Axden Limited - Period Ending 2014-08-31

Registration number: 04507575

Axden Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2014
 

Chancery Accounts LLP
  Accountants & Taxation Advisors
  The Old County Police Station
  Newhey Road
  Milnrow
  Rochdale
  Lancashire
  OL16 3PS

Axden Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Axden Limited
(Registration number: 04507575)
Abbreviated Balance Sheet at 31 August 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					4,500			5,400
Tangible fixed assets					260,468			262,025
					264,968			267,425
Current assets
Stocks					867			1,489
Debtors					327			-
Cash at bank and in hand					472			2,751
					1,666			4,240
Creditors: Amounts falling due within one year					(302,244)			(269,286)
Net current liabilities					(300,578)			(265,046)
Total assets less current liabilities					(35,610)			2,379
Creditors: Amounts falling due after more than one year					(74,153)			(86,310)
Net liabilities					(109,763)			(83,931)
Capital and reserves
Called up share capital		4			1			1
Profit and loss account					(109,764)			(83,932)
Shareholders' deficit					(109,763)			(83,931)

For the year ending 31 August 2014 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 11 May 2015 and signed on its behalf by:

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Axden Limited
(Registration number: 04507575)
Abbreviated Balance Sheet at 31 August 2014
......... continued

.........................................
Mr Alastair Duncan Mckay
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Axden Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis, on the understanding that the directors and shareholder will continue to financially supportthe company for the foreseeable future.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

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

Asset class	Amortisation method and rate
Goodwill	Written off over 10 years

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% on reducing balance
Fixtures and fittings	15% on reducing balance
Office equipment	15% on reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Page 3

Axden Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2014
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 September 2013		9,000			279,938			288,938
Additions		-			643			643
At 31 August 2014		9,000			280,581			289,581
Depreciation
At 1 September 2013		3,600			17,913			21,513
Charge for the year		900			2,200			3,100
At 31 August 2014		4,500			20,113			24,613
Net book value
At 31 August 2014		4,500			260,468			264,968
At 31 August 2013		5,400			262,025			267,425

3

Creditors

Included in the creditors are the following amounts due after more than five years:

		2014 £			2013 £
After more than five years by instalments		15,725			27,882

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		1			1			1			1

5

Control

The company is controlled by the director, Mr A D McKay, by virtue of his 100% shareholding..

Page 4