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REGISTERED NUMBER: 05433208 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

AKSWARD LIMITED

AKSWARD LIMITED (REGISTERED NUMBER: 05433208)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 8

AKSWARD LIMITED

COMPANY INFORMATION
for the year ended 30 June 2024







DIRECTORS: G Allen
C L Gamble





REGISTERED OFFICE: Seacourt Tower
West Way
Oxford
OX2 0JJ





REGISTERED NUMBER: 05433208 (England and Wales)





ACCOUNTANTS: Cameron Baum Hollander Limited
88 Crawford Street
London
W1H 2EJ

AKSWARD LIMITED (REGISTERED NUMBER: 05433208)

BALANCE SHEET
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 72,753 69,729
Investments 5 3 3
72,756 69,732

CURRENT ASSETS
Debtors 6 1,121,542 1,546,390
Cash at bank and in hand 484,376 189,232
1,605,918 1,735,622
CREDITORS
Amounts falling due within one year 7 437,695 533,120
NET CURRENT ASSETS 1,168,223 1,202,502
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,240,979

1,272,234

PROVISIONS FOR LIABILITIES 9 51,251 53,570
NET ASSETS 1,189,728 1,218,664

CAPITAL AND RESERVES
Called up share capital 175,857 175,857
Other reserves 10 (40,553 ) (40,553 )
Capital Redemption Reserve 10 200,108 200,108
Retained earnings 10 854,316 883,252
SHAREHOLDERS' FUNDS 1,189,728 1,218,664

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 24 March 2025 and were signed on its behalf by:





G Allen - Director


AKSWARD LIMITED (REGISTERED NUMBER: 05433208)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2024

1. STATUTORY INFORMATION

AKSWard 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.

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.

The financial statements are prepared in UK Pound Sterling, which is the functional currency of the company.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding value added tax. Invoices to clients and receipts in advance are deferred to the accounting period to which they relate.

Income is recognised when the service has been provided to the client, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Fixtures and fittings, and computer equipment are stated at historical cost less accumulated depreciation and accumulated impairment losses.

Depreciation is recognised to write off the cost of assets less their residual values over their useful lives, using the reducing balance method.

The depreciation rates of each category of asset is as follows:

Fixtures and fittings- 25% on reducing balance
Computer equipmentbetween 25% - 33% on reducing balance

The company's policy is to review the remaining useful economic lives and residual values of fixtures and fittings, and computer equipment on an on-going basis and to adjust the depreciation charge to reflect the remaining estimated useful economic life and residual value.

Fully depreciated fixtures and fittings, and computer equipment are retained in the cost of the assets and related accumulated depreciation until they are removed from service. In case of disposals, assets and related depreciation are removed from the financial statements and the net amount, less proceeds from disposal, is charged or credited to the profit and loss account.

Assets not carried at fair value are also reviewed for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. An impairment loss is recognised for the amount by which the asset's carrying value exceeds its recoverable amount.

The recoverable amount is the higher of an asset's fair value less costs to sell and value in use. Value in use is defined as the present value of the future pre-tax and interest cash flows obtainable as a result of the asset's continued use. the pre-tax and interest cash flows are discounted using a pre-tax discount rate that represents the current market risk free rate and risks inherent in the asset. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash-generating units).

If the recoverable amount of the asset (or asset's cash generating unit) is estimated to be lower than the carrying amount, the carrying amount is reduced to the recoverable amount. An impairment loss is recognised in the profit and loss account, unless the asset has been revalued when the amount is recognised in other comprehensive income to the extent of any previously recognised revaluation. Thereafter any excess is recognised in profit and loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset (or asset's cash generating unit) is increased to the revised estimate of its recoverable amount, but only to the extent that the revised carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised in prior periods. A reversal of an impairment loss is recognised in the profit and loss account.


AKSWARD LIMITED (REGISTERED NUMBER: 05433208)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

2. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research is written off in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.
Where the company expects to make, or has made, a tax claim for allowable expenditure, these amounts are accrued to the extent that they are considered to be recoverable. Where there is a tax refund due, this is included in the UK Corporation Tax charge.

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 and loss in the period to which they relate.

The company provides a range of benefits to employees, including annual bonus arrangements, paid holiday arrangements and defined contribution pension plans.

Short term benefits:
Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

Annual bonus plans:
The company recognises a provision and an expense for bonuses where the company has a legal or constructive obligation as a result of past events and a reliable estimate can be made.

