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COMPANY REGISTRATION NUMBER: 03251655
Axis Estates Limited
Filleted Unaudited Financial Statements
31 May 2024
Axis Estates Limited
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
Current assets
Stocks
395,179
369,097
Debtors
4
7,331
4,101
Cash at bank and in hand
4,825
5,767
---------
---------
407,335
378,965
Creditors: amounts falling due within one year
5
217,041
194,406
---------
---------
Net current assets
190,294
184,559
---------
---------
Total assets less current liabilities
190,294
184,559
Creditors: amounts falling due after more than one year
6
1,400,000
1,400,000
------------
------------
Net liabilities
( 1,209,706)
( 1,215,441)
------------
------------
Capital and reserves
Called up share capital
10,000
10,000
Profit and loss account
( 1,219,706)
( 1,225,441)
------------
------------
Shareholders deficit
( 1,209,706)
( 1,215,441)
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Axis Estates Limited
Statement of Financial Position (continued)
31 May 2024
These financial statements were approved by the board of directors and authorised for issue on 24 February 2025 , and are signed on behalf of the board by:
Mr C Dyason
Director
Company registration number: 03251655
Axis Estates Limited
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Primes Corner, Histon, Cambridge, CB24 9AG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis which assumes the company will continue as a going concern for the foreseeable future. This is based on the continuing support provided by the parent company.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Debtors
2024
2023
£
£
Trade debtors
458
189
Other debtors
6,873
3,912
-------
-------
7,331
4,101
-------
-------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,031
Amounts owed to group undertakings and undertakings in which the company has a participating interest
211,022
185,523
Social security and other taxes
327
Other creditors
6,019
5,525
---------
---------
217,041
194,406
---------
---------
6. Creditors: amounts falling due after more than one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,400,000
1,400,000
------------
------------
7. Related party transactions
In the director's opinion the company's immediate controlling party is Devantier Group Limited, the ultimate parent undertaking. The company is ultimately controlled by the director Mr C R Dyason as a result of his shareholding in the ultimate parent undertaking. At 31 May 2024 the company owed Devantier Group Limited £1,611,022 (2023: £1,585,523).