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REGISTERED NUMBER: 12580883 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 May 2024

for

SZK ESTATES LTD

SZK ESTATES LTD (REGISTERED NUMBER: 12580883)

Contents of the Financial Statements
for the year ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SZK ESTATES LTD

Company Information
for the year ended 31 May 2024







Directors: Dr S Khamkar
Ms Z Kaleem





Registered office: 71 Brook Crescent
Chingford
London
E4 9ES





Registered number: 12580883 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

SZK ESTATES LTD (REGISTERED NUMBER: 12580883)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 11,315 8,154
Investment property 5 745,000 494,667
756,315 502,821

Current assets
Debtors 6 25,092 25,085
Cash at bank 3,916 2,617
29,008 27,702
Creditors
Amounts falling due within one year 7 264,748 197,349
Net current liabilities (235,740 ) (169,647 )
Total assets less current liabilities 520,575 333,174

Creditors
Amounts falling due after more than one
year

8

(473,797

)

(335,817

)

Provisions for liabilities (14,565 ) (4,456 )
Net assets/(liabilities) 32,213 (7,099 )

Capital and reserves
Called up share capital 9 100 100
Revaluation reserve 10 - 18,997
Other reserves 62,093 -
Retained earnings (29,980 ) (26,196 )
Shareholders' funds 32,213 (7,099 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

SZK ESTATES LTD (REGISTERED NUMBER: 12580883)

Balance Sheet - continued
31 May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2024 and were signed on its behalf by:





Dr S Khamkar - Director


SZK ESTATES LTD (REGISTERED NUMBER: 12580883)

Notes to the Financial Statements
for the year ended 31 May 2024


1. Statutory information

SZK 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. 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 recognised on a straight line basis over the term of the lease agreement.

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 - 20% 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.

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


SZK ESTATES LTD (REGISTERED NUMBER: 12580883)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


2. Accounting policies - continued
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 (2023 - 1 ) .

4. Tangible fixed assets
Fixtures
and
fittings
£   
Cost
At 1 June 2023 11,491
Additions 4,990
At 31 May 2024 16,481
Depreciation
At 1 June 2023 3,337
Charge for year 1,829
At 31 May 2024 5,166
Net book value
At 31 May 2024 11,315
At 31 May 2023 8,154

5. Investment property
Total
£   
Fair value
At 1 June 2023 494,667
Additions 197,128
Revaluations 53,205
At 31 May 2024 745,000
Net book value
At 31 May 2024 745,000
At 31 May 2023 494,667

At the balance sheet date fixed charges were held over the investment properties. The charges include a negative pledge.

SZK ESTATES LTD (REGISTERED NUMBER: 12580883)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


6. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 24,839 24,840
Prepayments and accrued income 253 245
25,092 25,085

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors - 1
Other creditors 251,263 142,394
Directors' loan accounts 12,485 53,954
Accruals and deferred income 1,000 1,000
264,748 197,349

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans more 5 yr by instal 473,797 335,817

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 473,797 335,817

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary shares £1 100 100

10. Reserves
Revaluation
reserve
£   
At 1 June 2023 18,997
Revaluation transfer (18,997 )

At 31 May 2024 -