Company Registration No. 13604524 (England and Wales)
Akar Global Ltd
Unaudited accounts
for the year ended 30 September 2023
Akar Global Ltd
Unaudited accounts
Contents
Akar Global Ltd
Company Information
for the year ended 30 September 2023
Company Number
13604524 (England and Wales)
Registered Office
214 Baker Street
Enfield
EN1 3JT
England
Accountants
DNG Associates
214 Baker Street
Enfield
London
EN1 3JT
Akar Global Ltd
Statement of financial position
as at 30 September 2023
Cash at bank and in hand
-
898
Creditors: amounts falling due within one year
(17,403)
(34,587)
Net current liabilities
(17,403)
(16,503)
Net liabilities
(17,403)
(10,904)
Called up share capital
100
100
Profit and loss account
(17,503)
(11,004)
Shareholders' funds
(17,403)
(10,904)
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 September 2024 and were signed on its behalf by
Mr D Karabulut
Director
Company Registration No. 13604524
Akar Global Ltd
Notes to the Accounts
for the year ended 30 September 2023
Akar Global Ltd is a private company, limited by shares, registered in England and Wales, registration number 13604524. The registered office is 214 Baker Street , Enfield, EN1 3JT, England .
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% - reducing balance method
Computer equipment
20% - reducing balance method
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company during this uncertain period.
Akar Global Ltd
Notes to the Accounts
for the year ended 30 September 2023
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 October 2022
6,250
749
6,999
Disposals
(6,250)
(749)
(6,999)
At 30 September 2023
-
-
-
At 1 October 2022
1,250
150
1,400
On disposals
(1,250)
(150)
(1,400)
At 30 September 2023
-
-
-
At 30 September 2023
-
-
-
At 30 September 2022
5,000
599
5,599
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Other creditors
16,203
34,587
Allotted, called up and fully paid:
50 A Ordinary shares of £1 each
50
50
50 B Ordinary shares of £1 each
50
50
8
Transactions with related parties
Included within other creditors is an amount of £16,203 (2022: £34,587) due to the director of the company. There are no terms as to interest or repayment in respect of this balance.
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).