AK Fresh Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04835170 (England and Wales)

AK Fresh Limited

Unaudited Financial Statements for the Year Ended 31 August 2017

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

A S Khas

Mrs C S Khas

SECRETARY:

Mrs C S Khas

REGISTERED OFFICE:

32 The Crescent

Spalding

Lincolnshire

PE11 1AF

REGISTERED NUMBER:

04835170 (England and Wales)

ACCOUNTANTS:

Salway and Wright

Chartered Accountants

32 The Crescent

Spalding

Lincolnshire

PE11 1AF

FIXED ASSETS

Tangible assets

4

22,304

28,050

Investments

5

1

1

22,305

28,051

CURRENT ASSETS

Stocks

3,667

5,492

Debtors

6

100,753

70,013

Cash at bank

31,174

117,714

135,594

193,219

CREDITORS

Amounts falling due within one year

7

144,712

138,592

NET CURRENT (LIABILITIES)/ASSETS

(9,118

)

54,627

TOTAL ASSETS LESS CURRENT LIABILITIES

13,187

82,678

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

13,087

82,578

SHAREHOLDERS' FUNDS

13,187

82,678

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 4 January 2018 and were signed on its behalf by:

A S Khas - Director

Mrs C S Khas - Director

1.	STATUTORY INFORMATION

AK Fresh Limited is a private company, limited by shares , registered in England and Wales. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about AK Fresh Limited as an individual company and do not

contain consolidated financial information as the parent of a group. The company has taken the option under

Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

The subsidiary company has not traded during the period.

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

-

33% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 September 2016

and 31 August 2017

25,254

13,225

34,335

72,814

DEPRECIATION

At 1 September 2016

20,192

10,574

13,998

44,764

Charge for year

1,154

525

4,067

5,746

At 31 August 2017

21,346

11,099

18,065

50,510

NET BOOK VALUE

At 31 August 2017

3,908

2,126

16,270

22,304

At 31 August 2016

5,062

2,651

20,337

28,050

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 September 2016

and 31 August 2017

1

NET BOOK VALUE

At 31 August 2017

1

At 31 August 2016

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Trade debtors

100,753

70,013

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Hire purchase contracts

8,783

15,370

Trade creditors

32,608

1,218

Social security and other taxes

645

5,814

Other creditors

100,675

114,132

Accruals and deferred income

2,001

2,058

144,712

138,592

8.	RELATED PARTY DISCLOSURES

The business is owned and controlled by Mr and Mrs Khas.