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Registration number: 07098333

Axp Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2025

 

Axp Services Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Axp Services Limited

Company Information

Director

Mr A Pearson

Registered office

131A Looseleigh Lane
Derriford
Plymouth
PL6 5HW

Accountants

M.J. Smith & Co Limited
Chartered Accountant 11 Yeo Business Park Axehayes Farm
Clyst St. Mary
Exeter
Devon
EX5 1DP

 

Axp Services Limited

(Registration number: 07098333)
Balance Sheet as at 30 April 2025

Note

2025
£

2024
£

fixed assets

 

Intangible assets

6

47,622

81,902

tangible assets

7

48,869

19,355

 

96,491

101,257

Current assets

 

Debtors

8

4,387,648

3,913,282

Cash at bank and in hand

 

10,713

154,316

 

4,398,361

4,067,598

Creditors: Amounts falling due within one year

9

(42,236)

(60,729)

Net current assets

 

4,356,125

4,006,869

Net assets

 

4,452,616

4,108,126

capital and reserves

 

Called up share capital

100

100

Profit and loss account

4,452,516

4,108,026

Total equity

 

4,452,616

4,108,126

For the financial year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 June 2025
 

.........................................
Mr A Pearson
Director

 

Axp Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

1

General information

The company is a private company limited by share capital, incorporated in England & Wales .

The address of its registered office is:
131A Looseleigh Lane
Derriford
Plymouth
PL6 5HW
England

These financial statements were authorised for issue by the director on 26 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
 

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Axp Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fitting fixtures and equipment

25% reducing balance

Motor vehicles

25% reducing balance

Computer equipment

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Axp Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2024 - 4).

4

Profit before tax

Arrived at after charging/(crediting)

2025
£

2024
£

Depreciation expense

5,144

7,195

Amortisation expense

38,394

43,469

 

Axp Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

5

Taxation on profits on ordinary activities

Note

2025
£

30 April 2024
 £

Tax reconciliation

 

UK corporation tax

 

169,063

176,264

UK corporation tax adjustment to prior periods

 

(1,195)

-

 

167,868

176,264

 

Axp Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

6

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2024

348,786

348,786

Additions acquired separately

4,114

4,114

At 30 April 2025

352,900

352,900

Amortisation

At 1 May 2024

266,884

266,884

Amortisation charge

38,394

38,394

At 30 April 2025

305,278

305,278

Carrying amount

At 30 April 2025

47,622

47,622

At 30 April 2024

81,902

81,902

7

Tangible assets

Furniture, fittings and equipment
 £

Other property, plant and equipment
£

Total
£

Cost or valuation

At 1 May 2024

50,577

47,434

98,011

Additions

33,450

1,208

34,658

At 30 April 2025

84,027

48,642

132,669

Depreciation

At 1 May 2024

40,725

37,931

78,656

Charge for the year

2,460

2,684

5,144

At 30 April 2025

43,185

40,615

83,800

Carrying amount

At 30 April 2025

40,842

8,027

48,869

At 30 April 2024

9,852

9,503

19,355

 

Axp Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

8

Debtors

Current

2025
£

2024
£

Trade debtors

103,204

132,812

Other debtors

4,284,444

3,780,470

 

4,387,648

3,913,282

9

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Taxation and social security

1,528

1,547

Accruals and deferred income

2,504

2,691

Other creditors

38,204

56,491

42,236

60,729

10

Dividends

Interim dividends paid

2025
£

2024
£

Interim dividend of £1,000.00 (2024 - £13,172.778) per each Ordinary shares

95,000

1,251,414

 

 

11

Related party transactions

Transactions with the director

2025

At 1 May 2024
£

At 30 April 2025
£

Mr A Pearson

Directors advances, credits and guarantees

4,913

4,913

 

Axp Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 30 April 2024
£

Mr A Pearson

Directors advances, credits and guarantees

1,048,146

4,913

(1,048,146)

4,913

Director's remuneration

The director's remuneration for the year was as follows:

2025
£

2024
£

Remuneration

12,570

13,618