Registered number
03471757
Achkey Limited
Filleted Accounts
31 May 2024
Achkey Limited
Registered number: 03471757
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 292,104 301,983
Investments 4 95,338 32,809
387,442 334,792
Current assets
Debtors 5 293,331 428,561
Cash at bank and in hand 5,893 7,273
299,224 435,834
Creditors: amounts falling due within one year 6 (54,269) (175,343)
Net current assets 244,955 260,491
Total assets less current liabilities 632,397 595,283
Creditors: amounts falling due after more than one year 7 (91,548) (120,725)
Net assets 540,849 474,558
Capital and reserves
Called up share capital 127,635 65,106
Profit and loss account 413,214 409,452
Shareholders' funds 540,849 474,558
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J.A. Edney
Director
Approved by the board on 4 February 2025
Achkey Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
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).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers, including rents receivable and administration charges derived from subsidiary and other undertakings.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 2% on cost
Computer equipment 33⅓% on cost
Fixtures and fittings 20% - 33⅓% on cost
Investments
Investments in subsidiaries are measured at cost less any accumulated impairment losses.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Group accounts
The company is subject to the small companies regime and is therefore not required to prepare group accounts.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 7 7
3 Tangible fixed assets
Land and buildings Computer equipment Fixtures, fittings and equipment Total
£ £ £ £
Cost
At 1 June 2023 493,996 8,448 115,104 617,548
At 31 May 2024 493,996 8,448 115,104 617,548
Depreciation
At 1 June 2023 192,020 8,441 115,104 315,565
Charge for the year 9,879 - - 9,879
At 31 May 2024 201,899 8,441 115,104 325,444
Net book value
At 31 May 2024 292,097 7 - 292,104
At 31 May 2023 301,976 7 - 301,983
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 June 2023 32,809
Additions 62,529
At 31 May 2024 95,338
5 Debtors 2024 2023
£ £
Amounts owed by group undertakings 293,009 428,240
Other debtors 322 321
293,331 428,561
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans 28,676 28,624
Trade creditors 524 1,023
Corporation tax 3,218 3,469
Other taxes and social security costs 8,148 27,008
Other creditors 13,703 115,219
54,269 175,343
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 91,548 120,725
8 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 100,224 119,349
The bank loans are secured by a mortgage debenture over the company's assets and by charges over the company's properties.
9 Contingent liabilities
The company is party to a group VAT registration rendering it jointly and severally liable for any unpaid VAT liabilities of its fellow VAT group members.

The company has given a corporate guarantee to one of its bankers in relation to its fellow group companies.

The company's properties have been used as security for a legal charge in connection with a bank loan taken out by one of its subsidiary companies.
10 Other information
Achkey Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 Bonhill Street
London
EC2A 4DJ
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