A K EDUCATION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
30 SEPTEMBER 2023
Company Registration Number: 04235441
A K EDUCATION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 8
A K EDUCATION LIMITED
COMPANY INFORMATION
FOR THE PERIOD ENDED 30 SEPTEMBER 2023
DIRECTORS
Mr K A Mein
Mrs A M Mein
SECRETARY
Mrs A M Mein
REGISTERED OFFICE
Cranbrook House
287-291 Banbury Road
Oxford
OX2 7JQ
COMPANY REGISTRATION NUMBER
04235441 England and Wales
A K EDUCATION LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2023
Notes 2023 2022
£ £
FIXED ASSETS
Tangible assets 5 408 545
Investments 6 - 240,218
408 240,763
CURRENT ASSETS
Debtors 7 161,755 469
Cash at bank and in hand 237,591 156,740
399,346 157,209
CREDITORS: Amounts falling due within one year 8 12,670 4,536
NET CURRENT ASSETS 386,676 152,673
TOTAL ASSETS LESS CURRENT LIABILITIES 387,084 393,436
Provisions for liabilities and charges 91 11,971
NET ASSETS 386,993 381,465
CAPITAL AND RESERVES
Called up share capital 100 100
Distributable profit and loss account 386,893 381,365
SHAREHOLDERS' FUNDS 386,993 381,465
A K EDUCATION LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2023
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial period ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board of directors
Mr K A Mein Mrs A M Mein
Director Director
Date approved by the board: 5 November 2023
A K EDUCATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023
1 GENERAL INFORMATION
A K Education Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
Cranbrook House
287-291 Banbury Road
Oxford
OX2 7JQ
The company ceased to trade on 30 September 2023
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Going concern
The accounts have been drawn up on a basis other than going concern as the company ceased to trade on 30 September 2023. The going concern basis is not appropriate as the directors intend to put the company into formal liquidation .
Revenue recognition
Turnover is measured at the fair value of consideration received or receivable and represents the sale of residential properties, stated net of trade discounts.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
Tangible fixed assets
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.
Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.
Plant and machinery Reducing balance basis at 25% per annum
Motor vehicles Reducing balance basis at 25% per annum
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.
A K EDUCATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Investments
Investments in group undertakings are shown at fair value and revalued annually with any surplus or deficit dealt with through the profit and loss account.
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Loans receivable are measured initially at fair value, net of transaction costs, and subsequently at amortised cost, less any impairment.
A K EDUCATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Deferred tax relating to land and investment properties that is measured at fair value is measured using the tax rates and allowances that apply to the sale of the asset.
Current and deferred tax assets and liabilities are not discounted.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.
4 EMPLOYEES
The average number of persons employed by the company (including directors) during the period was:
2023 2022
Average number of employees 2 2
A K EDUCATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023
5 TANGIBLE ASSETS
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 September 2022 968 4,080 5,048
At 30 September 2023 968 4,080 5,048
Accumulated depreciation and impairments
At 1 September 2022 832 3,671 4,503
Charge for period 35 102 137
At 30 September 2023 867 3,773 4,640
Net book value
At 1 September 2022 136 409 545
At 30 September 2023 101 307 408
6 FIXED ASSET INVESTMENTS
Quoted Fixed Asset Investments
£
Cost
At 1 September 2022 240,218
Revaluation 4,602
Disposals (244,820)
At 30 September 2023 -
Net book value
At 1 September 2022 240,218
At 30 September 2023 -
A K EDUCATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023
7 DEBTORS
2023 2022
£ £
Other debtors 161,755 469
8 CREDITORS: Amounts falling due within one year
2023 2022
£ £
Taxation and social security 10,671 -
Accruals and deferred income 1,999 2,001
Other creditors - 2,535
12,670 4,536
9 DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
The following director's advances, credits and guarantees took place during the period
Balance at 1 September 2022 Amounts advanced Amounts repaid Amounts written off or waived Balance at 30 September 2023
£ £ £ £ £
Mr K A & Mrs A M Mein - 166,116 4,361 - 161,755
Interest has been charged on this advance at the Beneficial Loan Arrangement Official Rate as prescribed by HM Revenue and Customs. The advance is repayable on demand.
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