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REGISTERED NUMBER: 04631044 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

M.K. DEVELOPMENTS (UK) LTD

M.K. DEVELOPMENTS (UK) LTD (REGISTERED NUMBER: 04631044)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M.K. DEVELOPMENTS (UK) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Z Ahmed
I Ahmed
F Ahmed
R Ahmed





REGISTERED OFFICE: Office 1 Rochdale Suzuki
MK Business Park
Crawford Street
Rochdale
0L16 5SA





REGISTERED NUMBER: 04631044 (England and Wales)





ACCOUNTANTS: Streets Turner Limited
Chartered Accountants
9 Victoria Rd
Fulwood
Preston
Lancashire
PR2 8ND

M.K. DEVELOPMENTS (UK) LTD (REGISTERED NUMBER: 04631044)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,447,118 2,400,000

CURRENT ASSETS
Debtors 5 813 454
Cash at bank 46,111 94,699
46,924 95,153
CREDITORS
Amounts falling due within one year 6 153,077 159,657
NET CURRENT LIABILITIES (106,153 ) (64,504 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,340,965

2,335,496

CREDITORS
Amounts falling due after more than one
year

7

(423,974

)

(455,828

)

PROVISIONS FOR LIABILITIES (273,603 ) (273,603 )
NET ASSETS 1,643,388 1,606,065

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 1,440,014 1,440,014
Retained earnings 203,274 165,951
SHAREHOLDERS' FUNDS 1,643,388 1,606,065

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

M.K. DEVELOPMENTS (UK) LTD (REGISTERED NUMBER: 04631044)

BALANCE SHEET - continued
31 JANUARY 2024


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 Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:





Z Ahmed - Director


M.K. DEVELOPMENTS (UK) LTD (REGISTERED NUMBER: 04631044)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

M.K. Developments (UK) 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.

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.
Land and buildings - Nil

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 4 (2023 - 3 ) .

M.K. DEVELOPMENTS (UK) LTD (REGISTERED NUMBER: 04631044)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST OR VALUATION
At 1 February 2023 2,400,000
Additions 99,335
Disposals (52,217 )
At 31 January 2024 2,447,118
NET BOOK VALUE
At 31 January 2024 2,447,118
At 31 January 2023 2,400,000

Cost or valuation at 31 January 2024 is represented by:

Land and
buildings
£   
Valuation in 2023 2,400,000
Valuation in 2024 47,118
2,447,118

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,059,321 959,986

Freehold land and buildings were valued on an open market basis on 31 January 2024 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 813 454

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 20,000 20,000
Taxation and social security 38,398 35,630
Other creditors 94,679 104,027
153,077 159,657

M.K. DEVELOPMENTS (UK) LTD (REGISTERED NUMBER: 04631044)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Amounts owed to associates 32,101 41,173
Other creditors 391,873 414,655
423,974 455,828

8. RESERVES
Revaluation
reserve
£   
At 1 February 2023
and 31 January 2024 1,440,014

9. SHAREHOLDINGS

The shareholders of the company are as follows:

Z Ahmed
I Ahmed
N Ahmed
F Ahmed

10. RELATED PARTY DISCLOSURES

The directors of the company are also directors of MK Automobiles Limited. MK Automobiles Ltd is a tenant in one of the properties owned by M.K. Developments (UK) Limited.

The balance owed to MK Automobiles Limited at the year end, is £17,101 (2023 - £41,173).

During the year a loan was in place from I Ahmed, a director of the company, to the company on an informal basis. At the year end the balance due to I Ahmed was £642 (2023 - £3,642).

During the year a loan was in place from Z Ahmed, a director of the company, to the company on an informal basis. At the year end the balance due to Z Ahmed was £569 (2023 - £5,615).