AKIN & FUNKE LAOSUN FOUNDATION

AKIN & FUNKE LAOSUN FOUNDATION

AKIN & FUNKE LAOSUN FOUNDATION - Company Information

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1 December 2017 false No description of principal activity Taxfiler 2019.8.Web 07857996business:CompanyLimitedByGuarantee2017-12-012018-11-30 078579962017-11-30 078579962017-12-012018-11-30 07857996business:AuditExempt-NoAccountantsReport2017-12-012018-11-30 07857996business:FullAccounts2017-12-012018-11-30 078579962018-11-30 07857996business:Director12017-12-012018-11-30 07857996business:Director22017-12-012018-11-30 07857996business:RegisteredOffice2017-12-012018-11-30 078579962017-11-30 07857996core:WithinOneYear2018-11-30 07857996core:WithinOneYear2017-11-30 07857996core:AfterOneYear2018-11-30 07857996core:AfterOneYear2017-11-30 07857996core:RetainedEarningsAccumulatedLosses2018-11-30 07857996core:RetainedEarningsAccumulatedLosses2017-11-30 07857996business:SmallEntities2017-12-012018-11-30 07857996countries:EnglandWales2017-12-012018-11-30 07857996core:LandBuildings2017-11-30 07857996core:LandBuildings2018-11-30 07857996core:LandBuildings2017-12-012018-11-30 07857996core:AfterOneYear2017-12-012018-11-30 078579962016-12-012017-11-30 iso4217:GBP xbrli:pure
Company Registration No. 07857996 (England and Wales)
AKIN & FUNKE LAOSUN FOUNDATION Unaudited accounts for the year ended 30 November 2018
AKIN & FUNKE LAOSUN FOUNDATION Unaudited accounts Contents
Page
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AKIN & FUNKE LAOSUN FOUNDATION Company Information for the year ended 30 November 2018
Directors
MR AKINWALE LAOSUN MRS CAROLE LAOSUN
Company Number
07857996 (England and Wales)
Registered Office
17 GILBERT ROAD CHAFFORD HUNDRED GRAYS ESSEX RM16 6NN
Accountants
AA MATTHEW & CO NEWSPRING HOUSE 3 WORCESTER AVENUE OLD SWAN LIVERPOOL L13 9AZ
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AKIN & FUNKE LAOSUN FOUNDATION Statement of financial position as at 30 November 2018
2018 
2017 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
444,111 
452,465 
Current assets
Cash at bank and in hand
3,875 
1,609 
Creditors: amounts falling due within one year
5
(17,159)
(2,930)
Net current liabilities
(13,284)
(1,321)
Total assets less current liabilities
430,827 
451,144 
Creditors: amounts falling due after more than one year
6
(493,175)
(493,175)
Net liabilities
(62,348)
(42,031)
Reserves
7
Profit and loss account
(62,348)
(42,031)
Members' funds
(62,348)
(42,031)
For the year ending 30 November 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 20 June 2019.
MR AKINWALE LAOSUN Director Company Registration No. 07857996
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AKIN & FUNKE LAOSUN FOUNDATION Notes to the Accounts for the year ended 30 November 2018
1
Statutory information
AKIN & FUNKE LAOSUN FOUNDATION is a private company, limited by guarantee, registered in England and Wales, registration number 07857996. The registered office is 17 GILBERT ROAD, CHAFFORD HUNDRED, GRAYS ESSEX, RM16 6NN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Land & buildings 
£ 
Cost or valuation
At cost 
At 1 December 2017
491,175 
At 30 November 2018
491,175 
Depreciation
At 1 December 2017
38,710 
Charge for the year
8,354 
At 30 November 2018
47,064 
Net book value
At 30 November 2018
444,111 
At 30 November 2017
452,465 
5
Creditors: amounts falling due within one year
2018 
2017 
£ 
£ 
Loans from directors
16,709 
2,630 
Accruals
450 
300 
17,159 
2,930 
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AKIN & FUNKE LAOSUN FOUNDATION Notes to the Accounts for the year ended 30 November 2018
6
Creditors: amounts falling due after more than one year
2018 
2017 
£ 
£ 
Other creditors
493,175 
493,175 
Direction's loan due more than one year.
7
Company limited by guarantee
The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
8
Capital commitments
2018 
2017 
£ 
£ 
There were no capital commitments at the end of the period.
9
Contingent liabilities
At the date of the balance sheet there were no contingent liabilities.
10
Loans to directors
There were no Directors Advances and credits therefore terms of credit and interest rates did not arise in the period.
11
Guarantees provided on behalf of directors
The Directors did not guarantee any corporate liabilities primarily the company's obligations.
12
Average number of employees
During the year the average number of employees was 0 (2017: 0).
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