Company Registration No. 10796182 (England and Wales)
Akibi Group Limited
Unaudited accounts
for the year ended 30 April 2023
Akibi Group Limited
Unaudited accounts
Contents
Akibi Group Limited
Company Information
for the year ended 30 April 2023
Directors
Mr Gurdial Flora
Mrs Gurprit Flora
Secretary
Mr Gurdial Flora
Company Number
10796182 (England and Wales)
Registered Office
28 Glenfield Frith Drive
Glenfield
Leicester
LE3 8PQ
Akibi Group Limited
Statement of financial position
as at 30 April 2023
Investment property
1,200,000
1,170,000
Cash at bank and in hand
21,477
6,453
Creditors: amounts falling due within one year
(8,439)
(8,079)
Net current assets
15,270
587
Total assets less current liabilities
1,215,270
1,170,744
Creditors: amounts falling due after more than one year
(327,732)
(325,017)
Net assets
887,538
845,727
Called up share capital
100
100
Revaluation reserve
273,527
243,527
Profit and loss account
613,911
602,100
Shareholders' funds
887,538
845,727
For the year ending 30 April 2023 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2023 and were signed on its behalf by
Mr Gurdial Flora
Director
Company Registration No. 10796182
Akibi Group Limited
Notes to the Accounts
for the year ended 30 April 2023
Akibi Group Limited is a private company, limited by shares, registered in England and Wales, registration number 10796182. The registered office is 28 Glenfield Frith Drive, Glenfield, Leicester, LE3 8PQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention and in accordance with FRS102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Straightline Method
Investment property is included at market fair value and the valuation was made by the directors based on an open market value for existing use basis.
Akibi Group Limited
Notes to the Accounts
for the year ended 30 April 2023
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 May 2022
1,170,000
Net gain from fair value adjustments
30,000
At 30 April 2023
1,200,000
Investment properties are included in the Balance Sheet at their open market value in accordance with FRS102 and are not depreciated. This treatment is contrary to the Companies Act 2006 which states fixed assets should be depreciated but is, in the opinion of the director, necessary in order to give a true and fair view of the financial position of the company.
Amounts falling due within one year
Accrued income and prepayments
1,413
1,394
7
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
2,807
431
Loans from directors
2,140
1,620
Akibi Group Limited
Notes to the Accounts
for the year ended 30 April 2023
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
247,017
247,017
Other creditors
80,715
78,000
Allotted, called up and fully paid:
1,000 Ordinary shares of £0.10 each
100
100
10
Transactions with related parties
At the yearend the company owed £2,140 (2022 £1,620) to Mr G Flora, the director of the company.
11
Average number of employees
During the year the average number of employees was 1 (2022: 1).