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REGISTERED NUMBER: SC343758 (Scotland)











AKP GROUP LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTOR AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






AKP GROUP LIMITED (REGISTERED NUMBER: SC343758)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Group Strategic Report 2

Report of the Director 3 to 4

Report of the Independent Auditors 5 to 8

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 17 to 28


AKP GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Ian Kerr McEwan



SECRETARY: Louise Alice Catherine McEwan



REGISTERED OFFICE: 31 Carron Place
Kelvin Industrial Estate
East Kilbride
G75 0YL



REGISTERED NUMBER: SC343758 (Scotland)



AUDITORS: Milne Craig
Chartered accountants
Statutory auditor
Abercorn House
79 Renfrew Road
Paisley
Renfrewshire
PA3 4DA



BANKERS: Clydesdale Bank
227 Fenwick Road
Giffnock
Glasgow
G46 6JG



SOLICITORS: Young & Partners LLP
Business Lawyers
126 West Regent Street
Glasgow
G2 2BH

AKP GROUP LIMITED (REGISTERED NUMBER: SC343758)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2023

The director presents his strategic report of the company and the group for the year ended 31 March 2023.

The principal activity of the group in the period under review is the provision of project management services to the construction industry.

REVIEW OF BUSINESS
The consolidated profit and loss account shows a profit after tax of £757,968 (2022 - £444,433)

At 31 March 2023 the net assets of the group were £3,825,863 (2022 - £3,154,894).

PRINCIPAL RISKS AND UNCERTAINTIES
Competitive pressure has increased in the market place and the director strives to ensure that margins and profitability remain consistent year on year.

In addition the director seeks to control overhead costs in order to maintain the profitability of the company.

FUTURE DEVELOPMENTS
The director aims to maintain the management policies adopted during the period ended 31 March 2022 and consider the company is well placed to take advantage of opportunities which may arise in the current year.

FINANCIAL INSTRUMENTS
The company's principal financial instruments comprise bank balances, trade creditors and trade debtors. The main purpose of these instruments is to finance the company's operations.

Trade debtors are managed in respect of credit and cashflow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

ENVIRONMENT
The company recognises the importance of its environmental responsibilities and has policies in place to manage its impact on the environment.

ON BEHALF OF THE BOARD:





Ian Kerr McEwan - Director


14 November 2023

AKP GROUP LIMITED (REGISTERED NUMBER: SC343758)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 MARCH 2023

The director presents his report with the financial statements of the company and the group for the year ended 31 March 2023.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of the provision of project management services to the construction industry.

DIVIDENDS
Interim dividends per share were paid as follows:

'A' ordinary shares of £1 - £821.43

'B' ordinary shares of £1 - £931.82

The director recommends that no further dividends be paid .

The total distributions of dividends for the year ended 31st March 2023 will be £87,000

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTOR
Ian Kerr McEwan held office during the whole of the period from 1 April 2022 to the date of this report.

CHARITABLE DONATIONS
Donations amounting to £723 (2022 - £3,810) were made by the company during the year.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AKP GROUP LIMITED (REGISTERED NUMBER: SC343758)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 MARCH 2023


AUDITORS
The auditors, Milne Craig, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Ian Kerr McEwan - Director


14 November 2023

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
AKP GROUP LIMITED

Opinion
We have audited the financial statements of AKP Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
AKP GROUP LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
AKP GROUP LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion,

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we consider the following:
- the nature of the industry and sector, control environment and business performance including the key drivers for Directors' remuneration, bonus levels and performance targets;
- results of our enquiries of management about their own identification and assessment of the risks of irregularities;
- any matters we identified having obtained and reviewed the Company's documentation of their policies and procedures relating to:
- identifying, evaluating and complying with laws and regulations and whether they were aware of any
instances of non-compliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual,
suspected or alleged fraud;
- the internal controls established to mitigate risks of fraud or non-compliance with laws and
regulations;
- the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we consider the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the completeness and cut-off of revenue recognition. In common with all audits under ISAs(UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory framework that the Group operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosure in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, tax legislation and Health and Safety legislation.

