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REGISTERED NUMBER: 11536103 (England and Wales)















REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

A K AUTO SALES LTD

A K AUTO SALES LTD (REGISTERED NUMBER: 11536103)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Report of the Director 2

Report of the Accountants 3

Income Statement 4

Balance Sheet 5

Notes to the Financial Statements 7


A K AUTO SALES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTOR: Mr. P A Kalp





REGISTERED OFFICE: 11 Horndon Green
Romford
Uk
United Kingdom
RM5 3HH





REGISTERED NUMBER: 11536103 (England and Wales)





ACCOUNTANTS: Fusion Accountancy Limited
Marlborough House
298 Regents Park Road
London
N3 2SZ

A K AUTO SALES LTD (REGISTERED NUMBER: 11536103)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 JULY 2024

The director presents his report with the financial statements of the company for the year ended 31 July 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of sale of used cars and repair & maintenance of motor vehicles.

DIRECTOR
Mr. P A Kalp held office during the whole of the period from 1 August 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr. P A Kalp - Director


7 January 2025

A K AUTO SALES LTD

REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF
A K AUTO SALES LTD


In accordance with the engagement letter, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.

This report is made to the director in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the director the financial statements that we have been engaged to compile, to report to the director that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's director for our work or for this report.

You have acknowledged on the balance sheet as at year ended 31 July 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. 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.






Fusion Accountancy Limited
Marlborough House
298 Regents Park Road
London
N3 2SZ


7 January 2025

A K AUTO SALES LTD (REGISTERED NUMBER: 11536103)

INCOME STATEMENT
FOR THE YEAR ENDED 31 JULY 2024

31.7.24 31.7.23
Notes £    £   

TURNOVER 258,874 266,933

Cost of sales 151,655 180,295
GROSS PROFIT 107,219 86,638

Administrative expenses 118,854 87,831
OPERATING LOSS 4 (11,635 ) (1,193 )

Interest receivable and similar income 68 26
(11,567 ) (1,167 )

Interest payable and similar expenses 779 783
LOSS BEFORE TAXATION (12,346 ) (1,950 )

Tax on loss - -
LOSS FOR THE FINANCIAL YEAR (12,346 ) (1,950 )

A K AUTO SALES LTD (REGISTERED NUMBER: 11536103)

BALANCE SHEET
31 JULY 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 11,102 12,991

CURRENT ASSETS
Stocks 6 12,500 35,000
Debtors 7 7,688 4,222
Cash at bank 500 1,382
20,688 40,604
CREDITORS
Amounts falling due within one year 8 19,582 16,479
NET CURRENT ASSETS 1,106 24,125
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,208

37,116

CREDITORS
Amounts falling due after more than one
year

9

64,532

77,094
NET LIABILITIES (52,324 ) (39,978 )

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 11 (52,325 ) (39,979 )
SHAREHOLDERS' FUNDS (52,324 ) (39,978 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

A K AUTO SALES LTD (REGISTERED NUMBER: 11536103)

BALANCE SHEET - continued
31 JULY 2024


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

The financial statements were approved by the director and authorised for issue on 7 January 2025 and were signed by:





Mr. P A Kalp - Director


A K AUTO SALES LTD (REGISTERED NUMBER: 11536103)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

A K Auto Sales Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Going concern disclosure
The directors have formed a judgement at the time of approving the Annual Financial Statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason the directors have adopted the going concern basis in preparing the accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. OPERATING LOSS

The operating loss is stated after charging:

31.7.24 31.7.23
£    £   
Depreciation - owned assets 3,389 565

A K AUTO SALES LTD (REGISTERED NUMBER: 11536103)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

5. TANGIBLE FIXED ASSETS
Office
Equipment
£   
COST
At 1 August 2023 13,556
Additions 1,500
At 31 July 2024 15,056
DEPRECIATION
At 1 August 2023 565
Charge for year 3,389
At 31 July 2024 3,954
NET BOOK VALUE
At 31 July 2024 11,102
At 31 July 2023 12,991

6. STOCKS
31.7.24 31.7.23
£    £   
Finished goods 12,500 35,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 7,688 4,222

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 12,505 9,716
Trade creditors - 241
VAT 6,946 6,067
Other creditors 131 455
19,582 16,479

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans - 2-5 years 11,984 18,623
Other creditors 34,000 34,000
Directors' loan accounts 18,548 24,471
64,532 77,094

A K AUTO SALES LTD (REGISTERED NUMBER: 11536103)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
1 Ordinary shares 1 1 1

11. RESERVES
Retained
earnings
£   

At 1 August 2023 (39,979 )
Deficit for the year (12,346 )
At 31 July 2024 (52,325 )

12. RELATED PARTY DISCLOSURES

At the balance sheet date, included within creditors due after one year, is an amount of £18,548 (2023 -
£24,471) owed to the director P A Kalp. This loan is interest free, of no fixed term and repayable on demand.

The controlling party is the director by virtue of his shareholding.

13. TAXATION

The company has carried forward losses of £63,913 (2023: £53,522) to offset against future taxable profits.