Acorah Software Products - Accounts Production 14.5.601 false true 30 September 2022 1 October 2021 false 1 October 2022 30 September 2023 30 September 2023 05239396 Mr Adeniyi Akadiri Mr Oluwaseun Akadiri Folasade Floode O Akadiri true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05239396 2022-09-30 05239396 2023-09-30 05239396 2022-10-01 2023-09-30 05239396 frs-core:CurrentFinancialInstruments 2023-09-30 05239396 frs-core:Non-currentFinancialInstruments 2023-09-30 05239396 frs-core:FurnitureFittings 2023-09-30 05239396 frs-core:FurnitureFittings 2022-10-01 2023-09-30 05239396 frs-core:FurnitureFittings 2022-09-30 05239396 frs-core:RevaluationReserve 2022-09-30 05239396 frs-core:RevaluationReserve 2023-09-30 05239396 frs-core:ShareCapital 2023-09-30 05239396 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30 05239396 frs-bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 05239396 frs-bus:FilletedAccounts 2022-10-01 2023-09-30 05239396 frs-bus:SmallEntities 2022-10-01 2023-09-30 05239396 frs-bus:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 05239396 frs-bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 05239396 1 2022-10-01 2023-09-30 05239396 frs-bus:Director1 2022-10-01 2023-09-30 05239396 frs-bus:Director2 2022-10-01 2023-09-30 05239396 frs-bus:CompanySecretary1 2022-10-01 2023-09-30 05239396 frs-countries:EnglandWales 2022-10-01 2023-09-30 05239396 2021-09-30 05239396 2022-09-30 05239396 2021-10-01 2022-09-30 05239396 frs-core:CurrentFinancialInstruments 2022-09-30 05239396 frs-core:Non-currentFinancialInstruments 2022-09-30 05239396 frs-core:RevaluationReserve 2022-09-30 05239396 frs-core:ShareCapital 2022-09-30 05239396 frs-core:RetainedEarningsAccumulatedLosses 2022-09-30
Registered number: 05239396
Yokad Ventures Limited
Unaudited Financial Statements
For The Year Ended 30 September 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 05239396
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,071 4,095
Investment Properties 5 1,350,000 1,350,000
1,353,071 1,354,095
CURRENT ASSETS
Cash at bank and in hand 3,292 4,550
3,292 4,550
Creditors: Amounts Falling Due Within One Year 6 (592,322 ) (575,615 )
NET CURRENT ASSETS (LIABILITIES) (589,030 ) (571,065 )
TOTAL ASSETS LESS CURRENT LIABILITIES 764,041 783,030
Creditors: Amounts Falling Due After More Than One Year 7 (648,970 ) (670,052 )
NET ASSETS 115,071 112,978
CAPITAL AND RESERVES
Called up share capital 8 100 100
Revaluation reserve 9 100,149 100,149
Profit and Loss Account 14,822 12,729
SHAREHOLDERS' FUNDS 115,071 112,978
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Page 2
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Oluwaseun Akadiri
Director
25/03/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Yokad Ventures Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05239396 . The registered office is 15 Rookery Mead, Coulsdon, CR5 1NY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25%
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 October 2022 27,269
As at 30 September 2023 27,269
Depreciation
As at 1 October 2022 23,174
Provided during the period 1,024
As at 30 September 2023 24,198
Net Book Value
As at 30 September 2023 3,071
As at 1 October 2022 4,095
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5. Investment Property
2023
£
Fair Value
As at 1 October 2022 and 30 September 2023 1,350,000
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 16,221 10,279
Other creditors 378,819 378,819
Accruals and deferred income 1,200 1,200
Directors' loan accounts 196,082 185,317
592,322 575,615
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 648,970 670,052
648,970 670,052
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
9. Reserves
Revaluation Reserve
£
As at 1 October 2022 100,149
As at 30 September 2023 100,149
10. Related Party Transactions
During the year the following directors loaned the company the following amounts which are interest free and repayable on demand:-
Oluwaseun Akadiri: £196,082 (2022: £185,317)
Ayoka Olufunmilayo Akadiri who resigned as a director on 7 April 2016 loaned the company £378,730 (2022: £378,730) which is interest free and repayable on demand.
11. Ultimate Controlling Party
The company's ultimate controlling party is   O Akadiri .
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