Axminster Services Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03873815

Axminster Services Limited

Filleted Financial Statements

31 March 2025

Axminster Services Limited

Directors' Responsibilities Statement

Year ended 31 March 2025

The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Axminster Services Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Intangible assets	5	32,250	43,000
Tangible assets	6	153,632	84,663
		---------	---------
		185,882	127,663

Current assets

Stocks		20,000	10,097
Debtors	7	2,025,850	2,801,417
Cash at bank and in hand		145,981	–
		------------	------------
		2,191,831	2,811,514

Creditors: amounts falling due within one year	8	1,713,100	1,471,252
		------------	------------
Net current assets		478,731	1,340,262
		---------	------------
Total assets less current liabilities		664,613	1,467,925

Creditors: amounts falling due after more than one year	9	111,467	115,550

Provisions	29,758	10,211
	---------	------------
Net assets	523,388	1,342,164
	---------	------------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	522,388	1,341,164
	---------	------------
Shareholders funds	523,388	1,342,164
	---------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 2 December 2025 , and are signed on behalf of the board by:

David Eugene Murray

Director

Company registration number: 03873815

Axminster Services Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Wg01 Vox Studios, 1-45 Durham Street, Vauxhall, London, SE11 5JH, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. (i) Key accounting judgements No critical accounting judgement was made by management in the process of applying the company's accounting policies that have a significant effect on the amounts recognised in the financial statements. (ii) Key sources of estimation uncertainty No critical sources of estimation uncertainty were made by management in the process of applying the company's accounting policies that have a significant effect on the amounts recognised in the financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable services rendered, stated net of discounts and of Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	5% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% reducing balance
Motor vehicles	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship (see hedge accounting policy). Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 221 (2024: 188 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2024 and 31 March 2025	215,000
	---------
Amortisation
At 1 April 2024	172,000
Charge for the year	10,750
	---------
At 31 March 2025	182,750
	---------
Carrying amount
At 31 March 2025	32,250
	---------
At 31 March 2024	43,000
	---------

6. Tangible assets

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost
At 1 April 2024	131,873	102,212	234,085
Additions	8,243	96,812	105,055
	---------	---------	---------
At 31 March 2025	140,116	199,024	339,140
	---------	---------	---------
Depreciation
At 1 April 2024	106,378	43,044	149,422
Charge for the year	8,434	27,652	36,086
	---------	---------	---------
At 31 March 2025	114,812	70,696	185,508
	---------	---------	---------
Carrying amount
At 31 March 2025	25,304	128,328	153,632
	---------	---------	---------
At 31 March 2024	25,495	59,168	84,663
	---------	---------	---------

7. Debtors

	2025	2024
	£	£
Trade debtors	1,608,322	1,656,565
Amounts owed by group undertakings and undertakings in which the company has a participating interest	147,644	898,957
Other debtors	269,884	245,895
	------------	------------
	2,025,850	2,801,417
	------------	------------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	50,000	217,381
Trade creditors	628,142	481,660
Corporation tax	338,068	171,522
Social security and other taxes	450,571	417,493
Other creditors	246,319	183,196
	------------	------------
	1,713,100	1,471,252
	------------	------------

Bank borrowings are secured by a combination of a debenture, fixed and floating charges over the company's assets.

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	29,166	79,167
Other creditors	82,301	36,383
	---------	---------
	111,467	115,550
	---------	---------

Bank borrowings are secured by a combination of a debenture, fixed and floating charges over the company's assets.

10. Contingencies

The company has provided a composite guarantee with other members of the group as part of the security given on property held within the group.

11. Summary audit opinion

The auditor's report dated 2 December 2025 was unqualified .

The senior statutory auditor was P Mattei , for and on behalf of Leaman Mattei .

12. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Eddy Wajih Reaidy	35,231	59,444	( 42,539)	52,136
	--------	--------	--------	--------

	2024
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Eddy Wajih Reaidy	20,076	35,155	( 20,000)	35,231
	--------	--------	--------	--------

Interest of 2.5% has been charged on overdrawn Director's loan amount. Subsequent to year end, the Director's loan amount was paid off fully on 31 July 2025.

13. Related party transactions

The company has taken advantage of the exemption granted by paragraph 33.1(a) of FRS102, Related Party Disclosures, not to disclose transactions with group companies which are wholly owned subsidiaries of the group. At the year end, the parent company Crestavale Limited, owed the company £147,644. The loan is on interest free terms and repayable on demand. Included in Other debtors is a directors current account of £9,999 for amounts advanced to the director for expenses incurred.

14. Controlling party

At the balance sheet date, the ultimate controlling parent was Crestavale Limited. In September 2025, the company was acquired by Associated Continuity Teams Holdings Limited, a company incorporated in England and Wales, which is the new ultimate controlling parent.