Akari Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC615571 (Scotland)

AKARI SOLUTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

M M Totten

K Totten

L Climson

K L Murphy

N Bell

R A E Stuart

K L Inch

REGISTERED OFFICE:

Fortune House

74 Waterloo Street

Glasgow

G2 7DJ

REGISTERED NUMBER:

SC615571 (Scotland)

ACCOUNTANTS:

Hardie Caldwell LLP

Chartered Accountants

Citypoint 2

25 Tyndrum Street

Glasgow

G4 0JY

FIXED ASSETS

Tangible assets

4

17,154

4,988

CURRENT ASSETS

Debtors

5

375,739

234,903

Cash at bank

67,758

30,234

443,497

265,137

CREDITORS

Amounts falling due within one year

6

(450,436

)

(172,181

)

NET CURRENT (LIABILITIES)/ASSETS

(6,939

)

92,956

TOTAL ASSETS LESS CURRENT LIABILITIES

10,215

97,944

CREDITORS

Amounts falling due after more than one year

7

(38,371

)

(42,500

)

PROVISIONS FOR LIABILITIES

(3,259

)

-

NET (LIABILITIES)/ASSETS

(31,415

)

55,444

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

(31,417

)

55,442

SHAREHOLDERS' FUNDS

(31,415

)

55,444

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 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 25 November 2022 and were signed on its behalf by:

K L Murphy - Director

1.	STATUTORY INFORMATION

Akari Solutions Limited is a private company, limited by shares, registered in Scotland. The company's registered number is SC615571and its registered office is 51 Hillfield Drive, Newton Mearns, Glasgow, Scotland, G77 6G.

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.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. They continue to believe the going concern basis of accounting appropriate in preparing the annual financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable.

Turnover represents the net invoiced sales of services excluding value added tax from the provision of information technology services.

Tangible fixed assets

Depreciation of fixed assets is calculated to write off the cost or valuation less any residual value over their estimated useful lives as follows:

Computer equipment

50% straight line

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.

Financial instruments

Debtors

Trade and other debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence that the asset is impaired.

Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at bank with a short term of maturity, being twelve months or less, from the opening of the deposit or similar account.

Creditors

Trade and other creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

Loans

Loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Government grants

Government grants are recognised in the profit and loss account so as to match them with the expenditure towards which they are intended to contribute.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2021 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2021

13,888

Additions

20,620

At 28 February 2022

34,508

DEPRECIATION

At 1 March 2021

8,900

Charge for year

8,454

At 28 February 2022

17,354

NET BOOK VALUE

At 28 February 2022

17,154

At 28 February 2021

4,988

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

132,721

132,201

Other debtors

243,018

102,702

375,739

234,903

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

10,000

7,278

Trade creditors

101,977

17,577

Taxation and social security

44,394

27,017

Other creditors

294,065

120,309

450,436

172,181

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

38,371

42,500

2022

2021

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

-

2,500

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

2

Ordinary

£1

2

2

9.	OTHER FINANCIAL COMMITMENTS

The operating leases commitment over the remaining life of the lease is £16,865 (2021-nil).

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Akari Solutions Limited for the year ended 28 February 2022 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Akari Solutions Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Akari Solutions Limited and state those matters that we have agreed to state to the Board of Directors of Akari Solutions Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Akari Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Akari Solutions Limited. You consider that Akari Solutions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Akari Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Hardie Caldwell LLP

Chartered Accountants

Citypoint 2

25 Tyndrum Street

Glasgow

G4 0JY

25 November 2022