Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-31true2022-09-012truefalsefalseNo description of principal activity2The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10939156 2022-09-01 2023-08-31 10939156 2021-09-01 2022-08-31 10939156 2023-08-31 10939156 2022-08-31 10939156 c:Director1 2022-09-01 2023-08-31 10939156 d:FreeholdInvestmentProperty 2023-08-31 10939156 d:FreeholdInvestmentProperty 2022-08-31 10939156 d:CurrentFinancialInstruments 2023-08-31 10939156 d:CurrentFinancialInstruments 2022-08-31 10939156 d:Non-currentFinancialInstruments 2023-08-31 10939156 d:Non-currentFinancialInstruments 2022-08-31 10939156 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 10939156 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 10939156 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 10939156 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 10939156 d:ShareCapital 2023-08-31 10939156 d:ShareCapital 2022-08-31 10939156 d:RetainedEarningsAccumulatedLosses 2023-08-31 10939156 d:RetainedEarningsAccumulatedLosses 2022-08-31 10939156 c:FRS102 2022-09-01 2023-08-31 10939156 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 10939156 c:FullAccounts 2022-09-01 2023-08-31 10939156 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 10939156 e:PoundSterling 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure
Company registration number: 10939156







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2023


EKONG HOLDINGS LIMITED






































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EKONG HOLDINGS LIMITED
REGISTERED NUMBER:10939156



STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
515,829
515,829

  
515,829
515,829

Current assets
  

Debtors: amounts falling due within one year
  
1,500
-

Cash at bank and in hand
  
753
221,655

  
2,253
221,655

Creditors: amounts falling due within one year
 6 
(15,690)
(7,013)

Net current (liabilities)/assets
  
 
 
(13,437)
 
 
214,642

Total assets less current liabilities
  
502,392
730,471

Creditors: amounts falling due after more than one year
 7 
(538,422)
(748,763)

  

Net liabilities
  
(36,030)
(18,292)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(36,130)
(18,392)

  
(36,030)
(18,292)


Page 1

 


EKONG HOLDINGS LIMITED
REGISTERED NUMBER:10939156


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
M A Ekong
Director

Date: 27 August 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 


EKONG HOLDINGS LIMITED
 


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

1.


General information

Ekong Holdings Limited 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

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have undertaken to continue their financial support of the company for the foreseeable future. On this basis they believe it is appropriate to prepare these accounts on a going concern basis.

  
2.3

Revenue

Rental income is recognised on a straight-line basis over the period in which the rental relates.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 3

 


EKONG HOLDINGS LIMITED
 


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

2.Accounting policies (continued)

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

Financial instruments

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Investment property


Freehold investment property

£



Valuation


At 1 September 2022
515,829



At 31 August 2023
515,829

The 2023 valuations were made by the directors, on an open market value for existing use basis.





5.


Debtors

2023
2022
£
£


Prepayments and accrued income
1,500
-

1,500
-


Page 4

 


EKONG HOLDINGS LIMITED
 


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

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
5,857
-

Amounts owed to connected undertakings
6,683
6,013

Accruals and deferred income
3,150
1,000

15,690
7,013


The following liabilities were secured:

2023
2022
£
£



Bank loans
5,857
-

5,857
-

Details of security provided:

Bank loans are secured by way of charges over the investment properties of the company.

Page 5

 


EKONG HOLDINGS LIMITED
 


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

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
204,954
216,452

Other creditors
333,468
532,311

538,422
748,763


The following liabilities were secured:

2023
2022
£
£



Bank loans
204,954
216,452

204,954
216,452

Details of security provided:

Bank loans are secured by way of charges over the investment properties of the company.

The aggregate amount of liabilities repayable wholly or in part more than five years after the reporting date is:

2023
2022
£
£


Repayable by instalments
180,906
186,763

180,906
186,763




8.


Related party transactions

At the balance sheet date the company owed £333,468 (2022: £532,311) to the directors. The balance can be found within creditors due in more than one year and this balance is free of interest.
Included within creditors amounts falling due within one year is an amount of £6,683 (2022: £6,013) due to a connected undertaking and this balance is free of interest.

 
Page 6