Registered number
05761984
AKR PROPERTIES (HANWELL) LIMITED
Unaudited Filleted Accounts
31 March 2023
AKR PROPERTIES (HANWELL) LIMITED
Registered number: 05761984
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Current assets
Stocks 519,657 519,657
Debtors 3 8,750 -
Cash at bank and in hand 177,207 132,546
705,614 652,203
Creditors: amounts falling due within one year 4 (225,285) (623,976)
Net current assets 480,329 28,227
Total assets less current liabilities 480,329 28,227
Creditors: amounts falling due after more than one year 5 (459,411) -
Provisions for liabilities - -
Net assets 20,918 28,227
Capital and reserves
Called up share capital 100 100
Profit and loss account 20,818 28,127
Shareholders' funds 20,918 28,227
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr T Premkumar
Director
Approved by the board on 21 November 2023
AKR PROPERTIES (HANWELL) LIMITED
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover relates to property sales. Rental income received from tenants is shown separately.
Stocks
Stocks of properties are measured at the lower of cost and estimated selling price.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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 future taxable profits. Deferred tax is measured using the 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Debtors 2023 2022
£ £
Trade debtors - -
Other debtors 8,750 -
8,750 -
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loan (secured - Note 6) 8,400 281,852
Trade creditors - -
Taxation and social security costs - -
Other creditors 216,885 342,124
225,285 623,976
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loan (secured - Note 6) 459,411 -
459,411 -
6 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 425,811 -
425,811 -
Secured bank loans 467,811 281,852
Bank Loan is secured by way of first legal charge over the stock of Properties held by the Company, and Personal Guarantee given by Director limited to £72,000.
7 Capital commitments
There were no capital commitments or contingent liabilities at 31 March 2023. (2022 - Nil)
8 Controlling party
The Director Mr T Premkumar together with his family owns 100% of the issued share capital.
9 Other information
AKR PROPERTIES (HANWELL) LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
27 The Croft
Wembley
Middlesex
HA0 3EO
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