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REGISTERED NUMBER: 05957680 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

ALBAKOS CONTRACTORS LTD

ALBAKOS CONTRACTORS LTD (REGISTERED NUMBER: 05957680)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 7

ALBAKOS CONTRACTORS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: G Kojku





SECRETARY: Ms A Kojku





REGISTERED OFFICE: 24 Grasmere Court
Palmerston Road
Wood Green
London
N22 8QR





REGISTERED NUMBER: 05957680 (England and Wales)





ACCOUNTANTS: Chris Skarparis & Co Ltd
Chartered Accountants
2nd Floor
10(b) Aldermans Hill
Palmers Green
London
N13 4PJ

ALBAKOS CONTRACTORS LTD (REGISTERED NUMBER: 05957680)

BALANCE SHEET
31 OCTOBER 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,862 12,779

CREDITORS
Amounts falling due within one year 5 57,578 25,111
NET CURRENT LIABILITIES (57,578 ) (25,111 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(46,716

)

(12,332

)

CREDITORS
Amounts falling due after more than one
year

6

-

(32,467

)

PROVISIONS FOR LIABILITIES 9 - (2,428 )
NET LIABILITIES (46,716 ) (47,227 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 (46,816 ) (47,327 )
SHAREHOLDERS' FUNDS (46,716 ) (47,227 )

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 director acknowledges his 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.

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 director and authorised for issue on 30 July 2024 and were signed by:





G Kojku - Director


ALBAKOS CONTRACTORS LTD (REGISTERED NUMBER: 05957680)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Albakos Contractors Limited is a private company,limited by shares, registered in England and Wales.The company 's registered number is 05957680 and registered office address is 24 Grasmere Court, Palmerston Road, Wood Green, London, N22 8QR.

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.

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 - 25% on reducing balance and 15% on reducing balance

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

Revenue recognition
Amounts due under contracts-not yet invoiced (work in progress) are valued at the recoverable standard value of time charged by all personnel engaged in the provision of construction works. Revenue is recognised as the contracts progress to reflect the partial performance of the contractual obligation. The amount of revenue recognised reflects the accrual of the right for consideration as contract activity progresses by reference to the value of work performed.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

ALBAKOS CONTRACTORS LTD (REGISTERED NUMBER: 05957680)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 42,500
DEPRECIATION
At 1 November 2022 29,721
Charge for year 1,917
At 31 October 2023 31,638
NET BOOK VALUE
At 31 October 2023 10,862
At 31 October 2022 12,779

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

Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 18,049
DEPRECIATION
At 1 November 2022
and 31 October 2023 (2,538 )
NET BOOK VALUE
At 31 October 2023 20,587
At 31 October 2022 20,587

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts (see note 7) 20,266 20,266
Other loans (see note 7) - 740
Trade creditors (1 ) (1 )
Tax 200 200
Social security and other taxes 3,006 3,006
Directors' current accounts 32,907 -
Accrued expenses 1,200 900
57,578 25,111

ALBAKOS CONTRACTORS LTD (REGISTERED NUMBER: 05957680)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Directors' loan accounts - 32,467

7. LOANS

An analysis of the maturity of loans is given below:

31.10.23 31.10.22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 20,266 20,266
Amt owed to connected company - 740
20,266 21,006

8. DIRECTOR LOAN

Included in Creditors - amounts falling due less than one year is a loan of £32,907 (2022-NIL) due to the Director. This loan is recognised at transaction price. The director pledged not to call in the director's loan due to him which is interest free and repayable on demand until the company is in a position to pay.

9. PROVISIONS FOR LIABILITIES
31.10.23 31.10.22
£    £   
Deferred tax
Accelerated capital allowances - 2,428

Deferred
tax
£   
Balance at 1 November 2022 2,428
Credit to Income Statement during year (2,428 )
Balance at 31 October 2023 -

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
100 Ordinary £1 100 100

ALBAKOS CONTRACTORS LTD (REGISTERED NUMBER: 05957680)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

11. RESERVES
Retained
earnings
£   

At 1 November 2022 (47,327 )
Profit for the year 511
At 31 October 2023 (46,816 )

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Interest on the director's loan account was charged at the official HM Revenue & Customs rates.

13. GOING CONCERN

The company ceased trading on 31/10/2023. The Financial statements have been prepared on a non going concern basis.All fixed assets have been reclassified as current assets and are valued at the lower of cost and net realisable value. Long term liabilities have been reclassified as current liabilities and any costs of early settlement are recognised; Any other costs associated with sale and winding up the business are recognised.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ALBAKOS CONTRACTORS LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Albakos Contractors Ltd for the year ended 31 October 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Albakos Contractors Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Albakos Contractors Ltd and state those matters that we have agreed to state to the director of Albakos Contractors Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Albakos Contractors Ltd and its director for our work or for this report.

It is your duty to ensure that Albakos Contractors Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Albakos Contractors Ltd. You consider that Albakos Contractors Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Albakos Contractors Ltd. 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 financial statements.






Chris Skarparis & Co Ltd
Chartered Accountants
2nd Floor
10(b) Aldermans Hill
Palmers Green
London
N13 4PJ


30 July 2024