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REGISTERED NUMBER: 03509907 (England and Wales)











Financial Statements

for the Year Ended 29 February 2024

for

TK REST LTD

TK REST LTD (REGISTERED NUMBER: 03509907)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TK REST LTD

Company Information
for the Year Ended 29 February 2024







DIRECTOR: Mr M J Breen





REGISTERED OFFICE: 42 Lytton Road
Barnet
Hertfordshire
EN5 5BY





REGISTERED NUMBER: 03509907 (England and Wales)





ACCOUNTANTS: Jeff Lermer & Associates
Chartered Accountants
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY

TK REST LTD (REGISTERED NUMBER: 03509907)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 1,000,000 1,245,000
1,000,000 1,245,000

CURRENT ASSETS
Debtors 6 21,766 17,873
Cash at bank 6,008 2,675
27,774 20,548
CREDITORS
Amounts falling due within one year 7 767,121 767,556
NET CURRENT LIABILITIES (739,347 ) (747,008 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

260,653

497,992

CREDITORS
Amounts falling due after more than one year 8 (18,076 ) (20,971 )

PROVISIONS FOR LIABILITIES 10 (73,074 ) (134,324 )
NET ASSETS 169,503 342,697

CAPITAL AND RESERVES
Called up share capital 11 2 2
Revaluation reserve 219,222 402,972
Retained earnings (49,721 ) (60,277 )
SHAREHOLDERS' FUNDS 169,503 342,697

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

TK REST LTD (REGISTERED NUMBER: 03509907)

Balance Sheet - continued
29 February 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 director and authorised for issue on 29 November 2024 and were signed by:





Mr M J Breen - Director


TK REST LTD (REGISTERED NUMBER: 03509907)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

TK Rest 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 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.
Computer equipment - 33% on cost

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 balance sheet date.

Going concern
The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future and therefore used the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

TK REST LTD (REGISTERED NUMBER: 03509907)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Computer
equipmen
£   
COST
At 1 March 2023
and 29 February 2024 658
DEPRECIATION
At 1 March 2023
and 29 February 2024 658
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 1,245,000
Revaluations (245,000 )
At 29 February 2024 1,000,000
NET BOOK VALUE
At 29 February 2024 1,000,000
At 28 February 2023 1,245,000

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2022 537,295
Valuation in 2024 (245,000 )
Cost 707,705
1,000,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors - 4,967
Amounts owed by group undertakings 21,766 12,906
21,766 17,873

TK REST LTD (REGISTERED NUMBER: 03509907)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts (see note 9) 3,473 3,473
Other loans (see note 9) 762,688 762,688
VAT - 435
Accruals and deferred income 960 960
767,121 767,556

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans (see note 9) 18,076 20,971

9. LOANS

An analysis of the maturity of loans is given below:

29.2.24 28.2.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 3,473 3,473
Other loans 762,688 762,688
766,161 766,161

Amounts falling due between one and two years:
Bank loans - 1-2 years 3,473 3,473

Amounts falling due between two and five years:
Bank loans - 2-5 years 14,603 17,498

10. PROVISIONS FOR LIABILITIES
29.2.24 28.2.23
£    £   
Deferred tax 73,074 134,324

Deferred
tax
£   
Balance at 1 March 2023 134,324
Provided during year (61,250 )
Balance at 29 February 2024 73,074

TK REST LTD (REGISTERED NUMBER: 03509907)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
2 Ordinary £1 2 2

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at the balance sheet date, included in debtors due within one year is £4,230 (2023: £Nil), due and payable by the director. This amount was repaid within 9 months of the year end.

13. RELATED PARTY DISCLOSURES

At the balance sheet date, the company was owed an amount of £21,766 (2023: £12,906) by Mayfair Castle Limited, a company in which the director, Mr M J Breen, has common control.