Acksen Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: NI019167 (Northern Ireland)

Unaudited Financial Statements for the Year Ended 31 December 2022

for

Acksen Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

K M Stafford

SECRETARY:

Dr G W G Mc Dowell

REGISTERED OFFICE:

5 Sequoia Heights

Whiteabbey

NEWTOWNABBEY

BT37 0QX

REGISTERED NUMBER:

NI019167 (Northern Ireland)

ACCOUNTANTS:

Minshull & Co

19 Crescent Business Park

LISBURN

Co. Antrim

BT28 2GN

FIXED ASSETS

Tangible assets

5

941

1,414

CURRENT ASSETS

Stocks

6

9,750

10,500

Debtors

7

27,653

43,538

Cash at bank and in hand

59,250

105,353

96,653

159,391

CREDITORS

Amounts falling due within one year

8

20,441

17,394

NET CURRENT ASSETS

76,212

141,997

TOTAL ASSETS LESS CURRENT LIABILITIES

77,153

143,411

CREDITORS

Amounts falling due after more than one year

9

24,000

24,000

NET ASSETS

53,153

119,411

CAPITAL AND RESERVES

Called up share capital

11

1,000

1,000

Share premium

12

16,000

16,000

Retained earnings

12

36,153

102,411

SHAREHOLDERS' FUNDS

53,153

119,411

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 August 2023 and were signed by:

K M Stafford - Director

1.	STATUTORY INFORMATION

Acksen Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Improvements to property

-

10% on cost

Plant and machinery

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

property

machinery

Totals

£

£

£

COST

At 1 January 2022

9,500

35,832

45,332

Additions

-

564

564

At 31 December 2022

9,500

36,396

45,896

DEPRECIATION

At 1 January 2022

9,216

34,702

43,918

Charge for year

284

753

1,037

At 31 December 2022

9,500

35,455

44,955

NET BOOK VALUE

At 31 December 2022

-

941

941

At 31 December 2021

284

1,130

1,414

6.

STOCKS

31/12/22

31/12/21

£

£

Stocks

9,750

10,500

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/22

31/12/21

£

£

Trade debtors

26,442

33,231

Tax

-

10,307

VAT

1,211

-

27,653

43,538

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/22

31/12/21

£

£

Bank loans and overdrafts (see note 10)

100

400

Trade creditors

12,963

10,785

Social security and other taxes

2,654

2,700

VAT

-

1,785

Accruals and deferred income

4,724

1,724

20,441

17,394

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/22

31/12/21

£

£

Other loans (see note 10)

24,000

24,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

24,000

24,000

10.

LOANS

An analysis of the maturity of loans is given below:

31/12/22

31/12/21

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

100

400

31/12/22

31/12/21

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

24,000

24,000

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/22

31/12/21

value:

£

£

10,000

Ordinary

0.1

1,000

1,000

12.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 January 2022

102,411

16,000

118,411

Deficit for the year

(66,258

)

(66,258

)

At 31 December 2022

36,153

16,000

52,153

13.	RELATED PARTY DISCLOSURES

The controlling party is K M Stafford.

The loan of £24,000, disclosed in the notes above, was advanced by QUBIS Limited, a shareholder in the company.