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REGISTERED NUMBER: SC313586 (Scotland)












Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 August 2024

for

Akela Property Investments Limited

Akela Property Investments Limited (Registered number: SC313586)






Contents of the Consolidated Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 11

Consolidated Income Statement 14

Consolidated Other Comprehensive Income 15

Consolidated Statement of Financial Position 16

Company Statement of Financial Position 18

Consolidated Statement of Changes in Equity 19

Company Statement of Changes in Equity 20

Consolidated Statement of Cash Flows 21

Notes to the Consolidated Statement of Cash Flows 22

Notes to the Consolidated Financial Statements 24


Akela Property Investments Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: M A Markey
I C Reid





REGISTERED OFFICE: Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU





REGISTERED NUMBER: SC313586 (Scotland)





AUDITORS: O'Haras Accountants Limited (Statutory Auditor)
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

Akela Property Investments Limited (Registered number: SC313586)

Group Strategic Report
for the Year Ended 31 August 2024

The directors present their strategic report of the company and the group for the year ended 31 August 2024.

REVIEW OF BUSINESS
Group turnover has decreased by 22.31% from the previous year. The group has remained resilient to the challenges within the construction sector. The directors are aware of the very competitive nature of the industry and the requirement to ensure that contracts are priced competitively and realistically to allow the company to provide the quality and continuity of service which has become a hallmark of the Akela brand.

PRINCIPAL RISKS AND UNCERTAINTIES
The group continues to experience a very significant level of demand for its services. However this demand has been tempered to some extent by the increasing difficulty of sourcing supplies, the price increases in relation to those supplies and the competitive nature of the industry in terms of securing available resources. The directors are however very confident with regard to the group's future prospects and that the short term supply problems will ultimately be resolved.

SECTION 172(1) STATEMENT
The directors, in line with their duties under s172 of the Companies Act 2006, act in a way they consider, in good faith, would be most likely to promote the success of the group for the benefit of its members as a whole, and in doing so have regard to a number of matters, including:

-the likely consequences of any decision in the long term;
-the interests of the group's employees;
-the need to foster the group's business relationships with suppliers, customers and others.
-the impact that the group has on the community and the environment
-the desirability of the group to maintain a reputation for high standards of business conduct.

Key decisions and matters that are of strategic importance to the group are appropriately informed by s172 factors and as part of the board's decision-making process, we consider the potential impact of decisions on relevant stakeholders whilst also having regard to a number of broader factors listed above.

Engaging with stakeholders
The directors consider for the business to be successful it is dependent on the support of all its stakeholders as this will help it to deliver long-term sustainability. This includes:

Employees: We have an objective to maintain a competent and supported workforce. Our employees remain our greatest asset, with a skilled and motivated workforce key to achieving successful health, safety and environmental performance levels.

Customers: Our customers are key and we aim to deliver a high service to them. We work closely with the customer to meet their demands and ensure we provide the quality service they expect.

Suppliers: Our suppliers are important to the continued success of the group and we have built strong relationships with them.


Akela Property Investments Limited (Registered number: SC313586)

Group Strategic Report
for the Year Ended 31 August 2024

FUTURE DEVELOPMENTS AND THE POSITION OF THE GROUP AT THE YEAR END
Similar to previous years, the industry and the group have demonstrated resilience when faced with adversity.

The group continues to remain competitive within its market place and has continued to secure significant contracts in the private housing sector. While the private housing sector has improved, the directors will remain vigilant with regard to the risks which are associated with this sector of the construction industry.

In summary, we consider that the Group is in a strong position with consistent financial performance.

ON BEHALF OF THE BOARD:





M A Markey - Director


28 May 2025

Akela Property Investments Limited (Registered number: SC313586)

Report of the Directors
for the Year Ended 31 August 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 August 2024.

DIVIDENDS
Interim dividends per share were paid as follows:
Ordinary £1 shares £4.15 - 31 August 2024
Ordinary A £1 shares £1.25 - 31 August 2024
Ordinary B £1 shares NIL


The directors recommend that no final dividends be paid.

The total distribution of dividends for the year ended 31 August 2024 will be £ 55,811 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 September 2023 to the date of this report.

