false false false false false false false false false false true false false false false false false No description of principal activity 2022-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 930,228 117,075 1,047,303 1,047,303 930,228 1 1 1 xbrli:pure xbrli:shares iso4217:GBP 12212934 2022-10-01 2023-09-30 12212934 2023-09-30 12212934 2022-09-30 12212934 2021-10-01 2022-09-30 12212934 2022-09-30 12212934 2021-09-30 12212934 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 12212934 bus:Director1 2022-10-01 2023-09-30 12212934 core:WithinOneYear 2023-09-30 12212934 core:WithinOneYear 2022-09-30 12212934 core:LandBuildings core:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 12212934 core:AfterOneYear 2023-09-30 12212934 core:AfterOneYear 2022-09-30 12212934 core:ShareCapital 2023-09-30 12212934 core:ShareCapital 2022-09-30 12212934 core:RetainedEarningsAccumulatedLosses 2023-09-30 12212934 core:RetainedEarningsAccumulatedLosses 2022-09-30 12212934 core:CostValuation core:Non-currentFinancialInstruments 2023-09-30 12212934 core:Non-currentFinancialInstruments 2023-09-30 12212934 core:Non-currentFinancialInstruments 2022-09-30 12212934 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-30 12212934 core:LandBuildings core:OwnedOrFreeholdAssets 2022-09-30 12212934 core:LandBuildings core:OwnedOrFreeholdAssets 2022-09-30 12212934 bus:SmallEntities 2022-10-01 2023-09-30 12212934 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 12212934 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 12212934 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 12212934 bus:FullAccounts 2022-10-01 2023-09-30 12212934 bus:OrdinaryShareClass1 2023-09-30 12212934 bus:OrdinaryShareClass1 2022-09-30
COMPANY REGISTRATION NUMBER: 12212934
MKUK Home Ltd
Filleted Unaudited Financial Statements
30 September 2023
MKUK Home Ltd
Financial Statements
Year ended 30 September 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
MKUK Home Ltd
Statement of Financial Position
30 September 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
1,047,303
930,228
Investments
6
1
1
------------
---------
1,047,304
930,229
Current assets
Debtors
7
2,546
5,168
Cash at bank and in hand
15,861
11,063
--------
--------
18,407
16,231
Creditors: amounts falling due within one year
8
770,689
682,206
---------
---------
Net current liabilities
752,282
665,975
------------
---------
Total assets less current liabilities
295,022
264,254
Creditors: amounts falling due after more than one year
9
226,070
225,415
Provisions
Taxation including deferred tax
10,924
10,924
---------
---------
Net assets
58,028
27,915
---------
---------
Capital and reserves
Called up share capital
10
100
100
Profit and loss account
57,928
27,815
--------
--------
Shareholders funds
58,028
27,915
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
MKUK Home Ltd
Statement of Financial Position (continued)
30 September 2023
These financial statements were approved by the board of directors and authorised for issue on 11 March 2024 , and are signed on behalf of the board by:
Mr M Kangi
Director
Company registration number: 12212934
MKUK Home Ltd
Notes to the Financial Statements
Year ended 30 September 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rental income.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year, including the director, amounted to 1 (2022: 1).
5. Tangible assets
Investment property
£
Cost
At 1 October 2022
930,228
Additions
117,075
------------
At 30 September 2023
1,047,303
------------
Depreciation
At 1 October 2022 and 30 September 2023
------------
Carrying amount
At 30 September 2023
1,047,303
------------
At 30 September 2022
930,228
------------
The director has valued the investment properties at £1,047,303 as at 30 September 2023. The historical cost of the investment properties is £989,811.
6. Investments
Other investments other than loans
£
Cost
At 1 October 2022 and 30 September 2023
1
----
Impairment
At 1 October 2022 and 30 September 2023
----
Carrying amount
At 30 September 2023
1
----
At 30 September 2022
1
----
7. Debtors
2023
2022
£
£
Prepayments and accrued income
2,546
5,168
-------
-------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
9,585
7,240
Corporation tax
2,671
Director loan accounts
713,433
629,966
Amounts owed to related undertakings
45,000
45,000
---------
---------
770,689
682,206
---------
---------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
226,070
225,415
---------
---------
Included within creditors: amounts falling due after more than one year is an amount of £226,219 (2022: £225,415) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
£226,070 (2022: £225,415) of the bank loans and overdrafts falling due after more than one year are secured by a charge on the company's investment property.
10. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
11. Related party transactions
At the year end the company owed its director £713,433 (2022: £629,966), which is shown within creditors due within one year. At the year end the company owed £45,000 (2022: £45,000) to related undertakings, controlled by the company directors.