Defined contribution pension plans:
The company operates a defined contribution plan. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate fund. Under defined contribution plans, the company has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

For defined contribution plans, the company pays contributions to privately administered pension plans on a contractual or voluntary basis. The company has no further payment obligations once the contributions have been paid. The contributions are recognised as employee benefit expense when they are due. Prepaid contributions are recognised as an asset to the extent that a cash refund or a reduction in the future payments is available.

Fixed asset investments
Fixed asset investments in subsidiaries and associates have been measured at cost less provision for impairments in value.

Hire purchase/leasing
Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations are included in creditors.

AKSWARD LIMITED (REGISTERED NUMBER: 05433208)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Work in progress
The company recordis gross amounts due from customers on contract work within debtors and gross amounts due to customers on contracts billed ahead of stage completion within creditors. This has no impact on the Profit and Loss account or on reserves,
Income from long term contracts
The company recognises revenue due on long term contracts based on the stage of completion of its individual projects, and, where applicable, discounted for the time value of money. The stage of completion of each contract is determined by a technical assessment carried out by qualified senior staff. Amounts due from customers on any such contract work is recorded within Debtors within Accrued income; and gross amounts due to customers on contracts billed ahead of stage completion are included within creditors as accruals and deferred income.


Provisions for liabilities
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre - tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2023 - 41 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2023 311,509 508,679 820,188
Additions - 31,494 31,494
At 30 June 2024 311,509 540,173 851,682
DEPRECIATION
At 1 July 2023 301,417 449,042 750,459
Charge for year 2,523 25,947 28,470
At 30 June 2024 303,940 474,989 778,929
NET BOOK VALUE
At 30 June 2024 7,569 65,184 72,753
At 30 June 2023 10,092 59,637 69,729

AKSWARD LIMITED (REGISTERED NUMBER: 05433208)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

5. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 July 2023
and 30 June 2024 3
NET BOOK VALUE
At 30 June 2024 3
At 30 June 2023 3

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Associated company

Corde Ltd
Registered office:
Nature of business: Architectural services
%
Class of shares: holding
Ordinary 20.00
2024 2023
£    £   
Aggregate capital and reserves 34,120 34,120
Profit for the year 576 576

The current year's company information for Corde Limited is based on the filed accounts for the year ended 30 June 2023, as the financial statements for the period ended 30 June 2024 are not available.

The above investments include £2 which relates to 100% holdings in Andrews Kent & Stone Limited and Anthony Ward Partnership Limited, both of which were dormant during the current financial year.

The directors believe that the market value of the above investments is not significantly different from the net book value.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 577,052 844,789
Other debtors 130,861 178,673
Prepayments and accrued income 413,629 522,928
1,121,542 1,546,390

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 93,556 69,545
Social security and other taxes 56,745 61,323
VAT 107,513 130,929
Other creditors 65,656 68,113
Accruals and deferred income 27,164 94,497
Accrued expenses 87,061 108,713
437,695 533,120

8. SECURED DEBTS

The bank overdraft is secured against the whole assets of the company.

The directors note that the overdraft facility is reviewed by the bank each year and it has been recently reviewed.

AKSWARD LIMITED (REGISTERED NUMBER: 05433208)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 16,251 15,070
Other provisions 35,000 38,500
51,251 53,570

Deferred Other
tax provisions
£    £   
Balance at 1 July 2023 15,070 38,500
Provided during year 1,181 (3,500 )
Balance at 30 June 2024 16,251 35,000

Other provisions represent the likely expenses payable in regard of professional indemnity insurance matters.

10. RESERVES
Capital
Retained Other Redemption
earnings reserves Reserve Totals
£    £    £    £   

At 1 July 2023 883,252 (40,553 ) 200,108 1,042,807
Deficit for the year (28,936 ) (28,936 )
At 30 June 2024 854,316 (40,553 ) 200,108 1,013,871

The 'other reserves' value brought forward represents the consideration attributed to the net assets of Anthony Ward Partnership Limited and Andrews Kent & Stone Limited on 1st July 2005 when they were acquired by this company, less the actual net asset value at that date and accumulated costs. This has also been netted off by the notional share premium attached to the shares that exceeded the value of the net assets transferred into this company on 1 July 2005.

11. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
AKSWARD LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of AKSWard Limited for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of AKSWard Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of AKSWard Limited and state those matters that we have agreed to state to the Board of Directors of AKSWard Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AKSWard Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that AKSWard Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of AKSWard Limited. You consider that AKSWard Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of AKSWard Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Cameron Baum Hollander Limited
88 Crawford Street
London
W1H 2EJ


24 March 2025