Company registration number 10776212 (England and Wales)
MKW Holdings Limited
UNAUDITED FINANCIAL STATEMENTS
for the year ended 31 March 2024
PAGES FOR FILING WITH REGISTRAR
MKW Holdings Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
MKW Holdings Limited
Statement Of Financial Position
as at 31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
13,365
15,723
Investment property
4
1,846,144
1,564,169
Investments
5
200
200
1,859,709
1,580,092
Current assets
Cash at bank and in hand
23,885
12,041
Creditors: amounts falling due within one year
6
(21,181)
(16,826)
Net current assets/(liabilities)
2,704
(4,785)
Total assets less current liabilities
1,862,413
1,575,307
Creditors: amounts falling due after more than one year
7
(3,200)
(5,600)
Provisions for liabilities
8
(2,539)
(2,987)
Net assets
1,856,674
1,566,720
Capital and reserves
Called up share capital
9
200
200
Profit and loss reserves
1,856,474
1,566,520
Total equity
1,856,674
1,566,720
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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.
MKW Holdings Limited
Statement Of Financial Position (continued)
as at 31 March 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 8 August 2024
M V Willings
Director
Company registration number 10776212 (England and Wales)
MKW Holdings Limited
Notes to the financial statements
for the year ended 31 March 2024
- 3 -
1
Accounting policies
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 are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
Turnover
Turnover represents the fair value of the consideration receivable for services provided in the normal course of business. Turnover is recognised upon the provision of services.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Plant and equipment
15% reducing balance
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
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. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
MKW Holdings Limited
Notes to the financial statements (continued)
for the year ended 31 March 2024
1
Accounting policies
(continued)
- 4 -
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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
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:
2024
2023
Number
Number
Total
3
Tangible fixed assets
Plant and equipment
£
Cost
At 1 April 2023 and 31 March 2024
21,955
Depreciation and impairment
At 1 April 2023
6,232
Depreciation charged in the year
2,358
At 31 March 2024
8,590
Carrying amount
At 31 March 2024
13,365
At 31 March 2023
15,723
4
Investment property
2024
£
Fair value
At 1 April 2023
1,564,168
Additions
281,976
At 31 March 2024
1,846,144
MKW Holdings Limited
Notes to the financial statements (continued)
for the year ended 31 March 2024
- 5 -
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
200
200
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
2,200
2,200
Corporation tax
5,174
Other creditors
12,807
13,626
Accruals and deferred income
1,000
1,000
21,181
16,826
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
3,200
5,600
8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
2,539
2,987
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of £1 each
180
180
180
180
B Ordinary shares of £1 each
5
5
5
5
C Ordinary shares of £1 each
5
5
5
5
D Ordinary shares - non voting of £1 each
5
5
5
5
E Ordinary shares - non voting of £1 each
4
4
4
4
F Ordinary shares - non voting of £1 each
1
1
1
1
200
200
200
200
10
Company information
MKW Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Vincent House, Queen Street, Horbury, Wakefield, WF4 6LP.