In addition to the above, our procedures to respond to risks identified included the following:
- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provision of relevant laws and regulations described as having a direct effect on the financial statements;
- enquiring of management concerning actual and potential litigation and claims;
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- reading minutes of meeting of those charged with governance;
- in addressing the fraud risk in revenue recognised on a percentage completion basis, we have tested a sample of revenue recorded in the year through agreement to the contract, agreement to valuation certificate, and bank statements, we have also review for any loss making contracts to ensure loss is recognised in full; and
- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
AKP GROUP LIMITED

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Kirsty Mackie BAcc CA (Senior Statutory Auditor)
for and on behalf of Milne Craig
Chartered accountants
Statutory auditor
Abercorn House
79 Renfrew Road
Paisley
Renfrewshire
PA3 4DA

14 November 2023

AKP GROUP LIMITED (REGISTERED NUMBER: SC343758)

CONSOLIDATED
INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2023

2023 2022
Notes £    £   

TURNOVER 3 19,682,782 15,568,888

Cost of sales (16,906,362 ) (13,300,490 )
GROSS PROFIT 2,776,420 2,268,398

Administrative expenses (2,044,690 ) (1,748,733 )
731,730 519,665

Other operating income 91,649 49,454
OPERATING PROFIT 823,379 569,119

Income from other participating interests 100,000 -
Interest receivable and similar income 6,779 414
930,158 569,533

Interest payable and similar expenses 5 (115 ) -
PROFIT BEFORE TAXATION 6 930,043 569,533

Tax on profit 7 (172,075 ) (125,100 )
PROFIT FOR THE FINANCIAL YEAR 757,968 444,433
Profit attributable to:
Owners of the parent 757,968 445,386
Non-controlling interests - (953 )
757,968 444,433

AKP GROUP LIMITED (REGISTERED NUMBER: SC343758)

CONSOLIDATED
OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 757,968 444,433


OTHER COMPREHENSIVE INCOME
Minority interest 59,653 -
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

59,653

-
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

817,621

444,433

Total comprehensive income attributable to:
Owners of the parent 877,273 445,386
Non-controlling interests (59,652 ) (953 )
817,621 444,433

AKP GROUP LIMITED (REGISTERED NUMBER: SC343758)

CONSOLIDATED BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 132,325 142,375
Tangible assets 11 135,320 172,516
Investments 12 - -
267,645 314,891

CURRENT ASSETS
Stocks 13 615,688 510,847
Debtors 14 4,119,487 3,062,920
Cash at bank and in hand 3,138,437 3,114,541
7,873,612 6,688,308
CREDITORS
Amounts falling due within one year 15 4,284,393 3,806,970
NET CURRENT ASSETS 3,589,219 2,881,338
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,856,864

3,196,229

PROVISIONS FOR LIABILITIES 18 31,001 41,335
NET ASSETS 3,825,863 3,154,894

CAPITAL AND RESERVES
Called up share capital 19 100 100
Share premium 20 494,464 494,464
Retained earnings 20 3,331,299 2,600,678
SHAREHOLDERS' FUNDS 3,825,863 3,095,242

NON-CONTROLLING INTERESTS 21 - 59,652
TOTAL EQUITY 3,825,863 3,154,894

The financial statements were approved by the director and authorised for issue on 14 November 2023 and were signed by:





Ian Kerr McEwan - Director


AKP GROUP LIMITED (REGISTERED NUMBER: SC343758)

COMPANY BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 - -
Investments 12 3,204,520 3,204,520
3,204,520 3,204,520

CURRENT ASSETS
Debtors 14 407,597 1,150,065
Cash at bank 479,038 621,943
886,635 1,772,008
CREDITORS
Amounts falling due within one year 15 500 898,873
NET CURRENT ASSETS 886,135 873,135
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,090,655

4,077,655

CAPITAL AND RESERVES
Called up share capital 19 100 100
Share premium 20 494,464 494,464
Retained earnings 20 3,596,091 3,583,091
SHAREHOLDERS' FUNDS 4,090,655 4,077,655

Company's profit for the financial year 100,000 250,000

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 14 November 2023 and were signed by:





Ian Kerr McEwan - Director


AKP GROUP LIMITED (REGISTERED NUMBER: SC343758)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023

Called up
share Retained Share
capital earnings premium
£    £    £   

Balance at 1 April 2021 100 2,242,292 494,464

Changes in equity
Dividends - (87,000 ) -
Total comprehensive income - 445,386 -
Balance at 31 March 2022 100 2,600,678 494,464

Changes in equity
Dividends - (87,000 ) -
Total comprehensive income - 817,621 -
Balance at 31 March 2023 100 3,331,299 494,464
Non-controlling Total
Total interests equity
£    £    £   

Balance at 1 April 2021 2,736,856 60,605 2,797,461

Changes in equity
Dividends (87,000 ) - (87,000 )
Total comprehensive income 445,386 (953 ) 444,433
Balance at 31 March 2022 3,095,242 59,652 3,154,894

