Axsied Limited - Period Ending 2016-08-31

Registration number: 06156225

Axsied Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2016
 

Knights
Chartered Accountants
11 Milbanke Court
Milbanke Way
Bracknell
Berkshire
RG12 1RP

Axsied Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Axsied Limited
for the Year Ended 31 August 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Axsied Limited for the year ended 31 August 2016 set out on pages 2 to 4 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Axsied Limited, as a body, in accordance with the terms of our engagement letter . Our work has been undertaken solely to prepare for your approval the accounts of Axsied Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Axsied Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Axsied Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Axsied Limited. You consider that Axsied Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Axsied Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Knights
Chartered Accountants
11 Milbanke Court
Milbanke Way
Bracknell
Berkshire
RG12 1RP

2 December 2016

Page 1

Axsied Limited
(Registration number: 06156225)
Abbreviated Balance Sheet at 31 August 2016

		Note			31 August 2016 £			31 August 2015 £
Fixed assets
Tangible fixed assets					2,535			2,122
Current assets
Debtors					2,185			476
Cash at bank and in hand					44,431			24,027
					46,616			24,503
Creditors: Amounts falling due within one year					(19,005)			(4,188)
Net current assets					27,611			20,315
Net assets					30,146			22,437
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					30,046			22,337
Shareholders' funds					30,146			22,437

For the year ending 31 August 2016 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 director acknowledges his 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 director on 2 December 2016

......................................... Mr J P Franklin Director

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

Axsied Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... 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 January 2015).

Turnover

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

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
Computer Equipment	25% Reducing Balance

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Axsied Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 September 2015		3,277			3,277
Additions		1,257			1,257
At 31 August 2016		4,534			4,534
Depreciation
At 1 September 2015		1,155			1,155
Charge for the year		844			844
At 31 August 2016		1,999			1,999
Net book value
At 31 August 2016		2,535			2,535
At 31 August 2015		2,122			2,122

3	Share capital

Allotted, called up and fully paid shares

	31 August 2016						31 August 2015
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 4