| A.K (Devon) Ltd |
| Registered number: |
09728607 |
| Balance Sheet |
| as at 31 March 2026 |
|
| Notes |
|
|
2026 |
|
|
2025 |
| £ |
£ |
| Fixed assets |
| Investments |
3 |
|
|
1,800,000 |
|
|
2,000,000 |
|
| Current assets |
| Debtors |
4 |
|
9,632 |
|
|
26,354 |
| Cash at bank and in hand |
|
|
91,278 |
|
|
48,550 |
|
|
|
100,910 |
|
|
74,904 |
|
| Creditors: amounts falling due within one year |
5 |
|
(1,085,819) |
|
|
(1,058,448) |
|
| Net current liabilities |
|
|
|
(984,909) |
|
|
(983,544) |
|
| Total assets less current liabilities |
|
|
|
815,091 |
|
|
1,016,456 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(391,938) |
|
|
(484,236) |
|
|
|
| Net assets |
|
|
|
423,153 |
|
|
532,220 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1 |
|
|
1 |
| Fair value reserve |
8 |
|
|
(426,743) |
|
|
(226,743) |
| Profit and loss account |
|
|
|
849,895 |
|
|
758,962 |
|
| Shareholder's funds |
|
|
|
423,153 |
|
|
532,220 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| A R King |
| Director |
| Approved by the board on 29 August 2026 |
|
| A.K (Devon) Ltd |
| Notes to the Accounts |
| for the year ended 31 March 2026 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £. |
|
|
Turnover |
|
Turnover represents the value of property management charges receivable during the year. |
|
|
Investments properties |
|
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. |
|
|
Debtors and creditors receivable/payable within one year |
|
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
|
| 2 |
Employees |
2026 |
|
2025 |
| Number |
Number |
|
|
Average number of persons employed by the company |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
| 3 |
Investments |
|
| Other |
| investments |
| £ |
|
Cost/Fair Value |
|
At 1 April 2025 |
2,000,000 |
|
Additions and fair value adjustment |
(200,000) |
|
|
At 31 March 2026 |
1,800,000 |
|
|
|
|
|
|
|
|
|
|
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The methods and significant assumptions used to ascertain the fair value of £1,800,000 and fair value movement of £200,000 (2025 £Nil) net of deferred tax of £Nil (2025 £Nil) included in the profit and loss for the year ended 31st March 2026 are as detailed above.
The company's investment properties were valued by the company's director, Mr A R King, on the basis of their fair value for existing use. |
|
| 4 |
Debtors |
2026 |
|
2025 |
| £ |
£ |
|
|
Trade debtors |
- |
|
2,201 |
|
Other debtors |
9,632 |
|
24,153 |
|
|
|
|
|
|
9,632 |
|
26,354 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2026 |
|
2025 |
| £ |
£ |
|
|
Bank loans and overdrafts |
88,926 |
|
85,044 |
|
Trade creditors |
- |
|
25 |
|
Other taxes and social security costs |
38,723 |
|
34,530 |
|
Other creditors |
958,170 |
|
938,849 |
|
|
|
|
|
|
1,085,819 |
|
1,058,448 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2026 |
|
2025 |
| £ |
£ |
|
|
Bank loans |
391,938 |
|
484,236 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Loans |
2026 |
|
2025 |
| £ |
£ |
|
Creditors include: |
|
Instalments falling due for payment after more than five years |
- |
|
40,717 |
|
|
|
|
|
|
|
|
|
|
|
Secured bank loans |
480,863 |
|
569,279 |
|
|
|
|
|
|
|
|
|
|
The loans are secured over the investment properties which it relates to. |
|
|
| 8 |
Fair value reserve |
2026 |
|
2025 |
| £ |
£ |
|
|
At 1 April 2025 |
(226,743) |
|
(226,743) |
|
Transfer of unrealised fair value adjustment to profit and loss account |
(200,000) |
|
- |
|
|
At 31 March 2026 |
(426,743) |
|
(226,743) |
|
|
|
|
|
|
|
|
|
|
| 9 |
Other information |
|
|
A.K (Devon) Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
|
27 Couper Meadows |
|
Exeter |
|
Devon |
|
EX2 7TF |