Changes in equity
Dividends (87,000 ) - (87,000 )
Total comprehensive income 817,621 (59,652 ) 757,969
Balance at 31 March 2023 3,825,863 - 3,825,863

AKP GROUP LIMITED (REGISTERED NUMBER: SC343758)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   

Balance at 1 April 2021 100 3,420,091 494,464 3,914,655

Changes in equity
Dividends - (87,000 ) - (87,000 )
Total comprehensive income - 250,000 - 250,000
Balance at 31 March 2022 100 3,583,091 494,464 4,077,655

Changes in equity
Dividends - (87,000 ) - (87,000 )
Total comprehensive income - 100,000 - 100,000
Balance at 31 March 2023 100 3,596,091 494,464 4,090,655

AKP GROUP LIMITED (REGISTERED NUMBER: SC343758)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 616,982 829,296
Interest paid (115 ) -
Tax paid (103,742 ) (135,316 )
Net cash from operating activities 513,125 693,980

Cash flows from investing activities
Purchase of intangible fixed assets (60,300 ) -
Purchase of tangible fixed assets (39,073 ) (112,116 )
Sale of tangible fixed assets - 1,167
Interest received 6,779 414
Dividends received 100,000 -
Net cash from investing activities 7,406 (110,535 )

Cash flows from financing activities
Amount introduced by directors - 397
Amount withdrawn by directors (409,635 ) -
Equity dividends paid (87,000 ) (87,000 )
Net cash from financing activities (496,635 ) (86,603 )

Increase in cash and cash equivalents 23,896 496,842
Cash and cash equivalents at beginning of
year

2

3,114,541

2,617,699

Cash and cash equivalents at end of year 2 3,138,437 3,114,541

AKP GROUP LIMITED (REGISTERED NUMBER: SC343758)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2023 2022
£    £   
Profit before taxation 930,043 569,533
Depreciation charges 146,520 103,819
Loss/(profit) on disposal of fixed assets 99 (1,167 )
Finance costs 115 -
Finance income (106,779 ) (414 )
969,998 671,771
(Increase)/decrease in stocks (104,841 ) 5,915
(Increase)/decrease in trade and other debtors (649,013 ) 1,148,434
Increase/(decrease) in trade and other creditors 400,838 (996,824 )
Cash generated from operations 616,982 829,296

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2023
31/3/23 1/4/22
£    £   
Cash and cash equivalents 3,138,437 3,114,541
Year ended 31 March 2022
31/3/22 1/4/21
£    £   
Cash and cash equivalents 3,114,541 2,617,699


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/22 Cash flow At 31/3/23
£    £    £   
Net cash
Cash at bank and in hand 3,114,541 23,896 3,138,437
3,114,541 23,896 3,138,437
Total 3,114,541 23,896 3,138,437

AKP GROUP LIMITED (REGISTERED NUMBER: SC343758)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

AKP Group Limited, is a private company, limited by shares, registered in Scotland. The company's registered number is SC343758 and registered office address is 31 Carron Place, Kelvin Industrial Estate, East Kilbride, Glasgow, G75 0YL.

The nature of the company's operations and its principal activities was that of project management services to the construction industry.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements

Basis of consolidation
The group financial statements consolidate the financial statements of AKP Group Limited and its subsidiary undertakings drawn up to 31st March each year. No profit and loss account is presented for AKP Group Limited in accordance with section 408 of the Companies Act 2006.

Critical accounting judgements & key sources of estimation uncertainty
In preparing these financial statements, the directors have made the following judgements:

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Assets are considered for indications of impairment. If required an impairment review will be carried out and a decision made on possible impairment. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Bad debts are provided for where objective evidence of the need for a provision exists.

Inventories are assessed for evidence of obsolescence and a provision is made against any inventory unlikely to be sold, or where stock is sold post year end at a loss.

AKP GROUP LIMITED (REGISTERED NUMBER: SC343758)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Consideration is given to the point at which the company is entitled to receive the income, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue from the provision of services is recognised in the period in which the services are provided when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due;
- the costs incurred can be measured reliably.

Goodwill on consolidation
Goodwill represents an investments bought by a subsidiary during 2020 and 2023 and will be written off evenly over 5 years and 3 years respectively.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% - 25% on cost
Fixtures and fittings - 15% - 33.3% straight line
Motor vehicles - 25% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Net realisable value is based on estimated selling price less costs to completion and selling costs.

