Registered number
10881722
AKAA FAMILY LTD
Unaudited Filleted Accounts
31 July 2023
AKAA FAMILY LTD
Registered number: 10881722
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 880,697 874,929
Investments 4 241,250 241,250
1,121,947 1,116,179
Current assets
Cash at bank and in hand 14,203 4,611
Creditors: amounts falling due within one year 5 (120,374) (149,074)
Net current liabilities (106,171) (144,463)
Total assets less current liabilities 1,015,776 971,716
Creditors: amounts falling due after more than one year 6 (1,034,698) (1,032,068)
Net liabilities (18,922) (60,352)
Capital and reserves
Called up share capital 100 100
Profit and loss account (19,022) (60,452)
Shareholders' funds (18,922) (60,352)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Shandakumar Arjuna
Director
Approved by the board on 22 March 2024
AKAA FAMILY LTD
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 August 2022 889,476 - 889,476
Additions - 7,210 7,210
At 31 July 2023 889,476 7,210 896,686
Depreciation
At 1 August 2022 14,547 - 14,547
Charge for the year - 1,442 1,442
At 31 July 2023 14,547 1,442 15,989
Net book value
At 31 July 2023 874,929 5,768 880,697
At 31 July 2022 874,929 - 874,929
4 Investments
Other
investments
£
Cost
At 1 August 2022 241,250
At 31 July 2023 241,250
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 5,100 -
Other creditors 115,274 149,074
120,374 149,074
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 915,157 917,267
Other creditors 119,541 114,801
1,034,698 1,032,068
7 Other information
AKAA FAMILY LTD is a private company limited by shares and incorporated in England. Its registered office is:
860-862 Garratt Lane
London
SW17 0NB
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