Caseware UK (AP4) 2023.0.135 2023.0.135 2024-10-312024-10-31false2023-11-01truefalseNo description of principal activity11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC517644 2023-11-01 2024-10-31 SC517644 2022-11-01 2023-10-31 SC517644 2024-10-31 SC517644 2023-10-31 SC517644 c:Director1 2023-11-01 2024-10-31 SC517644 c:RegisteredOffice 2023-11-01 2024-10-31 SC517644 d:MotorVehicles 2023-11-01 2024-10-31 SC517644 d:MotorVehicles 2024-10-31 SC517644 d:MotorVehicles 2023-10-31 SC517644 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 SC517644 d:OfficeEquipment 2023-11-01 2024-10-31 SC517644 d:OfficeEquipment 2024-10-31 SC517644 d:OfficeEquipment 2023-10-31 SC517644 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 SC517644 d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 SC517644 d:FreeholdInvestmentProperty 2023-11-01 2024-10-31 SC517644 d:FreeholdInvestmentProperty 2024-10-31 SC517644 d:FreeholdInvestmentProperty 2023-10-31 SC517644 d:CurrentFinancialInstruments 2024-10-31 SC517644 d:CurrentFinancialInstruments 2023-10-31 SC517644 d:Non-currentFinancialInstruments 2024-10-31 SC517644 d:Non-currentFinancialInstruments 2023-10-31 SC517644 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 SC517644 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 SC517644 d:Non-currentFinancialInstruments d:AfterOneYear 2024-10-31 SC517644 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 SC517644 d:ShareCapital 2024-10-31 SC517644 d:ShareCapital 2023-10-31 SC517644 d:RetainedEarningsAccumulatedLosses 2024-10-31 SC517644 d:RetainedEarningsAccumulatedLosses 2023-10-31 SC517644 c:OrdinaryShareClass1 2023-11-01 2024-10-31 SC517644 c:OrdinaryShareClass1 2024-10-31 SC517644 c:OrdinaryShareClass1 2023-10-31 SC517644 c:FRS102 2023-11-01 2024-10-31 SC517644 c:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 SC517644 c:FullAccounts 2023-11-01 2024-10-31 SC517644 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 SC517644 2 2023-11-01 2024-10-31 SC517644 e:PoundSterling 2023-11-01 2024-10-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC517644










AXIL ESTATES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

 
AXIL ESTATES LIMITED
 

COMPANY INFORMATION


Director
Mr S Shimi 




Registered number
SC517644



Registered office
14 City Quay
Camperdown Street

Dundee

DD1 3JA




Accountants
EQ Accountants Limited
Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
AXIL ESTATES LIMITED
REGISTERED NUMBER: SC517644

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024

2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
44,580
51,020

Investment property
  
392,010
321,260

  
436,590
372,280

Current assets
  

Bank and cash balances
  
449,585
523,489

  
449,585
523,489

Creditors: amounts falling due within one year
 6 
(675,122)
(684,260)

Net current liabilities
  
 
 
(225,537)
 
 
(160,771)

Total assets less current liabilities
  
211,053
211,509

Creditors: amounts falling due after more than one year
 7 
(6,113)
(16,443)

Provisions for liabilities
  

Deferred tax
  
(11,145)
(12,780)

  
 
 
(11,145)
 
 
(12,780)

Net assets
  
193,795
182,286


Capital and reserves
  

Called up share capital 
 8 
2
2

Profit And Loss Account
  
193,793
182,284

  
193,795
182,286


Page 1

 
AXIL ESTATES LIMITED
REGISTERED NUMBER: SC517644

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 March 2025.




Mr S Shimi
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
AXIL ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

AXIL Estates Limited is a private company, limited by shares, domiciled in Scotland with registration number SC517644. The registered office is 14 City Quay, Camperdown Street, Dundee, Scotland, DD1 3JA. 
The company's functional and presentation currency is GBP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
AXIL ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


Page 4

 
AXIL ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
10%
Office equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 5

 
AXIL ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 November 2023
55,075
2,822
57,897



At 31 October 2024

55,075
2,822
57,897



Depreciation


At 1 November 2023
5,508
1,369
6,877


Charge for the year on owned assets
5,508
932
6,440



At 31 October 2024

11,016
2,301
13,317



Net book value



At 31 October 2024
44,059
521
44,580



At 31 October 2023
49,567
1,453
51,020


5.


Investment property


Freehold investment property

£



Valuation


At 1 November 2023
321,260


Additions at cost
70,750



At 31 October 2024
392,010

The 2024 valuations were made by the Directors, on an open market value for existing use basis.




Page 6

 
AXIL ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,354
10,098

Other taxation and social security
4,181
18,280

Other creditors
656,460
652,611

Accruals and deferred income
4,127
3,271

675,122
684,260





7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
6,113
16,443

6,113
16,443





8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



300 (2024 - 300) Ordinary Shares shares of £0.005 each
2
2



Page 7