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REGISTERED NUMBER: 08539136 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Akaal Property Ltd

Akaal Property Ltd (Registered number: 08539136)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Akaal Property Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTORS: B S Sandhu
B S Sandhu
L Sandhu





REGISTERED OFFICE: 1524 London Road
London
SW16 4EU





REGISTERED NUMBER: 08539136 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

Akaal Property Ltd (Registered number: 08539136)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 3,205 4,405
Investment property 5 6,098,598 5,890,295
6,101,803 5,894,700

CURRENT ASSETS
Debtors 6 59,063 6,298
Cash at bank 58,109 8,554
117,172 14,852
CREDITORS
Amounts falling due within one year 7 (1,810,310 ) (1,836,899 )
NET CURRENT LIABILITIES (1,693,138 ) (1,822,047 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,408,665

4,072,653

CREDITORS
Amounts falling due after more than one
year

8

(2,204,615

)

(1,835,405

)

PROVISIONS FOR LIABILITIES - (1,101 )
NET ASSETS 2,204,050 2,236,147

CAPITAL AND RESERVES
Called up share capital 2,181,264 2,181,264
Retained earnings 22,786 54,883
2,204,050 2,236,147

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Akaal Property Ltd (Registered number: 08539136)

Balance Sheet - continued
31 May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2025 and were signed on its behalf by:





B S Sandhu - Director


Akaal Property Ltd (Registered number: 08539136)

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

1. STATUTORY INFORMATION

Akaal Property 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.

Going concern
The financial statements have been prepared on the going concern basis which assumes the company will continue to trade. This depends on the ability of the directors to maintain the necessary financial support.

Turnover
Turnover comprises revenue recognised by the company in respect of rents receivable. Revenue is
recognised in the period to which it relates.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Akaal Property Ltd (Registered number: 08539136)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 June 2023
and 31 May 2024 6,000
AMORTISATION
At 1 June 2023 1,595
Amortisation for year 1,200
At 31 May 2024 2,795
NET BOOK VALUE
At 31 May 2024 3,205
At 31 May 2023 4,405

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 5,890,295
Additions 208,303
At 31 May 2024 6,098,598
NET BOOK VALUE
At 31 May 2024 6,098,598
At 31 May 2023 5,890,295

Investment properties are shown at fair value assessed by the director.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 59,063 6,298

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 28,879 93,780
Taxation and social security - 10,851
Other creditors 1,781,431 1,732,268
1,810,310 1,836,899

Other creditors includes accruals and deferred income of £1,680 (2023: £1,800).

Akaal Property Ltd (Registered number: 08539136)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 2,204,615 1,835,405

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 2,085,777 1,608,030

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 2,193,586 1,883,817

The property investment loans, included in bank loans, are secured over the investment property.