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Registered Number: 12460993
England and Wales

 

 

 

AKA PROPERTY GROUP LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2022

End date: 28 February 2023
Director Mr A R Poswall
Registered Number 12460993
Registered Office 1 Andromeda House
Calleva Park
Aldermaston
Berkshire
RG7 8AP
Accountants Dove Marsh & Jones
1 Andromeda House
Calleva Park
Aldermaston
Berkshire
RG7 8AP
1
Report to the directors on the preparation of the unaudited statutory accounts of AKA PROPERTY GROUP LTD for the year ended 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of AKA PROPERTY GROUP LTD for the year ended 28 February 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of AKA PROPERTY GROUP LTD, as a body, in accordance with the terms of our engagement letter dated Our work has been undertaken solely to prepare for your approval the accounts of AKA PROPERTY GROUP LTD and state those matters that we have agreed to state to the Board of Directors of AKA PROPERTY GROUP LTD, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AKA PROPERTY GROUP LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that AKA PROPERTY GROUP LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of AKA PROPERTY GROUP LTD. You consider that AKA PROPERTY GROUP LTD is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of AKA PROPERTY GROUP LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
28 February 2023


Dove Marsh & Jones
1 Andromeda House
Calleva Park
Aldermaston
Berkshire
RG7 8AP
28 November 2023
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 319,239    180,797 
319,239    180,797 
Current assets      
Debtors 4   599 
Cash at bank and in hand 20,421    4,563 
20,421    5,162 
Creditors: amount falling due within one year 5 (88,459)   (43,352)
Net current liabilities (68,038)   (38,190)
 
Total assets less current liabilities 251,201    142,607 
Creditors: amount falling due after more than one year 6 (213,786)   (110,420)
Accruals and deferred income (3,437)   (601)
Provisions for liabilities 7 (4,370)   (5,700)
Net assets 29,608    25,886 
 

Capital and reserves
     
Called up share capital 100    100 
Fair Value Reserves 8 18,630    24,300 
Profit and loss account 10,878    1,486 
Shareholder's funds 29,608    25,886 
 


For the year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 28 November 2023 and were signed by:


-------------------------------
Mr A R Poswall
Director
3
General Information
AKA PROPERTY GROUP LTD is a private company, limited by shares, registered in England and Wales, registration number 12460993, registration address 1 Andromeda House, Calleva Park, Aldermaston, Berkshire, RG7 8AP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover represents the gross rental income from properties, recognised when the right to receive the rent has been earned by the company in terms of their respective rental agreements. The turnover is presented net of Value Added Tax (VAT) and any trade discounts.


Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 March 2022 180,797    180,797 
Additions 145,442    145,442 
Disposals  
Revaluations (7,000)   (7,000)
At 28 February 2023 319,239    319,239 
Depreciation
At 01 March 2022  
Charge for year  
On disposals  
At 28 February 2023  
Net book values
Closing balance as at 28 February 2023 319,239    319,239 
Opening balance as at 01 March 2022 180,797    180,797 

Cost of valuation at 28 February 2023 is represented by:
Particulars   Investments
£
Valuation 2023 (7,000)
Valuation 2022 30,000 
Cost 296,239 
319,239 

Valuations are reviewed annually by the director using his extensive local market knowledge.

4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Prepayments & Accrued Income   599 
  599 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Corporation Tax 2,203    349 
Other Creditors 1,945    900 
Directors' Current Accounts 84,311    42,103 
88,459    43,352 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts (secured) 213,786    110,420 
213,786    110,420 

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 4,370    5,700 
4,370    5,700 

8.

Fair Value Reserves

2023
£
  2022
£
Fair Value Reserve (5,670)   24,300 
Fair Value Reserve b/fwd 24,300   
18,630    24,300 

4