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COMPANY REGISTRATION NUMBER: 10269084
HKAK Limited
Filleted Unaudited Financial Statements
31 July 2023
HKAK Limited
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
Current assets
Debtors
5
2,993
8,830
Cash at bank and in hand
29,070
17,743
--------
--------
32,063
26,573
Creditors: amounts falling due within one year
6
13,973
11,564
--------
--------
Net current assets
18,090
15,009
--------
--------
Total assets less current liabilities
18,090
15,009
--------
--------
Net assets
18,090
15,009
--------
--------
Capital and reserves
Profit and loss account
18,090
15,009
--------
--------
Shareholders funds
18,090
15,009
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 19 November 2023 , and are signed on behalf of the board by:
Dr H Kak
Director
Company registration number: 10269084
HKAK Limited
Notes to the Financial Statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 22 Arun Close, Bedford, MK41 7AD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Deferred taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Debtors
2023
2022
£
£
Trade debtors
2,993
8,580
Other debtors
250
-------
-------
2,993
8,830
-------
-------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
1,030
Other creditors
12,943
11,564
--------
--------
13,973
11,564
--------
--------