| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 30th June 2025 |
| for |
| AKSWard Limited |
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 30th June 2025 |
| for |
| AKSWard Limited |
| AKSWard Limited (Registered number: 05433208) |
| Contents of the Financial Statements |
| for the year ended 30th June 2025 |
| 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 30th June 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Suite A |
| 1-3 Canfield Place |
| London |
| NW6 3BT |
| AKSWard Limited (Registered number: 05433208) |
| Balance Sheet |
| 30th June 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Other reserves | 11 | ( |
) | ( |
) |
| Capital Redemption Reserve | 11 |
| Retained earnings | 11 |
| 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. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| AKSWard Limited (Registered number: 05433208) |
| Notes to the Financial Statements |
| for the year ended 30th June 2025 |
| 1. | STATUTORY INFORMATION |
| AKSWard Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 equipment | between 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 30th June 2025 |
| 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 30th June 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Work in progress |
| The company records 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. |
| 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 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1st July 2024 |
| Additions |
| At 30th June 2025 |
| DEPRECIATION |
| At 1st July 2024 |
| Charge for year |
| At 30th June 2025 |
| NET BOOK VALUE |
| At 30th June 2025 |
| At 30th June 2024 |
| 5. | FIXED ASSET INVESTMENTS |
| Unlisted |
| investments |
| £ |
| COST |
| At 1st July 2024 |
| and 30th June 2025 |
| NET BOOK VALUE |
| At 30th June 2025 |
| At 30th June 2024 |
| AKSWard Limited (Registered number: 05433208) |
| Notes to the Financial Statements - continued |
| for the year ended 30th June 2025 |
| 5. | FIXED ASSET INVESTMENTS - continued |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Associated company |
| Registered office: |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2025 | 2024 |
| £ | £ |
| Aggregate capital and reserves | ( |
) | ( |
) |
| Loss for the year | ( |
) | ( |
) |
| The current year's company information for Corde Limited is based on the filed accounts for the year ended 30 June 2024, as the financial statements for the period ended 30 June 2025 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 |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Tax |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Social security and other taxes |
| VAT | 92,550 | 107,513 |
| Other creditors |
| Accruals and deferred income |
| Accrued expenses |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2025 | 2024 |
| £ | £ |
| Due Within 1 Year | 184,316 | 191,690 |
| Due between one and two years | 137,162 | 162,190 |
| Due within two and five years | 25,074 | 132,736 |
| Due in more than five years | - | - |
| 346,552 | 486,616 |
| AKSWard Limited (Registered number: 05433208) |
| Notes to the Financial Statements - continued |
| for the year ended 30th June 2025 |
| 9. | 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. |
| 10. | PROVISIONS FOR LIABILITIES |
| 2025 | 2024 |
| £ | £ |
| Deferred tax | 11,632 | 16,251 |
| Other provisions | 73,500 | 35,000 |
| Deferred | Other |
| tax | provisions |
| £ | £ |
| Balance at 1st July 2024 |
| Provided during year | ( |
) |
| Balance at 30th June 2025 |
| Other provisions represent the likely expenses payable in regard of professional indemnity insurance matters. |
| 11. | RESERVES |
| Capital |
| Retained | Other | Redemption |
| earnings | reserves | Reserve | Totals |
| £ | £ | £ | £ |
| At 1st July 2024 | ( |
) | 1,013,871 |
| Deficit for the year | ( |
) | ( |
) |
| At 30th June 2025 | ( |
) | 520,197 |
| 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. |
| 12. | 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 30th June 2025 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. |
| Suite A |
| 1-3 Canfield Place |
| London |
| NW6 3BT |