Company registration number 03793647 (England and Wales)
M J H K PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
M J H K PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
M J H K PROPERTIES LIMITED
BALANCE SHEET
AS AT 30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
302,887
301,650
Current assets
Cash at bank and in hand
274,283
176,224
Creditors: amounts falling due within one year
Loans and overdrafts
2,460
2,460
Taxation and social security
11,794
2,689
Other creditors
51,342
9,132
65,596
14,281
Net current assets
208,687
161,943
Total assets less current liabilities
511,574
463,593
Creditors: amounts falling due after more than one year
Loans and overdrafts
63,540
63,540
(63,540)
(63,540)
Provisions for liabilities
6
(45,303)
(35,170)
Net assets
402,731
364,883
Capital and reserves
Called up share capital
400
400
Profit and loss reserves
402,331
364,483
Total equity
402,731
364,883
The notes on pages 3 to 5 form part of these financial statements.
M J H K PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023
30 November 2023
- 2 -
For the financial 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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 29 July 2024 and are signed on its behalf by:
..............................................
..............................................
Mrs K J Shah
Mr H J Shah
Director
Director
Company registration number 03793647 (England and Wales)
M J H K PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
1
Accounting policies
Company information
M J H K Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Glenalmond Road, Kenton, Harrow, Middlesex, United Kingdom, HA3 9JY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of fixed assets at fair value].
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of discounts.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings
none
Fixtures and fittings
25% on reducing balance
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year calculated at tax rates that have been enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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.
1.5
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease.
M J H K PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Leasehold land and buildings
Fixtures and fittings
Total
£
£
£
Cost or valuation
At 1 December 2022
300,000
4,265
304,265
Additions
2,200
2,200
At 30 November 2023
300,000
6,465
306,465
Depreciation and impairment
At 1 December 2022
2,615
2,615
Depreciation charged in the year
963
963
At 30 November 2023
3,578
3,578
Carrying amount
At 30 November 2023
300,000
2,887
302,887
At 30 November 2022
300,000
1,650
301,650
Leasehold land and buildings with a carrying amount of £300,000, (2022 £300,000) have been pledged to secure borrowings of the company.
Land and buildings with a carrying amount of £300,000 were revalued at 30/11/2023 by the Directors.on the basis of market value of similar properties..
The following assets are carried at cost or valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:
M J H K PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
3
Tangible fixed assets
(Continued)
- 5 -
Leasehold Property
Plant and Machinery
2023
2022
2023
2022
£
£
£
£
Cost
73,602
73,602
6,465
4,265
Accumulated depreciation
-
-
(3,578)
(2,615)
Carrying value
73,602
73,602
2,887
1,650
4
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
2,460
2,460
Trade creditors
6,515
6,515
Corporation tax
11,794
2,689
Other creditors
44,827
2,617
65,596
14,281
5
Creditors: amounts falling due after more than one year
Creditors which fall due after five years are as follows:
2023
2022
£
£
Payable by instalments
53,700
53,700
6
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
45,303
35,170