AKM Hemel Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08430171 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

AKM HEMEL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A M Yasin

M Yasin

Mrs F Akhtar

Mrs R Kouser

REGISTERED OFFICE:

First Floor

5 Doolittle Yard

Froghall Road

Ampthill

Bedfordshire

MK45 2NW

REGISTERED NUMBER:

08430171 (England and Wales)

AUDITORS:

GKP (Ampthill) Limited

Statutory Auditor

First Floor

5 Doolittle Yard

Froghall Road

Ampthill

Bedfordshire

MK45 2NW

FIXED ASSETS

Tangible assets

3

96,327

113,599

CURRENT ASSETS

Stocks

4,435

4,569

Debtors

4

701,410

568,245

Cash at bank and in hand

222,603

138,786

928,448

711,600

CREDITORS

Amounts falling due within one year

5

257,565

257,977

NET CURRENT ASSETS

670,883

453,623

TOTAL ASSETS LESS CURRENT LIABILITIES

767,210

567,222

PROVISIONS FOR LIABILITIES

12,489

15,302

NET ASSETS

754,721

551,920

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

753,721

550,920

SHAREHOLDERS' FUNDS

754,721

551,920

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 13 December 2018 and were signed on its behalf by:

A M Yasin - Director

1.	STATUTORY INFORMATION

AKM Hemel 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard

102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose

related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents the value of goods provided to customers, net of value added tax and discounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

Straight line over 10 years

Plant and machinery

-

15% on reducing balance

Computer equipment

-

33.33% on cost

Stocks

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

obsolete and slow moving items.

Financial instruments

Basic financial assets, which include debtors and cash and bank balances, are initially measured at

transaction price including transaction costs and are subsequently carried at amortised cost using the

effective interest method unless the arrangement constitutes a financing transaction, where the

transaction is measured at the present value of the future receipts discounted at a market rate of

interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and

preference shares that are classified as debt, are initially recognised at transaction price unless the

arrangement constitutes a financing transaction, where the debt instrument is measured at the

present value of the future receipts discounted at a market rate of interest. Financial liabilities

classified as payable within one year are not amortised.

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.

Hire purchase and leasing commitments

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

period of the lease.

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.

3.	TANGIBLE FIXED ASSETS

Short

Plant and

Computer

leasehold

machinery

equipment

Totals

£

£

£

£

COST

At 1 April 2017

and 31 March 2018

23,295

176,761

15,500

215,556

DEPRECIATION

At 1 April 2017

9,318

77,140

15,499

101,957

Charge for year

2,329

14,943

-

17,272

At 31 March 2018

11,647

92,083

15,499

119,229

NET BOOK VALUE

At 31 March 2018

11,648

84,678

1

96,327

At 31 March 2017

13,977

99,621

1

113,599

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Amounts owed by group undertakings

694,888

557,372

Prepayments

6,522

10,873

701,410

568,245

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

17,008

39,604

Amounts owed to group undertakings

111,552

108,934

Tax

49,987

45,290

Social security and other taxes

7,181

6,443

VAT

45,374

36,188

Accrued expenses

26,463

21,518

257,565

257,977

6.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2018

2017

£

£

Within one year

20,580

21,461

Between one and five years

79,800

80,430

In more than five years

-

19,950

100,380

121,841

7.	SECURED DEBTS

HSBC Bank PLC hold security by way of a fixed and floating charge over the undertaking and all

property and assets present and future including goodwill, uncalled capital, buildings, fixtures, plant

and machinery.

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Tara Aldwin ACA (Senior Statutory Auditor)

for and on behalf of GKP (Ampthill) Limited

9.	RELATED PARTY DISCLOSURES

A composite company unlimited multilateral guarantee has been given to the company's bankers by

AKM Pizza Limited, Zaan (Birmingham) Limited, and Zaan (Birmingham)1 Limited.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are the directors of the parent company, AKM Pizza Limited

(incorporated in England).

The parent company prepares group accounts and these are available from the registered office

shown on page 1.