M A Markey
I C Reid

Other changes in directors holding office are as follows:

Mrs M McIntyre - appointed 6 October 2023 - resigned 1 February 2024

DISABLED EMPLOYEES
Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the group companies continues and the appropriate training is arranged. It is the policy of the group that the training, career development and promotion of disabled persons should, as far a possible, be identical to that of other employees.

ENGAGEMENT WITH EMPLOYEES
We have an objective to maintain a competent and supported workforce. Our employees remain our greatest asset, with a skilled and motivated workforce key to achieving successful health, safety and environmental performance levels.

The Akela Group, through Tala Training, provide and support the HSE department with a wide range of construction industry training relevant to the roles and responsibilities to be undertaken. Training needs will continue to be assessed to ensure employees have the necessary skills and information required to meet the requirement of the group companies and aid personal development.

STREAMLINED ENERGY AND CARBON REPORTING
This report relates to Akela Construction Ltd, the trading company and largest company within the group.


Area

Ref
KPI
Description

2021-2022

2022-2023

2023-2024


Scope 1 Fuel
Card Diesel



1.1
Fuel Card -
Diesel
Consumption
(litres)



252,369



213,878



172,439

Akela Property Investments Limited (Registered number: SC313586)

Report of the Directors
for the Year Ended 31 August 2024







Scope 1 Fuel
Card Diesel







1.2
Diesel
(average
biofuel blend) -
litres (Gross
CV) - kg CO2e
Carbon
conversion
factor







2.512330







2.557840







2.512790




Scope 1 Fuel
Card Diesel





1.3
Fuel Card -
Diesel Carbon
Emissions (kg
CO2e) (using
litres
conversion)





634,034





547,065





433,302





Scope 1 Fuel
Card Diesel






1.4
Diesel
(average
biofuel blend)
Gross CV
kWh/litre
conversion
factor






10.60700






10.60700






10.51100


Scope 1 Fuel
Card Diesel



1.5
Fuel Card -
Diesel
Consumption
kWh)



2,676,876



2,268,602



1,812,502





Scope 1 Fuel
Card Diesel






1.6
Diesel
(average
biofuel blend)
kWh (Gross
CV) - kg CO2e
conversion
factor






0.23686






0.24115






0.23902




Scope 1 Fuel
Card Diesel





1.7
Fuel Card -
Diesel Carbon
Emissions (kg
CO2e) (using
kWh
conversion)





634,045





547,073





433,224


Area

Ref
KPI
Description

2021-2022

2022-2023

2023-2024


Scope 1 Bulk
Fuel Diesel



2.1
Bulk Fuel -
Diesel
Consumption
(litres)



1,268,204



1,171,939



1,191,202






Scope 1 Bulk
Fuel Diesel







2.2
Diesel
(average
biofuel blend) -
litres (Gross
CV) - kg CO2e
Carbon
conversion
factor







2.512330







2.557840







2.512790

Akela Property Investments Limited (Registered number: SC313586)

Report of the Directors
for the Year Ended 31 August 2024





Scope 1 Bulk
Fuel Diesel





2.3
Bulk Diesel -
Diesel Carbon
Emissions (kg
CO2e) (using
litres
conversion)





3,186,147





2,997,632





2,993,240





Scope 1 Bulk
Fuel Diesel






2.4
Diesel
(average
biofuel blend)
Gross CV
kWh/litre
conversion
factor






10.60700






10.60700






10.51100


Scope 1 Bulk
Fuel Diesel



2.5
Bulk Diesel -
Diesel
Consumption
kWh)



13,451,840



12,430,757



12,520,724





Scope 1 Bulk
Fuel Diesel






2.6
Diesel
(average
biofuel blend)
kWh (Gross
CV) - kg CO2e
conversion
factor






0.23686






0.24115






0.23902




Scope 1 Bulk
Fuel Diesel





2.7
Bulk Diesel -
Diesel Carbon
Emissions (kg
CO2e) (using
kWh
conversion)





3,186,203





2,997,677





2,992,704


Area

Ref
KPI
Description

2021-2022

2022-2023

2023-2024

Scope 1 Total
Diesel


3.1
Total Diesel
Consumption
(litres)


1,520,573


1,385,817


1,363,641






Scope 1 Total
Diesel







3.2
Diesel
(average
biofuel blend) -
litres (Gross
CV) - kg CO2e
Carbon
conversion
factor







2.512330







2.557840







2.512790




Scope 1 Total
Diesel





3.3
Total Diesel -
Diesel Carbon
Emissions (kg
CO2e) (using
litres
conversion)





3,820,181





3,544,698





3,426,542

Akela Property Investments Limited (Registered number: SC313586)

