28 false false false false true false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 867,164 100 867,064 867,064 867,164 xbrli:pure xbrli:shares iso4217:GBP 04556896 2023-07-01 2024-06-30 04556896 2024-06-30 04556896 2023-06-30 04556896 2022-07-01 2023-06-30 04556896 2023-06-30 04556896 2022-06-30 04556896 core:Subsidiary1 2023-07-01 2024-06-30 04556896 core:FurnitureFittings 2023-07-01 2024-06-30 04556896 bus:Director4 2023-07-01 2024-06-30 04556896 core:FurnitureFittings 2023-06-30 04556896 core:FurnitureFittings 2024-06-30 04556896 core:WithinOneYear 2024-06-30 04556896 core:WithinOneYear 2023-06-30 04556896 core:ShareCapital 2024-06-30 04556896 core:ShareCapital 2023-06-30 04556896 core:CapitalRedemptionReserve 2024-06-30 04556896 core:CapitalRedemptionReserve 2023-06-30 04556896 core:RetainedEarningsAccumulatedLosses 2024-06-30 04556896 core:RetainedEarningsAccumulatedLosses 2023-06-30 04556896 core:CostValuation core:Non-currentFinancialInstruments 2023-06-30 04556896 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-06-30 04556896 core:CostValuation core:Non-currentFinancialInstruments 2024-06-30 04556896 core:Non-currentFinancialInstruments 2024-06-30 04556896 core:Non-currentFinancialInstruments 2023-06-30 04556896 core:FurnitureFittings 2023-06-30 04556896 bus:SmallEntities 2023-07-01 2024-06-30 04556896 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 04556896 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 04556896 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04556896 bus:FullAccounts 2023-07-01 2024-06-30
COMPANY REGISTRATION NUMBER: 04556896
Axis Mason Limited
Filleted Unaudited Financial Statements
For the year ended
30 June 2024
Axis Mason Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
63,072
84,096
Investments
6
867,064
867,164
---------
---------
930,136
951,260
Current assets
Stocks
2,600
Debtors
7
316,326
363,881
Cash at bank and in hand
2,657
6,553
---------
---------
321,583
370,434
Creditors: amounts falling due within one year
8
1,076,184
1,128,456
------------
------------
Net current liabilities
754,601
758,022
---------
---------
Total assets less current liabilities
175,535
193,238
Provisions
Taxation including deferred tax
17,952
---------
---------
Net assets
175,535
175,286
---------
---------
Capital and reserves
Called up share capital
25
25
Capital redemption reserve
75
75
Profit and loss account
175,435
175,186
---------
---------
Shareholders funds
175,535
175,286
---------
---------
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 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Axis Mason Limited
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 12 March 2025 , and are signed on behalf of the board by:
J J McDonald
Director
Company registration number: 04556896
Axis Mason Limited
Notes to the Financial Statements
Year ended 30 June 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 160 Borough High Street, London, United Kingdom, SE1 1LB.
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.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixture and fittings
-
25% reducing balance
Equipment
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 28 (2023: 31 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 July 2023 and 30 June 2024
171,538
337,655
509,193
---------
---------
---------
Depreciation
At 1 July 2023
123,570
301,527
425,097
Charge for the year
11,992
9,032
21,024
---------
---------
---------
At 30 June 2024
135,562
310,559
446,121
---------
---------
---------
Carrying amount
At 30 June 2024
35,976
27,096
63,072
---------
---------
---------
At 30 June 2023
47,968
36,128
84,096
---------
---------
---------
6. Investments
Shares in group undertakings
£
Cost
At 1 July 2023
867,164
Disposals
( 100)
---------
At 30 June 2024
867,064
---------
Impairment
At 1 July 2023 and 30 June 2024
---------
Carrying amount
At 30 June 2024
867,064
---------
At 30 June 2023
867,164
---------
Subsidiaries, associates and other investments
Class of share
Percentage of shares held
Subsidiary undertakings
Axis Mason Limited
Ordinary
100
The results and capital and reserves for the year are as follows:
Capital and reserves
Profit/(loss) for the year
2024
2023
2024
2023
£
£
£
£
Subsidiary undertakings
Axis Mason Limited
997,469
996,177
1,292
(57,367)
---------
---------
-------
--------
7. Debtors
2024
2023
£
£
Trade debtors
33,816
104,952
Amounts owed by group undertakings and undertakings in which the company has a participating interest
39,080
88,775
Other debtors
243,430
170,154
---------
---------
316,326
363,881
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
76,048
82,519
Amounts owed to group undertakings and undertakings in which the company has a participating interest
941,041
928,769
Social security and other taxes
46,693
42,858
Other creditors
12,402
74,310
------------
------------
1,076,184
1,128,456
------------
------------
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
137,937
209,062
---------
---------