Company Registration No. 07857996 (England and Wales)
AKIN & FUNKE LAOSUN FOUNDATION
Unaudited accounts
for the year ended 30 November 2021
AKIN & FUNKE LAOSUN FOUNDATION
Unaudited accounts
Contents
AKIN & FUNKE LAOSUN FOUNDATION
Company Information
for the year ended 30 November 2021
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
AKIN & FUNKE LAOSUN FOUNDATION
Statement of financial position
as at 30 November 2021
Tangible assets
428,424
427,403
Cash at bank and in hand
1,271
7,345
Creditors: amounts falling due within one year
(31,267)
(25,427)
Net current liabilities
(29,996)
(18,082)
Total assets less current liabilities
398,428
409,321
Creditors: amounts falling due after more than one year
(493,175)
(493,175)
Net liabilities
(94,747)
(83,854)
Profit and loss account
(94,747)
(83,854)
Members' funds
(94,747)
(83,854)
For the year ending 30 November 2021 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.
The financial statements were approved by the Board of Directors and authorised for issue on 9 August 2022 and were signed on its behalf by
MR AKINWALE LAOSUN
Director
Company Registration No. 07857996
AKIN & FUNKE LAOSUN FOUNDATION
Notes to the Accounts
for the year ended 30 November 2021
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 December 2020
491,175
-
491,175
At 30 November 2021
491,175
12,500
503,675
At 1 December 2020
63,772
-
63,772
Charge for the year
8,354
3,125
11,479
At 30 November 2021
72,126
3,125
75,251
At 30 November 2021
419,049
9,375
428,424
At 30 November 2020
427,403
-
427,403
5
Creditors: amounts falling due within one year
2021
2020
Loans from directors
30,727
25,127
AKIN & FUNKE LAOSUN FOUNDATION
Notes to the Accounts
for the year ended 30 November 2021
6
Creditors: amounts falling due after more than one year
2021
2020
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
2021
2020
There were no capital commitments at the end of the period.
At the date of the balance sheet there were no contingent liabilities.
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 (2020: 0).