Report of the Directors
for the Year Ended 31 August 2024






Scope 1 Total
Diesel






3.4
Diesel
(average
biofuel blend)
Gross CV
kWh/litre
conversion
factor






10.60700






10.60700






10.51100


Scope 1 Total
Diesel



3.5
Total Diesel -
Diesel
Consumption
kWh)



16,128,716



14,699,359



14,333,226





Scope 1 Total
Diesel






3.6
Diesel
(average
biofuel blend)
kWh (Gross
CV) - kg CO2e
conversion
factor






0.23686






0.24115






0.23902




Scope 1 Total
Diesel





3.7
Total Diesel -
Diesel Carbon
Emissions (kg
CO2e) (using
kWh
conversion)





3,820,248





3,544,750





3,425,928

Area Ref KPI Description 2021-2022 2022-2023 2023-2024



Scope 1 Petrol



4.1
Fuel Card -
Petrol
Consumption
(litres)



0



5,747



11,104






Scope 1 Petrol






4.2
Petrol (average
biofuel blend) -
litres (Gross
CV) - kg CO2e
Carbon
conversion
factor






2.193520






2.161850






2.084400





Scope 1 Petrol





4.3
Fuel Card -
Petrol Carbon
Emissions (kg
CO2e) (using
litres
conversion)





0





12,424





23,145





Scope 1 Petrol





4.4
Petrol (average
biofuel blend)
Gross CV
kWh/litre
conversion
factor





9.54500





9.51500





9.46800



Scope 1 Petrol



4.5
Fuel Card -
Petrol -
Consumption
(kWh)



0



54,680



105,132

Akela Property Investments Limited (Registered number: SC313586)

Report of the Directors
for the Year Ended 31 August 2024







Scope 1 Petrol






4.6
Petrol (average
biofuel blend) -
kWh (Gross
CV) - kg CO2e
Carbon
conversion
factor






0.22980






0.22719






0.22013





Scope 1 Petrol





4.7
Fuel Card -
Petrol - Carbon
Emissions (kg
CO2e) (using
KWh
conversion)





0





12,423





23,143

Area Ref KPI Description 2021-2022 2022-2023 2023-2024

Scope 2
Electricity


5.1
Electricity
Consumption
(kWh)


132,791


143,016


105,679


Scope 2
Electricity



5.2
Electricity
Carbon
Emissions (kg
CO2e)



28,196



27,656



21,881


Scope 2
Electricity



5.3
Electricity UK
kg CO2e Carbon
conversion
factor



0.212330



0.193380



0.207050

Area Ref KPI Description 2021-2022 2022-2023 2023-2024

Scope 2 Natural
Gas


6.1
Natural Gas
Consumption
(kWh)


44,352


41,902


36,179


Scope 2 Natural
Gas



6.2
Natural Gas
Carbon
Emissions (kg
CO2e)



8,124



7,649



6,617

Scope 2 Natural
Gas


6.3
Natural Gas
kWh (Gross
CV) - KG CO2e


0.183160


0.182540


0.182900

Area Ref KPI Description 2021-2022 2022-2023 2023-2024



Scope 1 & 2
Carbon Emissions




7.1
Total Carbon
Emissions (kg
CO2e)
(converting
litres)




3,856,500




3,592,426




3,478,185



Scope 1 & 2
Carbon Emissions




7.2
Total Carbon
Emissions (t
CO2e)
(converting
litres)




3,856




3,592




3,478

Scope 1 & 2
Carbon Emissions


7.3
Total Carbon
Emissions (kg
CO2e)


3,856,567


3,592,478


3,477,568

Akela Property Investments Limited (Registered number: SC313586)

