Axden Limited - Period Ending 2015-08-31

Registration number: 04507575

Axden Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2015
 

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 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					-			4,500
Tangible fixed assets					-			260,468
					-			264,968
Current assets
Stocks					-			867
Debtors					-			327
Cash at bank and in hand					-			472
					-			1,666
Creditors: Amounts falling due within one year					(167,699)			(302,244)
Net current liabilities					(167,699)			(300,578)
Total assets less current liabilities					(167,699)			(35,610)
Creditors: Amounts falling due after more than one year					-			(74,153)
Net liabilities					(167,699)			(109,763)
Capital and reserves
Called up share capital		4			1			1
Profit and loss account					(167,700)			(109,764)
Shareholders' deficit					(167,699)			(109,763)

For the year ending 31 August 2015 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 22 January 2016 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 2015
......... 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 2015
......... 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 support the company for the foreseeable future.

Turnover

Turnover represents amounts chargeable 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.

Negative goodwill is included within fixed assets and released to the profit and loss account in the periods in which the fair values of the non-monetary assets purchased on the same acquisition are recovered, whether through sale or depreciation.

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

Included in other creditors is the directors current account balance of £167,699 (2014 : 286,260). This balance is interest free and repayable on demand.

Page 3

Axden Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 September 2014		9,000			280,581			289,581
Disposals		(9,000)			(280,581)			(289,581)
At 31 August 2015		-			-			-
Depreciation
At 1 September 2014		4,500			20,113			24,613
Eliminated on disposals		(4,500)			(20,113)			(24,613)
At 31 August 2015		-			-			-
Net book value
At 31 August 2015		-			-			-
At 31 August 2014		4,500			260,468			264,968

3

Creditors

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

		2015 £			2014 £
After more than five years by instalments		-			15,725

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		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