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Registered Number: 14745425
England and Wales

 

 

 

AKINOLA FOODS STROOD LIMITED



Abridged Accounts
 


Period of accounts

Start date: 21 March 2023

End date: 31 March 2024
Accountants report:  You consider that the company is exempt from an audit for the year financial year period ended 31 March 2024. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.



....................................................
PAUL EBHODAGHE ONO
UNIT 203A
ISLAND BUSINESS CENTRE
18 - 36 WELLINGTON STREET
LONDON
SE18 6PF
10 June 2025
1
 
 
Notes
 
2024
£
Fixed assets    
Tangible fixed assets 6 31,500 
31,500 
Current assets    
Debtors 2,250 
Net current assets 2,250 
 
Total assets less current liabilities 33,750 
Net assets 33,750 
 

Capital and reserves
   
Capital Redemption Reserve 28,650 
Profit and loss account 5,100 
Shareholders' funds 33,750 
 


For the accounting year period ended 31 March 2024, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the financial year period ended 31 March 2014 in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts during the financial year ended 31 March 2024.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 09 June 2025 and were signed by:


-------------------------------
Deborah BAKARE
Director
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General Information
Akinola Foods Strood Limited is a Private Limited Company, and it is registered in England and Wales. The Company Registration Number is 14745425. The registration address is 128 City Road, London, EC1V 2NX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements ended 31 March 2024 are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company to third parties during the financial year ended 31 March 2024, exclusive of Value Added Tax and trade discounts. 
Cost of sales
Cost of Sales represents the cost of services rendered to third parties during the financial year period ended 31 March 2024.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Computer software development costs
Development costs of computer software are capitalised once a detailed program design has been established and are amortised on a straight line basis over 10 years.
Tangible fixed assets
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: Fixtures & fittings, plant & machinery - such as fridge, deep freezer, cold room computer, printer and laptop at the cost of £35,000 and 10% Straight Line for over 10 years - reducing Balance.
Plant and Machinery 10% /10 years Reducing Balance
Fixtures and Fittings 10% /10 years Reducing Balance
Computer Equipment 10% /10 years Reducing Balance
2.

Directors' Emoluments

2024
£
Administrative Expenses
Directors Salaries 8,500 
8,500 
Number of directors to whom retirement benefits accrued Number
Defined contribution plans 1 
Defined benefit plans 1 
Directors Emoluments are either salaries or dividends paid to the directors of the company during the financial year period ended 31 March 2024. 

3.

Staff Costs

2024
£
Wages and salaries 8,500 
Other staff costs 12,700 
21,200 
Average number of employees during the period Number
Administration 1 
Marketing 1 
Staff Costs are costs incurred by the company in payment of employees and staff salaries including staff training during the financial year ended 31 March 2024.  

4.

Average number of employees

The average number of employees employed by the company during the financial year period ended 31 March 2024 was one.
Average number of employees during the period was 2.
5.

Financial Commitments, Guarantees and Contingencies

The Director is committed to growing the business with the necessary funds, tools, manpower and skills to ensure it remains a successful business. 

6.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 21 March 2023      
Additions 20,000    10,000    5,000    35,000 
Disposals      
At 31 March 2024 20,000    10,000    5,000    35,000 
Depreciation
At 21 March 2023      
Charge for period 2,000    1,000    500    3,500 
On disposals      
At 31 March 2024 2,000    1,000    500    3,500 
Net book values
Closing balance as at 31 March 2024 18,000    9,000    4,500    31,500 
Opening balance as at 21 March 2023      


7.

Share Capital

Allotted, called up and fully paid
2024
£
100 Class A shares of £1.00 each 100 
100 

8.

Advances and Credits



Director's Loan to Akinola Foods Strood Limited
The director of the company, Ms Deborah Bakare loaned the sums of £25,000 to the company - Akinola Foods Strood Limited from savings to fund and to kickstart the business activities and other retail sale of food in specialised stores. The loan was also used to finance market research, the long-term tangible assets such as plant & machinery that included fridge, deep freezer, cold room, fixtures & fittings, computer & equipment, etc. The business will start paying back the loan once it starts making profits in subsequent future years.

Current year (2024)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
Director's Loan to Akinola Foods Strood Limited25,000 25,000 
025000000025000
9.

Director’s loan

The Director's Loan to the Company

The director of the company, Ms. Deborah Bakare loaned the sums of £25,000 to the company - Akinola Foods Strood Limited from savings to fund and to kickstart the business activities and other retail sale of food in specialised stores. The loan was also used to finance market research, the long-term tangible assets such as plant & machinery that included fridge, deep freezer, cold room, fixtures & fittings, computer & equipment, etc. The business will start paying back the loan once it starts making profits in subsequent future years.
3