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
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
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
MKK TIME LTD
Statement of financial position
as at 29 February 2024
Tangible assets
26,133
27,949
Cash at bank and in hand
2,565
1,273
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)
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
MKK TIME LTD
Notes to the Accounts
for the year ended 29 February 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
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.
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
At 29 February 2024
26,851
18,600
45,451
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
At 29 February 2024
13,327
12,806
26,133
At 28 February 2023
13,720
14,229
27,949
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
7
Creditors: amounts falling due after more than one year
2024
2023
Loans from directors
59,499
53,768
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).