REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
AXON MOORE GROUP LTD |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
AXON MOORE GROUP LTD |
AXON MOORE GROUP LTD (REGISTERED NUMBER: 09510842) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
AXON MOORE GROUP LTD |
COMPANY INFORMATION |
for the Year Ended 31 December 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditor |
Chartered Accountants |
Douglas Bank House |
Wigan Lane |
Wigan |
Lancashire |
WN1 2TB |
BANKERS: |
42-46 Market Street |
Manchester |
M1 1PB |
SOLICITORS: |
50 Fountain Street |
Manchester |
M2 2AS |
AXON MOORE GROUP LTD (REGISTERED NUMBER: 09510842) |
STATEMENT OF FINANCIAL POSITION |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Merger reserve | 9 |
Capital redemption reserve | 9 |
Other reserves | 9 |
Share premium | 9 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
AXON MOORE GROUP LTD (REGISTERED NUMBER: 09510842) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Axon Moore Group Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Axon Moore Group Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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. |
Financial instruments |
The company holds only basic financial instruments, as defined under Section 11 of FRS 102. |
Trade, other debtors and director's loans are initially recognised at the transaction price and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
Short term financial liabilities, including trade and other creditors, any overdrafts and related party loans, are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due, those payable after one year should be measured at amortised cost, using the effective interest rate method. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
AXON MOORE GROUP LTD (REGISTERED NUMBER: 09510842) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
Fixed asset investments |
Investments in subsidiaries are initially measured at cost. After initial recognition, fixed asset investments are measured at cost less any accumulated impairment losses. |
Other investments |
Other investments are initially stated at cost and subsequently remeasured at fair value each period end, with any gains/losses arising being recognised in the profit and loss account. . |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 January 2023 | 4,665,126 |
Revaluation | ( |
) | (5,261 | ) |
At 31 December 2023 | 4,659,865 |
NET BOOK VALUE |
At 31 December 2023 | 4,659,865 |
At 31 December 2022 | 4,665,126 |
Cost or valuation at 31 December 2023 is represented by: |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
Valuation in 2020 | - | 86,638 | 86,638 |
Cost | 4,396,893 | 176,334 | 4,573,227 |
4,396,893 | 262,972 | 4,659,865 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
AXON MOORE GROUP LTD (REGISTERED NUMBER: 09510842) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
Accruals and deferred income |
7. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax |
Capital gains | 20,345 | 21,660 |
Other provisions | 60,140 | 60,140 |
Deferred | Other |
tax | provisions |
£ | £ |
Balance at 1 January 2023 |
Credited during year | (1,315 | ) | - |
Balance at 31 December 2023 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £0.10 | 8,008 | 8,008 |
9. | RESERVES |
Capital |
Retained | Merger | redemption |
earnings | reserve | reserve |
£ | £ | £ |
At 1 January 2023 | 401,063 | 2,369,887 | 2,300 |
Profit for the year | 1,790,850 | - | - |
Dividends | (1,800,000 | ) | - | - |
Investment valuation transfer | 3,946 | - | - |
At 31 December 2023 | 395,859 | 2,369,887 | 2,300 |
AXON MOORE GROUP LTD (REGISTERED NUMBER: 09510842) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2023 |
9. | RESERVES - continued |
Other | Share |
reserves | premium | Totals |
£ | £ | £ |
At 1 January 2023 | 64,978 | 9,472 | 2,847,700 |
Profit for the year | - | - | 1,790,850 |
Dividends | - | - | (1,800,000 | ) |
Investment valuation transfer | (3,946 | ) | - | - |
At 31 December 2023 | 61,032 | 9,472 | 2,838,550 |
Retained earnings includes all current and prior retained period profits and losses. |
Other reserves represent the revalued investment gains on the external investments. |
The company has taken the exemption, under Section 612 of the Companies Act 2006, from having to recognise a share premium on the difference between the fair value of the shares issued and their nominal value. Accordingly, the value over and above the nominal value of the shares issued has been credited to a merger reserve. |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | GUARANTEES AND OTHER FINANCIAL COMMITMENTS |
The company has total lease commitments at the year end of £281,155 (2022 - £346,176). |
12. | ULTIMATE PARENT COMPANY |
The company's ultimate parent company is Axon Moore Holdings Limited, a company incorporated in England and Wales. Financial statements of Axon Moore Holdings Limited are available at Suite 1.1, Canada House, Chepstow Street, M1 5FW. |