Axxess Identification Limited - Accounts to registrar (filleted) - small 18.2
Axxess Identification Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2019 |
| for |
| Axxess Identification Limited |
| Axxess Identification Limited (Registered number: 02880188) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Axxess Identification Limited |
| Company Information |
| for the Year Ended 31 March 2019 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| Axxess Identification Limited (Registered number: 02880188) |
| Balance Sheet |
| 31 March 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 on |
| Axxess Identification Limited (Registered number: 02880188) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2019 |
| 1. | STATUTORY INFORMATION |
| Axxess Identification Limited is a |
| 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 the provisions of Section 1A "Small Entities" |
| of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of |
| Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost |
| convention. |
| The company's functional and presentation currency is the pound sterling and the accounts have been rounded |
| to the nearest pound. |
| Preparation of consolidated financial statements |
| The financial statements contain information about Axxess Identification Limited as an individual company and |
| do not contain consolidated financial information as the parent of a group. The company is exempt under |
| Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Turnover |
| Turnover represents net invoiced manufacture, design, sale of critical asset protection systems and sale of |
| software support, excluding value added tax, less any discounts given |
| Tangible fixed assets |
| Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost |
| includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its |
| intended use, dismantling and restoration costs and borrowing costs capitalised. |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
| life. |
| Plant and machinery | - 20% - 100% on straight line basis |
| Fixtures and fittings | - 20% - 100% on straight line basis |
| Computer equipment | - 33% - 100% on straight line basis |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
| slow moving items. |
| Financial instruments |
| Trade debtors |
| Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the |
| effective interest method, less impairment losses for bad and doubtful debts except where the effect of |
| discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for |
| bad and doubtful debts. |
| Cash and cash equivalents |
| Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other |
| short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the |
| statement of financial position, bank overdrafts are shown within borrowings or current liabilities. |
| Trade and other creditors |
| Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the |
| effective interest method unless the effect of discounting would be immaterial, in which case they are stated at |
| cost. |
| Axxess Identification Limited (Registered number: 02880188) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
| at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 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. |
| Investments |
| Fixed asset investments are valued at the lower of cost and net realisable value. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Computer |
| machinery | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 April 2018 |
| Additions |
| At 31 March 2019 |
| DEPRECIATION |
| At 1 April 2018 |
| Charge for year |
| At 31 March 2019 |
| NET BOOK VALUE |
| At 31 March 2019 |
| At 31 March 2018 |
| Axxess Identification Limited (Registered number: 02880188) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2019 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 April 2018 |
| and 31 March 2019 |
| NET BOOK VALUE |
| At 31 March 2019 |
| At 31 March 2018 |
| 6. | DEBTORS |
| 2019 | 2018 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Prepayments and accrued income |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Bank loans and overdrafts |
| Other loans | 29,203 | 27,261 |
| Preference shares |
| Trade creditors |
| Social security and other taxes |
| Other creditors |
| Amount owed re invoice discounting | 53,529 | 53,350 |
| Directors' current accounts | 10,629 | 10,629 |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Other loans | 31,283 | 29,203 |
| Other loans - 2-5 years |
| Axxess Identification Limited (Registered number: 02880188) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2019 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2019 | 2018 |
| £ | £ |
| Bank overdrafts |
| Invoice discounting | 53,529 | 53,350 |
| The bank overdraft is secured by a fixed and floating charge over the assets of the company. |
| The amount owed re invoice discounting is secured over the trade debtors of the company. |
| 10. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
| Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
| transactions with wholly owned subsidiaries within the group. |
| 11. | ULTIMATE CONTROLLING PARTY |
| The company was under the control of Mr F Van Eerkeren throughout the current and previous year. Mr F Van Eerkeren is the managing director and sole shareholder. |
| 12. | DEFERRED TAX |
| A deferred tax liability amounting to £5,450 (2018 - £1,464 Asset), has not been provided due to the uncertainty |
| of the utilisation of these losses against future taxable profits. A tax rate of 19% has been used. |