Axxess Identification Limited - Accounts to registrar - small 17.2
Axxess Identification Limited - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2017 |
| for |
| Axxess Identification Limited |
| Axxess Identification Limited (Registered number: 02880188) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Axxess Identification Limited |
| Company Information |
| for the Year Ended 31 March 2017 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| Axxess Identification Limited (Registered number: 02880188) |
| Balance Sheet |
| 31 March 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| Axxess Identification Limited (Registered number: 02880188) |
| Balance Sheet - continued |
| 31 March 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| Axxess Identification Limited (Registered number: 02880188) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2017 |
| 1. | STATUTORY INFORMATION |
| Axxess Identification Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial |
| Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies |
| Act 2006. The financial statements have been prepared under the historical cost convention. |
| These financial statements are the entity's first under FRS 102 Section 1A. No transitional adjustments arose as a result of the |
| transition. |
| The company's functional and presentation currency is the pound sterling and the accounts have been rounded to the nearest £. |
| Preparation of consolidated financial statements |
| The financial statements contain information about Axxess Identification Limited as an individual company and do not contain |
| consolidated financial information as the parent of a group. The company has taken the option under Section 398 of the |
| Companies Act 2006 not to prepare consolidated financial statements. |
| Turnover |
| Turnover represents net invoiced manufacture, design, sale of critical asset protection systems and sale of software support, |
| excluding value added tax, less any discounts given |
| Tangible fixed assets |
| Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original |
| purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and |
| restoration costs and borrowing costs capitalised. |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Plant and machinery | - 20% - 100% on straight line basis |
| Fixtures and fittings | - 20% - 100% on straight line basis |
| Computer equipment | - 33% - 100% on straight line basis |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving |
| items. |
| Debtors and creditors |
| Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. |
| Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that |
| it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively |
| enacted by the balance sheet date. |
| Axxess Identification Limited (Registered number: 02880188) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in |
| which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or |
| substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be |
| recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are |
| charged to profit or loss in the period to which they relate. |
| Investments |
| Fixed asset investments are valued at the lower of cost and net realisable value. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Computer |
| machinery | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 April 2016 |
| Additions |
| At 31 March 2017 |
| DEPRECIATION |
| At 1 April 2016 |
| Charge for year |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| Axxess Identification Limited (Registered number: 02880188) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 April 2016 |
| Additions |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Preference shares |
| Trade creditors |
| Social security and other taxes |
| Other creditors |
| Amount owed re invoice discounting | 32,298 | 62,142 |
| Directors' current accounts | 8,847 | 1,520 |
| Accrued expenses |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Bank overdraft |
| Invoice discounting | 32,298 | 62,142 |
| The bank loans and overdraft are secured by a fixed and floating charge over the assets of the company. |
| The amount owed re invoice discounting is secured over the trade debtors of the company. |
| Axxess Identification Limited (Registered number: 02880188) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 9. | ULTIMATE CONTROLLING PARTY |
| The company was under the control of Mr F Van Eerkeren throughout the current and previous year. Mr F Van Eerkeren is the managing director and sole shareholder. |
| 10. | DEFERRED TAX |
| A deferred tax asset amounting to £5,911 (2016 - £5,868), has not been provided due to the uncertainty of the utilisation of |
| these losses against future taxable profits. A tax rate of 20% (2016 - 20%) has been used. |