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5AXISWORKS LTD

Registered Number
09217051
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

5AXISWORKS LTD
Company Information
for the year from 1 October 2023 to 30 September 2024

Directors

GAYDAR, Elena
GRIDNEV, Fedor

Registered Address

5 Artesian Close
London
NW10 8RW

Registered Number

09217051 (England and Wales)
5AXISWORKS LTD
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets36353,753
6353,753
Current assets
Stocks465,00085,000
Debtors80,671108,829
Cash at bank and on hand1,29920,334
146,970214,163
Creditors amounts falling due within one year5(91,113)(43,854)
Net current assets (liabilities)55,857170,309
Total assets less current liabilities56,492174,062
Creditors amounts falling due after one year6(122,692)(231,698)
Net assets(66,200)(57,636)
Capital and reserves
Called up share capital22
Profit and loss account(66,202)(57,638)
Shareholders' funds(66,200)(57,636)
The financial statements were approved and authorised for issue by the Board of Directors on 15 February 2025, and are signed on its behalf by:
GAYDAR, Elena
Director
Registered Company No. 09217051
5AXISWORKS LTD
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
The directors believe that the company is experiencing good levels of sales growth and that investment in new technology will improve it's commercial position, and that it is well placed to manage its business risks successfully. The accounts have been prepared on a going concern basis which assumes that the company will be able to continue to meet its financial obligations for a period of at least 12 months from the date of this report. In deciding that this basis was appropriate, the directors considered its cash flow forecasts and the likelihood of securing new investment if and as required. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
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.
Research and development
Expenditure on research activities, undertaken with the prospect of gaining new scientific or technical knowledge and understanding, is recognised in the profit or loss as an expense as incurred.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment3
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Government grants or assistance
Government grants received are released to the Income Statement on an accrual basis.
2.Average number of employees

20242023
Average number of employees during the year67
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 October 2329,59029,590
Additions635635
At 30 September 2430,22530,225
Depreciation and impairment
At 01 October 2325,83725,837
Charge for year3,7533,753
At 30 September 2429,59029,590
Net book value
At 30 September 24635635
At 30 September 233,7533,753
4.Stocks
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2024

2023

££
Other stocks65,00085,000
Total65,00085,000
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables19,3403,218
Bank borrowings and overdrafts37,97023,644
Taxation and social security22,3885,330
Other creditors11,41511,662
Total91,11343,854
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts122,692231,698
Total122,692231,698