1 April 2022 v2023.33.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activity00falsetruexbrli:purexbrli:sharesiso4217:GBP092500672022-04-012023-03-31092500672023-03-31092500672022-03-3109250067core:WithinOneYear2023-03-3109250067core:WithinOneYear2022-03-3109250067core:AfterOneYear2023-03-3109250067core:AfterOneYear2022-03-3109250067core:ShareCapital2023-03-3109250067core:ShareCapital2022-03-3109250067core:RetainedEarningsAccumulatedLosses2023-03-3109250067core:RetainedEarningsAccumulatedLosses2022-03-3109250067bus:Director12022-04-012023-03-3109250067bus:Director22022-04-012023-03-3109250067bus:RegisteredOffice2022-04-012023-03-3109250067core:OfficeEquipment2022-04-012023-03-3109250067core:FurnitureFittings2022-04-012023-03-3109250067core:PlantMachinery2022-04-012023-03-31092500672022-04-0109250067core:CostValuation2022-04-0109250067core:CostValuation2023-03-310925006712022-04-012023-03-31092500672021-04-012022-03-3109250067countries:EnglandWales2022-04-012023-03-3109250067bus:AuditExemptWithAccountantsReport2022-04-012023-03-3109250067bus:PrivateLimitedCompanyLtd2022-04-012023-03-3109250067bus:SmallEntities2022-04-012023-03-3109250067bus:AbridgedAccounts2022-04-012023-03-31
Company registration number:
09250067
Ackacs Limited
Unaudited Filleted Abridged Financial Statements for the year ended
31 March 2023
Ackacs Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Ackacs Limited
Year ended
31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
abridged financial statements
of
Ackacs Limited
for the year ended
31 March 2023
which comprise the abridged income statement, abridged statement of financial position and 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 https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Members/​Doc/​rule/​2018-rulebook.pdf.
This report is made solely to the Board of Directors of
Ackacs Limited
, as a body, in accordance with the terms of our engagement letter dated 1 April 2020. Our work has been undertaken solely to prepare for your approval the
abridged financial statements
of
Ackacs Limited
and state those matters that we have agreed to state to the Board of Directors of
Ackacs Limited
, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Technical/​fact/​technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
Ackacs Limited
and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that
Ackacs Limited
has kept adequate accounting records and to prepare statutory
abridged financial statements
that give a true and fair view of the assets, liabilities, financial position and loss of
Ackacs Limited
. You consider that
Ackacs Limited
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 abridged financial statements of Ackacs Limited. 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 abridged financial statements.
Augustine Kanu
ACCA - QE, FMAAT, MBA, BA Hons
13 The Slade
Headington
Oxford
Oxfordshire
OX3 7HL
United Kingdom
Date:
26 December 2023
Ackacs Limited
Abridged Statement of Financial Position
31 March 2023
20232022
Note££
Fixed assets    
Tangible assets 5
112,554
 
618
 
Investments 5
4,547
 
4,547
 
117,101
 
5,165
 
Current assets    
Debtors
26,653
 
13,893
 
Cash at bank and in hand
1,210
 
30,301
 
27,863
 
44,194
 
Creditors: amounts falling due within one year
(52,858
)
(50,505
)
Net current liabilities
(24,995
)
(6,311
)
Total assets less current liabilities 92,106   (1,146 )
Creditors: amounts falling due after more than one year
(147,936
)
(45,453
)
Net liabilities
(55,830
)
(46,599
)
Capital and reserves    
Called up share capital
15,875
 
15,875
 
Profit and loss account
(71,705
)
(62,474
)
Shareholders deficit
(55,830
)
(46,599
)
For the year ending
31 March 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements.
All of the members have consented to the preparation of the abridged statement of financial position and the abridged income statement for the year ended
31 March 2023
in accordance with Section 444(2A) of the Companies Act 2006.
These
abridged 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.
These
abridged financial statements
were approved by the board of directors and authorised for issue on
26 December 2023
, and are signed on behalf of the board by:
A Kanu
Q Kanu
DirectorDirector
Company registration number:
09250067
Ackacs Limited
Notes to the Abridged Financial Statements
Year ended
31 March 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
13 The Slade
,
Headington
,
Oxford
,
Oxfordshire
,
OX3 7HL
, .

2 Statement of compliance

These
abridged financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
abridged financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
abridged financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
25% straight line
Fixtures and fittings
25% straight line
Plant and machinery
25% straight line

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each 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 and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the year was Nil (2022: Nil).

5 Fixed assets

Tangible assetsInvestmentsTotal
£££
Cost      
At
1 April 2022
1,885
 
4,547
  6,432  
Additions
112,091
  -   112,091  
At
31 March 2023
113,976
 
4,547
  118,523  
Impairment      
At
1 April 2022
1,267
  -   1,267  
Charge
155
  -   155  
At
31 March 2023
1,422
  -   1,422  
Carrying amount      
At
31 March 2023
112,554
 
4,547
 
117,101
 
At 31 March 2022
618
 
4,547
 
5,165