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Company Registration No. 12940151 (England and Wales)
MK LIFESTYLE PROPERTIES LTD Unaudited accounts for the year ended 31 October 2023
MK LIFESTYLE PROPERTIES LTD Unaudited accounts Contents
Page
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MK LIFESTYLE PROPERTIES LTD Company Information for the year ended 31 October 2023
Director
Adetokunbo Mobolaji Kashoro
Secretary
Adetokunbo Mobolaji Kashoro
Company Number
12940151 (England and Wales)
Registered Office
14 BARNWELL ROAD DARTFORD DA1 5QS UNITED KINGDOM
Accountants
Sodavic & Associates 193 Sixth Avenue London E12 5PT
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MK LIFESTYLE PROPERTIES LTD Accountants' report
Accountants' report to the director of MK LIFESTYLE PROPERTIES LTD on the preparation of the unaudited statutory accounts for the year ended 31 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MK LIFESTYLE PROPERTIES LTD for the year ended 31 October 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of MK LIFESTYLE PROPERTIES LTD, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of MK LIFESTYLE PROPERTIES LTD and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MK LIFESTYLE PROPERTIES LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that MK LIFESTYLE PROPERTIES LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of MK LIFESTYLE PROPERTIES LTD. You consider that MK LIFESTYLE PROPERTIES LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of MK LIFESTYLE PROPERTIES LTD. 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 accounts.
Sodavic & Associates 193 Sixth Avenue London E12 5PT 4 February 2025
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MK LIFESTYLE PROPERTIES LTD Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investment property
340,738 
340,738 
Current assets
Debtors
15,730 
18,407 
Cash at bank and in hand
17,618 
2,261 
33,348 
20,668 
Creditors: amounts falling due within one year
(34,091)
(21,116)
Net current liabilities
(743)
(448)
Total assets less current liabilities
339,995 
340,290 
Creditors: amounts falling due after more than one year
(323,738)
(340,739)
Net assets/(liabilities)
16,257 
(449)
Capital and reserves
Called up share capital
(1)
(1)
Profit and loss account
16,258 
(448)
Shareholders' funds
16,257 
(449)
For the year ending 31 October 2023 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 her 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 3 February 2025 and were signed on its behalf by
Adetokunbo Mobolaji Kashoro Director Company Registration No. 12940151
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MK LIFESTYLE PROPERTIES LTD Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
MK LIFESTYLE PROPERTIES LTD is a private company, limited by shares, registered in England and Wales, registration number 12940151. The registered office is 14 BARNWELL ROAD, DARTFORD, DA1 5QS, 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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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.
Deferred taxation
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.
4
Investment property
2023 
£ 
Fair value at 1 November 2022
340,738 
At 31 October 2023
340,738 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
15,730 
18,407 
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MK LIFESTYLE PROPERTIES LTD Notes to the Accounts for the year ended 31 October 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
4,047 
2,567 
Other creditors
14,840 
3,980 
Loans from directors
13,069 
13,069 
Accruals
2,135 
1,500 
34,091 
21,116 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
297,905 
297,905 
Other creditors
25,833 
42,834 
323,738 
340,739 
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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