Axicon Auto ID Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 02003365 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 April 2015

for

Axicon Auto ID Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

P Yarnell

M Morrison

M C Hicks

A J Carey

Mrs S Hicks

REGISTERED OFFICE:

Church Road

Weston on the Green

Bicester

Oxfordshire

OX25 3QP

REGISTERED NUMBER:

02003365 (England and Wales)

ACCOUNTANTS:

Behegan Lynes

Accountancy & Taxation Advisers

Bank Chambers

Brook Street

Bishops Waltham

Hampshire

SO32 1AX

FIXED ASSETS

Intangible assets

2

4,000

6,000

Tangible assets

3

108,716

57,786

Investments

4

863

912

113,579

64,698

CURRENT ASSETS

Stocks

354,015

271,916

Debtors

847,867

923,363

Cash at bank and in hand

1,190,507

666,217

2,392,389

1,861,496

CREDITORS

Amounts falling due within one year

399,115

269,595

NET CURRENT ASSETS

1,993,274

1,591,901

TOTAL ASSETS LESS CURRENT LIABILITIES

2,106,853

1,656,599

PROVISIONS FOR LIABILITIES

3,580

-

NET ASSETS

2,103,273

1,656,599

CAPITAL AND RESERVES

Called up share capital

5

100,000

100,000

Profit and loss account

2,003,273

1,556,599

SHAREHOLDERS' FUNDS

2,103,273

1,656,599

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 21 October 2015 and were signed on its behalf by:

M Morrison - Director

M C Hicks - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

2% on cost

Plant & machinery

-

33% on cost and 25% on cost

Fixtures & fittings

-

25% on reducing balance

Motor vehicles

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed by the

balance sheet date. Deferred tax is not recognised when assets are revalued unless, by the balance sheet date, the

company has entered into a binding agreement to sell the assets and recognised the gains and losses expected to

arise on sale or where assets have been sold and it is expected that the taxable gain will be rolled over into a

replacement asset.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a funded defined contribution pension scheme for the directors and employees. The

company also operates a separate funded defined contribution pension scheme for two of the directors. The

assets of the schemes are held separately from those of the company in independently administered funds.

Contributions payable for the year are charged in the profit and loss account.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2014

and 30 April 2015

10,000

AMORTISATION

At 1 May 2014

4,000

Amortisation for year

2,000

At 30 April 2015

6,000

NET BOOK VALUE

At 30 April 2015

4,000

At 30 April 2014

6,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2014

142,829

Additions

97,950

Disposals

(7,269

)

At 30 April 2015

233,510

DEPRECIATION

At 1 May 2014

85,043

Charge for year

46,292

Eliminated on disposal

(6,541

)

At 30 April 2015

124,794

NET BOOK VALUE

At 30 April 2015

108,716

At 30 April 2014

57,786

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 May 2014

60,832

Additions

66

Disposals

(60,035

)

At 30 April 2015

863

PROVISIONS

At 1 May 2014

59,920

Eliminated on disposal

(59,920

)

At 30 April 2015

-

NET BOOK VALUE

At 30 April 2015

863

At 30 April 2014

912

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Axicon Auto ID LLC

Country of incorporation: USA

Nature of business: Barcode products

%

Class of shares:

holding

Ordinary

100.00

30.4.15

30.4.14

£

£

Aggregate capital and reserves

142,028

84,614

Profit for the year

49,159

53,093

Codemaster LLC

Country of incorporation: USA

Nature of business: Barcode products

%

Class of shares:

holding

Ordinary

100.00

30.4.15

30.4.14

£

£

Aggregate capital and reserves

41,956

30,551

Profit for the year

8,424

2,086

RF Tags SA (Pty) Limited

Country of incorporation: South Africa

Nature of business: Production of radio frequency ident. tags

%

Class of shares:

holding

Ordinary

49.00

28.2.15

28.2.14

£

£

Aggregate capital and reserves

88,587

80,419

Profit/(loss) for the year

13,251

(743

)

Axicon France SARL

Country of incorporation: France

Nature of business: Barcode products

%

Class of shares:

holding

Ordinary

50.24

30.4.15

30.4.14

£

£

Aggregate capital and reserves

56,484

56,974

Profit for the year

6,758

6,555

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.15

30.4.14

value:

£

£

100,000

Ordinary

£1

100,000

100,000

6.	ULTIMATE PARENT COMPANY

7.	RELATED PARTY DISCLOSURES