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Registered number: 09537546
AKS Consulting Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09537546
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 89,912 51,080
89,912 51,080
CURRENT ASSETS
Stocks 5 1,898 24,280
Debtors 6 1,123,127 1,462,504
Cash at bank and in hand 11,652 16,183
1,136,677 1,502,967
Creditors: Amounts Falling Due Within One Year 7 (195,818 ) (301,129 )
NET CURRENT ASSETS (LIABILITIES) 940,859 1,201,838
TOTAL ASSETS LESS CURRENT LIABILITIES 1,030,771 1,252,918
Creditors: Amounts Falling Due After More Than One Year 8 (58,062 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (8,166 ) (11,446 )
NET ASSETS 964,543 1,241,472
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 964,443 1,241,372
SHAREHOLDERS' FUNDS 964,543 1,241,472
Page 1
Page 2
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
S M Yakub
Director
4th April 2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
AKS Consulting Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09537546 . The registered office is Office 12 Courthill House, 60 Water Lane, Wilmslow, Cheshire, SK9 5AJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The company has faced difficult trading conditions in the year. If the trading conditions continue to be difficult there is a risk that forecast sales will not be achieved. As a result, the director has concluded that a material uncertainty exists that casts significant doubt upon the company’s ability to continue as a going concern for a period in excess of twelve months from the approval of these financial statements. As the director however expects the company to be able to realise its assets and discharge its liabilities in the normal course of business, the director will continue to adopt the going concern basis of accounting.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on reducing balance
Motor Vehicles 15% on reducing balance
Fixtures & Fittings 20% on cost
Computer Equipment 25% on cost
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals paid under operating leases are charged to profit and loss account on a straight line basis over the period of the lease.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 5)
4 5
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 November 2023 42,088 68,765 319 4,914 116,086
Additions 1,380 87,000 910 - 89,290
Disposals (16,540 ) (68,765 ) - (795 ) (86,100 )
As at 31 October 2024 26,928 87,000 1,229 4,119 119,276
Depreciation
As at 1 November 2023 17,318 43,554 271 3,863 65,006
Provided during the period 3,758 13,050 229 704 17,741
Disposals (9,180 ) (43,554 ) - (649 ) (53,383 )
As at 31 October 2024 11,896 13,050 500 3,918 29,364
Net Book Value
As at 31 October 2024 15,032 73,950 729 201 89,912
As at 1 November 2023 24,770 25,211 48 1,051 51,080
5. Stocks
2024 2023
£ £
Materials 1,898 24,280
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 28,779 282,134
Prepayments and accrued income 18,471 13,980
Other debtors 56,041 40,207
Corporation tax recoverable assets 30,202 -
VAT 9,142 12,074
142,635 348,395
Due after more than one year
Other debtors 980,492 1,114,109
1,123,127 1,462,504
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,628 -
Trade creditors 26,054 65,312
Corporation tax - 106,680
Other taxes and social security 1,245 -
Other creditors 84,930 48,893
Accruals and deferred income 8,440 5,385
Director's loan account 69,521 74,859
195,818 301,129
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 58,062 -
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 12,535 -
Later than one year and not later than five years 71,445 -
83,980 -
Less: Finance charges allocated to future periods 20,290 -
63,690 -
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 13,331 -
Later than one year and not later than five years 17,234 -
30,565 -
12. Directors Advances, Credits and Guarantees
The following advances and credits to a director subsisted during the year ended 31 October 2024:
As at 1 November 2023 Amounts advanced Amounts repaid Amounts written off As at 31 October 2024
£ £ £ £ £
Mr Steven Yakub - 10,221 (10,221 ) - -
The above loan was unsecured, with interest charged at 2.5% and was repayable on demand.
13. Related Party Transactions
The director's loan account represents amounts due to a director, S M Yakub. The loan is unsecured, interest free and repayable on demand.
Other creditors includes amounts due to a shareholder, K Yakub. The loan is unsecured, interest free and repayable on demand.
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