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Company No: 13902488 (England and Wales)

AK PROPERTY LONDON LTD

Unaudited Financial Statements
For the financial period from 08 February 2022 to 30 June 2023
Pages for filing with the registrar

AK PROPERTY LONDON LTD

Unaudited Financial Statements

For the financial period from 08 February 2022 to 30 June 2023

Contents

AK PROPERTY LONDON LTD

COMPANY INFORMATION

For the financial period from 08 February 2022 to 30 June 2023
AK PROPERTY LONDON LTD

COMPANY INFORMATION (continued)

For the financial period from 08 February 2022 to 30 June 2023
DIRECTOR Mr A M Knott
REGISTERED OFFICE Sigma House
Oak View Close
Edginswell Park
Torquay
Devon
TQ2 7FF
United Kingdom
COMPANY NUMBER 13902488 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
AK PROPERTY LONDON LTD

BALANCE SHEET

As at 30 June 2023
AK PROPERTY LONDON LTD

BALANCE SHEET (continued)

As at 30 June 2023
Note 30.06.2023
£
Fixed assets
Investment property 3 310,288
310,288
Current assets
Cash at bank and in hand 70
70
Creditors: amounts falling due within one year 4 ( 83,311)
Net current liabilities (83,241)
Total assets less current liabilities 227,047
Creditors: amounts falling due after more than one year 5 ( 225,675)
Net assets 1,372
Capital and reserves
Called-up share capital 6 1
Profit and loss account 1,371
Total shareholder's funds 1,372

For the financial period ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of AK Property London Ltd (registered number: 13902488) were approved and authorised for issue by the Director on 07 February 2024. They were signed on its behalf by:

Mr A M Knott
Director
AK PROPERTY LONDON LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 08 February 2022 to 30 June 2023
AK PROPERTY LONDON LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 08 February 2022 to 30 June 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

AK Property London Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House, Oak View Close, Edginswell Park, Torquay, Devon, TQ2 7FF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

During the period, it was agreed by the director that the company's yearend be extended to 30 June in order to be coterminous with other interests the director has separate to AK Property London Limited.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of refunds, rebates and discounts.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

2. Employees

Period from
08.02.2022 to
30.06.2023
Number
Monthly average number of persons employed by the Company during the period, including the director 0

3. Investment property

Investment property
£
Valuation
As at 08 February 2022 0
Additions 310,288
As at 30 June 2023 310,288

Valuation

There has been no valuation of investment property by an independent valuer during the year. The director believes that the market value of investment property has not materially changed from that shown at the date of its purchase, which was 6 April 2022.

4. Creditors: amounts falling due within one year

30.06.2023
£
Amounts owed to related parties 13,033
Taxation and social security 397
Other creditors 69,881
83,311

5. Creditors: amounts falling due after more than one year

30.06.2023
£
Bank loans (secured) 225,675

The bank loan is secured against the investment property held by the company.

6. Called-up share capital

30.06.2023
£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1

On 8 February 2022 the company issued 1 Ordinary £1 share at par.