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Registered number: 9684187

Akamas Properties Ltd

FILLETED UNAUDITED FINANCIAL STATEMENTS
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
T C Maxwell
H Syddall
REGISTERED OFFICE
226 Oldham Road
Rochdale
Lancashire
OL11 2ER
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 Sheet3
Notes To The Accounts4
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 31/07/2024
20242023
Notes££
FIXED ASSETS
Tangible assets422,000900,000
CURRENT ASSETS
Debtors4-408
Cash at bank and in hand12,4983,469
12,4983,877
CREDITORS: Amounts falling due within one year56,33614,761
NET CURRENT ASSETS / (LIABILITIES)6,162(10,884)
TOTAL ASSETS LESS CURRENT LIABILITIES428,162889,116
CREDITORS: Amounts falling due after more than one year6284,200576,775
PROVISIONS FOR LIABILITIES AND CHARGES724,85578,340
NET ASSETS119,107234,001
CAPITAL AND RESERVES
Called up share capital8100100
Revaluation reserve1f,9105,961243,142
Profit and loss account13,046(9,241)
SHAREHOLDERS' FUNDS119,107234,001
For the year ending 31/07/2024 the company was entitled to exemption 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 directors acknowledge their 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.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 05/09/2024 and signed on their behalf by
.............................
T C Maxwell
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
20242023
No.No.
Average number of employees11
3. INVESTMENT PROPERTIES
Investment
PropertiesTotal
££
Fair value
At 01/08/2023900,000900,000
Disposals(450,000)(450,000)
Revaluation(28,000)(28,000)
At 31/07/2024422,000422,000
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 20242023
££
Amounts falling due within one year
Prepayments-408
-408
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
UK corporation tax4,896-
Directors current account - T Maxwell-8,440
Directors current account - H Syddall-5,000
Accruals1,4401,321
6,33614,761

Akamas Properties Ltd

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20242023
££
Bank loans (secured) >1 year284,200576,775
284,200576,775
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 20242023
££
Deferred taxation24,85578,340
24,85578,340
8. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
100 Ordinary shares of £1 each100100
100100
9. REVALUATION RESERVE 20242023
££
Revaluation reserve105,961243,142
105,961243,142
10. CONTROLLING PARTY
The company is controlled by the directors who own 100% of the issued share capital.