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Company Registration No. 11189575 (England and Wales)
MKK TIME LTD Unaudited accounts for the year ended 29 February 2024
MKK TIME LTD Unaudited accounts Contents
Page
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MKK TIME LTD Company Information for the year ended 29 February 2024
Director
Monsur Khan Khatun
Company Number
11189575 (England and Wales)
Registered Office
459 Southbury Road Enfield England EN3 4HX
Accountants
Khan Islam & Co 117 Whitechapel Road 3rd Floor London London E1 1DT
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Accountants' report on the preparation of the unaudited statutory statements of MKK TIME LTD (The Company) for the year ended 29 February 2024
In order to assist you as the sole director to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of the company for the year ended 29 February 2024 which comprises of the profit and loss account, the balance sheet, and explanatory notes from the company's accounting records and from information and explanations which you have provided us with.
As a member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.
This report is made solely to you as the sole director of the company, in accordance with the terms of our letter of engagement dated . Our work has been undertaken solely to prepare for your approval the financial statements of the company, and state those matters that we have agreed to state to you, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and you as the sole director for our work or for this report.
It is your duty to ensure that the company has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and financial performance of the company. You consider that the company is exempt from the statutory audit requirement for the year ended 29 February 2024.
We have not been instructed to carry out any assurance service on the financial statements of the company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Khan Islam & Co Financial Accountants 117 Whitechapel Road 3rd Floor London London E1 1DT 20 November 2024
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MKK TIME LTD Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
26,133 
27,949 
Current assets
Inventories
13,620 
10,710 
Debtors
6,375 
6,375 
Cash at bank and in hand
2,565 
1,273 
22,560 
18,358 
Creditors: amounts falling due within one year
(4,782)
(3,602)
Net current assets
17,778 
14,756 
Total assets less current liabilities
43,911 
42,705 
Creditors: amounts falling due after more than one year
(91,620)
(85,269)
Net liabilities
(47,709)
(42,564)
Capital and reserves
Share premium
100 
100 
Profit and loss account
(47,809)
(42,664)
Shareholders' funds
(47,709)
(42,564)
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 November 2024 and were signed on its behalf by
Monsur Khan Khatun Director Company Registration No. 11189575
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MKK TIME LTD Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
MKK TIME LTD is a private company, limited by shares, registered in England and Wales, registration number 11189575. The registered office is 459 Southbury Road, Enfield, England, EN3 4HX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20%
Fixtures & fittings
10%
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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MKK TIME LTD Notes to the Accounts for the year ended 29 February 2024
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 March 2023
24,500 
18,600 
43,100 
Additions
2,351 
- 
2,351 
At 29 February 2024
26,851 
18,600 
45,451 
Depreciation
At 1 March 2023
10,780 
4,371 
15,151 
Charge for the year
2,744 
1,423 
4,167 
At 29 February 2024
13,524 
5,794 
19,318 
Net book value
At 29 February 2024
13,327 
12,806 
26,133 
At 28 February 2023
13,720 
14,229 
27,949 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
2,125 
2,125 
Amounts falling due after more than one year
Accrued income and prepayments
4,250 
4,250 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
4,664 
3,484 
Other creditors
118 
118 
4,782 
3,602 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
31,101 
31,501 
Loans from directors
59,499 
53,768 
Accruals
1,020 
- 
91,620 
85,269 
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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