Registered number
15501234
Axela Solutions Ltd
Filleted Accounts
31 May 2024
Axela Solutions Ltd
Registered number: 15501234
Balance Sheet
as at 31 May 2024
Notes 2024
£
Fixed assets
Investments 3 46,000
Current assets
Debtors 4 11,939
Creditors: amounts falling due within one year 5 (54,715)
Net current liabilities (42,776)
Net assets 3,224
Capital and reserves
Called up share capital 10,000
Profit and loss account (6,776)
Shareholders' funds 3,224
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Nicholas Kelly
Director
Approved by the board on 11 February 2025
Axela Solutions Ltd
Notes to the Accounts
for the period from 18 February 2024 to 31 May 2024
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Foreign currency translation
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.
2 Employees 2024
Number
Average number of persons employed by the company 0
3 Investments
Investments in
subsidiary
undertakings
£
Cost
Additions 46,000
At 31 May 2024 46,000
The company holds 20% or more of the share capital of the following companies:
Company Capital and Profit (loss)
Shares held reserves for the year
Class % PHP PHP
Axela Solutions Inc. Registered in the Philippines Ordinary 90 3,552,619 (70,845)
4 Debtors 2024
£
Trade debtors 1,939
Amounts owed by group undertakings and undertakings in which the company has a participating interest 9,900
Other debtors 100
11,939
5 Creditors: amounts falling due within one year 2024
£
Trade creditors 1,939
Amounts owed to group undertakings and undertakings in which the company has a participating interest 51,094
Other creditors 1,682
54,715
6 Controlling party
The company is under the control of its directors. The company's immediate and ultimate parent company is Axela Limited, a company registered in the UK. The ultimate controlling party is N Kelly who controls 100% of the shares of Axela Limited.
7 Other information
Axela Solutions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
32 Station Parade
London
NW2 4NX
Axela Solutions Ltd 15501234 false 2024-02-18 2024-05-31 2024-05-31 VT Final Accounts July 2024 Nicholas Kelly No description of principal activity 15501234 2024-02-18 2024-05-31 15501234 bus:PrivateLimitedCompanyLtd 2024-02-18 2024-05-31 15501234 bus:AuditExemptWithAccountantsReport 2024-02-18 2024-05-31 15501234 bus:Director40 2024-02-18 2024-05-31 15501234 countries:England 2024-02-18 2024-05-31 15501234 bus:FRS102 2024-02-18 2024-05-31 15501234 bus:FilletedAccounts 2024-02-18 2024-05-31 15501234 2024-05-31 15501234 core:WithinOneYear 2024-05-31 15501234 core:ShareCapital 2024-05-31 15501234 core:RetainedEarningsAccumulatedLosses 2024-05-31 15501234 2024-02-17 iso4217:GBP xbrli:pure