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Unaudited Financial Statements |
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For The Year Ended 31 December 2018 |
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Axcess Energy Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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For The Year Ended 31 December 2018 |
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for |
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Axcess Energy Limited |
Axcess Energy Limited (Registered number: 07404973) |
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Contents of the Financial Statements |
For The Year Ended 31 December 2018 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Axcess Energy Limited |
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Company Information |
For The Year Ended 31 December 2018 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Goodridge Court |
Goodridge Avenue |
Gloucester |
Gloucestershire |
GL2 5EN |
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BANKERS: |
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18 King Street |
Stroud |
Gloucestershire |
GL5 3DF |
Axcess Energy Limited (Registered number: 07404973) |
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Statement of Financial Position |
31 December 2018 |
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31.12.18 | 31.12.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
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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. |
Axcess Energy Limited (Registered number: 07404973) |
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Statement of Financial Position - continued |
31 December 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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Axcess Energy Limited (Registered number: 07404973) |
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Notes to the Financial Statements |
For The Year Ended 31 December 2018 |
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1. | STATUTORY INFORMATION |
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Axcess Energy Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is recognised at the fair value of the consideration received or receivable for goods and |
services provided in the normal course of business, and is shown net of VAT and other sales related |
taxes. |
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Revenue from short term contracts for the provision of consultancy services is recognised on an accruals |
basis which generally falls in line with the invoicing of that work. Adjustment is made through accrued income |
and work in progress to reflect work uninvoiced at a period end according to level of completion or deferred |
income where invoicing is ahead of the service provision. |
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Tangible fixed assets |
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of |
depreciation and any impairment losses. |
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Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their |
useful lives on the following bases: |
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Office equipment: 20% straight line |
Motor vehicles: 25% straight line |
Computer equipment: 33% straight line |
Axcess Energy Limited (Registered number: 07404973) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 December 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and |
Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party |
to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, |
when there is a legally enforceable right to set off the recognised amounts and there is an intention to |
settle on a net basis or to realise the asset and settle the liability simultaneously. |
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Basic financial assets |
Basic financial assets, which include trade and other debtors and cash and bank balances, are measured |
at transaction price including transaction costs. at. |
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Impairment of financial assets |
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators |
of impairment at each reporting end date. |
Financial assets are impaired where there is objective evidence that, as a result of one or more |
events that occurred after the initial recognition of the financial asset, the estimated future cash flows |
have been affected. The impairment loss is recognised in profit or loss. |
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Derecognition of financial assets |
Financial assets are derecognised only when the contractual rights to the cash flows from the asset |
expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership |
to another entity. |
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Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual |
arrangements entered into. An equity instrument is any contract that evidences a residual interest in |
the assets of the company after deducting all of its liabilities. |
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Basic financial liabilities |
Basic financial liabilities, including trade and other creditors are recognised at transaction price. |
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Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary |
course of business from suppliers. Trade creditors are classified as current liabilities if payment is due |
within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors |
are recognised initially at transaction price and subsequently measured at amortised cost using the |
effective interest method. |
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Derecognition of financial liabilities |
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, |
cancelled, or they expire. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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Axcess Energy Limited (Registered number: 07404973) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 December 2018 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
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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. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
statement of financial position 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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2017 - 1 ). |
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4. | TANGIBLE FIXED ASSETS |
Office | Motor | Computer |
equipment | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2018 |
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Additions |
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Disposals |
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At 31 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for year |
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Eliminated on disposal |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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Axcess Energy Limited (Registered number: 07404973) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 December 2018 |
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5. | FIXED ASSET INVESTMENTS |
Serck |
Separation |
Technologies |
Ltd |
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COST |
At 1 January 2018 |
and 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Corporation tax |
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Social security and other taxes | ( |
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VAT | 8,921 | 1,003 |
Other creditors |
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Directors' current accounts | 3,251 | 445 |
Accrued expenses |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.18 | 31.12.17 |
value: | £ | £ |
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Ordinary | 1 | 102 | 102 |