Acorah Software Products - Accounts Production 15.0.600 false true false 11 January 2023 31 January 2024 31 January 2024 14585391 Dr Surjit Kailey Mr Manjit Kailey iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14585391 2023-01-10 14585391 2024-01-31 14585391 2023-01-11 2024-01-31 14585391 frs-core:ShareCapital 2024-01-31 14585391 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 14585391 frs-bus:PrivateLimitedCompanyLtd 2023-01-11 2024-01-31 14585391 frs-bus:AbridgedAccounts 2023-01-11 2024-01-31 14585391 frs-bus:SmallEntities 2023-01-11 2024-01-31 14585391 frs-bus:AuditExemptWithAccountantsReport 2023-01-11 2024-01-31 14585391 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-11 2024-01-31 14585391 frs-bus:OrdinaryShareClass1 2023-01-11 2024-01-31 14585391 frs-bus:OrdinaryShareClass1 2024-01-31 14585391 frs-bus:Director1 2023-01-11 2024-01-31 14585391 frs-bus:Director2 2023-01-11 2024-01-31 14585391 frs-countries:EnglandWales 2023-01-11 2024-01-31
Registered number: 14585391
Five K's Ventures Ltd
ABRIDGED Financial Statements
For the Period 11 January 2023 to 31 January 2024
C K R
Chartered Certified Accountants
C K R House
70 East Hill
Dartford
Kent
DA1 1RZ
Contents
Page
Accountants' Report 1
Abridged Balance Sheet 2—3
Notes to the Abridged Financial Statements 4—5
Page 1
Accountants' Report
Report to the directors on the preparation of the unaudited statutory accounts of Five K's Ventures Ltd for the period 11 January 2023 to 31 January 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Five K's Ventures Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Five K's Ventures Ltd , as a body, in accordance with the terms of our engagement letter dated 11 January 2023. Our work has been undertaken solely to prepare for your approval the accounts of Five K's Ventures Ltd and state those matters that we have agreed to state to the directors of Five K's Ventures Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Five K's Ventures Ltd and its directors as a body for our work or for this report.
It is your duty to ensure that Five K's Ventures Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Five K's Ventures Ltd . You consider that Five K's Ventures Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Five K's Ventures Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
9 October 2024
C K R
Chartered Certified Accountants
C K R House
70 East Hill
Dartford
Kent
DA1 1RZ
Page 1
Page 2
Abridged Balance Sheet
Registered number: 14585391
31 January 2024
Notes £ £
FIXED ASSETS
Investment Properties 4 635,906
635,906
CURRENT ASSETS
Cash at bank and in hand 21,571
21,571
Creditors: Amounts Falling Due Within One Year (642,084 )
NET CURRENT ASSETS (LIABILITIES) (620,513 )
TOTAL ASSETS LESS CURRENT LIABILITIES 15,393
NET ASSETS 15,393
CAPITAL AND RESERVES
Called up share capital 5 150
Profit and Loss Account 15,243
SHAREHOLDERS' FUNDS 15,393
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For the period ending 31 January 2024 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 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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 January 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Dr Surjit Kailey
Director
9 October 2024
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Abridged Financial Statements
1. General Information
Five K's Ventures Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14585391 . The registered office is CKR House, 70 East Hill, Dartford, Kent, DA1 1RZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Investment Properties
All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. 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 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. 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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the period was: NIL
-
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4. Investment Property
31 January 2024
£
Fair Value
As at 11 January 2023 -
Additions 635,906
As at 31 January 2024 635,906
5. Share Capital
31 January 2024
Allotted, called up and fully paid £
150 Ordinary Shares of £ 1.00 each 150
Shares issued during the period: £
150 Ordinary Shares of £ 1.00 each 150
Page 5