Company Registration No. 08453352 (England and Wales)
Axiom Brands Limited
Unaudited accounts
for the year ended 31 December 2024
Axiom Brands Limited
Unaudited accounts
Contents
Axiom Brands Limited
Company Information
for the year ended 31 December 2024
Directors
Ian Bayliss
Katherine Hagan
Company Number
08453352 (England and Wales)
Registered Office
Egerton House
68 Baker Street
Weybridge
Surrey
KT13 8AL
England
Accountants
P10 Accountancy Ltd
Egerton House
68 Baker Street
Weybridge
KT13 8AL
Axiom Brands Limited
Statement of financial position
as at 31 December 2024
Tangible assets
57,604
204,712
Inventories
523,186
695,112
Cash at bank and in hand
459,206
653,817
Creditors: amounts falling due within one year
(1,145,321)
(1,905,920)
Net current assets
634,866
698,588
Total assets less current liabilities
692,470
903,300
Creditors: amounts falling due after more than one year
(66,177)
(205,794)
Net assets
626,293
697,506
Called up share capital
133
133
Share premium
74,967
74,967
Profit and loss account
551,193
622,406
Shareholders' funds
626,293
697,506
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by
Ian Bayliss
Director
Company Registration No. 08453352
Axiom Brands Limited
Notes to the Accounts
for the year ended 31 December 2024
Axiom Brands Limited is a private company, limited by shares, registered in England and Wales, registration number 08453352. The registered office is Egerton House, 68 Baker Street, Weybridge, Surrey, KT13 8AL, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% Straight Line
Fixtures & fittings
25% Straight Line
Computer equipment
25% Straight Line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Axiom Brands Limited
Notes to the Accounts
for the year ended 31 December 2024
The tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible.
The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2024
-
283,560
38,667
16,669
338,896
Additions
31,259
-
-
1,811
33,070
Disposals
-
(149,755)
-
-
(149,755)
At 31 December 2024
31,259
133,805
38,667
18,480
222,211
At 1 January 2024
-
91,119
28,234
14,831
134,184
Charge for the year
260
26,761
4,904
994
32,919
On disposals
-
(2,496)
-
-
(2,496)
At 31 December 2024
260
115,384
33,138
15,825
164,607
At 31 December 2024
30,999
18,421
5,529
2,655
57,604
At 31 December 2023
-
192,441
10,433
1,838
204,712
Axiom Brands Limited
Notes to the Accounts
for the year ended 31 December 2024
Amounts falling due within one year
Trade debtors
619,581
871,634
Amounts due from group undertakings etc.
111,719
-
Accrued income and prepayments
43,947
137,388
Other debtors
22,548
246,557
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
50,000
50,000
Obligations under finance leases and hire purchase contracts
3,903
12,176
Trade creditors
755,516
1,466,948
Taxes and social security
41,339
46,731
Deferred income
5,751
94,500
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Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
20,306
109,891
Allotted, called up and fully paid:
133 Ordinary shares of £1 each
133
133
9
Average number of employees
During the year the average number of employees was 12 (2023: 12).