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REGISTERED NUMBER: 07956820 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

INTERAXIS MACHINERY SERVICES LTD

INTERAXIS MACHINERY SERVICES LTD (REGISTERED NUMBER: 07956820)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INTERAXIS MACHINERY SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: D L Jarrett
M Oldham





REGISTERED OFFICE: Unit 29 Burtonwood Industrial Centre
Burtonwood
Warrington
Cheshire
WA5 4HX





REGISTERED NUMBER: 07956820 (England and Wales)





ACCOUNTANTS: Wallwork Nelson & Johnson
Chandler House
7 Ferry Road Office Park
Riversway
Preston
Lancashire
PR2 2YH

INTERAXIS MACHINERY SERVICES LTD (REGISTERED NUMBER: 07956820)

BALANCE SHEET
29 FEBRUARY 2024

29/2/24 28/2/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 114,120 127,602

CURRENT ASSETS
Stocks 5 135,000 136,300
Debtors 6 147,154 160,903
Cash at bank and in hand 27,792 8,902
309,946 306,105
CREDITORS
Amounts falling due within one year 7 236,174 184,521
NET CURRENT ASSETS 73,772 121,584
TOTAL ASSETS LESS CURRENT
LIABILITIES

187,892

249,186

CREDITORS
Amounts falling due after more than one
year

8

(57,097

)

(110,144

)

PROVISIONS FOR LIABILITIES (19,533 ) (21,957 )
NET ASSETS 111,262 117,085

CAPITAL AND RESERVES
Called up share capital 10 100 100
Revaluation reserve 11 13,754 -
Retained earnings 97,408 116,985
SHAREHOLDERS' FUNDS 111,262 117,085

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

INTERAXIS MACHINERY SERVICES LTD (REGISTERED NUMBER: 07956820)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:




M Oldham - Director



D L Jarrett - Director


INTERAXIS MACHINERY SERVICES LTD (REGISTERED NUMBER: 07956820)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Interaxis Machinery Services Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

INTERAXIS MACHINERY SERVICES LTD (REGISTERED NUMBER: 07956820)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

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.

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and therefore continue to prepare the financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 March 2023 158,478 548 26,026 2,587 187,639
Additions 2,300 - 20,319 2,269 24,888
Disposals (39,033 ) - (6,000 ) - (45,033 )
Revaluations 2,128 - - - 2,128
At 29 February 2024 123,873 548 40,345 4,856 169,622
DEPRECIATION
At 1 March 2023 48,000 309 9,512 2,216 60,037
Charge for year 7,244 36 5,266 443 12,989
Eliminated on disposal - - (2,672 ) - (2,672 )
Revaluation adjustments (14,852 ) - - - (14,852 )
At 29 February 2024 40,392 345 12,106 2,659 55,502
NET BOOK VALUE
At 29 February 2024 83,481 203 28,239 2,197 114,120
At 28 February 2023 110,478 239 16,514 371 127,602

Plant and machinery with a carrying amount of £83,481 was revalued at 29 February 2024 by the Directors based on the market value of those assets. It is the opinion of the Directors that these carrying values continue to reflect the open market value of those assets.

If revalued assets were stated on an historical costs basis rather than fair value basis, the total amounts included would have been as follows:

Plant and machinery

20242023
££

Cost 121,745 158,478
Accumulated depreciation (55,244)(48,000)
Carrying value66,501110,478

INTERAXIS MACHINERY SERVICES LTD (REGISTERED NUMBER: 07956820)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 29 February 2024 is represented by:

Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Valuation in 2024 2,128 - - - 2,128
Cost 121,745 548 40,345 4,856 167,494
123,873 548 40,345 4,856 169,622

5. STOCKS
29/2/24 28/2/23
£    £   
Work-in-progress 135,000 136,300

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Trade debtors 140,819 128,718
Other debtors 1,500 1,500
Directors' current accounts - 16,738
Prepayments 4,835 13,947
147,154 160,903

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Bank loans and overdrafts 10,000 9,950
Other loans 50,000 49,755
Hire purchase contracts (see note 9) 4,350 3,946
Trade creditors 49,531 44,759
Tax 31,897 17,992
Social security and other taxes 7,734 7,678
Pension control 1,282 1,178
VAT 47,697 45,910
Directors' current accounts 29,370 -
Accruals and deferred income 4,313 3,353
236,174 184,521

INTERAXIS MACHINERY SERVICES LTD (REGISTERED NUMBER: 07956820)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29/2/24 28/2/23
£    £   
Bank loans - 1-2 years 10,000 10,201
Bank loans - 2-5 years 7,497 12,347
Other loans - 1-2 years 33,170 54,369
Other loans - 2-5 years - 29,046
Hire purchase contracts (see note 9) 6,430 4,181
57,097 110,144

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
29/2/24 28/2/23
£    £   
Net obligations repayable:
Within one year 4,350 3,946
Between one and five years 6,430 4,181
10,780 8,127

Non-cancellable operating leases
29/2/24 28/2/23
£    £   
Within one year 3,950 23,701
Between one and five years - 3,950
3,950 27,651

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29/2/24 28/2/23
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Revaluation
reserve
£   
Gain on revaluation 13,754

At 29 February 2024 13,754