ARK GROUP INTERNATIONAL LTD

Company Registration Number:
13542595 (England and Wales)

Unaudited statutory accounts for the year ended 31 August 2024

Period of accounts

Start date: 1 September 2023

End date: 31 August 2024

ARK GROUP INTERNATIONAL LTD

Contents of the Financial Statements

for the Period Ended 31 August 2024

Profit and loss
Balance sheet
Additional notes
Balance sheet notes

ARK GROUP INTERNATIONAL LTD

Profit And Loss Account

for the Period Ended 31 August 2024

2024 2023


£

£
Turnover: 101,649 56,337
Cost of sales: ( 10,862 ) ( 11,720 )
Gross profit(or loss): 90,787 44,617
Administrative expenses: ( 73,565 ) ( 43,109 )
Operating profit(or loss): 17,222 1,508
Interest payable and similar charges: ( 1,312 )
Profit(or loss) before tax: 15,910 1,508
Tax: ( 2,815 ) ( 429 )
Profit(or loss) for the financial year: 13,095 1,079

ARK GROUP INTERNATIONAL LTD

Balance sheet

As at 31 August 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 2,057 847
Total fixed assets: 2,057 847
Current assets
Debtors: 4 35,584 15,034
Cash at bank and in hand: 12,789 13,246
Investments: 5 964
Total current assets: 49,337 28,280
Creditors: amounts falling due within one year: 6 ( 5,195 ) ( 9,927 )
Net current assets (liabilities): 44,142 18,353
Total assets less current liabilities: 46,199 19,200
Creditors: amounts falling due after more than one year: 7 ( 8,624 )
Accruals and deferred income: ( 2,651 )
Total net assets (liabilities): 34,924 19,200
Capital and reserves
Called up share capital: 12,500 12,500
Profit and loss account: 22,424 6,700
Total Shareholders' funds: 34,924 19,200

The notes form part of these financial statements

ARK GROUP INTERNATIONAL LTD

Balance sheet statements

For the year ending 31 August 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.

This report was approved by the board of directors on 31 December 2024
and signed on behalf of the board by:

Name: Joevas Fredua-Agyeman Vasudev Asare
Status: Director

The notes form part of these financial statements

ARK GROUP INTERNATIONAL LTD

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    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. 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.

    Tangible fixed assets depreciation policy

    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:

ARK GROUP INTERNATIONAL LTD

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 1 1

ARK GROUP INTERNATIONAL LTD

Notes to the Financial Statements

for the Period Ended 31 August 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 September 2023 0 847 847
Additions 53 1,566 1,619
Disposals
Revaluations
Transfers
At 31 August 2024 53 2,413 2,466
Depreciation
At 1 September 2023 0 0 0
Charge for year 13 396 409
On disposals
Other adjustments
At 31 August 2024 13 396 409
Net book value
At 31 August 2024 40 2,017 2,057
At 31 August 2023 0 847 847

ARK GROUP INTERNATIONAL LTD

Notes to the Financial Statements

for the Period Ended 31 August 2024

4. Debtors

2024 2023
£ £
Trade debtors 35,584 15,034
Total 35,584 15,034

ARK GROUP INTERNATIONAL LTD

Notes to the Financial Statements

for the Period Ended 31 August 2024

5. Current assets investments note

Short term investment in gold initially measured at fair value. Subsequently, at the end of each reporting period, need to remeasure the gold at fair value and account for any changes in profit or loss.

ARK GROUP INTERNATIONAL LTD

Notes to the Financial Statements

for the Period Ended 31 August 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 435 975
Taxation and social security 210 883
Other creditors 4,550 8,069
Total 5,195 9,927

ARK GROUP INTERNATIONAL LTD

Notes to the Financial Statements

for the Period Ended 31 August 2024

7. Creditors: amounts falling due after more than one year note

2024
£
Bank loans and overdrafts 8,624
Total 8,624

ARK GROUP INTERNATIONAL LTD

Notes to the Financial Statements

for the Period Ended 31 August 2024

8. Financial Commitments

Bank Loans The company holds a loan with Funding Circle carrying an interest rate of 21.90% p.a. The term of the loan is 48 months.

ARK GROUP INTERNATIONAL LTD

Notes to the Financial Statements

for the Period Ended 31 August 2024

9. Loans to directors

Name of director receiving advance or credit:
Description of the transaction:
Loan
£
Balance at 31 August 2023
Advances or credits made: 6,244
Advances or credits repaid: 5,794
Balance at 31 August 2024 450