Company Registration No. 09727787 (England and Wales)
AK Transport (BG) Limited
Unaudited accounts
for the year ended 31 March 2024
AK Transport (BG) Limited
Unaudited accounts
Contents
AK Transport (BG) Limited
Company Information
for the year ended 31 March 2024
Director
Mr Aleksandar Kanurov
Company Number
09727787 (England and Wales)
Registered Office
30 ST. PAULS CLOSE
ROCHESTER
KENT
ME2 2QH
UNITED KINGDOM
Accountants
Prody Books Ltd
The Old Library
St Faith's Street
Maidstone
Kent
ME14 1LH
AK Transport (BG) Limited
Statement of financial position
as at 31 March 2024
Tangible assets
388,385
332,251
Cash at bank and in hand
19,914
33,292
Creditors: amounts falling due within one year
(284,721)
(247,975)
Net current liabilities
(109,169)
(49,880)
Total assets less current liabilities
279,216
282,371
Creditors: amounts falling due after more than one year
(343,571)
(284,168)
Provisions for liabilities
Deferred tax
(48,405)
(48,405)
Net liabilities
(112,760)
(50,202)
Called up share capital
100
100
Profit and loss account
(112,860)
(50,302)
Shareholders' funds
(112,760)
(50,202)
For the year ending 31 March 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 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 22 November 2024 and were signed on its behalf by
Mr Aleksandar Kanurov
Director
Company Registration No. 09727787
AK Transport (BG) Limited
Notes to the Accounts
for the year ended 31 March 2024
AK Transport (BG) Limited is a private company, limited by shares, registered in England and Wales, registration number 09727787. The registered office is 30 ST. PAULS CLOSE, ROCHESTER, KENT, ME2 2QH, UNITED KINGDOM.
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 represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
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:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
25 % reducing balance
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
AK Transport (BG) Limited
Notes to the Accounts
for the year ended 31 March 2024
Basic financial instruments are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method, unless the arrangements constitutes a financing transaction, where the transaction is measured at fair value.
Financial instruments classified as receivable/payable within one year are not amortised.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2023
450,439
54,093
2,747
5,247
512,526
Additions
127,861
-
-
499
128,360
At 31 March 2024
578,300
54,093
2,747
5,746
640,886
At 1 April 2023
164,067
10,967
2,145
3,096
180,275
Charge for the year
60,666
10,781
150
629
72,226
At 31 March 2024
224,733
21,748
2,295
3,725
252,501
At 31 March 2024
353,567
32,345
452
2,021
388,385
At 31 March 2023
286,372
43,126
602
2,151
332,251
Amounts falling due within one year
Trade debtors
63,880
81,714
Accrued income and prepayments
34,200
-
Other debtors
30,100
25,081
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
83,513
84,177
Obligations under finance leases and hire purchase contracts
81,337
97,257
Trade creditors
52,498
20,429
Taxes and social security
-
1,693
Other creditors
65,533
42,719
AK Transport (BG) Limited
Notes to the Accounts
for the year ended 31 March 2024
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
288,755
196,862
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan to director
9,930
30,100
9,930
30,100
9,930
30,100
9,930
30,100
10
Transactions with related parties
Dividends totaling £ NIL ( 2022 - £NIL ) were paid in the year in respect of shares held by the company's directors.
11
Average number of employees
During the year the average number of employees was 2 (2023: 2).