Company Registration No. 11808433 (England and Wales)
MKM INVESTMENT PROPERTIES LTD
Unaudited accounts
for the year ended 29 February 2024
MKM INVESTMENT PROPERTIES LTD
Unaudited accounts
Contents
MKM INVESTMENT PROPERTIES LTD
Company Information
for the year ended 29 February 2024
Directors
Manas Ranjan SAHOO
Manjunath Harish VINAYAGAM
Company Number
11808433 (England and Wales)
Registered Office
FLAT 70 ABBOTTS WHARF
STAINSBY ROAD
LONDON
E14 6JN
UNITED KINGDOM
Accountants
Trimantic Accountants
1 Victor House
Barnet Road
London Colney
AL2 1BJ
MKM INVESTMENT PROPERTIES LTD
Statement of financial position
as at 29 February 2024
Investment property
936,000
936,000
Cash at bank and in hand
18,980
134,381
Creditors: amounts falling due within one year
(229,232)
(346,399)
Net current liabilities
(210,252)
(212,018)
Total assets less current liabilities
725,748
723,982
Creditors: amounts falling due after more than one year
(703,559)
(703,559)
Called up share capital
10
10
Profit and loss account
22,179
20,413
Shareholders' funds
22,189
20,423
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 directors acknowledge their 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 of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by
Manjunath Harish VINAYAGAM
Director
Company Registration No. 11808433
MKM INVESTMENT PROPERTIES LTD
Notes to the Accounts
for the year ended 29 February 2024
MKM INVESTMENT PROPERTIES LTD is a private company, limited by shares, registered in England and Wales, registration number 11808433. The registered office is FLAT 70 ABBOTTS WHARF, STAINSBY ROAD, LONDON, E14 6JN, UNITED KINGDOM.
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.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Change of preparation basis
The company changed from preparing its financial statements under FRS105 to preparing them under FRS102 for the year ended 28 February 2022. This required the company to apply FRS102 to the financial statements for the year ended 29 February 2021 and restate those accounts where the change of reporting standard resulted in differences to the reported results. However, having applied the provisions of FRS102 to the previous year's accounts, no differences resulted, hence no restatement of the accounts is required.
Fair value at 1 March 2023
936,000
At 29 February 2024
936,000
The company prepared its financial statement under FRS102 for the year ended 28 February 2024. As required by FRS102, the company's investment properties were revalued to their market value at the Balance Sheet date.
The carrying value of each investment property was assessed by the directors at the Balance Sheet date. Data was collected from local estate agents, property sales websites and the mortgage valuation assessments carried out on the properties.
MKM INVESTMENT PROPERTIES LTD
Notes to the Accounts
for the year ended 29 February 2024
5
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
414
4,240
Other creditors
220,000
220,000
Loans from directors
8,818
122,159
6
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
703,559
703,559
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10
10
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).