REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2023 |
FOR |
TK RESIDENTIAL LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2023 |
FOR |
TK RESIDENTIAL LIMITED |
TK RESIDENTIAL LIMITED (REGISTERED NUMBER: 10716145) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST OCTOBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
TK RESIDENTIAL LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST OCTOBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
85 Great Portland Street |
London |
W1W 7LT |
TK RESIDENTIAL LIMITED (REGISTERED NUMBER: 10716145) |
BALANCE SHEET |
31ST OCTOBER 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
SHAREHOLDERS' FUNDS |
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. |
TK RESIDENTIAL LIMITED (REGISTERED NUMBER: 10716145) |
BALANCE SHEET - continued |
31ST OCTOBER 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
TK RESIDENTIAL LIMITED (REGISTERED NUMBER: 10716145) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST OCTOBER 2023 |
1. | STATUTORY INFORMATION |
TK Residential Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Investments in subsidiaries and associates |
Investments in subsidiary and associate undertakings are recognised at cost. |
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. |
Going concern |
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. |
TK RESIDENTIAL LIMITED (REGISTERED NUMBER: 10716145) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST OCTOBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments. |
Financial assets and financial liabilities are recognized when the company becomes party to the contractual provisions of the instrument. |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
The company's policies for its major classes of financial assets and financial liabilities are set out below. |
Financial assets |
Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing are initially recognized at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. |
Such assets are subsequently carried at amortized cost using the effective interest method, less any impairment. |
Financial liabilities |
Basic financial liabilities, including trade and other creditors, and loans from fellow group companies, are initially recognized at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. |
Debt instruments are subsequently carried at amortized cost, using the effective interest rate method. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
TK RESIDENTIAL LIMITED (REGISTERED NUMBER: 10716145) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST OCTOBER 2023 |
4. | FIXED ASSET INVESTMENTS |
Investments |
in | Investments |
subsidiary | in |
companies | associates | Totals |
£ | £ | £ |
COST |
At 1st November 2022 |
and 31st October 2023 | 926,646 |
NET BOOK VALUE |
At 31st October 2023 | 926,646 |
At 31st October 2022 | 926,646 |
Investments in subsidiaries are measured at cost less accumulated impairment. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings | 1,064,663 | 513,663 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings | 1,991,109 | 1,440,109 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary shares | 1 | 200 | 200 |