REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023 |
FOR |
EKAT DEVELOPMENTS LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023 |
FOR |
EKAT DEVELOPMENTS LTD |
EKAT DEVELOPMENTS LTD (REGISTERED NUMBER: 09870038) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31st January 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
EKAT DEVELOPMENTS LTD |
COMPANY INFORMATION |
for the Year Ended 31st January 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
100 Barbirolli Square |
Manchester |
M2 3BD |
EKAT DEVELOPMENTS LTD (REGISTERED NUMBER: 09870038) |
BALANCE SHEET |
31st January 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
EKAT DEVELOPMENTS LTD (REGISTERED NUMBER: 09870038) |
BALANCE SHEET - continued |
31st January 2023 |
2023 | 2022 |
Notes | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
EKAT DEVELOPMENTS LTD (REGISTERED NUMBER: 09870038) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31st January 2023 |
1. | STATUTORY INFORMATION |
EKAT Limited is a private company, limited by shares, registered in England and Wales, registration number 09870038. The address of the registered office is 100 Barbirolli Square, Manchester, United Kingdom, M2 3BD. The principal place of business is The Courtyard, Holly Mount Lane, Bury, BL8 4HP. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Investment property |
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measure at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit or loss in the period which they arise. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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. |
EKAT DEVELOPMENTS LTD (REGISTERED NUMBER: 09870038) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st January 2023 |
2. | ACCOUNTING POLICIES - continued |
Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
Trade and other creditors |
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash at bank and in hand. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st February 2022 |
and 31st January 2023 |
DEPRECIATION |
At 1st February 2022 |
Charge for year |
At 31st January 2023 |
NET BOOK VALUE |
At 31st January 2023 |
At 31st January 2022 |
EKAT DEVELOPMENTS LTD (REGISTERED NUMBER: 09870038) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st January 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st February 2022 |
Additions |
Revaluations | 422,962 |
At 31st January 2023 |
NET BOOK VALUE |
At 31st January 2023 |
At 31st January 2022 |
Fair value at 31st January 2023 is represented by: |
£ |
Valuation in 2018 | 66,057 |
Valuation in 2019 | 60,555 |
Valuation in 2023 | 422,962 |
Cost | 1,950,426 |
2,500,000 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Other creditors |
EKAT DEVELOPMENTS LTD (REGISTERED NUMBER: 09870038) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st January 2023 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Secured bank loan | 1,314,934 | 1,314,882 |
Included within other creditors are bank loan's which are secured by fixed and floating charge's against the investment properties. The amount outstanding on the loan's at the balance sheet date was £1,314,934 (2022: £1,314,882) |
10. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax |
Investment revaluation | 137,393 | 21,524 |
Deferred |
tax |
£ |
Balance at 1st February 2022 |
Provided during year |
Balance at 31st January 2023 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1.00 | 2 | 2 |