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REGISTERED NUMBER: 05638244 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

YMK ESTATES LTD

YMK ESTATES LTD (REGISTERED NUMBER: 05638244)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


YMK ESTATES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: I Krausz





SECRETARY: Mrs R Krausz





REGISTERED OFFICE: 115 Craven Park Road
london
N15 6BL





REGISTERED NUMBER: 05638244 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

YMK ESTATES LTD (REGISTERED NUMBER: 05638244)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £   
FIXED ASSETS
Tangible assets 5 29,595 34,869
Investment property 6 18,471,480 18,471,480
18,501,075 18,506,349

CURRENT ASSETS
Debtors 7 4,639,551 5,578,098
Investments 8 949,827 949,827
Cash at bank 10,619 72,897
5,599,997 6,600,822
CREDITORS
Amounts falling due within one year 9 (2,021,151 ) (2,988,975 )
NET CURRENT ASSETS 3,578,846 3,611,847
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,079,921

22,118,196

CREDITORS
Amounts falling due after more than one
year

10

(8,049,933

)

(8,103,777

)

PROVISIONS FOR LIABILITIES (2,130,433 ) (2,130,433 )
NET ASSETS 11,899,555 11,883,986

CAPITAL AND RESERVES
Called up share capital 13 1 1
Fair value reserve 14 10,440,901 10,440,901
Retained earnings 14 1,458,653 1,443,084
SHAREHOLDERS' FUNDS 11,899,555 11,883,986

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.

YMK ESTATES LTD (REGISTERED NUMBER: 05638244)

STATEMENT OF FINANCIAL POSITION - 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 and authorized for issue by the director and authorised for issue on 8 October 2024 and were signed by:





I Krausz - Director


YMK ESTATES LTD (REGISTERED NUMBER: 05638244)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

YMK ESTATES LTD is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 14 ) .

YMK ESTATES LTD (REGISTERED NUMBER: 05638244)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 December 2022
and 30 November 2023 140,313 5,234 145,547
DEPRECIATION
At 1 December 2022 105,683 4,995 110,678
Charge for year 5,195 79 5,274
At 30 November 2023 110,878 5,074 115,952
NET BOOK VALUE
At 30 November 2023 29,435 160 29,595
At 30 November 2022 34,630 239 34,869

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 18,471,480
NET BOOK VALUE
At 30 November 2023 18,471,480
At 30 November 2022 18,471,480

The fair value of the investment properties were determined professionally by independent valuers using standard valuation technique.

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2016 12,571,587
Cost 5,899,893
18,471,480

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Other debtors 4,639,551 5,578,098

8. CURRENT ASSET INVESTMENTS
30.11.23 30.11.22
£    £   
Unlisted investments 949,827 949,827

YMK ESTATES LTD (REGISTERED NUMBER: 05638244)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts (see note 11) 1 -
Trade creditors 6,357 44,919
Amounts owed to group undertakings 1,390,927 1,391,383
Taxation and social security 28,968 170,301
Other creditors 594,898 1,382,372
2,021,151 2,988,975

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans (see note 11) 8,024,933 8,068,777
Other creditors 25,000 35,000
8,049,933 8,103,777

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loan 933,646 932,416

Repayable by instalments
Bank loans more 5 yr by instal 7,091,287 1,572,710
Other loans more 5yrs instal 25,000 35,000
7,116,287 1,607,710

Other creditors include Bounceback loan balance totalling £25,000 [2022 - £35,000]. The loan is unsecured, interest free for the first year, then capped at 2.5% and guaranteed by HM Government.

11. LOANS

An analysis of the maturity of loans is given below:

30.11.23 30.11.22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 1 -

Amounts falling due between two and five years:
Bank loans - 2-5 years - 5,563,651

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loan 933,646 932,416

YMK ESTATES LTD (REGISTERED NUMBER: 05638244)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

11. LOANS - continued
30.11.23 30.11.22
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 7,091,287 1,572,710
Other loans more 5yrs instal 25,000 35,000
7,116,287 1,607,710

12. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank overdraft 1 -
Bank loans 8,024,933 8,068,777
8,024,934 8,068,777

The bank loans are secured by a first charge over the company's investment properties and bear interest at variable rates.

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
1 Ordinary £1 1 1

14. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 December 2022 1,443,084 10,440,901 11,883,985
Profit for the year 91,645 91,645
Dividends (76,076 ) (76,076 )
At 30 November 2023 1,458,653 10,440,901 11,899,554

15. RELATED PARTY DISCLOSURES

Related party transactions, balances and events during the year that require disclosure are stated below.

1. £1,390,927 (2022 - £1,391,448) was owed to the parent company, Euroactive Limited. The loan is unsecured, interest free and repayable on demand.

2. The director was paid salary totalling £10,000.

5. Dividend payments totalling £76,076 [2022 - £90,076] were made during the year.

YMK ESTATES LTD (REGISTERED NUMBER: 05638244)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

16. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Euroactive Limited.