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Registration number: 14482934

AK Management Limited

Annual Report and Unaudited Financial Statements

for the Period from 14 November 2022 to 30 November 2023

 

AK Management Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Balance Sheet

5

Statement of Changes in Equity

6

Notes to the Unaudited Financial Statements

7 to 10

iXBRL Detailed Profit and Loss Account

11

 

AK Management Limited

Company Information

Director

Miss A Krenkiewicz

Registered office

The Corner House
2 High Street
Aylesford
Kent
ME20 7BG

Accountants

Thompson Elphick Limited
Chartered Certified Accountants
The Corner House
2 High Street
Aylesford
Kent
ME20 7BG

 

AK Management Limited

Director's Report for the Period from 14 November 2022 to 30 November 2023

The director presents her report and the financial statements for the period from 14 November 2022 to 30 November 2023.

Incorporation

The company was incorporated on 14 November 2022.

Director of the company

The director who held office during the period was as follows:

Miss A Krenkiewicz (appointed 14 November 2022)

Principal activity

The principal activity of the company is letting of owned or leased real estate.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 12 April 2024
 

.........................................
Miss A Krenkiewicz
Director

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
AK Management Limited
for the Period Ended 30 November 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of AK Management Limited for the period ended 30 November 2023 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of AK Management Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of AK Management Limited and state those matters that we have agreed to state to the Board of Directors of AK Management Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AK Management Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that AK Management Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of AK Management Limited. You consider that AK Management Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of AK Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Thompson Elphick Limited
Chartered Certified Accountants
The Corner House
2 High Street
Aylesford
Kent
ME20 7BG

12 April 2024

 

AK Management Limited

Profit and Loss Account for the Period from 14 November 2022 to 30 November 2023

Note

2023
£

Turnover

 

144,377

Gross profit

 

144,377

Administrative expenses

 

(131,766)

Operating profit

 

12,611

Profit before tax

12,611

Tax on profit

 

(2,396)

Profit for the financial period

 

10,215

The above results were derived from continuing operations.

The company has no recognised gains or losses for the period other than the results above.

 

AK Management Limited

(Registration number: 14482934)
Balance Sheet as at 30 November 2023

Note

2023
£

Current assets

 

Debtors

4

1,800

Cash at bank and in hand

 

2,878

 

4,678

Creditors: Amounts falling due within one year

5

(4,363)

Net assets

 

315

Capital and reserves

 

Called up share capital

100

Retained earnings

215

Shareholders' funds

 

315

For the financial period ending 30 November 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 accounts for the period in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 12 April 2024
 

.........................................
Miss A Krenkiewicz
Director

 

AK Management Limited

Statement of Changes in Equity for the Period from 14 November 2022 to 30 November 2023

Share capital
£

Retained earnings
£

Total
£

Profit for the period

-

10,215

10,215

Dividends

-

(10,000)

(10,000)

New share capital subscribed

100

-

100

At 30 November 2023

100

215

315

 

AK Management Limited

Notes to the Unaudited Financial Statements for the Period from 14 November 2022 to 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Corner House
2 High Street
Aylesford
Kent
ME20 7BG
England

These financial statements were authorised for issue by the director on 12 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

AK Management Limited

Notes to the Unaudited Financial Statements for the Period from 14 November 2022 to 30 November 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

 

AK Management Limited

Notes to the Unaudited Financial Statements for the Period from 14 November 2022 to 30 November 2023

4

Debtors

2023
£

Other debtors

1,800

1,800

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Loans and borrowings

6

767

Taxation and social security

 

2,396

Accruals and deferred income

 

1,200

 

4,363

6

Loans and borrowings

2023
£

Current loans and borrowings

Other borrowings

767

7

Dividends

   

2023

   

£

Interim dividend of £10,000.00 per ordinary share

 

10,000

     

 

AK Management Limited

Notes to the Unaudited Financial Statements for the Period from 14 November 2022 to 30 November 2023

8

Related party transactions

Dividends paid to the director

 

2023
£

Miss A Krenkiewicz

 

Interim dividends

10,000

   

 

AK Management Limited

iXBRL Detailed Profit and Loss Account for the Period from 14 November 2022 to 30 November 2023

2023
£

Turnover/revenue

144,377

Cost of sales

Opening stock/inventories

-

Closing stock/inventories

-

Gross profit

144,377

Distribution costs

Administrative expenses

Audit and accountancy other services

(1,200)

Rent, rates and services costs

(116,113)

Utilities costs

(9,190)

Other repairs and maintenance costs

(2,245)

Vehicle costs

(957)

Legal and professional costs

(13)

Insurance costs

(574)

Telecommunications

(954)

Other operational and administration costs

(520)

Other operating income

Other items

Profit on ordinary activities before taxation

12,611

Tax on profit or loss on ordinary activities

(2,396)

Profit for the financial period

10,215