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REGISTERED NUMBER: 05728393 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31st March 2024

for

Ak Olive Garden Ltd

Ak Olive Garden Ltd (Registered number: 05728393)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Ak Olive Garden Ltd

Company Information
for the Year Ended 31st March 2024







DIRECTOR: A K K Roshani





SECRETARY: A K K Roshani





REGISTERED OFFICE: 272 Regents Park Road
Finchley
London
N3 3HN





REGISTERED NUMBER: 05728393 (England and Wales)





ACCOUNTANTS: Spencer Hyde Limited
272 Regents Park Road
London
N3 3HN

Ak Olive Garden Ltd (Registered number: 05728393)

Statement of Financial Position
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 25,000 37,500
Tangible assets 5 558,632 403,198
583,632 440,698

CURRENT ASSETS
Stocks 6,000 5,500
Debtors 6 314,981 226,538
Cash at bank and in hand 23,652 149,612
344,633 381,650
CREDITORS
Amounts falling due within one year 7 118,246 132,374
NET CURRENT ASSETS 226,387 249,276
TOTAL ASSETS LESS CURRENT
LIABILITIES

810,019

689,974

PROVISIONS FOR LIABILITIES 7,915 7,915
NET ASSETS 802,104 682,059

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Share premium 137,200 137,200
Retained earnings 644,904 524,859
SHAREHOLDERS' FUNDS 802,104 682,059

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

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

The director acknowledges his 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.

Ak Olive Garden Ltd (Registered number: 05728393)

Statement of Financial Position - continued
31st March 2024


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 director and authorised for issue on 30th December 2024 and were signed by:





A K K Roshani - Director


Ak Olive Garden Ltd (Registered number: 05728393)

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

1. STATUTORY INFORMATION

Ak Olive Garden Ltd 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.

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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 1% on cost
Improvements to property - 25% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.


Ak Olive Garden Ltd (Registered number: 05728393)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 17 (2023 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 250,000
AMORTISATION
At 1st April 2023 212,500
Charge for year 12,500
At 31st March 2024 225,000
NET BOOK VALUE
At 31st March 2024 25,000
At 31st March 2023 37,500

Ak Olive Garden Ltd (Registered number: 05728393)

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

5. TANGIBLE FIXED ASSETS
Improvements
Long to Plant and
leasehold property machinery
£    £    £   
COST
At 1st April 2023 374,725 67,576 68,999
Additions 144,381 - 5,661
At 31st March 2024 519,106 67,576 74,660
DEPRECIATION
At 1st April 2023 3,747 67,015 53,776
Charge for year 5,200 140 4,557
At 31st March 2024 8,947 67,155 58,333
NET BOOK VALUE
At 31st March 2024 510,159 421 16,327
At 31st March 2023 370,978 561 15,223

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st April 2023 100,783 15,939 2,050 630,072
Additions - 25,863 - 175,905
At 31st March 2024 100,783 41,802 2,050 805,977
DEPRECIATION
At 1st April 2023 87,378 12,908 2,050 226,874
Charge for year 3,351 7,223 - 20,471
At 31st March 2024 90,729 20,131 2,050 247,345
NET BOOK VALUE
At 31st March 2024 10,054 21,671 - 558,632
At 31st March 2023 13,405 3,031 - 403,198

Ak Olive Garden Ltd (Registered number: 05728393)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 11,178 10,948
Amounts owed by associates 288,000 183,000
Other debtors - 1,595
Directors' current accounts - 17,811
Prepayments and accrued income 15,803 13,184
314,981 226,538

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 24,221 23,980
Tax 38,782 56,393
Social security and other taxes 772 2,100
Wages Control - 1,473
Pension fund 74 133
VAT 14,157 34,123
Other creditors 2,655 6,464
Directors' current accounts 29,292 -
Accruals and deferred income 8,293 7,708
118,246 132,374

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2024 and 31st March 2023:

2024 2023
£    £   
A K K Roshani
Balance outstanding at start of year 17,811 -
Amounts advanced - 17,811
Amounts repaid (17,811 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 17,811