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REGISTERED NUMBER: 04631777 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

A.G. Axton & Sons (Wholesale) Limited

A.G. Axton & Sons (Wholesale) Limited (Registered number: 04631777)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A.G. Axton & Sons (Wholesale) Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: A G Axton





REGISTERED OFFICE: 12 West Links
Tollgate
Chandlers Ford
Eastleigh
Hampshire
SO53 3TG





REGISTERED NUMBER: 04631777 (England and Wales)





ACCOUNTANTS: Talbot Accounting Solutions LLP
Bartley Cottage
Ringwood Road
Bartley
Southampton
Hampshire
SO40 7LD

A.G. Axton & Sons (Wholesale) Limited (Registered number: 04631777)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 2,274 2,682
Tangible assets 5 416,954 64,095
419,228 66,777

CURRENT ASSETS
Stocks 72,000 52,135
Debtors 6 906,349 1,128,761
Cash at bank and in hand 564,086 623,890
1,542,435 1,804,786
CREDITORS
Amounts falling due within one year 7 878,592 1,282,948
NET CURRENT ASSETS 663,843 521,838
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,083,071

588,615

CREDITORS
Amounts falling due after more than one
year

8

(268,786

)

-

PROVISIONS FOR LIABILITIES (63,229 ) (6,245 )
NET ASSETS 751,056 582,370

CAPITAL AND RESERVES
Called up share capital 8,002 8,002
Share premium 864,402 864,402
Retained earnings (121,348 ) (290,034 )
751,056 582,370

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

A.G. Axton & Sons (Wholesale) Limited (Registered number: 04631777)

Balance Sheet - continued
31 August 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 May 2025 and were signed by:





A G Axton - Director


A.G. Axton & Sons (Wholesale) Limited (Registered number: 04631777)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

A.G. Axton & Sons (Wholesale) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2023 - 32 ) .

A.G. Axton & Sons (Wholesale) Limited (Registered number: 04631777)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 289,075
AMORTISATION
At 1 September 2023 286,393
Charge for year 408
At 31 August 2024 286,801
NET BOOK VALUE
At 31 August 2024 2,274
At 31 August 2023 2,682

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2023 33,259 310,142 343,401
Additions - 487,227 487,227
Disposals - (79,588 ) (79,588 )
At 31 August 2024 33,259 717,781 751,040
DEPRECIATION
At 1 September 2023 9,741 269,565 279,306
Charge for year 476 131,952 132,428
Eliminated on disposal - (77,648 ) (77,648 )
At 31 August 2024 10,217 323,869 334,086
NET BOOK VALUE
At 31 August 2024 23,042 393,912 416,954
At 31 August 2023 23,518 40,577 64,095

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 811,851 1,059,599
Other debtors 94,498 69,162
906,349 1,128,761

A.G. Axton & Sons (Wholesale) Limited (Registered number: 04631777)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 3,845 -
Hire purchase contracts 85,581 -
Trade creditors 353,002 739,355
Amounts owed to associates 241,432 222,929
Taxation and social security 13,453 106,966
Other creditors 181,279 213,698
878,592 1,282,948

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts 268,786 -