AKL Financial Management Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC357259 (Scotland)

Unaudited Financial Statements

for the Year Ended 30 April 2020

for

AKL Financial Management Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A Livingstone

SECRETARY:

Mrs K M Livingstone

REGISTERED OFFICE:

26 Loch Drive

Helensburgh

G84 8PY

REGISTERED NUMBER:

SC357259 (Scotland)

ACCOUNTANTS:

Macleod Fulton

Scottcourt House

West Princes Street

Helensburgh

Argyll & Bute

G84 8BP

FIXED ASSETS

Tangible assets

4

579

1,442

Investments

5

20,000

20,000

20,579

21,442

CURRENT ASSETS

Debtors

6

1,610

1,284

Cash at bank

48,013

36,999

49,623

38,283

CREDITORS

Amounts falling due within one year

7

11,358

8,670

NET CURRENT ASSETS

38,265

29,613

TOTAL ASSETS LESS CURRENT LIABILITIES

58,844

51,055

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

58,834

51,045

SHAREHOLDERS' FUNDS

58,844

51,055

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 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 Income Statement has not been delivered.

The financial statements were approved by the director on 3 June 2020 and were signed by:

A Livingstone - Director

1.	STATUTORY INFORMATION

AKL Financial Management Ltd is a private company, limited by shares , registered in Scotland. 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.

Plant and machinery etc

-

33% on reducing balance and 25% on reducing balance

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 year was 1 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 May 2019

and 30 April 2020

660

6,699

7,359

DEPRECIATION

At 1 May 2019

504

5,413

5,917

Charge for year

39

824

863

At 30 April 2020

543

6,237

6,780

NET BOOK VALUE

At 30 April 2020

117

462

579

At 30 April 2019

156

1,286

1,442

5.	FIXED ASSET INVESTMENTS

The market value of the Fixed asset investment is £24,202 as at 15 February 2020, the directors believe that the

the value as at 30 April 2020 will not be materially different.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

as restated

£

£

Other debtors

1,610

1,284

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

as restated

£

£

Taxation and social security

9,648

6,990

Other creditors

1,710

1,680

11,358

8,670

8.	CONTINGENT LIABILITIES

As at 30 April 2020, the company had no contingent liabilities. (2019 - £nil)

9.	CAPITAL COMMITMENTS

As at 30 April 2020, the company had no capital commitments. (2019 - £nil)

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £32,700 (2019 - £27,800) were paid to the director .