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REGISTERED NUMBER: 11557478 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JANUARY 2024

FOR

TAKK PROPERTIES LIMITED

TAKK PROPERTIES LIMITED (REGISTERED NUMBER: 11557478)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TAKK PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JANUARY 2024







DIRECTORS: Mr J S Takk
Mrs N A Takk





REGISTERED OFFICE: 4 Kings Row
Armstrong Road
Maidstone
Kent
ME15 6AQ





REGISTERED NUMBER: 11557478 (England and Wales)





ACCOUNTANTS: Mackenzies Accountants Limited
Chartered Accountants
1 Langley Court
Pyle Street
Newport
Isle of Wight
PO30 1LA

TAKK PROPERTIES LIMITED (REGISTERED NUMBER: 11557478)

BALANCE SHEET
30 JANUARY 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 385,950 386,564

CURRENT ASSETS
Prepayments and accrued income 4,000 8,000
Cash at bank and in hand 8,713 16,835
12,713 24,835
CREDITORS
Amounts falling due within one year 5 232,664 242,016
NET CURRENT LIABILITIES (219,951 ) (217,181 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

165,999

169,383

CREDITORS
Amounts falling due after more than one
year

6

(116,134

)

(121,224

)

PROVISIONS FOR LIABILITIES 8 (350 ) (467 )
NET ASSETS 49,515 47,692

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 49,415 47,592
SHAREHOLDERS' FUNDS 49,515 47,692

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 January 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.

TAKK PROPERTIES LIMITED (REGISTERED NUMBER: 11557478)

BALANCE SHEET - continued
30 JANUARY 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by:





Mr J S Takk - Director


TAKK PROPERTIES LIMITED (REGISTERED NUMBER: 11557478)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JANUARY 2024


1. STATUTORY INFORMATION

Takk Properties Limited 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.

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.

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.
Fixtures and fittings - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

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 2 (2023 - 2 ) .

TAKK PROPERTIES LIMITED (REGISTERED NUMBER: 11557478)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JANUARY 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£ £ £
COST
At 31 January 2023
and 30 January 2024 384,107 5,804 389,911
DEPRECIATION
At 31 January 2023 - 3,347 3,347
Charge for year - 614 614
At 30 January 2024 - 3,961 3,961
NET BOOK VALUE
At 30 January 2024 384,107 1,843 385,950
At 30 January 2023 384,107 2,457 386,564

The company owns the unencumbered freehold of the commercial office building 70 High Street, Chatham, Kent and the commercial office building 25 County Road, Maidstone, Kent.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 4,774 4,457
Amounts owed to associates 178,867 184,194
Tax 779 8,018
Other creditors 15,000 15,000
Directors' current accounts 29,974 28,397
Accrued expenses 3,270 1,950
232,664 242,016

The amount owed to associated company of £178,867 (2023: £184,194) is due to Takk and Company Limited, a company controlled by one of the directors; Mr J S Takk.

Other creditors amount to £15,000 (2023: £15,000) and relates to a rent deposit.

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans - 1-2 years 4,774 4,457
Bank loans - 2-5 years 14,322 13,372
Bank loans - over 5 years 97,038 103,395
116,134 121,224

TAKK PROPERTIES LIMITED (REGISTERED NUMBER: 11557478)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JANUARY 2024


6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£ £
Amounts falling due in more than five years:

Repayable by instalments
Bank loans - over 5 years 97,038 103,395

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans 120,908 125,681

The bank loan is secured by way of a fixed charge held over the freehold property, 25 County Road.

8. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 350 467

Deferred tax
£
Balance at 31 January 2023 467
Provided during year (117 )
Balance at 30 January 2024 350

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100

10. RELATED PARTY DISCLOSURES

The company received rental income of £24,000 (2023: £24,000) from Takk and Company (Medway) Limited and £24,000 (2023: £25,000) from Takk and Company Limited. These rents are considered to be at open market rate. Mr J S Takk; one of the company directors; controls both of these companies.

11. ULTIMATE CONTROLLING PARTY

No individual is the ultimate controlling party. The directors are Mr J S Takk and Mrs N A Takk who each own 50% of the issued share capital.