Report of the Directors
for the Year Ended 31 August 2024


Scope 1 & 2
Carbon Emissions


7.4
Total Carbon
Emissions (t
CO2e)


3,857


3,592


3,478

Area Ref KPI Description 2021-2022 2022-2023 2023-2024
Scope 1 & 2
Intensity Ratio
'Turnover'


8.1
Total Energy
Consumption
(kWh)


16,305,860


14,938,957


14,580,216

Scope 1 & 2
Intensity Ratio
'Turnover'



8.2
Total Green
House Gas
Emissions (kg
CO2e)



3,856,567



3,592,478



3,477,568
Scope 1 & 2
Intensity Ratio
'Turnover'


8.3
Akela
Construction
Turnover (£)


45,862,615


35,630,335


27,634,965


Scope 1 & 2
Intensity Ratio
'Turnover'




8.4
Intensity Ratio -
Turnover -
Carbon (kg
CO2e per £
turnover)




0.08409




0.10083




0.12584

Akela Construction Ltd provide civil engineering and groundworks solutions for housebuilders, main contractors, local authorities, public utilities and industry.

Akela have maintained certification with the internationally recognised management system standards:
BS EN ISO 14001:2015 Environmental; ISO 9001:2015 Quality; ISO 45001:2018 Occupational Health & Safety.

We seek to protect the environment and prevent pollution and implement objectives and targets to achieve this.

We have a programme of investment in plant, equipment, technology and staff in line with our policy commitments.

We have invested in vehicle telemetry systems to drive improvement in fuel consumption.

We are improving the fuel efficiency of plant and equipment, and proactively work with our supply chain to trial new technologies that have a positive environmental impact.

Our head office has been furbished with lighting and controls that minimise energy consumption and we are looking at onsite renewable energy solutions.

Akela are improving systems for environmental monitoring and reporting and focusing on audits to identify opportunities for continual improvement.

The data utilised for this report has been taken from invoices, meter readings and fuel card transactions. Carbon conversion factors are from the UK Government website which are updated annually in June. Akela Construction are reporting on Scope 1 and Scope 2 emissions in line with The Greenhouse Gas Protocol 2022.


Akela Property Investments Limited (Registered number: SC313586)

Report of the Directors
for the Year Ended 31 August 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, O'Haras Accountants Limited (Statutory Auditor), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





M A Markey - Director


28 May 2025

Report of the Independent Auditors to the Members of
Akela Property Investments Limited

Opinion
We have audited the financial statements of Akela Property Investments Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 August 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 August 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Report of the Independent Auditors to the Members of
Akela Property Investments Limited


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page ten, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Akela Property Investments Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the construction industry in which it operates. We made enquiries of management as to whether there were any known or suspected instances of non-compliance with laws and regulations or fraud, and reviewed available board minutes for any indication of such matters.
- We gained an understanding of management's internal controls designed to prevent and detect irregularities in their day-to-day operations.
- We considered laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement components. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management and enquiries of relevant third parties.
- We considered how fraud might occur in this company and designed our tests accordingly.
- As in all audits, we also addressed the risk of management override of internal controls, including reviewing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




John O'Hara CA (Senior Statutory Auditor)
for and on behalf of O'Haras Accountants Limited (Statutory Auditor)
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

28 May 2025

Akela Property Investments Limited (Registered number: SC313586)

Consolidated Income Statement
for the Year Ended 31 August 2024

2024 2023
Notes £    £   

REVENUE 27,634,965 35,630,335

Cost of sales 22,027,218 29,409,847
GROSS PROFIT 5,607,747 6,220,488

Administrative expenses 4,718,614 5,218,880
889,133 1,001,608

Other operating income 28,200 219,310
OPERATING PROFIT 3 917,333 1,220,918

Interest receivable and similar income 469,694 346,160
1,387,027 1,567,078

Interest payable and similar expenses 4 28,240 18,008
PROFIT BEFORE TAXATION 1,358,787 1,549,070

