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REGISTERED NUMBER: SC582033 (Scotland)















Unaudited Financial Statements For The Year Ended 30 November 2023

for

MAK PROPERTY (SCOTLAND) LTD

MAK PROPERTY (SCOTLAND) LTD (Registered number: SC582033)






Contents of the Financial Statements
For The Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MAK PROPERTY (SCOTLAND) LTD

Company Information
For The Year Ended 30 November 2023







DIRECTOR: M Akbar





REGISTERED OFFICE: 24 Fourth Avenue
Millerston
Glasgow





REGISTERED NUMBER: SC582033 (Scotland)





ACCOUNTANTS: Ahmad & Nabi Mcmullan
95-107 Lancefield Street
Glasgow
Lanarkshire
G3 8HZ

MAK PROPERTY (SCOTLAND) LTD (Registered number: SC582033)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 874,200 879,000

CURRENT ASSETS
Cash at bank 1,209 191

CREDITORS
Amounts falling due within one year 5 84,551 84,561
NET CURRENT LIABILITIES (83,342 ) (84,370 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

790,858

794,630

CREDITORS
Amounts falling due after more than one year 6 502,076 500,057
NET ASSETS 288,782 294,573

CAPITAL AND RESERVES
Called up share capital 7 100 100
Revaluation reserve 8 330,382 330,382
Retained earnings 8 (41,700 ) (35,909 )
SHAREHOLDERS' FUNDS 288,782 294,573

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

MAK PROPERTY (SCOTLAND) LTD (Registered number: SC582033)

Balance Sheet - continued
30 November 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 27 August 2024 and were signed by:





M Akbar - Director


MAK PROPERTY (SCOTLAND) LTD (Registered number: SC582033)

Notes to the Financial Statements
For The Year Ended 30 November 2023

1. STATUTORY INFORMATION

MAK PROPERTY (SCOTLAND) LTD is a private company, limited by shares , registered in Scotland. 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 as modified by the revaluation of certain assets.

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.
Motor vehicles - 20% on 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

MAK PROPERTY (SCOTLAND) LTD (Registered number: SC582033)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS
Freehold Motor
property vehicles Totals
£    £    £   
COST OR VALUATION
At 1 December 2022
and 30 November 2023 855,000 30,000 885,000
DEPRECIATION
At 1 December 2022 - 6,000 6,000
Charge for year - 4,800 4,800
At 30 November 2023 - 10,800 10,800
NET BOOK VALUE
At 30 November 2023 855,000 19,200 874,200
At 30 November 2022 855,000 24,000 879,000

Cost or valuation at 30 November 2023 is represented by:

Freehold Motor
property vehicles Totals
£    £    £   
Valuation in 2022 855,000 30,000 885,000

Professional valuations were conducted in 2022 valuing properties at £855,000.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 5,375 5,375
Directors' current accounts 78,240 78,154
Accrued expenses 936 1,032
84,551 84,561

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loan 322,106 320,454
Other loans more 5yrs non-inst 179,970 179,603
502,076 500,057

MAK PROPERTY (SCOTLAND) LTD (Registered number: SC582033)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
30.11.23 30.11.22
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 179,970 179,603

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
100 Ordinary £1.00 100 100

8. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 December 2022 (35,909 ) 330,382 294,473
Deficit for the year (5,791 ) (5,791 )
At 30 November 2023 (41,700 ) 330,382 288,682