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REGISTERED NUMBER: 10001488 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2023

for

A&K Developments (Midlands) Limited

A&K Developments (Midlands) Limited (Registered number: 10001488)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


A&K Developments (Midlands) Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: K S Dhami
Mrs A K Dhami





SECRETARY: Mrs A K Dhami





REGISTERED OFFICE: 2 Besthorpe Close
Oakwood
Derby
DE21 4RQ





REGISTERED NUMBER: 10001488 (England and Wales)





ACCOUNTANTS: NP & Associates Limited
2 Besthorpe Close
Oakwood
Derby
Derbyshire
DE21 4RQ

A&K Developments (Midlands) Limited (Registered number: 10001488)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 578,400 540,000

CURRENT ASSETS
Cash at bank 33,191 46,379

CREDITORS
Amounts falling due within one year 5 267,508 292,418
NET CURRENT LIABILITIES (234,317 ) (246,039 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

344,083

293,961

CREDITORS
Amounts falling due after more than one year 6 (117,919 ) (121,519 )

PROVISIONS FOR LIABILITIES (24,336 ) (17,040 )
NET ASSETS 201,828 155,402

CAPITAL AND RESERVES
Called up share capital 100 100
Non-distributable reserves 103,748 72,644
Retained earnings 97,980 82,658
SHAREHOLDERS' FUNDS 201,828 155,402

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 December 2023 and were signed on its behalf by:





K S Dhami - Director


A&K Developments (Midlands) Limited (Registered number: 10001488)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

A&K Developments (Midlands) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 540,000
Revaluations 38,400
At 31 March 2023 578,400
NET BOOK VALUE
At 31 March 2023 578,400
At 31 March 2022 540,000

A&K Developments (Midlands) Limited (Registered number: 10001488)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


4. INVESTMENT PROPERTY - continued

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2017 2,763
Valuation in 2018 22,300
Valuation in 2019 27,820
Valuation in 2020 7,200
Valuation in 2021 5,600
Valuation in 2022 24,000
Valuation in 2023 38,400
Cost 450,317
578,400

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 450,317 450,317

Investment property was valued on at a fair value basis on 31 March 2023 by the directors. .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,600 3,600
Amounts owed to participating interests 136,422 156,589
Taxation and social security 4,211 4,665
Other creditors 123,275 127,564
267,508 292,418

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 10,800 14,400
Other creditors 107,119 107,119
117,919 121,519

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans 107,119 107,119

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans 107,119 107,119

Some of the investment properties are secured by mortgages dated 15 October 2016 and 20 August 2018.