Tax on profit 5 364,586 168,567
PROFIT FOR THE FINANCIAL YEAR 994,201 1,380,503
Profit attributable to:
Owners of the parent 994,201 1,380,503

Akela Property Investments Limited (Registered number: SC313586)

Consolidated Other Comprehensive Income
for the Year Ended 31 August 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 994,201 1,380,503


OTHER COMPREHENSIVE INCOME
Purchase of own shares (148,926 ) -
Disposal of property
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

(148,926

)

-
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

845,275

1,380,503

Total comprehensive income attributable to:
Owners of the parent 845,275 1,380,503

Akela Property Investments Limited (Registered number: SC313586)

Consolidated Statement of Financial Position
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Property, plant and equipment 8 1,622,100 1,690,636
Investments 9 - -
Investment property 10 3,023,544 310,707
4,645,644 2,001,343

CURRENT ASSETS
Inventories 11 526,688 501,104
Debtors 12 6,422,462 6,399,789
Cash at bank and in hand 7,570,027 9,872,587
14,519,177 16,773,480
CREDITORS
Amounts falling due within one year 13 5,087,606 5,408,660
NET CURRENT ASSETS 9,431,571 11,364,820
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,077,215

13,366,163

CREDITORS
Amounts falling due after more than one year 14 (181,910 ) (243,334 )

PROVISIONS FOR LIABILITIES 17 (60,138 ) (76,904 )
NET ASSETS 13,835,167 13,045,925

Akela Property Investments Limited (Registered number: SC313586)

Consolidated Statement of Financial Position - continued
31 August 2024

2024 2023
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 18 16,444 16,666
Capital redemption reserve 19 2,306 2,084
Other reserves 19 (30,553 ) (30,553 )
Retained earnings 19 13,846,970 13,057,728
SHAREHOLDERS' FUNDS 13,835,167 13,045,925


The financial statements were approved by the Board of Directors and authorised for issue on 28 May 2025 and were signed on its behalf by:




M A Markey - Director



I C Reid - Director


Akela Property Investments Limited (Registered number: SC313586)

Company Statement of Financial Position
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Property, plant and equipment 8 - -
Investments 9 25,000 25,000
Investment property 10 3,761,544 1,066,707
3,786,544 1,091,707

CURRENT ASSETS
Debtors 12 577,112 1,300,306
Cash at bank 1,305,942 1,421,314
1,883,054 2,721,620
CREDITORS
Amounts falling due within one year 13 1,036,210 1,023,864
NET CURRENT ASSETS 846,844 1,697,756
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,633,388

2,789,463

CAPITAL AND RESERVES
Called up share capital 18 16,444 16,666
Capital redemption reserve 2,306 2,084
Other reserves (30,553 ) (30,553 )
Retained earnings 4,645,191 2,801,266
SHAREHOLDERS' FUNDS 4,633,388 2,789,463

Company's profit for the financial year 2,048,884 1,557,782

The financial statements were approved by the Board of Directors and authorised for issue on 28 May 2025 and were signed on its behalf by:




M A Markey - Director



I C Reid - Director


Akela Property Investments Limited (Registered number: SC313586)

Consolidated Statement of Changes in Equity
for the Year Ended 31 August 2024

Called up Capital
share Retained redemption Other Total
capital earnings reserve reserves equity
£    £    £    £    £   
Balance at 1 September 2022 16,666 11,913,351 2,084 (30,553 ) 11,901,548

Changes in equity
Dividends - (236,126 ) - - (236,126 )
Total comprehensive income - 1,380,503 - - 1,380,503
Balance at 31 August 2023 16,666 13,057,728 2,084 (30,553 ) 13,045,925

Changes in equity
Issue of share capital (222 ) - - - (222 )
Dividends - (55,811 ) - - (55,811 )
Total comprehensive income - 845,053 222 - 845,275
Balance at 31 August 2024 16,444 13,846,970 2,306 (30,553 ) 13,835,167

Akela Property Investments Limited (Registered number: SC313586)

Company Statement of Changes in Equity
for the Year Ended 31 August 2024

Called up Capital
share Retained redemption Other Total
capital earnings reserve reserves equity
£    £    £    £    £   
Balance at 1 September 2022 16,666 1,479,610 2,084 (30,553 ) 1,467,807

