REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 September 2024 |
for |
Axiomatic Technology Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 September 2024 |
for |
Axiomatic Technology Limited |
Axiomatic Technology Limited (Registered number: 02955555) |
Contents of the Financial Statements |
for the year ended 30 September 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Axiomatic Technology Limited |
Company Information |
for the year ended 30 September 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Cawley House |
149-155 Canal Street |
Nottingham |
Nottinghamshire |
NG1 7HR |
Axiomatic Technology Limited (Registered number: 02955555) |
Abridged Balance Sheet |
30 September 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Share premium |
Revaluation reserve | 7 |
Capital redemption reserve |
Non-distributable reserves | ( |
) | ( |
) |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps 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 Sections 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. |
Axiomatic Technology Limited (Registered number: 02955555) |
Abridged Balance Sheet - continued |
30 September 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Axiomatic Technology Limited (Registered number: 02955555) |
Notes to the Financial Statements |
for the year ended 30 September 2024 |
1. | STATUTORY INFORMATION |
Axiomatic Technology Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Development costs |
Development costs, being capitalised development costs from 2010, are now fully amortised. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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 and loss account as an expense as it is incurred. |
Expenditure on development activities, whereby research findings are applied to a plan or design for the production of new or substantially improved products and processes, is capitalised if the product or process is technically and commercially feasible and the company has sufficient resources to complete development. Other development expenditure is recognised in the profit and loss account as an expense as it is incurred. Capitalised development expenditure is stated at cost less accumulated amortisation and impairment losses. |
Amortisation is charged to the profit and loss account on a straight-line basis over the expected period the product is to be sold or used which is considered by the directors as 20 years. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Government grants |
Government grants of a revenue nature are recognised in the profit and loss account of the period to which they relate. |
Axiomatic Technology Limited (Registered number: 02955555) |
Notes to the Financial Statements - continued |
for the year ended 30 September 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 October 2023 |
and 30 September 2024 |
AMORTISATION |
At 1 October 2023 |
and 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST OR VALUATION |
At 1 October 2023 |
Additions |
At 30 September 2024 |
DEPRECIATION |
At 1 October 2023 |
Charge for year |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
Cost or valuation at 30 September 2024 is represented by: |
Totals |
£ |
Valuation in 2002 | 21,768 |
Valuation in 2007 | 50,000 |
Valuation in 2015 | (50,000 | ) |
Valuation in 2023 | 275,000 |
Cost | 232,733 |
529,501 |
Axiomatic Technology Limited (Registered number: 02955555) |
Notes to the Financial Statements - continued |
for the year ended 30 September 2024 |
5. | TANGIBLE FIXED ASSETS - continued |
If Freehold property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 178,232 | 178,232 |
Aggregate depreciation | 77,483 | 73,918 |
Freehold land and buildings were valued on an open market basis on 30 September 2024 by the directors . |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 8,500 | 8,500 |
7. | RESERVES |
Revaluation |
reserve |
£ |
At 1 October 2023 |
Transfer to profit & loss | (5,935 | ) |
Deferred tax transfer | (9,667 | ) |
At 30 September 2024 |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
Interest is being accrued on directors loan and current account balances at 1% over bank base rate. |