Registered number
09109662
MK Home Improvements Ltd
Filleted Accounts
31 July 2024
MK Home Improvements Ltd
Registered number: 09109662
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Current assets
Debtors 4 1,542 540
Cash at bank and in hand 1,789 4,363
3,331 4,903
Creditors: amounts falling due within one year 5 (72,242) (65,549)
Net current liabilities (68,911) (60,646)
Net liabilities (68,911) (60,646)
Capital and reserves
Called up share capital 2 2
Profit and loss account (68,913) (60,648)
Shareholders' funds (68,911) (60,646)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Karaica
Director
Approved by the board on 25 February 2025
MK Home Improvements Ltd
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Going Conern
The company has an excess of liabilities over assets at 31st July 2019 and the company's ability to continue trading is dependant on the full support of the company's directors and shareholders. The directors consider that the company will continue to trade for the foreseeable future and accordingly the financial statements are prepared on a going concern basis.
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
4 Debtors 2024 2023
£ £
Trade debtors 1,542 540
5 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 72,242 65,549
6 Controlling party
The directors of the company are also the shareholders.
7 Other information
MK Home Improvements Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1a Whitefield Avenue
Purley
Surrey
CR8 4BN
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