Axicon Auto ID Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 02003365 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2017

for

Axicon Auto ID Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

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

4

-

2,000

Tangible assets

5

330,191

205,082

Investments

6

1,052

1,052

331,243

208,134

CURRENT ASSETS

Stocks

465,287

472,129

Debtors

7

707,739

610,071

Cash at bank and in hand

1,412,238

1,110,980

2,585,264

2,193,180

CREDITORS

Amounts falling due within one year

8

409,771

451,691

NET CURRENT ASSETS

2,175,493

1,741,489

TOTAL ASSETS LESS CURRENT LIABILITIES

2,506,736

1,949,623

PROVISIONS FOR LIABILITIES

9

-

1,573

NET ASSETS

2,506,736

1,948,050

CAPITAL AND RESERVES

Called up share capital

10

100,000

100,000

Retained earnings

2,406,736

1,848,050

SHAREHOLDERS' FUNDS

2,506,736

1,948,050

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 15 January 2018 and were signed on its behalf by:

M Morrison - Director

M C Hicks - Director

1.	STATUTORY INFORMATION

Axicon Auto ID Limited is a private company, limited by shares , registered in England and Wales. The

company's 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.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Trade mark are being amortised evenly over their estimated useful life of nil years.

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

Computer equipment

-

25% 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.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 May 2016

and 30 April 2017

10,000

AMORTISATION

At 1 May 2016

8,000

Charge for year

2,000

At 30 April 2017

10,000

NET BOOK VALUE

At 30 April 2017

-

At 30 April 2016

2,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2016

358,427

Additions

220,726

Disposals

(1,870

)

At 30 April 2017

577,283

DEPRECIATION

At 1 May 2016

153,345

Charge for year

95,617

Eliminated on disposal

(1,870

)

At 30 April 2017

247,092

NET BOOK VALUE

At 30 April 2017

330,191

At 30 April 2016

205,082

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 May 2016

and 30 April 2017

1,052

NET BOOK VALUE

At 30 April 2017

1,052

At 30 April 2016

1,052

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Trade debtors

515,057

579,490

Other debtors

192,682

30,581

707,739

610,071

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Trade creditors

154,015

207,995

Taxation and social security

119,738

145,412

Other creditors

136,018

98,284

409,771

451,691

9.	PROVISIONS FOR LIABILITIES

30.4.16

£

Deferred taxation

1,573

Deferred

tax

£

Balance at 1 May 2016

1,573

Adjustment in respect of

accelerated capital allowances

(3,953

)

Balance at 30 April 2017

(2,380

)

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.17

30.4.16

value:

£

£

100,000

Ordinary

£1

100,000

100,000

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2017 and

30 April 2016:

30.4.17

30.4.16

£

£

M C Hicks

Balance outstanding at start of year

1,923

(1,540

)

Amounts advanced

153,778

3,463

Amounts repaid

(1,923

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

153,778

1,923

12.	RELATED PARTY DISCLOSURES

13.	ULTIMATE CONTROLLING PARTY

The company is ultimately owned and controlled by M C Hicks and his immediate family.

14.	FIRST YEAR ADOPTION

This is the first year FRS 102 Section 1A has been adopted. This transition has not materially affected the

company's financial position or financial performance so no reconciliations on adoption have been included in

these financial statements.