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REGISTERED NUMBER: 14863044 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 11 MAY 2023 TO 31 OCTOBER 2024

FOR

AXEL 123 LIMITED

AXEL 123 LIMITED (REGISTERED NUMBER: 14863044)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 11 MAY 2023 TO 31 OCTOBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AXEL 123 LIMITED

COMPANY INFORMATION
FOR THE PERIOD 11 MAY 2023 TO 31 OCTOBER 2024







DIRECTORS: B J Gill
S H J Kay FCCA
D Thompson





REGISTERED OFFICE: Continuity House
Queen Margarets Road
Scarborough
North Yorkshire
YO11 2YH





REGISTERED NUMBER: 14863044 (England and Wales)





ACCOUNTANTS: Fortus Limited
Business Advisors & Accountants
5&6 Manor Court
Manor Garth
Scarborough
North Yorkshire
YO11 3TU

AXEL 123 LIMITED (REGISTERED NUMBER: 14863044)

BALANCE SHEET
31 OCTOBER 2024

Notes £    £   
FIXED ASSETS
Tangible assets 4 52,778

CURRENT ASSETS
Stocks 2,943,028
Debtors 5 1,406,900
Cash at bank 90,336
4,440,264
CREDITORS
Amounts falling due within one year 6 3,706,328
NET CURRENT ASSETS 733,936
TOTAL ASSETS LESS CURRENT LIABILITIES 786,714

CAPITAL AND RESERVES
Called up share capital 99
Retained earnings 786,615
786,714

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 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.

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 11 February 2025 and were signed on its behalf by:





S H J Kay FCCA - Director


AXEL 123 LIMITED (REGISTERED NUMBER: 14863044)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 11 MAY 2023 TO 31 OCTOBER 2024


1. STATUTORY INFORMATION

Axel 123 Limited 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.

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.

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.
Office and computer equipment - Straight line over 3 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period 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 period 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 balance sheet 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.

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.

AXEL 123 LIMITED (REGISTERED NUMBER: 14863044)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 11 MAY 2023 TO 31 OCTOBER 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 47 .

4. TANGIBLE FIXED ASSETS
Office
and
computer
equipment
£   
COST
Additions 100,000
At 31 October 2024 100,000
DEPRECIATION
Charge for period 47,222
At 31 October 2024 47,222
NET BOOK VALUE
At 31 October 2024 52,778

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 540,899
Other debtors 866,001
1,406,900

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 2,433,563
Taxation and social security 375,881
Other creditors 896,884
3,706,328

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
£   
Within one year 22,949
Between one and five years 20,887
43,836

AXEL 123 LIMITED (REGISTERED NUMBER: 14863044)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 11 MAY 2023 TO 31 OCTOBER 2024


8. RELATED PARTY DISCLOSURES

Included within creditors due within one year is £200,366 owed to a connected company. This loan is deemed to be repayable on demand, and no interest has been charged to the company on the amount outstanding.