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REGISTERED NUMBER: 07128618 (England and Wales)










M Khan Properties Limited

Unaudited Financial Statements

for the Year Ended 31 January 2023






M Khan Properties Limited (Registered number: 07128618)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


M Khan Properties Limited

Company Information
for the Year Ended 31 January 2023







DIRECTOR: Mr M U Khan Director





REGISTERED OFFICE: 31 Sackville Street
Manchester
M1 3LZ





REGISTERED NUMBER: 07128618 (England and Wales)





ACCOUNTANTS: SKS Shacter Cohen & Bor Ltd
Chartered Accountants
31 Sackville Street
Manchester
M1 3LZ

M Khan Properties Limited (Registered number: 07128618)

Abridged Balance Sheet
31 January 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 501,437 501,796

CURRENT ASSETS
Cash at bank and in hand 17,144 6,905

CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

(228,052

)

(211,880

)
NET CURRENT LIABILITIES (210,908 ) (204,975 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

290,529

296,821

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

(47,981

)

(69,830

)

PROVISIONS FOR LIABILITIES (17,219 ) (17,219 )

ACCRUALS AND DEFERRED INCOME - (1,623 )
NET ASSETS 225,329 208,149

CAPITAL AND RESERVES
Share capital 100 100
Revaluation reserve 7 86,094 86,094
Retained earnings 139,135 121,955
SHAREHOLDERS' FUNDS 225,329 208,149

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

M Khan Properties Limited (Registered number: 07128618)

Abridged Balance Sheet - continued
31 January 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Profit and Loss Account and Statement of Retained Earnings and an abridged Balance Sheet for the year ended 31 January 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account and Statement of Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 October 2023 and were signed by:





Mr M U Khan Director - Director


M Khan Properties Limited (Registered number: 07128618)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
31 Sackville Street
Manchester
M1 3LZ
England

The principal place of business is:
Taxi Maintenance House
Clarence Road
Manchester
M13 0YF
These financial statements were authorised for issue by the director on 25 September 2023.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts
.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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

Asset class Depreciation method and rate
Plant and machinery 20% reducing balance

SHARE CAPITAL
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.


M Khan Properties Limited (Registered number: 07128618)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

3. ACCOUNTING POLICIES - continued
TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account and Statement of Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current and 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2022
and 31 January 2023 519,706
DEPRECIATION
At 1 February 2022 17,910
Charge for year 359
At 31 January 2023 18,269
NET BOOK VALUE
At 31 January 2023 501,437
At 31 January 2022 501,796

M Khan Properties Limited (Registered number: 07128618)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

6. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans-under 1 year 22,733 27,589
Loan from family and friends 131,605 131,605
154,338 159,194

Amounts falling due between one and two years:
Bank loans 1 (1-2 years) 47,981 59,627

7. RESERVES
Revaluation
reserve
£   
At 1 February 2022
and 31 January 2023 86,094