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REGISTERED NUMBER: 10157277 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Akshaya Ventures Limited

Akshaya Ventures Limited (Registered number: 10157277)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Akshaya Ventures Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Ms M L Patel





REGISTERED OFFICE: 117 Woodlands Harrow Woodlands
Harrow
HA2 6EN





REGISTERED NUMBER: 10157277 (England and Wales)





ACCOUNTANTS: Elliot, Woolfe & Rose Ltd
Elizabeth House
54-58 High Street
Edgware
London
HA8 7TT

Akshaya Ventures Limited (Registered number: 10157277)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £ £
FIXED ASSETS
Tangible assets 4 9 314
Investment property 5 180,958 180,958
180,967 181,272

CURRENT ASSETS
Debtors 6 1,997 1,997
Cash at bank 2,349 3,544
4,346 5,541
CREDITORS
Amounts falling due within one year 7 (36,355 ) (40,110 )
NET CURRENT LIABILITIES (32,009 ) (34,569 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

148,958

146,703

CREDITORS
Amounts falling due after more than
one year

8

(127,465

)

(127,465

)
NET ASSETS 21,493 19,238

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 21,489 19,234
21,493 19,238

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Akshaya Ventures Limited (Registered number: 10157277)

Statement of Financial Position - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 14 September 2023 and were signed by:





Ms M L Patel - Director


Akshaya Ventures Limited (Registered number: 10157277)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Akshaya Ventures 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the rental income and consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Akshaya Ventures Limited (Registered number: 10157277)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Office
equipment
£
COST
At 1 April 2022
and 31 March 2023 924
DEPRECIATION
At 1 April 2022 610
Charge for year 305
At 31 March 2023 915
NET BOOK VALUE
At 31 March 2023 9
At 31 March 2022 314

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 April 2022
and 31 March 2023 180,958
NET BOOK VALUE
At 31 March 2023 180,958
At 31 March 2022 180,958

In the opinion of the director the fair value of the investment properties as at 31 March 2023 is not significantly different to that stated above.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£ £
Trade debtors 1,997 1,997

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£ £
Taxation and social security 2,152 1,215
Other creditors 34,203 38,895
36,355 40,110

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£ £
Other creditors 127,465 127,465

Akshaya Ventures Limited (Registered number: 10157277)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£ £
Other loans 127,465 127,465

The other loans are secured over by a legal charge on the investment properties.

10. RELATED PARTY DISCLOSURES

As at the period end date, the director, M. L. Patel had a credit balance of £34,203 (2022:£37,935) on her director's current account. This is an interest free loan to the company and included within other creditors due after more than one year.