AKK Investments Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07523736 (England and Wales)

AKK INVESTMENTS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2019 TO 29 MARCH 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

Mrs S G Rauf

M Saleem

Registered office:

234-236 High Road

Willesden

London

NW10 2NX

Registered number:

07523736 (England and Wales)

Accountants:

M. Parmar & Co.

Chartered Accountants

First Floor

244 Edgware Road

London

W2 1DS

Fixed assets

Tangible assets

4

14,395

19,193

Investment property

5

2,467,579

2,467,579

2,481,974

2,486,772

Current assets

Debtors

6

20,066

40,229

Cash at bank

58,757

439,642

78,823

479,871

Creditors

Amounts falling due within one year

7

91,273

59,270

Net current (liabilities)/assets

(12,450

)

420,601

Total assets less current liabilities

2,469,524

2,907,373

Creditors

Amounts falling due after more than one year

8

(1,637,695

)

(2,182,046

)

Provisions for liabilities

-

(3,647

)

Net assets

831,829

721,680

Capital and reserves

Called up share capital

100

100

Retained earnings

831,729

721,580

831,829

721,680

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 March 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 March 2020 in accordance with Section 476 of the Companies Act 2006.

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 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.

The financial statements were approved by the Board of Directors and authorised for issue on 29 March 2021 and were signed on its behalf by:

Mrs S G Rauf - Director

1.	Statutory information

AKK Investments Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

Taxation

Taxation for the period 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 period 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.

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 or loss in the period to which they relate.

3.	Employees and directors

The average number of employees during the period was 1 (2019 - 1 ) .

4.	Tangible fixed assets

Plant and

machinery

etc

£

Cost

At 1 April 2019

and 29 March 2020

25,590

Depreciation

At 1 April 2019

6,397

Charge for period

4,798

At 29 March 2020

11,195

Net book value

At 29 March 2020

14,395

At 31 March 2019

19,193

5.	Investment property

Total

£

Fair value

At 1 April 2019

and 29 March 2020

2,467,579

Net book value

At 29 March 2020

2,467,579

At 31 March 2019

2,467,579

6.

Debtors: amounts falling due within one year

2020

2019

£

£

Trade debtors

16,200

40,229

Other debtors

3,866

-

20,066

40,229

7.

Creditors: amounts falling due within one year

2020

2019

£

£

Bank loans and overdrafts

60,000

-

Trade creditors

-

37,523

Taxation and social security

26,963

21,747

Other creditors

4,310

-

91,273

59,270

8.

Creditors: amounts falling due after more than one year

2020

2019

£

£

Bank loans

230,000

352,046

Other creditors

1,407,695

1,830,000

1,637,695

2,182,046