Registered Number 07696930

AX BUSINESS SYSTEMS LTD

Abbreviated Accounts

31 July 2014

AX BUSINESS SYSTEMS LTD Registered Number 07696930

Abbreviated Balance Sheet as at 31 July 2014

Notes 2014 2013
£ £
Called up share capital not paid - -
Fixed assets
Tangible assets 2 1,240 1,040
1,240 1,040
Current assets
Debtors 166,599 45,172
166,599 45,172
Creditors: amounts falling due within one year (73,393) (46,210)
Net current assets (liabilities) 93,206 (1,038)
Total assets less current liabilities 94,446 2
Creditors: amounts falling due after more than one year (94,444) 0
Total net assets (liabilities) 2 2
Capital and reserves
Called up share capital 2 2
Shareholders' funds 2 2
  • For the year ending 31 July 2014 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 directors acknowledge their 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 Board on 31 March 2015

And signed on their behalf by:
Russell Lawrence, Director

AX BUSINESS SYSTEMS LTD Registered Number 07696930

Notes to the Abbreviated Accounts for the period ended 31 July 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

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

Tangible assets depreciation policy
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:
Office equipment - 25% Reducing balance

Valuation information and policy
Foreign currency:
Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are re-translated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Other accounting policies
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.

2Tangible fixed assets
£
Cost
At 1 August 2013 1,387
Additions 613
Disposals -
Revaluations -
Transfers -
At 31 July 2014 2,000
Depreciation
At 1 August 2013 347
Charge for the year 413
On disposals -
At 31 July 2014 760
Net book values
At 31 July 2014 1,240
At 31 July 2013 1,040