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Registration number: 14138057

AXWDEV Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 May 2024

 

AXWDEV Limited

Contents

Company Information

1

Abridged Balance Sheet

2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

AXWDEV Limited

Company Information

Director

Mr Andrew Walker

Registered office

Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

Accountants

Ross + Partners
Chartered Certified Accountants
Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

 

AXWDEV Limited

(Registration number: 14138057)
Abridged Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

fixed assets

 

tangible assets

3

2,677

4,584

Current assets

 

Cash at bank and in hand

 

19,780

29,704

Creditors: Amounts falling due within one year

(21,744)

(16,832)

Net current (liabilities)/assets

 

(1,964)

12,872

Net assets

 

713

17,456

capital and reserves

 

Called up share capital

1

1

Profit and loss account

712

17,455

Total equity

 

713

17,456

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 5 September 2024
 

.........................................
Mr Andrew Walker
Director

   
     
 

AXWDEV Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

AXWDEV Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction
over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% straight line

Furniture and fittings

33% straight line

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

AXWDEV Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

3

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 June 2023

559

6,282

6,841

Additions

524

-

524

At 31 May 2024

1,083

6,282

7,365

Depreciation

At 1 June 2023

184

2,073

2,257

Charge for the year

358

2,073

2,431

At 31 May 2024

542

4,146

4,688

Carrying amount

At 31 May 2024

541

2,136

2,677

At 31 May 2023

375

4,209

4,584

4

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1