Long term contract work in progress is shown at net cost after deducting foreseeable losses and payments on account.

Turnover on long term contracts is determined on the basis of the stage of completion of each contract.

Operating profit includes attributable profit on long term contracts completed and amounts recoverable on contracts uncompleted, the latter also being included under debtors due within one year.

AKP GROUP LIMITED (REGISTERED NUMBER: SC343758)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 ' Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand , deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.


AKP GROUP LIMITED (REGISTERED NUMBER: SC343758)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the 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.

With the exception of changes arising on the initial recognition of a business combination, the tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Deferred tax assets and deferred tax liabilities are offset only if the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Rental income
Rental income is included in the period in which it is receivable.

AKP GROUP LIMITED (REGISTERED NUMBER: SC343758)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

Non-financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Financial assets
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal.
An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

2023 2022
£    £   
Project management services 19,682,782 15,568,888
19,682,782 15,568,888

4. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 2,938,667 2,231,484
Social security costs 230,754 186,865
Other pension costs 49,300 82,177
3,218,721 2,500,526

AKP GROUP LIMITED (REGISTERED NUMBER: SC343758)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2023 2022

Office and administration 26 25
Labourers 18 17
44 42

2023 2022
£    £   
Director's remuneration 312,489 173,130

Information regarding the highest paid director for the year ended 31 March 2023 is as follows:
2023
£   
Emoluments etc 50,000

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank interest 115 -

6. PROFIT BEFORE TAXATION

The profit is stated after charging/(crediting):

2023 2022
£    £   
Depreciation - owned assets 76,170 53,569
Loss/(profit) on disposal of fixed assets 99 (1,167 )
Goodwill amortisation 70,350 50,250
Auditors' remuneration 12,000 12,000

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 182,409 103,742
Under provision in prior year - (170 )
Total current tax 182,409 103,572

Deferred tax (10,334 ) 21,528
Tax on profit 172,075 125,100

UK corporation tax has been charged at 19 % (2022 - 19 %).

AKP GROUP LIMITED (REGISTERED NUMBER: SC343758)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 930,043 569,533
Profit multiplied by the standard rate of corporation tax in the UK of 19 %
(2022 - 19 %)

176,708

108,211

Effects of:
Expenses not deductible for tax purposes (2,153 ) (2,579 )
Income not taxable for tax purposes - 9,548
Capital allowances in excess of depreciation (2,480 ) -
Depreciation in excess of capital allowances - 10,035
Adjustments to tax charge in respect of previous periods - (170 )
Other timing differences - 55
deferred tax
Total tax charge 172,075 125,100

Tax effects relating to effects of other comprehensive income

2023
Gross Tax Net
£    £    £   
Minority interest 59,653 - 59,653

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. DIVIDENDS

31 March 31 March
2023 2022
£ £
Interim - 'A' ordinary shares of £1 46,000 46,000
Interim - 'B' ordinary shares of £1 41,000 41,000
87,000 87,000


AKP GROUP LIMITED (REGISTERED NUMBER: SC343758)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

10. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 April 2022 251,250
Additions 60,300
At 31 March 2023 311,550
AMORTISATION
At 1 April 2022 108,875
Amortisation for year 70,350
At 31 March 2023 179,225
NET BOOK VALUE
At 31 March 2023 132,325
At 31 March 2022 142,375

11. TANGIBLE FIXED ASSETS

Group
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2022 58,496 380,317 169,886 608,699
Additions 8,326 8,247 22,500 39,073
Disposals (354 ) (129,802 ) - (130,156 )
At 31 March 2023 66,468 258,762 192,386 517,616
DEPRECIATION
At 1 April 2022 54,244 315,335 66,604 436,183
Charge for year 1,686 39,590 34,894 76,170
Eliminated on disposal (353 ) (129,704 ) - (130,057 )
At 31 March 2023 55,577 225,221 101,498 382,296
NET BOOK VALUE
At 31 March 2023 10,891 33,541 90,888 135,320
At 31 March 2022 4,252 64,982 103,282 172,516

AKP GROUP LIMITED (REGISTERED NUMBER: SC343758)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

12. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 3,204,520
NET BOOK VALUE
At 31 March 2023 3,204,520
At 31 March 2022 3,204,520

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

AKP Holdings Limited
Registered office:
Nature of business: Holding company
%
Class of shares: holding
Ordinary shares of £1 100.00
2023 2022
£    £   
Aggregate capital and reserves 949,134 642,462
Profit for the year 306,672 -

