Company Registration No. 09579557 (England and Wales)
Akona Concepts Limited
Unaudited accounts
for the year ended 31 May 2020
Akona Concepts Limited
Unaudited accounts
Contents
Akona Concepts Limited
Company Information
for the year ended 31 May 2020
Directors
Stephen David Ashley
Gaynor Joanne Ashley
Mark Machin
Company Number
09579557 (England and Wales)
Registered Office
Room C23
The Heath Business & Technical Park
Runcorn
Cheshire
WA7 4QX
Accountants
FAO Accountancy Services Ltd
90 Fulbeck Avenue
Wigan
WN3 5QL
Akona Concepts Limited
Statement of financial position
as at
31 May 2020
Cash at bank and in hand
211,121
558,823
Creditors: amounts falling due within one year
(51,622)
(380,814)
Net current assets
638,080
637,012
Net assets
638,081
637,013
Called up share capital
100
100
Profit and loss account
637,981
636,913
Shareholders' funds
638,081
637,013
For the year ending 31 May 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 March 2021 and were signed on its behalf by
Gaynor Joanne Ashley
Director
Company Registration No. 09579557
Akona Concepts Limited
Notes to the Accounts
for the year ended 31 May 2020
Akona Concepts Limited is a private company, limited by shares, registered in England and Wales, registration number 09579557. The registered office is Room C23, The Heath Business & Technical Park, Runcorn, Cheshire, WA7 4QX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on cost
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Akona Concepts Limited
Notes to the Accounts
for the year ended 31 May 2020
4
Tangible fixed assets
Plant & machinery
Cost or valuation
At cost
5
Debtors: amounts falling due within one year
2020
2019
Trade debtors
217,499
457,865
Amounts due from group undertakings etc.
1,178
1,138
Accrued income and prepayments
240,480
-
6
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
-
5
Trade creditors
27,301
28,555
Taxes and social security
9,277
307,377
Loans from directors
7,844
6,208
7
Transactions with related parties
The company is controlled by Mr & Mrs Ashley.
Included in other debtors is a loan of £1,178 due from Akona Limited, a company also under the control of Mr & Mrs Ashley (2019 - £1,138).
8
Average number of employees
During the year the average number of employees was 2 (2019: 2).