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Registered number: 07140800
A K P Tax Advisory Services Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Coopers&Co
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07140800
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 134,444 -
Tangible Assets 5 1,795 2,759
Investments 6 50 50
136,289 2,809
CURRENT ASSETS
Debtors 7 172,731 334,490
Cash at bank and in hand 14,601 17,369
187,332 351,859
Creditors: Amounts Falling Due Within One Year 8 (73,515 ) (134,464 )
NET CURRENT ASSETS (LIABILITIES) 113,817 217,395
TOTAL ASSETS LESS CURRENT LIABILITIES 250,106 220,204
Creditors: Amounts Falling Due After More Than One Year 9 (12,839 ) (19,672 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (524 )
NET ASSETS 237,267 200,008
CAPITAL AND RESERVES
Called up share capital 10 130 130
Profit and Loss Account 237,137 199,878
SHAREHOLDERS' FUNDS 237,267 200,008
Page 1
Page 2
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 member has 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.
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.
On behalf of the board
Mr Kupesh Patel
Director
28th November 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
A K P Tax Advisory Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07140800 . The registered office is Thistle Down Barn Holcot Lane, Sywell, Northampton, NN6 0BG.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 33% straight line
2.5. 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 year was: NIL (2023: )
- -
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 10,000
Additions 134,444
As at 31 March 2024 144,444
Amortisation
As at 1 April 2023 10,000
As at 31 March 2024 10,000
Net Book Value
As at 31 March 2024 134,444
As at 1 April 2023 -
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2023 13,773
Additions 674
As at 31 March 2024 14,447
Depreciation
As at 1 April 2023 11,014
Provided during the period 1,638
As at 31 March 2024 12,652
Net Book Value
As at 31 March 2024 1,795
As at 1 April 2023 2,759
6. Investments
Joint Ventures
£
Cost
As at 1 April 2023 50
As at 31 March 2024 50
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 50
As at 1 April 2023 50
Page 4
Page 5
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 20,089 64,729
Other debtors 152,642 269,761
172,731 334,490
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2 4,426
Amounts owed to participating interests (34,950 ) (34,950 )
Other creditors 67,808 123,350
Taxation and social security 40,655 41,638
73,515 134,464
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 12,839 19,672
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 130 130
Page 5