Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31AKT UK&I Limited (the "Company") is a private company limited by shares incorporated in England and Wages. The address of its registered office and principal place of business is Tower Bridge House, St Katharine's Way, London, United Kingdom, E1W 1DD. The company number is 10516746. The principal activity of the Company is that of corporate consulting, business consulting, project initiation services and specialising in technology systems. The functional currency of the Company is Pounds Sterling as this is the currency of the primary economic environment in which the Company operates. Monetary amounts in these financial statements are rounded to the nearest £. Information technology consultancy activitiesTangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.52023-01-01false5truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10516746 2023-01-01 2023-12-31 10516746 2022-01-01 2022-12-31 10516746 2023-12-31 10516746 2022-12-31 10516746 c:Director3 2023-01-01 2023-12-31 10516746 d:OfficeEquipment 2023-01-01 2023-12-31 10516746 d:OfficeEquipment 2023-12-31 10516746 d:OfficeEquipment 2022-12-31 10516746 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10516746 d:CurrentFinancialInstruments 2023-12-31 10516746 d:CurrentFinancialInstruments 2022-12-31 10516746 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10516746 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10516746 d:ShareCapital 2023-12-31 10516746 d:ShareCapital 2022-12-31 10516746 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 10516746 d:RetainedEarningsAccumulatedLosses 2023-12-31 10516746 d:RetainedEarningsAccumulatedLosses 2022-12-31 10516746 c:OrdinaryShareClass1 2023-01-01 2023-12-31 10516746 c:OrdinaryShareClass1 2023-12-31 10516746 c:OrdinaryShareClass1 2022-12-31 10516746 c:FRS102 2023-01-01 2023-12-31 10516746 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10516746 c:FullAccounts 2023-01-01 2023-12-31 10516746 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10516746









AKT UK&I LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
AKT UK&I LIMITED
REGISTERED NUMBER: 10516746

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
746
1,639

  
746
1,639

Current assets
  

Debtors: amounts falling due within one year
 5 
786,110
902,278

Cash at bank and in hand
 6 
88,931
372,167

  
875,041
1,274,445

Creditors: amounts falling due within one year
 7 
(818,167)
(1,234,589)

Net current assets
  
 
 
56,874
 
 
39,856

Total assets less current liabilities
  
57,620
41,495

  

Net assets
  
57,620
41,495


Capital and reserves
  

Called up share capital 
 8 
1,200
1,200

Profit and loss account
 9 
56,420
40,295

  
57,620
41,495


Page 1

 
AKT UK&I LIMITED
REGISTERED NUMBER: 10516746
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Y Ventura
Director

Date: 4 December 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
AKT UK&I LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

AKT UK&I Limited (the "Company") is a private company limited by shares incorporated in England and Wages. The address of its registered office and principal place of business is Tower Bridge House, St Katharine's Way, London, United Kingdom, E1W 1DD. The company number is 10516746.
The principal activity of the Company is that of corporate consulting, business consulting, project initiation services and specialising in technology systems.
The functional currency of the Company is Pounds Sterling as this is the currency of the primary economic environment in which the Company operates. Monetary amounts in these financial statements are rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

As at the balance sheet date, the company had net liabilities and negative reserves. This was predominantly due to the intercompany balance owed to AKT Solutions Ltd. AKT Solutions Ltd have confirmed that the balance will not be recalled until the company has sufficient funds to repay. On that basis, these financial statements have been prepared on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 3

 
AKT UK&I LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.3
Foreign currency translation (continued)

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
AKT UK&I LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Office equipment
-
3
Years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
AKT UK&I LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Statement of Comprehensive Income if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Page 6

 
AKT UK&I LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.12
Financial instruments (continued)

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 5).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 January 2023
2,676



At 31 December 2023

2,676



Depreciation


At 1 January 2023
1,038


Charge for the year on owned assets
892



At 31 December 2023

1,930



Net book value



At 31 December 2023
746



At 31 December 2022
1,639

Page 7

 
AKT UK&I LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
778,490
885,971

Amounts owed by group undertakings
-
14,409

Other debtors
1,200
1,200

Prepayments and accrued income
6,420
698

786,110
902,278



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
88,931
372,167



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
20,599
35,727

Amounts owed to group undertakings
719,581
1,033,266

Corporation tax
4,834
4,497

Other taxation and social security
38,593
67,207

Other creditors
16,205
15,234

Accruals and deferred income
18,355
78,658

818,167
1,234,589


Amounts owed to group undertakings are unsecured, interest free and repayable on demand.


8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,200 (2022 - 1,200) Ordinary shares of £1.00 each
1,200
1,200


Page 8

 
AKT UK&I LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Reserves

Profit and loss account

The Profit and loss accounts represents the cumulative profit and losses of the Company, less the payment of dividends. 


10.


Related party transactions

AKT Solutions Limited is a company in which E Berstein, D Gurevich and Y Ventura are shareholders.
 
The company recognised intercompany sales of £nil in the current year (2022: £13,819). 
At 31 December 2023 the company owed AKT Solutions Limited £2,271 (2022: £198,563). At 31 December 2023 the accrued expenses balance to AKT Solutions Limited is £699,628 (2022: £819,406).
At 31 December 2023 the company owed My Digital SAP Limited, A company under common ownership,  £17,682 (2022: £15,590). 

 
Page 9