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REGISTERED NUMBER: 10001488 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2024

for

A&K Developments (Midlands) Limited

A&K Developments (Midlands) Limited (Registered number: 10001488)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


A&K Developments (Midlands) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: K S Dhami
Mrs A K Dhami





SECRETARY: Mrs A K Dhami





REGISTERED OFFICE: 2 Besthorpe Close
Oakwood
Derby
DE21 4RQ





REGISTERED NUMBER: 10001488 (England and Wales)





ACCOUNTANTS: NP & Associates Limited
2 Besthorpe Close
Oakwood
Derby
Derbyshire
DE21 4RQ

A&K Developments (Midlands) Limited (Registered number: 10001488)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 693,600 578,400

CURRENT ASSETS
Stocks 4,875 -
Cash at bank 29,097 33,191
33,972 33,191
CREDITORS
Amounts falling due within one year 5 256,092 267,508
NET CURRENT LIABILITIES (222,120 ) (234,317 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

471,480

344,083

CREDITORS
Amounts falling due after more than one year 6 (114,319 ) (117,919 )

PROVISIONS FOR LIABILITIES (46,224 ) (24,336 )
NET ASSETS 310,937 201,828

CAPITAL AND RESERVES
Called up share capital 100 100
Non-distributable reserves 197,060 103,748
Retained earnings 113,777 97,980
SHAREHOLDERS' FUNDS 310,937 201,828

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

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

The directors acknowledge their 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 February 2025 and were signed on its behalf by:




K S Dhami - Director


A&K Developments (Midlands) Limited (Registered number: 10001488)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

A&K Developments (Midlands) Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

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

A&K Developments (Midlands) Limited (Registered number: 10001488)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 578,400
Revaluations 115,200
At 31 March 2024 693,600
NET BOOK VALUE
At 31 March 2024 693,600
At 31 March 2023 578,400

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2017 2,763
Valuation in 2018 22,300
Valuation in 2019 27,820
Valuation in 2020 7,200
Valuation in 2021 5,600
Valuation in 2022 24,000
Valuation in 2023 38,400
Valuation in 2024 115,200
Cost 450,317
693,600

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 450,317 450,317

Investment property was valued on at a fair value basis on 31 March 2023 by the directors. .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,600 3,600
Amounts owed to participating interests 122,422 136,422
Taxation and social security 3,445 4,211
Other creditors 126,625 123,275
256,092 267,508

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 7,200 10,800
Other creditors 107,119 107,119
114,319 117,919

A&K Developments (Midlands) Limited (Registered number: 10001488)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans 107,119 107,119

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 107,119 107,119

Some of the investment properties are secured by mortgages dated 15 October 2016 and 20 August 2018.