in respect of a period of at least one year from the date the financial statements are approved.

The financial statements are prepared on the going concern basis which assumes that the company will continue to trade. If the company is unable to continue to trade, adjustments would be required to reduce the value of assets to their recoverable amounts, to provide for any further liabilities that might arise and to analyse long term liabilities as current liabilities.

The going concern basis is dependent upon the support of the parent company who have provided an appropriate undertaking of support.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents the fair value of the right to consideration for goods sold and services provided to customers.

Income recognition
Income from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has been transferred to to buyer. Income from the rendering of services is recognised by reference to the stage of completion to the extent that the outcome of a contract can be estimated reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost and 15% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 25% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Flux Axis Limited (Registered number: 10587012)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

Flux Axis Limited (Registered number: 10587012)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 596,488 556 32,900 629,944
DEPRECIATION
At 1 January 2023 201,489 403 29,769 231,661
Charge for year 51,737 79 2,907 54,723
At 31 December 2023 253,226 482 32,676 286,384
NET BOOK VALUE
At 31 December 2023 343,262 74 224 343,560
At 31 December 2022 394,999 153 3,131 398,283

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 January 2023
and 31 December 2023 584,976
DEPRECIATION
At 1 January 2023 194,857
Charge for year 49,435
At 31 December 2023 244,292
NET BOOK VALUE
At 31 December 2023 340,684
At 31 December 2022 390,119

5. STOCKS
2023 2022
£    £   
Stocks 17,214 17,352

A provision for obsolete stock amounting to £12,611 (2022: £10,103) has been recognised during the period.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 66,094 60,586
Prepayments and accrued income 9,532 10,616
75,626 71,202

Flux Axis Limited (Registered number: 10587012)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 54,341 56,572
Trade creditors 29,362 34,468
Amounts owed to group undertakings 1,305,817 1,292,198
Taxation and social security 25,407 14,770
Other creditors - 433
Accruals and deferred income 2,747 11,598
1,417,674 1,410,039

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 27,170 81,511

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 81,511 138,083

The above loans are secured against the assets to which they relate.

The company has granted a cross guarantee with Stage One Creative Services Limited over the HP liabilities.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 34,720 -

Deferred
tax
£   
Provided during year 34,720
Balance at 31 December 2023 34,720

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

Flux Axis Limited (Registered number: 10587012)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Phillipa Symington ACA CA(SA) (Senior Statutory Auditor)
for and on behalf of Clive Owen LLP

13. ULTIMATE PARENT COMPANY

The ultimate parent company is Stage One Group Limited, a private company, limited by shares, registered in England and Wales. The company's registered office is Hangar 88, Marston Business Park, Tockwith, YO26 7QF.

ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mark Johnson by virtue of his control of Stage One Group Limited.