IRIS Accounts Production v24.1.4.33 12285201 Board of Directors 1.11.22 31.10.23 31.10.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh122852012022-10-31122852012023-10-31122852012022-11-012023-10-31122852012021-10-31122852012021-11-012022-10-31122852012022-10-3112285201ns15:EnglandWales2022-11-012023-10-3112285201ns14:PoundSterling2022-11-012023-10-3112285201ns10:Director12022-11-012023-10-3112285201ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3112285201ns10:SmallEntities2022-11-012023-10-3112285201ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-3112285201ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3112285201ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3112285201ns10:FullAccounts2022-11-012023-10-311228520112022-11-012023-10-3112285201ns10:Director22022-11-012023-10-3112285201ns10:RegisteredOffice2022-11-012023-10-3112285201ns5:CurrentFinancialInstruments2023-10-3112285201ns5:CurrentFinancialInstruments2022-10-3112285201ns5:Non-currentFinancialInstruments2023-10-3112285201ns5:Non-currentFinancialInstruments2022-10-3112285201ns5:ShareCapital2023-10-3112285201ns5:ShareCapital2022-10-3112285201ns5:RetainedEarningsAccumulatedLosses2023-10-3112285201ns5:RetainedEarningsAccumulatedLosses2022-10-3112285201ns5:NetGoodwill2022-11-012023-10-3112285201ns5:PlantMachinery2022-11-012023-10-3112285201ns5:NetGoodwill2022-10-3112285201ns5:NetGoodwill2023-10-3112285201ns5:NetGoodwill2022-10-3112285201ns5:PlantMachinery2022-10-3112285201ns5:PlantMachinery2023-10-3112285201ns5:PlantMachinery2022-10-3112285201ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-10-3112285201ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-11-012023-10-3112285201ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-10-3112285201ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-10-3112285201ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3112285201ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-3112285201ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-10-3112285201ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-10-311228520112022-11-012023-10-31
REGISTERED NUMBER: 12285201 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

AKN Home Improvement Ltd

AKN Home Improvement Ltd (Registered number: 12285201)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AKN Home Improvement Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTORS: L C Adkins
A Adkins





REGISTERED OFFICE: c/o 14a Waterside Business Park
Livingstone Road
Hessle
East Yorkshire
HU13 0EG





REGISTERED NUMBER: 12285201 (England and Wales)






AKN Home Improvement Ltd (Registered number: 12285201)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,000 4,000
Tangible assets 5 2,220 3,540
4,220 7,540

CURRENT ASSETS
Stocks 10,000 12,500
Debtors 6 47,028 42,651
Cash at bank 31,853 98,950
88,881 154,101
CREDITORS
Amounts falling due within one year 7 74,813 131,040
NET CURRENT ASSETS 14,068 23,061
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,288

30,601

CREDITORS
Amounts falling due after more than one
year

8

-

(5,436

)

PROVISIONS FOR LIABILITIES (390 ) (1,688 )
NET ASSETS 17,898 23,477

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 17,798 23,377
17,898 23,477

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

AKN Home Improvement Ltd (Registered number: 12285201)

Balance Sheet - continued
31 October 2023


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 Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





L C Adkins - Director


AKN Home Improvement Ltd (Registered number: 12285201)

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

1. STATUTORY INFORMATION

AKN Home Improvement Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost and 20% on cost

Stock accounting policy
Stocks are stated at the lower of costs and estimated selling price less costs to complete and sell. Stocks are valued on a first in and first out basis.

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.

AKN Home Improvement Ltd (Registered number: 12285201)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 10,000
AMORTISATION
At 1 November 2022 6,000
Charge for year 2,000
At 31 October 2023 8,000
NET BOOK VALUE
At 31 October 2023 2,000
At 31 October 2022 4,000

AKN Home Improvement Ltd (Registered number: 12285201)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 8,056
Additions 483
At 31 October 2023 8,539
DEPRECIATION
At 1 November 2022 4,516
Charge for year 1,803
At 31 October 2023 6,319
NET BOOK VALUE
At 31 October 2023 2,220
At 31 October 2022 3,540

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 7,500
DEPRECIATION
At 1 November 2022 4,350
Charge for year 1,500
At 31 October 2023 5,850
NET BOOK VALUE
At 31 October 2023 1,650
At 31 October 2022 3,150

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 9,833 9,642
Other debtors 37,195 33,009
47,028 42,651

AKN Home Improvement Ltd (Registered number: 12285201)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 4,444 13,333
Hire purchase contracts 992 2,381
Trade creditors 571 1,044
Corporation tax 5,026 12,962
Social security and other taxes 206 259
Pension creditor 330 439
Other creditors 5,755 15,172
Directors' current accounts 55,539 83,675
Accrued expenses 1,950 1,775
74,813 131,040

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans - 1-2 years - 4,444
Hire purchase contracts - 992
- 5,436

9. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Hire purchase contracts 992 3,373

Net obligations under hire purchase are secured on the assets to which they relate to.

10. RELATED PARTY DISCLOSURES

At the year-end there was a balance of £30,000 (2022 : £30,000) owing to a company under the same common control.

11. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.