IRIS Accounts Production v23.1.5.20 09870038 Board of Directors 1.2.22 31.1.23 31.1.23 0 0 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh098700382022-01-31098700382023-01-31098700382022-02-012023-01-31098700382021-01-31098700382021-02-012022-01-31098700382022-01-3109870038ns15:EnglandWales2022-02-012023-01-3109870038ns14:PoundSterling2022-02-012023-01-3109870038ns10:Director12022-02-012023-01-3109870038ns10:PrivateLimitedCompanyLtd2022-02-012023-01-3109870038ns10:SmallEntities2022-02-012023-01-3109870038ns10:AuditExempt-NoAccountantsReport2022-02-012023-01-3109870038ns10:SmallCompaniesRegimeForDirectorsReport2022-02-012023-01-3109870038ns10:SmallCompaniesRegimeForAccounts2022-02-012023-01-3109870038ns10:FullAccounts2022-02-012023-01-3109870038ns10:OrdinaryShareClass12022-02-012023-01-3109870038ns10:Director22022-02-012023-01-3109870038ns10:RegisteredOffice2022-02-012023-01-3109870038ns5:CurrentFinancialInstruments2023-01-3109870038ns5:CurrentFinancialInstruments2022-01-3109870038ns5:Non-currentFinancialInstruments2023-01-3109870038ns5:Non-currentFinancialInstruments2022-01-3109870038ns5:ShareCapital2023-01-3109870038ns5:ShareCapital2022-01-3109870038ns5:RetainedEarningsAccumulatedLosses2023-01-3109870038ns5:RetainedEarningsAccumulatedLosses2022-01-3109870038ns5:PlantMachinery2022-01-3109870038ns5:PlantMachinery2022-02-012023-01-3109870038ns5:PlantMachinery2023-01-3109870038ns5:PlantMachinery2022-01-3109870038ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3109870038ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-01-3109870038ns5:DeferredTaxation2022-01-3109870038ns5:DeferredTaxation2022-02-012023-01-3109870038ns5:DeferredTaxation2023-01-3109870038ns10:OrdinaryShareClass12023-01-31
REGISTERED NUMBER: 09870038 (England and Wales)















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: Mr A M Smith
Mrs T E Smith





REGISTERED OFFICE: 100 Barbirolli Square
Manchester
M2 3BD





REGISTERED NUMBER: 09870038 (England and Wales)





ACCOUNTANTS: KJG
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 29,474 34,675
Investment property 5 2,500,000 2,053,318
2,529,474 2,087,993

CURRENT ASSETS
Debtors 6 47,497 23,978
Cash at bank 10,337 58,359
57,834 82,337
CREDITORS
Amounts falling due within one year 7 (26,947 ) (18,225 )
NET CURRENT ASSETS 30,887 64,112
TOTAL ASSETS LESS CURRENT LIABILITIES 2,560,361 2,152,105

CREDITORS
Amounts falling due after more than one year 8 (1,334,934 ) (1,350,716 )

PROVISIONS FOR LIABILITIES 10 (137,393 ) (21,524 )
NET ASSETS 1,088,034 779,865

EKAT DEVELOPMENTS LTD (REGISTERED NUMBER: 09870038)

BALANCE SHEET - continued
31st January 2023

2023 2022
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 1,088,032 779,863
SHAREHOLDERS' FUNDS 1,088,034 779,865

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2023 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 applicable to companies subject to the small companies regime.

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 27th October 2023 and were signed on its behalf by:





Mr A M Smith - Director


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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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

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 38,000
DEPRECIATION
At 1st February 2022 3,325
Charge for year 5,201
At 31st January 2023 8,526
NET BOOK VALUE
At 31st January 2023 29,474
At 31st January 2022 34,675

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 2,053,318
Additions 23,720
Revaluations 422,962
At 31st January 2023 2,500,000
NET BOOK VALUE
At 31st January 2023 2,500,000
At 31st January 2022 2,053,318

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 45,000 20,000
Other debtors 2,497 3,978
47,497 23,978

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 5,070 2,057
Other creditors 21,877 16,168
26,947 18,225

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 1,334,934 1,350,716

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 21,524
Provided during year 115,869
Balance at 31st January 2023 137,393

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1.00 2 2