2023-01-01 NI626866 2023-12-31 NI626866 2023-01-01 2023-12-31 NI626866 2022-12-31 NI626866 2022-01-01 2022-12-31 NI626866 uk-core:WithinOneYear 2022-12-31 NI626866 uk-core:WithinOneYear 2023-12-31 NI626866 uk-core:ShareCapital 2023-12-31 NI626866 uk-core:ShareCapital 2022-12-31 NI626866 uk-core:SharePremium 2023-12-31 NI626866 uk-core:SharePremium 2022-12-31 NI626866 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 NI626866 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 NI626866 uk-core:OtherMiscellaneousReserve 2023-12-31 NI626866 uk-bus:Director1 2023-01-01 2023-12-31 NI626866 uk-core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure NI626866 uk-bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 NI626866 uk-bus:FRS102 2023-01-01 2023-12-31 NI626866 uk-bus:FilletedAccounts 2023-01-01 2023-12-31 NI626866 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31
Axon Financial Systems Limited
Registered Number:NI626866
For the year ended 31 December 2023
Northern Ireland
Unaudited Financial Statements
2
For the year ended 31 December 2023
Axon Financial Systems Limited
Contents Page
1
Statement of Financial Position
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Notes to the Financial Statements
3
Registered Number :
NI626866
As at 31 December 2023
Axon Financial Systems Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
-
609
2
-
609
Current assets
Trade and other receivables
4,210,806
4,431,665
3
215,518
Cash and cash equivalents
263,463
4,695,128
4,426,324
Trade and other payables: amounts falling due within one
year
(2,424,375)
(1,890,248)
4
2,001,949
2,804,880
Net current assets
Total assets less current liabilities
2,804,880
2,002,558
2,804,880
Net assets
2,002,558
Capital and reserves
Called up share capital
223
223
Share premium account
47,940
47,940
Retained earnings
2,756,677
1,954,355
Other reserves
40
40
2,804,880
2,002,558
Shareholders' funds
For the year ended 31 December 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
L Walters Director
These financial statements were approved and authorised for issue by the Board on 01 March 2025 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 December 2023
Axon Financial Systems Limited
Notes to the Financial Statements
Statutory Information
Axon Financial Systems Limited is a private limited company, limited by shares, domiciled in Northern Ireland,
registration number NI626866.
Registered address:
Northern Court
16-18 Gloucester Street
Belfast
Northern Ireland
BT1 4LS
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration receivable on contracts excluding value added tax.
Intangible assets
Intellectual property costs are amortised at rates calculated to write off the asset on a straight line basis over its estimated useful economic life. Inpairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
33.3% Straight line
Furniture and Equipment
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 at the date of transaction. Exchange rate differences are taken into account in arriving at the operating result.
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For the year ended 31 December 2023
Axon Financial Systems Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Furniture and
Equipment
£
Cost or
valuation
At 01 January 2023
20,561
At 31 December 2023
20,561
Provision for depreciation and impairment
At 01 January 2023
19,952
Charge for year
609
At 31 December 2023
20,561
At 31 December 2023
Net book value
-
At 31 December 2022
609
3. Trade and other receivables
2022
2023
£
£
Trade debtors
675,566
784,524
Amounts owed by group undertakings and participating interests
3,639,392
3,359,707
Other debtors
116,707
66,575
4,210,806
4,431,665
4. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Trade creditors
30,378
19,611
Taxation and social security
507,803
578,727
Other creditors
1,352,067
1,826,037
1,890,248
2,424,375
5. Average number of persons employed
During the year the average number of employees was 84 (2022 : 58)
6. Parent-subsidiary relationship
Axon Financial Systems is a wholly owned subsidiary. Its parent undertaking is TRGRP Inc. The Registered office address of TRGRP Inc. is 140 E 45th Street, 11th Floor, New York NY 10017, USA.
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