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Unaudited Financial Statements for the Year Ended 31 March 2023

for

Akosystems Limited

Akosystems Limited (Registered number: 02888487)






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


Akosystems Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: A K Oates





SECRETARY: Mrs L Oates





REGISTERED OFFICE: 54a Ridge Street
Stourbridge
West Midlands
DY8 4QF





REGISTERED NUMBER: 02888487 (England and Wales)





ACCOUNTANTS: Peter Upton
Chartered Accountant
Bridge House
2 Bridge Avenue
Maidenhead
Berkshire
SL6 1RR

Akosystems Limited (Registered number: 02888487)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,661 1,947

CURRENT ASSETS
Stocks 5 8,138 7,945
Cash at bank and in hand 61,468 84,660
69,606 92,605
CREDITORS
Amounts falling due within one year 6 2,909 3,055
NET CURRENT ASSETS 66,697 89,550
TOTAL ASSETS LESS CURRENT
LIABILITIES

68,358

91,497

PROVISIONS FOR LIABILITIES 7 316 359
NET ASSETS 68,042 91,138

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 67,942 91,038
SHAREHOLDERS' FUNDS 68,042 91,138

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 director acknowledges his 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 director and authorised for issue on 22 November 2023 and were signed by:





A K Oates - Director


Akosystems Limited (Registered number: 02888487)

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

1. STATUTORY INFORMATION

Akosystems 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.

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.

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

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 - 25% on cost
Fixtures and fittings - 25% on cost

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

Financial instruments
The company only has financial assets and liabilities of a kind that qualify as basic financial instruments, which are initially recognised at transaction value and subsequently measured at their settlement value.

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.

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

3. EMPLOYEES AND DIRECTORS

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

Akosystems Limited (Registered number: 02888487)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2022 34,278 7,854 42,132
Additions 164 - 164
At 31 March 2023 34,442 7,854 42,296
DEPRECIATION
At 1 April 2022 32,331 7,854 40,185
Charge for year 450 - 450
At 31 March 2023 32,781 7,854 40,635
NET BOOK VALUE
At 31 March 2023 1,661 - 1,661
At 31 March 2022 1,947 - 1,947

5. STOCKS
31.3.23 31.3.22
£    £   
Stocks 8,138 7,945

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 1,212 1,141
Social security and other taxes 390 379
VAT 407 635
Accrued expenses 900 900
2,909 3,055

7. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 316 359

Deferred
tax
£   
Balance at 1 April 2022 359
Deferred tax (43 )
Balance at 31 March 2023 316

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary £1 100 100

Akosystems Limited (Registered number: 02888487)

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

9. RESERVES
Retained
earnings
£   

At 1 April 2022 91,038
Deficit for the year (23,096 )
At 31 March 2023 67,942

10. ULTIMATE CONTROLLING PARTY

The company was under the control of the director Mr AK Oates by virtue of his shareholdings.