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Axonex Limited
Notes to the Financial Statements
For the Year Ended 31 March 2025
Axonex Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is located at Signal Point Bredbury Park Way, Bredbury, Stockport, England, SK6 2SN.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
At the year end, the company had net current liabilities of £627,013 (2024: £527,844). This included amounts due to group undertakings of £627,013 (2024: £527,514).
The company has obtained assurances from its group creditors that they will not require repayment beyond which the company can no longer pay its debts as they fall due. As a result, management have deemed it appropriate to prepare the accounts on a going concern basis.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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