| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| For The Year Ended 30th September 2024 |
| for |
| Akkeri Developments (Kilham) Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| For The Year Ended 30th September 2024 |
| for |
| Akkeri Developments (Kilham) Limited |
| Akkeri Developments (Kilham) Limited (Registered number: 13520926) |
| Contents of the Financial Statements |
| For The Year Ended 30th September 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Akkeri Developments (Kilham) Limited |
| Company Information |
| For The Year Ended 30th September 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 4 Old Market Place |
| Ripon |
| North Yorkshire |
| HG4 1EQ |
| Akkeri Developments (Kilham) Limited (Registered number: 13520926) |
| Balance Sheet |
| 30th September 2024 |
| 30.9.24 | 30.9.23 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Stocks |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
6 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| Akkeri Developments (Kilham) Limited (Registered number: 13520926) |
| Balance Sheet - continued |
| 30th September 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Akkeri Developments (Kilham) Limited (Registered number: 13520926) |
| Notes to the Financial Statements |
| For The Year Ended 30th September 2024 |
| 1. | STATUTORY INFORMATION |
| Akkeri Developments (Kilham) Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Functional and presentational currency |
| These financial statements are presented in Great British Pounds, which is the company's functional currency. All financial information presented in Great British Pounds has been rounded to the nearest pound. |
| Going Concern |
| These financial statements have been prepared on a going concern basis, which assumes that the company will be able to meet all its obligations as and when they fall due for the foreseeable future. The directors have undertaken an assessment of the cashflow requirements after making appropriate enquiries including considering the current uncertainties in the residential housing market, sensitivity analysis of changes in interest rates and the continued availability of loan facilities. After undertaking this assessment, which is updated on a regular basis, the directors have a reasonable expectation that the company has the financial resources to meet its obligations as they fall due and therefore consider it appropriate to adopt the going concern basis for these financial statements |
| 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. |
| Revenue |
| Revenue from the sale of residential properties is recognised at legal completion. Revenue is measured at the fair value of consideration received or receivable and represents the amounts receivable for the property, net of discounts and VAT. |
| Stocks |
| Stock is valued at the lower of cost and net realisable value. Land held for development, including land in the course of development, is held at cost which includes direct costs of purchase. Cost of construction work in progress comprises costs incurred under construction contracts, direct labour and direct materials and those overhead costs that have been incurred in bringing the inventories to their present location and condition. Overhead costs include roads and other infrastructure costs required for a site and local contributions and physical works required under planning permissions granted for developments. |
| 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. |
| Akkeri Developments (Kilham) Limited (Registered number: 13520926) |
| Notes to the Financial Statements - continued |
| For The Year Ended 30th September 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Debtors and creditors receivable / payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| Loans and borrowings |
| Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. |
| The costs of borrowing are expensed as incurred. |
| Impairment |
| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
| Provisions |
| Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.9.24 | 30.9.23 |
| £ | £ |
| VAT |
| Akkeri Developments (Kilham) Limited (Registered number: 13520926) |
| Notes to the Financial Statements - continued |
| For The Year Ended 30th September 2024 |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Homes England loan facility |
| Trade creditors |
| Amounts owed to parent company |
| Deposits held | - | 13,088 |
| Retentions |
| Accrued expenses |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Retentions |
| 7. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Homes England loan facility |
| Fixed and floating charge over all property, assets and undertaking of the company. |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30.9.24 | 30.9.23 |
| value: | £ | £ |
| Ordinary | 0.01 | 10 | 10 |