A K P Scotland Ltd
Registered office:
Nature of business: Project management services
%
Class of shares: holding
A Ordinary 100.00
B Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 2,807,919 2,386,273
Profit for the year 728,318 494,683


13. STOCKS

Group
2023 2022
£    £   
Stocks 6,113 9,503
Long term contracts - Work in
progress 609,575 501,344
615,688 510,847

AKP GROUP LIMITED (REGISTERED NUMBER: SC343758)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Trade debtors 1,157,204 1,183,846 - -
Amounts owed by group undertakings - - - 1,150,000
Amounts recoverable on long
term contracts 2,506,815 1,839,886 - -
Other debtors 44 21 44 65
Director's current accounts 407,553 - 407,553 -
Prepayments 47,871 39,167 - -
4,119,487 3,062,920 407,597 1,150,065

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Trade creditors 3,293,834 3,212,874 - -
Amounts owed to group undertakings - - 500 898,873
Corporation tax 182,409 103,742 - -
Social security and other taxes 54,903 54,310 - -
VAT 631,414 359,422 - -
Director's current accounts - 2,082 - -
Accrued expenses 121,833 74,540 - -
4,284,393 3,806,970 500 898,873

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable operating leases
2023 2022
£    £   
Within one year 11,500 11,500

17. FINANCIAL INSTRUMENTS

The carrying amount for each category of financial instrument is as follows:
2023 2022
£ £
Financial assets
Financial assets that are debt instruments measured at amortised cost 3,664,019 3,023,732
Cash and cash equivalents 3,138,437 3,114,541
7,162,460 6,138,273
Financial liabilities
Financial liabilities measured at amortised cost 3,293,834 3,214,956


AKP GROUP LIMITED (REGISTERED NUMBER: SC343758)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

18. PROVISIONS FOR LIABILITIES

Group
2023 2022
£    £   
Deferred tax 31,001 41,335

Group
Deferred
tax
£   
Balance at 1 April 2022 41,335
Originating and reversal of (10,334 )
timing differences
Balance at 31 March 2023 31,001

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
56 'A' Ordinary Shares £1 56 56
44 'B' Ordinary shares £1 44 44
100 100

20. RESERVES

Group
Retained Share
earnings premium Totals
£    £    £   

At 1 April 2022 2,600,678 494,464 3,095,142
Profit for the year 757,968 757,968
Dividends (87,000 ) (87,000 )
Minority interest 59,653 - 59,653
At 31 March 2023 3,331,299 494,464 3,825,763

Company
Retained Share
earnings premium Totals
£    £    £   

At 1 April 2022 3,583,091 494,464 4,077,555
Profit for the year 100,000 100,000
Dividends (87,000 ) (87,000 )
At 31 March 2023 3,596,091 494,464 4,090,555

AKP GROUP LIMITED (REGISTERED NUMBER: SC343758)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

20. RESERVES - continued

Retained earnings
Includes all current and prior year retained profits and losses less dividends.

Share premium
Includes amounts paid in excess of the nominal value of shares.

21. NON-CONTROLLING INTERESTS

All of the amounts are attributable to equity minority interests.

22. PENSION COMMITMENTS

The company operates a defined contribution scheme.The assets of the scheme are held separately from those of the company in various independently administered funds.The pension cost charge represents contributions payable by the company to the fund and amounted to £49,300 (2022 - £82,177 ) including contributions in respect of employees.There were outstanding contributions payable to the fund amounting to £5,519 at 31 March 2023 (2022 - £7,396).

23. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the directors provided an interest free, unsecured loan to the company. At 31 March 2023, the amount due by the director to the company amounted to £407,553 (2022 - £2,082Cr)

This loan was fully repaid in August ,2023..

24. RELATED PARTY DISCLOSURES

During the period AKP Scotland Limited paid rent amounting to £46,000 (2022 - £46,000) to AKP Contracts Limited SSAS of which the director, Ian McEwan is a beneficiary.

All directors and certain senior employees who have authority and responsibility for planning, directing and controlling the activities of the company are considered to be key management personnel. Total remuneration in respect of these individuals is £312,489 (2022 - £173,130).

25. POST BALANCE SHEET EVENTS

On 22nd June 2023, AKP Scotland Limited , a subsidiary company of AKP Group Limited , purchased the premises they operate from for £500,000 from AKP Contracts Limited SSAS.

26. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Ian McEwan by virtue of his majority shareholding in the group.