2022-03-012023-02-282023-02-28false10007127AKES INVESTMENTS 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AKES INVESTMENTS LIMITED

Registered Number
10007127
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

AKES INVESTMENTS LIMITED
Company Information
for the year from 1 March 2022 to 28 February 2023

Directors

K Q Mehr
S Shafiq

Registered Address

Simplex House
Freshwater Road
Dagenham
RM8 1RX

Registered Number

10007127 (England and Wales)
AKES INVESTMENTS LIMITED
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Investment property52,178,8682,070,868
2,178,8682,070,868
Current assets
Debtors71,520,1851,915,635
Cash at bank and on hand16,5287,949
1,536,7131,923,584
Creditors amounts falling due within one year8(1,793,319)(2,496,144)
Net current assets (liabilities)(256,606)(572,560)
Total assets less current liabilities1,922,2621,498,308
Creditors amounts falling due after one year9(1,804,406)(1,370,376)
Net assets117,856127,932
Capital and reserves
Called up share capital100100
Profit and loss account117,756127,832
Shareholders' funds117,856127,932
The financial statements were approved and authorised for issue by the Board of Directors on 17 November 2023, and are signed on its behalf by:
S Shafiq
Director
Registered Company No. 10007127
AKES INVESTMENTS LIMITED
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Investment property policy
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. Investment property whose fair value can be measured reliably without undue cost or effort shall be measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Investment properties are derecognised when either they have been disposed of or when the investment property is permanently withdrawn from use and no future economic benefit is expected from its disposal. Any gains or losses on the retirement or disposal of investment property, is recognised in the income statement in the period of derecognition. Transfers are made to or from investment property only when there is a change in use.
Taxation policy
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.
4.Employee information

20232022
Average number of employees during the year00
5.Investment property

£
Fair value at 01 March 222,070,868
Additions108,000
At 28 February 232,178,868
6.Description of nature of transactions and balances with related parties
Other debtors included the following: APC Capital 2 Ltd £240,000 (2022: Nil), APC Capital 3 Ltd £342,200 (2022: £342,200), APC Capital 4 Ltd £473,812 (2022: £533,812), APC Capital 6 Ltd £341,250 (2022: £340,750), APC Capital 7 Ltd £39,800 (2022: £28,800), APC Capital 8 Ltd £63,796 (2022: £76,796), Rye Homes Ltd £5,000 (2022: Nil), Simple East Holdings Ltd £1,250 (2022: Nil), Yelo Insure Ltd £2,300 (2022: Nil), Westway Capital Ltd £10,000 (2022: Nil). Other creditors included the following: APC Capital 5 Ltd £77,270 (2022: £77,270), APC Capital 9 Ltd £118,000 (2022: £122,000), AVX Auto Repairs Ltd £7,500 (2022: Nil), SPHC Ltd Ltd £50,000 (2022: £50,000), APC Capital 1 Ltd £513,546 (2022: £576,546). It also includes the directors' current account balance of £3,953 (2022: £161,625), which relates to both the directors.
7.Debtors

2023

2022

££
Other debtors1,520,1851,915,635
Total1,520,1851,915,635
8.Creditors within one year

2023

2022

££
Bank borrowings and overdrafts5,4495,433
Taxation and social security-29,985
Other creditors1,785,1102,458,566
Accrued liabilities and deferred income2,7602,160
Total1,793,3192,496,144
9.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts1,804,4061,370,376
Total1,804,4061,370,376