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COMPANY REGISTRATION NUMBER: 13058562
AK247 HOMES LIMITED
Filleted Unaudited Financial Statements
31 December 2023
AK247 HOMES LIMITED
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Current assets
Debtors
5
286,882
205,316
Cash at bank and in hand
40,803
48,636
---------
---------
327,685
253,952
Creditors: amounts falling due within one year
6
332,067
260,460
---------
---------
Net current liabilities
4,382
6,508
-------
-------
Total assets less current liabilities
( 4,382)
( 6,508)
-------
-------
Net liabilities
( 4,382)
( 6,508)
-------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 4,482)
( 6,608)
-------
-------
Shareholders deficit
( 4,382)
( 6,508)
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 19 August 2024 , and are signed on behalf of the board by:
Mrs D Wang
Director
Company registration number: 13058562
AK247 HOMES LIMITED
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 99 Bishopsgate, London, EC2M 3XD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: 4 ).
5. Debtors
2023
2022
£
£
Other debtors
286,882
205,316
---------
---------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
624
530
Social security and other taxes
3,819
Other creditors
331,443
256,111
---------
---------
332,067
260,460
---------
---------
7. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
Balance brought forward and outstanding
2023
2022
£
£
Mrs X Liu
38
Mrs D Wang
8,064
50
-------
----
8,064
88
-------
----
The balance of £ 8,064 due from Mrs D Wang , a director of the company, was interest free and will be repaid in full by 31 August 2024.