Changes in equity
Dividends - (236,126 ) - - (236,126 )
Total comprehensive income - 1,557,782 - - 1,557,782
Balance at 31 August 2023 16,666 2,801,266 2,084 (30,553 ) 2,789,463

Changes in equity
Issue of share capital (222 ) - - - (222 )
Dividends - (55,811 ) - - (55,811 )
Total comprehensive income - 1,899,736 222 - 1,899,958
Balance at 31 August 2024 16,444 4,645,191 2,306 (30,553 ) 4,633,388

Akela Property Investments Limited (Registered number: SC313586)

Consolidated Statement of Cash Flows
for the Year Ended 31 August 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 573,086 2,109,740
Interest element of hire purchase payments
paid

(28,240

)

(18,008

)
Tax paid (214,731 ) (259,154 )
Net cash from operating activities 330,115 1,832,578

Cash flows from investing activities
Purchase of tangible fixed assets (330,975 ) (438,621 )
Purchase of investment property (2,715,699 ) (2,345 )
Sale of tangible fixed assets 202,629 96,339
Interest received 469,694 346,160
Net cash from investing activities (2,374,351 ) 1,533

Cash flows from financing activities
Capital repayments in year (53,365 ) 93,846
Share buyback (149,148 ) -
Equity dividends paid (55,811 ) (236,126 )
Net cash from financing activities (258,324 ) (142,280 )

(Decrease)/increase in cash and cash equivalents (2,302,560 ) 1,691,831
Cash and cash equivalents at beginning of
year

2

9,872,587

8,180,756

Cash and cash equivalents at end of year 2 7,570,027 9,872,587

Akela Property Investments Limited (Registered number: SC313586)

Notes to the Consolidated Statement of Cash Flows
for the Year Ended 31 August 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit before taxation 1,358,787 1,549,070
Depreciation charges 244,578 230,315
Profit on disposal of fixed assets (44,834 ) (25,006 )
Amounts recoverable on contracts 631,350 1,952,772
Finance costs 28,240 18,008
Finance income (469,694 ) (346,160 )
1,748,427 3,378,999
(Increase)/decrease in inventories (25,584 ) 472,687
Increase in trade and other debtors (654,024 ) (445,737 )
Decrease in trade and other creditors (495,733 ) (1,296,209 )
Cash generated from operations 573,086 2,109,740

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 August 2024
31.8.24 1.9.23
£    £   
Cash and cash equivalents 7,570,027 9,872,587
Year ended 31 August 2023
31.8.23 1.9.22
£    £   
Cash and cash equivalents 9,872,587 8,180,756


Akela Property Investments Limited (Registered number: SC313586)

Notes to the Consolidated Statement of Cash Flows
for the Year Ended 31 August 2024

3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.9.23 Cash flow At 31.8.24
£    £    £   
Net cash
Cash at bank and in hand 9,872,587 (2,302,560 ) 7,570,027
9,872,587 (2,302,560 ) 7,570,027
Debt
Finance leases (479,910 ) 53,365 (426,545 )
(479,910 ) 53,365 (426,545 )
Total 9,392,677 (2,249,195 ) 7,143,482

Akela Property Investments Limited (Registered number: SC313586)

Notes to the Consolidated Financial Statements
for the Year Ended 31 August 2024

1. 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Revenue
Turnover represents provided sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

Inventories
Inventories 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 Consolidated 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.


Akela Property Investments Limited (Registered number: SC313586)

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

1. 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 7,954,622 9,579,215
Social security costs 844,488 1,051,366
Other pension costs 590,320 489,711
9,389,430 11,120,292

The average number of employees during the year was as follows:
2024 2023

Administration 52 57
Construction 129 162
181 219

The average number of employees by undertakings that were proportionately consolidated during the year was 181 (2023 - 219 ) .

