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Registration number: 07448107

AHK Leisure Limited

trading as Net Solutions

Unaudited Financial Statements

for the Year Ended 30 November 2024

 

AHK Leisure Limited

trading as Net Solutions

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

AHK Leisure Limited

trading as Net Solutions

(Registration number: 07448107)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

6,206

8,278

Current assets

 

Debtors

5

69

213

Cash at bank and in hand

 

4,275

4,219

 

4,344

4,432

Creditors: Amounts falling due within one year

6

(7,746)

(9,704)

Net current liabilities

 

(3,402)

(5,272)

Total assets less current liabilities

 

2,804

3,006

Provisions for liabilities

(1,179)

(1,573)

Net assets

 

1,625

1,433

Capital and reserves

 

Called up share capital

200

200

Retained earnings

1,425

1,233

Shareholders' funds

 

1,625

1,433

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 December 2024
 

.........................................
Mr Antony Kingsbury
Director

 

AHK Leisure Limited

trading as Net Solutions

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 1 The Cam Centre
Wilbury Way
Hitchin
Hertfordshire
SG4 0TW
England

The principal place of business is:
34 Jackdaw Close
Stevenage
Hertfordshire
SG2 9DB

These financial statements were authorised for issue by the director on 20 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity.

 

AHK Leisure Limited

trading as Net Solutions

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Going concern

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probably that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% Reducing Balance

Furniture, fittings, tools and equipment

25% Straight Line

 

AHK Leisure Limited

trading as Net Solutions

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

AHK Leisure Limited

trading as Net Solutions

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2023

18,500

1,900

20,400

At 30 November 2024

18,500

1,900

20,400

Depreciation

At 1 December 2023

10,858

1,264

12,122

Charge for the year

1,910

162

2,072

At 30 November 2024

12,768

1,426

14,194

Carrying amount

At 30 November 2024

5,732

474

6,206

At 30 November 2023

7,642

636

8,278

5

Debtors

Current

2024
£

2023
£

Prepayments

69

213

 

69

213

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

1,335

1,268

Accruals and deferred income

853

750

Other creditors

5,558

7,686

7,746

9,704

7

Share capital

Allotted, called up and fully paid shares

 

AHK Leisure Limited

trading as Net Solutions

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

 

2024

2023

 

No.

£

No.

£

Ordinary B shares of £1 each

100

100

100

100

Ordinary shares of £1 each

100

100

100

100

 

200

200

200

200

All share classes rank pari-passu in the event of a sale, winding up or liquidation.

8

Dividends

2024

2023

£

£

Interim dividend of £10 (2023 - £10) per ordinary share

1,000

1,000

 

 

Dividends were spilt equally between both share classes, £100 Ordinary shares and £100 Ordinary B shares.

9

Related party transactions

Transactions with the director

At the balance sheet date the company owed £5,558 (2023: £7,338) to Mr A Kingsbury the director. There are no terms of repayment or interest charged on this loan.

10

Ultimate controlling party

The ultimate controlling party is Mr Anthony Kingsbury, by virtue of his shareholding.