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AKSUL LTD

Registered Number
14044976
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

AKSUL LTD
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

I Aksul

Registered Address

179 Park Lane
Poynton
Stockport
SK12 1RH

Registered Number

14044976 (England and Wales)
AKSUL LTD
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets399,000111,000
Tangible assets419,38926,714
118,389137,714
Current assets
Cash at bank and on hand13,7966,876
13,7966,876
Creditors amounts falling due within one year5(155,159)(144,018)
Net current assets (liabilities)(141,363)(137,142)
Total assets less current liabilities(22,974)572
Provisions for liabilities6(3,684)(5,076)
Net assets(26,658)(4,504)
Capital and reserves
Called up share capital100100
Profit and loss account(26,758)(4,604)
Shareholders' funds(26,658)(4,504)
The financial statements were approved and authorised for issue by the Director on 6 November 2024, and are signed on its behalf by:
I Aksul
Director
Registered Company No. 14044976
AKSUL LTD
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The company meets day to day working capital requirements from director related entities or the director. The director has undertaken an assessment of whether the company was a going concern when the accounts were prepared, considering all available information about the future, covering a period of 12 months from the date of approval of the accounts. Funds to meet the cashflow requirements are in place and the director does not anticipate any material overspend. The director is therefore satisfied that the going concern assumption remains appropriate.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.
Turnover policy
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.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
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 payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current 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 profit and loss account 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
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery4
Fixtures and fittings4
2.Average number of employees

20242023
Average number of employees during the year1912
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 May 23120,000120,000
At 30 April 24120,000120,000
Amortisation and impairment
At 01 May 239,0009,000
Charge for year12,00012,000
At 30 April 2421,00021,000
Net book value
At 30 April 2499,00099,000
At 30 April 23111,000111,000
4.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Total

£££
Cost or valuation
At 01 May 232,62030,00032,620
Additions901-901
At 30 April 243,52130,00033,521
Depreciation and impairment
At 01 May 232815,6255,906
Charge for year7267,5008,226
At 30 April 241,00713,12514,132
Net book value
At 30 April 242,51416,87519,389
At 30 April 232,33924,37526,714
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables8231,420
Taxation and social security8,2179,761
Other creditors146,119132,837
Total155,159144,018
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.
6.Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of going the amount of the obligation. Provisions are charged as an expense to the profit and loss account in the year that the company becomes aware of the obligation and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet.

2024

2023

££
Net deferred tax liability (asset)3,6845,076
Total3,6845,076