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REGISTERED NUMBER: 03509907 (England and Wales)











Financial Statements

for the Year Ended 28 February 2023

for

TK REST LTD

TK REST LTD (REGISTERED NUMBER: 03509907)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TK REST LTD

Company Information
for the Year Ended 28 February 2023







DIRECTOR: Mr M J Breen





REGISTERED OFFICE: 42 Lytton Road
Barnet
Hertfordshire
EN5 5BY





REGISTERED NUMBER: 03509907 (England and Wales)





ACCOUNTANTS: Jeff Lermer & Associates
Chartered Accountants
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY

TK REST LTD (REGISTERED NUMBER: 03509907)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 1,245,000 1,245,000
1,245,000 1,245,000

CURRENT ASSETS
Debtors 6 17,873 60,670
Cash at bank 2,675 -
20,548 60,670
CREDITORS
Amounts falling due within one year 7 767,556 780,054
NET CURRENT LIABILITIES (747,008 ) (719,384 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

497,992

525,616

CREDITORS
Amounts falling due after more than one year 8 (20,971 ) (19,711 )

PROVISIONS FOR LIABILITIES (134,324 ) (134,324 )
NET ASSETS 342,697 371,581

CAPITAL AND RESERVES
Called up share capital 10 2 2
Revaluation reserve 402,972 402,972
Retained earnings (60,277 ) (31,393 )
SHAREHOLDERS' FUNDS 342,697 371,581

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

TK REST LTD (REGISTERED NUMBER: 03509907)

Balance Sheet - continued
28 February 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 November 2023 and were signed by:





Mr M J Breen - Director


TK REST LTD (REGISTERED NUMBER: 03509907)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

TK Rest Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

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

TK REST LTD (REGISTERED NUMBER: 03509907)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2022 6,752 658 7,410
Disposals (6,752 ) - (6,752 )
At 28 February 2023 - 658 658
DEPRECIATION
At 1 March 2022 6,752 658 7,410
Eliminated on disposal (6,752 ) - (6,752 )
At 28 February 2023 - 658 658
NET BOOK VALUE
At 28 February 2023 - - -
At 28 February 2022 - - -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 1,245,000
NET BOOK VALUE
At 28 February 2023 1,245,000
At 28 February 2022 1,245,000

Fair value at 28 February 2023 is represented by:
£   
Valuation in 2022 537,295
Cost 707,705
1,245,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 4,967 5,670
Amounts owed by group undertakings 12,906 -
Prepayments and accrued income - 55,000
17,873 60,670

TK REST LTD (REGISTERED NUMBER: 03509907)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts (see note 9) 3,473 5,013
Other loans (see note 9) 762,688 722,570
Amounts owed to group undertakings - 49,294
VAT 435 1,737
Accruals and deferred income 960 1,440
767,556 780,054

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans (see note 9) 20,971 19,711

9. LOANS

An analysis of the maturity of loans is given below:

28.2.23 28.2.22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 13
Bank loans 3,473 5,000
Other loans 762,688 722,570
766,161 727,583

Amounts falling due between one and two years:
Bank loans - 1-2 years 3,473 5,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 17,498 14,711

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
2 Ordinary £1 2 2

11. RELATED PARTY DISCLOSURES

At the balance sheet date, the company was owed an amount of £12,906 (2022: £49,294 owed to) by Mayfair Castle Limited, a company in which the director, Mr M J Breen, has common control.