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REGISTERED NUMBER: 11507302 (England and Wales)















Financial Statements for the Year Ended 31 August 2023

for

Aytac Property Management Ltd

Aytac Property Management Ltd (Registered number: 11507302)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Aytac Property Management Ltd

Company Information
for the Year Ended 31 August 2023







DIRECTOR: A C Uguz





REGISTERED OFFICE: Unit 3 Forest Business Park
Argall Avenue
London
E10 7FB





REGISTERED NUMBER: 11507302 (England and Wales)





ACCOUNTANTS: Musalar & Co Accountants
International Accountant &Tax Consultant
FAIA, FFA, FIPA, FCPA, FFTA
536 Lordship Lane
London
N22 5BY

Aytac Property Management Ltd (Registered number: 11507302)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 952,250 963,905

CURRENT ASSETS
Debtors 5 11,808 16,026
Cash at bank and in hand 699,931 97,746
711,739 113,772
CREDITORS
Amounts falling due within one year 6 42,245 58,243
NET CURRENT ASSETS 669,494 55,529
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,621,744

1,019,434

CREDITORS
Amounts falling due after more than one
year

7

1,620,318

1,029,798
NET ASSETS/(LIABILITIES) 1,426 (10,364 )

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 426 (11,364 )
SHAREHOLDERS' FUNDS 1,426 (10,364 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

Aytac Property Management Ltd (Registered number: 11507302)

Balance Sheet - continued
31 August 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 2 April 2024 and were signed by:





A C Uguz - Director


Aytac Property Management Ltd (Registered number: 11507302)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Aytac Property Management 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.

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.

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

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

Aytac Property Management Ltd (Registered number: 11507302)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. TANGIBLE FIXED ASSETS
Freehold Long
property leasehold Totals
£    £    £   
COST
At 1 September 2022
and 31 August 2023 416,120 582,750 998,870
DEPRECIATION
At 1 September 2022 - 34,965 34,965
Charge for year - 11,655 11,655
At 31 August 2023 - 46,620 46,620
NET BOOK VALUE
At 31 August 2023 416,120 536,130 952,250
At 31 August 2022 416,120 547,785 963,905

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 11,808 16,026

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade creditors 13,245 4,243
Tenant Security Deposits 29,000 54,000
42,245 58,243

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans (see note 8) 489,318 548,798
Directors' loan accounts 1,131,000 481,000
1,620,318 1,029,798

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 489,318 548,798

Aytac Property Management Ltd (Registered number: 11507302)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

8. LOANS

An analysis of the maturity of loans is given below:

31.8.23 31.8.22
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 489,318 548,798

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
1,000 Ordinary shares class A 1.00 1,000 1,000