Company registration number 14293367 (England and Wales)
AKAPP LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023
PAGES FOR FILING WITH REGISTRAR
AKAPP LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
AKAPP LTD
BALANCE SHEET
AS AT 31 AUGUST 2023
31 August 2023
- 1 -
2023
Notes
£
£
Fixed assets
Investment property
3
171,814
Current assets
Debtors
4
83
Cash at bank and in hand
36,289
36,372
Creditors: amounts falling due within one year
5
(205,164)
Net current liabilities
(168,792)
Net assets
3,022
Capital and reserves
Called up share capital
100
Profit and loss reserves
2,922
Total equity
3,022
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 8 July 2024
Anton Powers
Director
Company registration number 14293367 (England and Wales)
AKAPP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023
- 2 -
1
Accounting policies
Company information
AKAPP Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, Colwyn Chambers, 19 York Street, Manchester, M2 3BA
1.1
Reporting period
The financial statements have been prepared for a longer period, with the date of incorporation being the 12th May 2022.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.
1.3
Turnover
Turnover represents amounts receivable for rental income.
1.4
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Financial instruments
The company only has basic financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.
Basic financial liabilities
Basic financial instruments, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
AKAPP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 AUGUST 2023
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
Number
Total
1
3
Investment property
2023
£
Fair value
At 12 August 2022
Additions
171,814
At 31 August 2023
171,814
4
Debtors
2023
Amounts falling due within one year:
£
Prepayments
83
5
Creditors: amounts falling due within one year
2023
£
Corporation tax
686
Other creditors
200,503
Accruals and deferred income
3,975
205,164
6
Related party transactions
In relation to the amount disclosed under other creditors, this is an interest free loan from Anton Powers Ltd which the director doesn't intend to recall.