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COMPANY REGISTRATION NUMBER: 09660620
Akwil Limited
Filleted Unaudited Financial Statements
26 June 2023
Akwil Limited
Financial Statements
Period from 28 June 2022 to 26 June 2023
Contents
Page
Officers and Professional Advisers
1
Statement of Financial Position
2
Notes to the Financial Statements
4
Akwil Limited
Officers and Professional Advisers
Director
Mr A Akka
Company Secretary
A Akka
Registered Office
41 Greek Street
Stockport
Cheshire
SK38AX
Accountants
Downham Mayer Clarke Limited
Chartered Accountants
41 Greek Street
Stockport
Cheshire
SK3 8AX
Akwil Limited
Statement of Financial Position
26 June 2023
26 Jun 23
27 Jun 22
Note
£
£
£
Current Assets
Stocks
15,260
14,860
Debtors
5
500
6,432
Cash at bank and in hand
49,818
14,569
--------
--------
65,578
35,861
Creditors: amounts falling due within one year
6
52,224
40,265
--------
--------
Net Current Assets/(Liabilities)
13,354
( 4,404)
--------
-------
Total Assets Less Current Liabilities
13,354
( 4,404)
Creditors: amounts falling due after more than one year
7
9,250
12,309
--------
--------
Net Assets/(Liabilities)
4,104
( 16,713)
--------
--------
Capital and Reserves
Called up share capital
1
1
Profit and loss account
4,103
( 16,714)
-------
--------
Shareholders Funds/(Deficit)
4,104
( 16,713)
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 26 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 members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Akwil Limited
Statement of Financial Position (continued)
26 June 2023
These financial statements were approved by the board of directors and authorised for issue on 15 March 2024 , and are signed on behalf of the board by:
Mr A Akka
Director
Company registration number: 09660620
Akwil Limited
Notes to the Financial Statements
Period from 28 June 2022 to 26 June 2023
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 41 Greek Street, Stockport, Cheshire, SK38AX.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue Recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, 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.
Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee Numbers
The average number of persons employed by the company during the period amounted to 1 (2022: 1 ).
5. Debtors
26 Jun 23
27 Jun 22
£
£
Trade debtors
4,437
Other debtors
500
1,995
----
-------
500
6,432
----
-------
6. Creditors: amounts falling due within one year
26 Jun 23
27 Jun 22
£
£
Corporation tax
1,197
Social security and other taxes
8,531
Other creditors
42,496
40,265
--------
--------
52,224
40,265
--------
--------
7. Creditors: amounts falling due after more than one year
26 Jun 23
27 Jun 22
£
£
Bank loans and overdrafts
9,250
12,309
-------
--------
8. Director's Advances, Credits and Guarantees
There were no directors advances, credits or guarantees in the current or previous year.
9. Related Party Transactions
The company was under the control of Mr A Akka throughout the current period. Mr A Akka is the managing director and majority shareholder.