Alexika Limited |
Notes to the Accounts |
for the year ended 30 September 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. |
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Computer and office equipment |
over 4 years |
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Website |
over 4 years |
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Software |
over 4 years |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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2 |
Employees |
2024 |
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2023 |
Number |
Number |
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Average number of persons employed by the company |
2 |
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2 |
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3 |
Intangible fixed assets |
£ |
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Goodwill: |
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Cost |
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At 1 October 2023 |
70,000 |
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At 30 September 2024 |
70,000 |
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Amortisation |
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At 1 October 2023 |
70,000 |
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At 30 September 2024 |
70,000 |
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Net book value |
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At 30 September 2024 |
- |
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Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years. |
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4 |
Tangible fixed assets |
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Office & computer equipment |
£ |
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Cost |
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At 1 October 2023 |
24,880 |
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At 30 September 2024 |
24,880 |
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Depreciation |
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At 1 October 2023 |
24,588 |
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Charge for the year |
215 |
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At 30 September 2024 |
24,803 |
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Net book value |
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At 30 September 2024 |
77 |
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At 30 September 2023 |
292 |
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5 |
Debtors |
2024 |
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2023 |
£ |
£ |
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Trade debtors |
34,117 |
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31,760 |
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Other debtors |
2,439 |
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4,490 |
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36,556 |
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36,250 |
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6 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
£ |
£ |
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Trade creditors |
5,994 |
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5,634 |
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Director's loan account |
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2,924 |
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6,776 |
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Taxation and social security costs |
17,897 |
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10,445 |
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Other creditors |
850 |
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825 |
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27,665 |
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23,680 |
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7 |
Controlling party |
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The company is controlled by MJ Robinson by virtue of his ownership of 100% of the issued share capital of the company. |
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8 |
Other information |
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Alexika Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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Harden Coach House |
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Clapham Road, Austwick |
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Lancaster |
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LA2 8BQ |