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Registered Number: 13039128


 

 

 

MCKAY PROPERTY LETTINGS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 344,756    344,534 
344,756    344,534 
Current assets      
Cash at bank and in hand 17,432    14,494 
Creditors: amount falling due within one year (118,542)   (117,181)
Net current assets (101,110)   (102,687)
 
Total assets less current liabilities 243,646    241,847 
Creditors: amount falling due after more than one year (251,212)   (251,212)
Net assets (7,566)   (9,365)
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account (7,666)   (9,465)
Shareholders' funds (7,566)   (9,365)
 


For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 02 August 2024 and were signed by:


-------------------------------
Lokendra Sharma
Director
1
General Information
MCKAY PROPERTY LETTINGS LIMITED is a private company, limited by shares, registered in , registration number 13039128, registration address 11 WINCKLEY CLOSE, HARROW UNITED KINGDOM, HA3 9QW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 2 Straight Line
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Investment properties   Total
  £   £   £
At 01 December 2022   344,534    344,534 
Additions 444      444 
Disposals    
At 30 November 2023 444    344,534    344,978 
Depreciation
At 01 December 2022    
Charge for year 222      222 
On disposals    
At 30 November 2023 222      222 
Net book values
Closing balance as at 30 November 2023 222    344,534    344,756 
Opening balance as at 01 December 2022   344,534    344,534 

The net book value of Investment properties includes £ 344,534 (2022 £344,534) in respect of assets leased under finance leases or hire purchase contracts.

2