Registered Number 04880277
AXIS ASSOCIATES NORTHERN LTD
Abbreviated Accounts
31 December 2014
Notes | 2014 | 2013 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
( |
( |
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Total assets less current liabilities |
( |
( |
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Total net assets (liabilities) |
( |
( |
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Capital and reserves | |||
Called up share capital | 3 |
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Profit and loss account |
( |
( |
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Shareholders' funds |
( |
( |
Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Basis of Preparing the Financial Statements
The company meets its day to day working capital requirements through a loan advanced by Mr J I Shaw, a director of the company.
Mr J I Shaw has given an undertaking not to seek repayment of this loan unless the company has sufficient funds to maintain working capital requirements after repaying the loan.
On this basis the director considers it appropriate to prepare the financial statements on the going concern basis.
Accounting Convention
The financial statements are prepared under the historical cost convention.
Tangible assets depreciation policy
Computer Equipment 20% per annum on written down value
Fixtures and Fittings 10% per annum on written down value
Other accounting policies
Deferred taxation is recognised in respect of all timing differences, between the treatment of certain items for accounts purposes and their treatment for tax purposes, that have originated but not reversed by the balance sheet date.
Deferred taxation is not recognised when assets are revalued unless, by the balance sheet date, the company has entered into a binding agreement to sell the assets and recognised the gains and losses expected to arise on sale or where assets have been sold and it is expected that the taxable gain will be rolled over into a replacement asset.
Cash Flow Statement
The company qualifies as a small company under the Companies Act 2006. The directors have elected to take advantage of the exemptions under FRS 1 not to prepare a cash flow statement.
£ | |
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Cost | |
At 1 January 2014 |
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Additions |
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Disposals |
( |
Revaluations |
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Transfers |
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At 31 December 2014 |
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Depreciation | |
At 1 January 2014 |
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Charge for the year |
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On disposals |
( |
At 31 December 2014 |
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Net book values | |
At 31 December 2014 | 1,439 |
At 31 December 2013 | 2,085 |