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Akil Properties Limited
Registered Number:04226336
For the year ended 31 May 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 May 2024
Akil Properties Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
04226336
As at 31 May 2024
Akil Properties Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
2,939,843
2,711,186
2
Financial assets
150,000
150,000
3
3,089,843
2,861,186
Current assets
Trade and other receivables
97,000
97,221
4
645,881
Cash and cash equivalents
412,630
509,851
742,881
Trade and other payables: amounts falling due within one
year
(1,842,440)
(1,792,485)
5
(1,099,559)
(1,282,634)
Net current liabilities
Total assets less current liabilities
1,807,209
1,761,627
Trade and other payables: amounts falling due after more
than one year
(186,090)
(176,120)
6
1,631,089
Net assets
1,575,537
Capital and reserves
Called up share capital
2
2
Retained earnings
1,631,087
1,575,535
1,631,089
1,575,537
Shareholders' funds
For the year ended 31 May 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
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 proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Usman Patel Director
These financial statements were approved and authorised for issue by the Board on 24 February 2025 and were signed by:
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4
Registered Number :
04226336
For the year ended 31 May 2024
Akil Properties Limited
Statement of Financial Position Continued
The notes form part of these financial statements
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5
For the year ended 31 May 2024
Akil Properties Limited
Notes to the Financial Statements
Statutory Information
Akil Properties Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 04226336.
Registered address:
125 Eskrick Street
Bolton
Lancashire
BL1 3JB
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
20 Straight line
10 Straight line
Fixtures and fittings
No depreciation is provided on the company''s freehold properties since in the opinion of the directors the expected
useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation
would be immaterial. The directors undertake an annual impairment review of these properties.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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6
For the year ended 31 May 2024
Akil Properties Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Fixtures and
fittings
Plant and
machinery
Land and
buildings
£
£
£
£
Cost or
valuation
At 01 June 2023
2,741,210
500
31,454
2,709,256
229,300
-
-
229,300
Additions
At 31 May 2024
2,938,556
31,454
500
2,970,510
Provision for depreciation and impairment
At 01 June 2023
30,024
500
29,524
-
Charge for year
643
-
643
-
At 31 May 2024
30,667
500
30,167
-
At 31 May 2024
Net book value
2,938,556
1,287
-
2,939,843
At 31 May 2023
2,709,256
1,930
-
2,711,186
3. Investments held as fixed assets
Other investments
Total
At 01 June 2023
150,000
150,000
Cost
£
£
At 31 May 2024
150,000
150,000
At 31 May 2024
Net book value
150,000
150,000
At 01 June 2023
150,000
150,000
4. Trade and other receivables
2023
2024
£
£
Trade debtors
7,200
-
Other debtors
90,021
97,000
97,000
97,221
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7
For the year ended 31 May 2024
Akil Properties Limited
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Bank loans and overdraft (secured)
10,000
10,000
Trade creditors
14,100
9,298
Taxation and social security
15,268
78,471
Other creditors
1,753,117
1,744,671
1,792,485
1,842,440
6. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft (secured)
11,597
21,567
Other creditors
164,523
164,523
176,120
186,090
7. Average number of persons employed
During the year the average number of employees was 0
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