Axim Developments Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03516188 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 August 2015

for

Axim Developments Limited

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2

CURRENT ASSETS

Stocks

150,000

150,000

Debtors

683

2,377

Cash at bank

5,221

3,068

155,904

155,445

CREDITORS

Amounts falling due within one year

3

(227,278

)

(226,819

)

NET CURRENT LIABILITIES

(71,374

)

(71,374

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(71,374

)

(71,374

)

CAPITAL AND RESERVES

Called up share capital

4

340

340

Profit and loss account

(71,714

)

(71,714

)

SHAREHOLDERS' FUNDS

(71,374

)

(71,374

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 August 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 authorised for issue and approved by the Board of Directors on 25 May 2016 and were signed on its behalf by:

J Vale - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis as J Vale and B M Vale, directors and

shareholders, have agreed to provide financial support to the company.

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 the value of goods and services supplied to customers during the year.

Tangible fixed assets

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

Fixtures and fittings

-

15% 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 at the

balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 31 August 2014

and 30 August 2015

699

DEPRECIATION

At 31 August 2014

and 30 August 2015

699

NET BOOK VALUE

At 30 August 2015

-

At 30 August 2014

-

3.

CREDITORS

Creditors include an amount of £ 222,498 (30.8.14 - £ 223,875 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.8.15

30.8.14

value:

£

£

340

Ordinary

£1

340

340