Company registration number 13255302 (England and Wales)
AKELA FUTURE LIVING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
AKELA FUTURE LIVING LTD
COMPANY INFORMATION
Director
Mr M Carrington
Company number
13255302
Registered office
Office 5
The Old Bus Garage
Harborne Lane
Birmingham
B29 6SN
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Starling Bank Limited
5th Floor
London Fruit and Wool Exchange
1 Duval Square
London
E1 6PW
AKELA FUTURE LIVING LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
AKELA FUTURE LIVING LTD
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF AKELA FUTURE LIVING LTD FOR THE PERIOD ENDED 30 APRIL 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Akela Future Living Ltd for the period ended 30 April 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Akela Future Living Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Akela Future Living Ltd and state those matters that we have agreed to state to the board of directors of Akela Future Living Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Akela Future Living Ltd and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Akela Future Living Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Akela Future Living Ltd. You consider that Akela Future Living Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Akela Future Living Ltd. 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 statutory financial statements.

Ormerod Rutter Limited
17 June 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
AKELA FUTURE LIVING LTD
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 2 -
30 April 2024
31 March 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,844
28,525
Current assets
Debtors
4
60,883
84,700
Cash at bank and in hand
163,330
10,757
224,213
95,457
Creditors: amounts falling due within one year
5
(144,488)
(116,397)
Net current assets/(liabilities)
79,725
(20,940)
Total assets less current liabilities
81,569
7,585
Creditors: amounts falling due after more than one year
6
(45,648)
-
0
Provisions for liabilities
8
(434)
(5,420)
Net assets
35,487
2,165
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
35,387
2,065
Total equity
35,487
2,165

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

AKELA FUTURE LIVING LTD
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024
30 April 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 17 June 2024 and are signed on its behalf by:
Mr M Carrington
Director
Company registration number 13255302 (England and Wales)
AKELA FUTURE LIVING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024
- 4 -
1
Accounting policies
Company information

Akela Future Living Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Office 5, The Old Bus Garage, Harborne Lane, Birmingham, B29 6SN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
33% on cost
Motor vehicles
15% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

AKELA FUTURE LIVING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
2023
Number
Number
Total
3
2
AKELA FUTURE LIVING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2024
- 6 -
3
Tangible fixed assets
Computer equipment
Motor vehicles
Total
£
£
£
Cost
At 1 April 2023
1,199
32,621
33,820
Additions
2,173
-
0
2,173
Disposals
-
0
(32,621)
(32,621)
At 30 April 2024
3,372
-
0
3,372
Depreciation and impairment
At 1 April 2023
402
4,893
5,295
Depreciation charged in the period
1,126
4,159
5,285
Eliminated in respect of disposals
-
0
(9,052)
(9,052)
At 30 April 2024
1,528
-
0
1,528
Carrying amount
At 30 April 2024
1,844
-
0
1,844
At 31 March 2023
797
27,728
28,525
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
50,054
18,296
Other debtors
10,829
66,404
60,883
84,700
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
8,723
-
0
Trade creditors
12
-
0
Taxation and social security
36,627
2,513
Other creditors
99,126
113,884
144,488
116,397
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
45,648
-
0
AKELA FUTURE LIVING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2024
- 7 -
7
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Bank loans
54,371
-
Bank loans are secured by way of a fixed and floating charge over all assets of the company.
8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
434
5,420
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of 1p each
5,000
5,000
50
50
Ordinary B of 1p each
5,000
5,000
50
50
10,000
10,000
100
100
10
Ultimate controlling party

There is no ultimate controlling party.

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