AK Residential Investments Limited 31/03/2023 iXBRL

AK Residential Investments Limited 31/03/2023 iXBRL

AK RESIDENTIAL INVESTMENTS LIMITED - Company Information

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0 31/03/2023 2023-03-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-04-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 13392287 2022-04-01 2023-03-31 13392287 2023-03-31 13392287 2022-03-31 13392287 2021-04-01 2022-03-31 13392287 2022-03-31 13392287 bus:RegisteredOffice 2022-04-01 2023-03-31 13392287 bus:Director1 2022-04-01 2023-03-31 13392287 core:FurnitureFittingsToolsEquipment 2022-03-31 13392287 core:LandBuildings core:LongLeaseholdAssets 2023-03-31 13392287 core:FurnitureFittingsToolsEquipment 2023-03-31 13392287 core:ShareCapital 2021-04-01 2022-03-31 13392287 core:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 13392287 core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 13392287 core:WithinOneYear 2023-03-31 13392287 core:WithinOneYear 2022-03-31 13392287 core:AfterOneYear 2023-03-31 13392287 core:AfterOneYear 2022-03-31 13392287 core:ShareCapital 2023-03-31 13392287 core:ShareCapital 2022-03-31 13392287 core:RetainedEarningsAccumulatedLosses 2023-03-31 13392287 core:RetainedEarningsAccumulatedLosses 2022-03-31 13392287 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 13392287 core:LandBuildings core:LongLeaseholdAssets 2022-03-31 13392287 core:FurnitureFittingsToolsEquipment 2022-03-31 13392287 bus:SmallEntities 2022-04-01 2023-03-31 13392287 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 13392287 bus:FullAccounts 2022-04-01 2023-03-31 13392287 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 13392287 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31
Company registration number: 13392287
AK Residential Investments Limited
Unaudited filleted financial statements
31 March 2023
AK Residential Investments Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
AK Residential Investments Limited
Directors and other information
Director Mr M Woolley
Company number 13392287
Registered office 14 Wray Mill House
Batts Hill
Reigate
Surrey
RH2 0LJ
AK Residential Investments Limited
Statement of financial position
31 March 2023
31/03/23 31/03/22
Note £ £ £ £
Fixed assets
Tangible assets 4 1,832,940 1,838,212
_______ _______
1,832,940 1,838,212
Current assets
Debtors 5 14,443 25,477
Cash at bank and in hand 62,193 -
_______ _______
76,636 25,477
Creditors: amounts falling due
within one year 6 ( 40,818) ( 40,740)
_______ _______
Net current assets/(liabilities) 35,818 ( 15,263)
_______ _______
Total assets less current liabilities 1,868,758 1,822,949
Creditors: amounts falling due
after more than one year 7 ( 1,822,514) ( 1,822,514)
_______ _______
Net assets 46,244 435
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 46,144 335
_______ _______
Shareholder funds 46,244 435
_______ _______
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 15 August 2023 , and are signed on behalf of the board by:
Mr M Woolley
Director
Company registration number: 13392287
AK Residential Investments Limited
Statement of changes in equity
Year ended 31 March 2023
Called up share capital Profit and loss account Total
£ £ £
At 12 May 2021 - - -
Profit for the year 335 335
_______ _______ _______
Total comprehensive income for the year - 335 335
Issue of shares 100 100
_______ _______ _______
Total investments by and distributions to owners 100 - 100
_______ _______ _______
At 31 March 2022 and 1 April 2022 100 335 435
Profit for the year 45,809 45,809
_______ _______ _______
Total comprehensive income for the year - 45,809 45,809
_______ _______ _______
At 31 March 2023 100 46,144 46,244
_______ _______ _______
AK Residential Investments Limited
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 14 Wray Mill House, Batts Hill, Reigate, Surrey, RH2 0LJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at cost.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Tangible assets
Long leasehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 April 2022 and 31 March 2023 1,817,126 26,358 1,843,484
_______ _______ _______
Depreciation
At 1 April 2022 - 5,272 5,272
Charge for the period - 5,272 5,272
_______ _______ _______
At 31 March 2023 - 10,544 10,544
_______ _______ _______
Carrying amount
At 31 March 2023 1,817,126 15,814 1,832,940
_______ _______ _______
At 31 March 2022 1,817,126 21,086 1,838,212
_______ _______ _______
5. Debtors
31/03/23 31/03/22
£ £
Other debtors 14,443 25,477
_______ _______
6. Creditors: amounts falling due within one year
31/03/23 31/03/22
£ £
Corporation tax 11,106 -
Other creditors 29,712 40,740
_______ _______
40,818 40,740
_______ _______
7. Creditors: amounts falling due after more than one year
31/03/23 31/03/22
£ £
Other creditors 1,822,514 1,822,514
_______ _______
8. Related party transactions
Monies due under Other Creditors after one year, represent interest free loans by shareholders and associated Parties which are only repayable after due notice of one year and one day and as the date of signing of these Accounts, no such notice has been received.