Company Registration No. 08471779 (England and Wales)
AXIS BUSINESS PARK LIVERPOOL MANAGEMENT COMPANY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
Malthouse & Company
Chartered Accountant & Statutory Auditor
AXIS BUSINESS PARK LIVERPOOL MANAGEMENT COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
AXIS BUSINESS PARK LIVERPOOL MANAGEMENT COMPANY LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
23,471
33,115
Cash at bank and in hand
122,472
124,872
145,943
157,987
Creditors: amounts falling due within one year
5
(145,854)
(157,898)
Net current assets
89
89
Capital and reserves
Called up share capital
6
89
89

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

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

The financial statements were approved by the board of directors and authorised for issue on 20 December 2024 and are signed on its behalf by:
Mr G McLoughlin
Director
Company registration number 08471779 (England and Wales)
AXIS BUSINESS PARK LIVERPOOL MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

Axis Business Park Liverpool Management Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is Portal Way, Axis Business Park, Gillmoss, Liverpool, L11 0JA. The parent company is T.J. Morris Limited and the registered office is Portal Way, Axis Business Park, Gillmoss, Liverpool, L11 0JA.

 

TJ Morris Ltd is a subsidiary company of TJ Morris Group Ltd.

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.

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.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, taking into account reasonably possible changes in trading performance. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover shown in the profit and loss account represents amounts of service charge due from tenants during the period.

1.4
Cash and cash equivalents

Cash at bank and in hand 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.

 

AXIS BUSINESS PARK LIVERPOOL MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
1.5
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 initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
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.

AXIS BUSINESS PARK LIVERPOOL MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

 

 

3
Financial instruments
2024
2023
£
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
21,224
31,240
Carrying amount of financial liabilities
Measured at amortised cost
145,854
157,898
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
8,211
10,082
Other debtors
13,013
21,158
Prepayments and accrued income
2,247
1,875
23,471
33,115

 

5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
11,729
12,822
Amounts owed to group undertakings
106,991
118,264
Other creditors
17,860
18,650
Accruals and deferred income
9,274
8,162
145,854
157,898
AXIS BUSINESS PARK LIVERPOOL MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
6
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of 1p each
8,900
8,900
89
89
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

Senior Statutory Auditor:
Guy Playfer BA FCA (Senior Statutory Auditor)
Statutory Auditor:
Malthouse & Company
Date of audit report:
20 December 2024
8
Freehold land

The company has title to the freehold land which comprises the common parts of the Axis Business Park. This land was acquired at nil cost.

 

 

9
Related party transactions

The following amounts were outstanding at the reporting end date:

Other information

T.J. Morris Limited is the majority shareholder and corporate director of the company. During the year ended 30 June 2024 T.J. Morris Limited was invoiced £27,465 by the company in respect of service charges. At the year-end there is an intercompany balance of £106,991 due to T.J. Morris Limited and a trade creditor balance of £5,897 due to T J Morris Ltd. F & C Commercial Property Holdings Limited is also a shareholder of the company. During the year ended 30 June 2024 F & C Commercial Property Holdings Limited was invoiced £6,470 in respect of service charges. At the year-end £23,693 was due by the company to F & C Commercial Property Holdings Limited.

10
Ultimate controlling party

The ultimate parent company is T.J. Morris Limited, a company registered in England.

AXIS BUSINESS PARK LIVERPOOL MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
10
Ultimate controlling party
(Continued)
- 6 -

The ultimate controlling party is Mr T.J. Morris.

 

TJ Morris Ltd is a subsidiary company of TJM Group Ltd which is the ultimate parent company under the control of Tom Morris.

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