Registered number
12742604
MTK Property Limited
Filleted Accounts
31 July 2023
MTK Property Limited
Registered number: 12742604
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,202,177 1,202,177
Current assets
Debtors 4 120,700 112,725
Cash at bank and in hand 6,494 4,890
127,194 117,615
Creditors: amounts falling due within one year 5 (369,298) (368,783)
Net current liabilities (242,104) (251,168)
Total assets less current liabilities 960,073 951,009
Creditors: amounts falling due after more than one year 6 (930,088) (930,088)
Net assets 29,985 20,921
Capital and reserves
Called up share capital 100 100
Profit and loss account 29,885 20,821
Shareholders' funds 29,985 20,921
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Tomasz Grzegorz Kolodziejczyk
Director
Approved by the board on 8 March 2024
MTK Property Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the rentals received or receivable, net of discounts and value added taxes.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings non-depreciating
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Current and deferred tax liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 August 2022 1,202,177
At 31 July 2023 1,202,177
Depreciation
At 31 July 2023 -
Net book value
At 31 July 2023 1,202,177
At 31 July 2022 1,202,177
4 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 120,700 96,000
Other debtors - 16,725
120,700 112,725
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,500 1,500
Amounts owed to group undertakings and undertakings in which the company has a participating interest 259,000 260,000
Taxation and social security costs 7,406 4,892
Other creditors 101,392 102,391
369,298 368,783
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 930,088 930,088
7 Other information
MTK Property Limited is a private company limited by shares and incorporated in England. Its registered office is:
226-228 King Street
London
W6 0RA
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