Akela Property Investments Limited (Registered number: SC313586)

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

2. EMPLOYEES AND DIRECTORS - continued

2024 2023
£    £   
Directors' remuneration 648,222 693,445
Directors' pension contributions to money purchase schemes 344,065 206,984

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 92,710 157,650
Pension contributions to money purchase schemes 72,500 50,000

3. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Hire of plant and machinery 3,014,854 3,842,845
Other operating leases 7,687 25,298
Depreciation - owned assets 244,578 230,315
Profit on disposal of fixed assets (44,834 ) (25,006 )
Auditors' remuneration 11,000 10,500
Auditors' remuneration for non audit work 32,556 24,719

4. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Hire purchase 28,240 18,008

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 379,093 293,639
Underprovision in respect of prior year 2,259 (194,396 )
Total current tax 381,352 99,243

Deferred tax (16,766 ) 69,324
Tax on profit 364,586 168,567

Akela Property Investments Limited (Registered number: SC313586)

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

5. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,358,787 1,549,070
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 21.515 %)

339,697

333,282

Effects of:
Expenses not deductible for tax purposes 17,414 24,191
Capital allowances in excess of depreciation - (63,834 )
Depreciation in excess of capital allowances 21,982 -
Adjustments to tax charge in respect of previous periods 2,259 (194,396 )
Deferred tax per above note (16,766 ) 69,324
Total tax charge 364,586 168,567

Tax effects relating to effects of other comprehensive income

2024
Gross Tax Net
£    £    £   
Purchase of own shares (148,926 ) - (148,926 )
Disposal of property
(148,926 ) - (148,926 )

2023
Gross Tax Net
£    £    £   
Purchase of own shares
Disposal of property
- - -

6. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


Akela Property Investments Limited (Registered number: SC313586)

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

7. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim 51,891 121,399
Ordinary A shares of £1 each
Interim 3,920 114,727
55,811 236,126

8. PROPERTY, PLANT AND EQUIPMENT

Group
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST OR VALUATION
At 1 September 2023 900,000 332,694 189,085
Additions - - -
Disposals - - -
At 31 August 2024 900,000 332,694 189,085
DEPRECIATION
At 1 September 2023 144,000 122,437 150,135
Charge for year 18,000 29,800 5,520
Eliminated on disposal - - -
At 31 August 2024 162,000 152,237 155,655
NET BOOK VALUE
At 31 August 2024 738,000 180,457 33,430
At 31 August 2023 756,000 210,257 38,950

Akela Property Investments Limited (Registered number: SC313586)

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

8. PROPERTY, PLANT AND EQUIPMENT - continued

Group

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 September 2023 1,181,100 136,034 2,738,913
Additions 329,908 1,067 330,975
Disposals (433,505 ) - (433,505 )
At 31 August 2024 1,077,503 137,101 2,636,383
DEPRECIATION
At 1 September 2023 497,505 134,200 1,048,277
Charge for year 186,990 1,406 241,716
Eliminated on disposal (275,710 ) - (275,710 )
At 31 August 2024 408,785 135,606 1,014,283
NET BOOK VALUE
At 31 August 2024 668,718 1,495 1,622,100
At 31 August 2023 683,595 1,834 1,690,636

Cost or valuation at 31 August 2024 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
Valuation in 2015 (49,545 ) - -
Cost 949,545 332,694 189,085
900,000 332,694 189,085

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2015 - - (49,545 )
Cost 1,077,503 137,101 2,685,928
1,077,503 137,101 2,636,383

Included in the fixed assets are assets held under hire purchase contracts. In respect of these hire purchase contracts, depreciation of £174,820 has been charged and the assets have a net book value of £752,496.

Akela Property Investments Limited (Registered number: SC313586)

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

9. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 September 2023
and 31 August 2024 25,000
NET BOOK VALUE
At 31 August 2024 25,000
At 31 August 2023 25,000

The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Subsidiary

Akela Construction Limited
Registered office: 1 Golf Road, Clarkston, Glasgow, G76 7HU
Nature of business: Civil engineering contractors
%
Class of shares: holding
Ordinary 100.00
31.8.24 31.8.23
£    £   
Aggregate capital and reserves 9,226,779 10,281,461
Profit for the year 945,318 1,322,719


Akela Property Investments Limited (Registered number: SC313586)

