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Registered number: 10982599
Acklam Developments Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Pennywise Accounting ltd
ICAEW
Dickhurst House
Rodgate Lane
Haslemere
Surrey
GU27 2EW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10982599
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 37 158
Tangible Assets 5 5,668 9,751
Investments 6 51,519 148,427
57,224 158,336
CURRENT ASSETS
Debtors 7 55,494 47,025
Cash at bank and in hand 194,191 99,489
249,685 146,514
Creditors: Amounts Falling Due Within One Year 8 (155,825 ) 3,974
NET CURRENT ASSETS (LIABILITIES) 93,860 150,488
TOTAL ASSETS LESS CURRENT LIABILITIES 151,084 308,824
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,417 ) (2,216 )
NET ASSETS 149,667 306,608
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 149,567 306,508
SHAREHOLDERS' FUNDS 149,667 306,608
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Charles Hustler
Director
16th July 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Acklam Developments Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10982599 . The registered office is Alexander House, 1st Floor, 14-16 Peterborough Road, London, SW6 3BN.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are the company website and patents. It is amortised on a straight line basis to profit and loss account over its estimated economic life of 5 years.
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:
Plant & Machinery over three years on a straight line basis
Motor Vehicles over three years on a straight line basis
Fixtures & Fittings over three years on a straight line basis
Computer Equipment over three years on a straight line basis
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
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4. Intangible Assets
Other
£
Cost
As at 1 January 2023 607
As at 31 December 2023 607
Amortisation
As at 1 January 2023 449
Provided during the period 121
As at 31 December 2023 570
Net Book Value
As at 31 December 2023 37
As at 1 January 2023 158
Intangible assets represent the investment in company patents and branding.
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 17,514 5,830 23,344
Additions 749 - 749
As at 31 December 2023 18,263 5,830 24,093
Depreciation
As at 1 January 2023 7,300 6,293 13,593
Provided during the period 5,439 145 5,584
Other - (752 ) (752 )
As at 31 December 2023 12,739 5,686 18,425
Net Book Value
As at 31 December 2023 5,524 144 5,668
As at 1 January 2023 10,214 (463 ) 9,751
6. Investments
Other
£
Cost
As at 1 January 2023 275,094
Disposals (96,908 )
As at 31 December 2023 178,186
Provision
As at 1 January 2023 126,667
As at 31 December 2023 126,667
...CONTINUED
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Net Book Value
As at 31 December 2023 51,519
As at 1 January 2023 148,427
Investments are stated at cost.
7. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 1,831 1,404
Corporation tax recoverable assets 53,246 43,000
VAT 417 2,621
55,494 47,025
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 3,649 869
Corporation tax (7,994 ) (7,994 )
Other taxes and social security 1 1
Accruals and deferred income 4,426 2,213
Director's loan account 155,743 937
155,825 (3,974 )
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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