Akoma International (UK) Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04526670 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 September 2015

for

Akoma International (UK) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

A W Klufio

REGISTERED OFFICE:

Unit 9a Sawley Park

Nottingham Road

Derby

Derbyshire

DE21 6AS

REGISTERED NUMBER:

04526670 (England and Wales)

ACCOUNTANTS:

Bourne & Co

Chartered Accountants

6 Lichfield Street

Burton-on-Trent

Staffordshire

DE14 3RD

FIXED ASSETS

Tangible assets

2

275,743

248,593

CURRENT ASSETS

Stocks

8,067

9,000

Debtors

44,989

50,219

Cash at bank

7,449

33,182

60,505

92,401

CREDITORS

Amounts falling due within one year

3

148,132

127,798

NET CURRENT LIABILITIES

(87,627

)

(35,397

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

188,116

213,196

CREDITORS

Amounts falling due after more than
one year

3

(104,454

)

(136,302

)

PROVISIONS FOR LIABILITIES

(7,178

)

(7,326

)

NET ASSETS

76,484

69,568

CAPITAL AND RESERVES

Called up share capital

4

1

Profit and loss account

76,483

69,567

SHAREHOLDERS' FUNDS

76,484

69,568

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 29 June 2016 and were signed by:

A W Klufio - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents the amounts due for goods supplied in the period, net of value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Improvements to property

-

10% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

The company has a policy to depreciate the cost of freehold property at the rate of 2% per annum

on cost, taking into account the considered market value at the year end. Where the market value is

equal to or in excess of cost no depreciation is charged.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling

at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate

of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving

at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant

period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

Government grants

Grants received towards revenue expenditure are recognised as other income in the year in which

the revenue expenditure is incurred.

Grants received towards capital expenditure are accounted for on the accruals basis and are

released to the profit and loss account to match the depreciation policy of the asset to which they

relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

261,666

Additions

37,269

Disposals

(1,405

)

At 30 September 2015

297,530

DEPRECIATION

At 1 October 2014

13,073

Charge for year

9,978

Eliminated on disposal

(1,264

)

At 30 September 2015

21,787

NET BOOK VALUE

At 30 September 2015

275,743

At 30 September 2014

248,593

3.

CREDITORS

Creditors include an amount of £ 107,180 (30.9.14 - £ 143,712 ) for which security has been given.

They also include the following debts falling due in more than five years:

30.9.15

30.9.14

£

Repayable by instalments

73,488

111,124

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.15

30.9.14

value:

£

1

Ordinary

£1

1

5.	GOVERNMENT GRANTS

During the year the company received grants totalling £2,449 towards the costs of training and the

employment of interns. This income is recognised within the accounts as other operating income.