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

10. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 September 2023 310,707
Additions 2,715,699
At 31 August 2024 3,026,406
DEPRECIATION
Charge for year 2,862
At 31 August 2024 2,862
NET BOOK VALUE
At 31 August 2024 3,023,544
At 31 August 2023 310,707

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2015 (128,343 )
Cost 3,154,749
3,026,406

Company
Total
£   
FAIR VALUE
At 1 September 2023 1,210,707
Additions 2,715,699
At 31 August 2024 3,926,406
DEPRECIATION
At 1 September 2023 144,000
Charge for year 20,862
At 31 August 2024 164,862
NET BOOK VALUE
At 31 August 2024 3,761,544
At 31 August 2023 1,066,707

Akela Property Investments Limited (Registered number: SC313586)

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

11. STOCKS

Group
2024 2023
£    £   
Stocks 526,688 501,104

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 259,582 178,126 - -
Amounts owed by group undertakings - - 572,149 1,295,343
Amounts recoverable on contracts 5,573,642 6,204,993 - -
Other debtors 579,748 11,399 92 92
Directors' current accounts 400 400 - -
VAT 610 4,871 4,871 4,871
Prepayments 8,480 - - -
6,422,462 6,399,789 577,112 1,300,306

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Hire purchase contracts (see note 15) 244,635 236,576 - -
Trade creditors 1,415,508 1,535,353 - -
Amounts owed to group undertakings - 1 999,942 1,000,000
Tax 261,591 94,970 26,268 13,864
Social security and other taxes 266,350 304,484 - -
Other creditors 773,514 1,056,933 - -
Directors' current accounts 14,611 14,611 - -
Accruals and deferred income 2,111,397 2,165,732 10,000 10,000
5,087,606 5,408,660 1,036,210 1,023,864

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
2024 2023
£    £   
Hire purchase contracts (see note 15) 181,910 243,334

Akela Property Investments Limited (Registered number: SC313586)

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

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Gross obligations repayable:
Within one year 262,808 256,914
Between one and five years 188,911 256,645
451,719 513,559

Finance charges repayable:
Within one year 18,173 20,338
Between one and five years 7,001 13,311
25,174 33,649

Net obligations repayable:
Within one year 244,635 236,576
Between one and five years 181,910 243,334
426,545 479,910

16. SECURED DEBTS

The banking facilities are secured by a floating charge and cross guarantees over the assets and the undertakings of the group.

17. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax 60,138 76,904

Group
Deferred
tax
£   
Balance at 1 September 2023 76,904
Credit to Income Statement during year (16,766 )
Balance at 31 August 2024 60,138

Akela Property Investments Limited (Registered number: SC313586)

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

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
12,500 Ordinary £1 12,500 12,500
3,125 Ordinary A £1 3,125 3,125
819 Ordinary B £1 819 1,041
16,444 16,666

19. RESERVES

Group
Capital
Retained redemption Other
earnings reserve reserves Totals
£    £    £    £   

At 1 September 2023 13,057,728 2,084 (30,553 ) 13,029,259
Profit for the year 994,201 994,201
Dividends (55,811 ) (55,811 )
Purchase of own shares (149,148 ) 222 - (148,926 )
At 31 August 2024 13,846,970 2,306 (30,553 ) 13,818,723

Company
Capital
Retained redemption Other
earnings reserve reserves Totals
£    £    £    £   

At 1 September 2023 2,801,266 2,084 (30,553 ) 2,772,797
Profit for the year 2,048,884 2,048,884
Dividends (55,811 ) (55,811 )
Purchase of own shares (149,148 ) 222 - (148,926 )
At 31 August 2024 4,645,191 2,306 (30,553 ) 4,616,944


20. ULTIMATE PARENT COMPANY

Markey Holdings Limited is regarded by the directors as being the company's ultimate parent company.

The registered office address of Markey Holdings Limited is Radleigh House, 1 Golf Road, Clarkston, Glasgow, G76 7HU. Accounts for Markey Holdings Limited can be obtained from Companies House, 4th Floor, Edinburgh Quay 2, 139 Fountainbridge, Edinburgh, EH3 9FF.