Registered number: 9684187 | ||||||||
FOR THE YEAR ENDED 31/07/2024 | ||||||||
Prepared By: | ||||||||
Gibsons Accountants Ltd | ||||||||
Chartered Accountants | ||||||||
226 Oldham Road | ||||||||
Rochdale | ||||||||
Lancashire | ||||||||
OL11 2ER |
Akamas Properties Ltd | ||||||||
UNAUDITED FINANCIAL STATEMENTS | ||||||||
FOR THE YEAR ENDED 31/07/2024 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
Lancashire | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 9684187 | ||||||||
ACCOUNTANTS | ||||||||
Gibsons Accountants Ltd | ||||||||
Chartered Accountants | ||||||||
226 Oldham Road | ||||||||
Rochdale | ||||||||
Lancashire | ||||||||
OL11 2ER |
Akamas Properties Ltd | ||||||||
UNAUDITED FINANCIAL STATEMENTS | ||||||||
FOR THEYEARENDED31/07/2024 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
Akamas Properties Ltd | ||||||||
BALANCE SHEET AT | ||||||||||
2024 | 2023 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | ||||||||||
CURRENT ASSETS | ||||||||||
Debtors | 4 | |||||||||
Cash at bank and in hand | ||||||||||
12,498 | 3,877 | |||||||||
CREDITORS: Amounts falling due within one year | 5 | |||||||||
NET CURRENT ASSETS / (LIABILITIES) | (10,884) | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 6 | 284,200 | 576,775 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 7 | |||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 8 | |||||||||
Revaluation reserve | 1f,9 | 105,961 | 243,142 | |||||||
Profit and loss account | 13,046 | (9,241) | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
Akamas Properties Ltd | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/07/2024 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Investment Properties | ||||||||
Investment properties are accounted for in accordance with FRS102. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in the profit and loss. Investment properties are revalued using open market valuations. |
1c. Taxation | ||||||||
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. |
1d. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year. |
1e. Turnover | ||||||||
Turnover represents the amounts receivable in respect of property rentals. |
1f. Revaluation Reserve | ||||||||
Surpluses or deficits arising on the revaluation of individual fixed assets other than investment properties are credited or debited to a non-distributible reserve known as the revaluation reserve (see also note9). | ||||||||
Revaluation deficits in excess of the amount of prior revaluation surpluses on the same asset are charged to the profit and loss account. |
Akamas Properties Ltd | ||||||||
2. EMPLOYEES | ||||||
2024 | 2023 | |||||
No. | No. | |||||
Average number of employees | 1 | |||||
3. INVESTMENT PROPERTIES | ||||||||
Investment | ||||||||
Properties | Total | |||||||
£ | £ | |||||||
Fair value | ||||||||
At 01/08/2023 | 900,000 | 900,000 | ||||||
Disposals | (450,000) | (450,000) | ||||||
Revaluation | (28,000) | (28,000) | ||||||
At 31/07/2024 | 422,000 | 422,000 | ||||||
The investment properties assessment of open market value at 31st July 2024 by the directors was £422.000. The original cost of the properties is £291,185. | ||||||||
4. DEBTORS | 2024 | 2023 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Prepayments | - | 408 | ||||||
- | 408 | |||||||
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
UK corporation tax | 4,896 | - | ||||||
Directors current account - T Maxwell | - | 8,440 | ||||||
Directors current account - H Syddall | - | 5,000 | ||||||
Accruals | 1,440 | 1,321 | ||||||
6,336 | 14,761 | |||||||
Akamas Properties Ltd | ||||||||
6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Bank loans (secured) >1 year | 284,200 | 576,775 | ||||||
284,200 | 576,775 | |||||||
The bank loans are secured by a fixed charge over the investment properties. T C Maxwell and H Syddall have personal guarantees to the loan value. | ||||||||
7. PROVISIONS FOR LIABILITIES | 2024 | 2023 | ||||||
£ | £ | |||||||
Deferred taxation | 24,855 | 78,340 | ||||||
24,855 | 78,340 | |||||||
8. SHARE CAPITAL | 2024 | 2023 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
100 | 100 | |||||||
100 | 100 | |||||||
9. REVALUATION RESERVE | 2024 | 2023 | ||||||
£ | £ | |||||||
Revaluation reserve | 105,961 | 243,142 | ||||||
105,961 | 243,142 | |||||||
10. CONTROLLING PARTY | ||||||||
The company is controlled by the directors who own 100% of the issued share capital. | ||||||||