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Registered number: 07697157
MBK Properties Limited
Financial Statements
For The Year Ended 31 December 2024
BBK Partnership
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ
Contents
Page
Company Information 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—5
Page 1
Company Information
Director Mr Santhirasegaram Ketheeswaran
Company Number 07697157
Registered Office 704-708 Uxbridge Road
Hayes
UB4 0RX
Accountants BBK Partnership
Chartered Accountants & Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ
Page 1
Page 2
Statement of Financial Position
Registered number: 07697157
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 4,293,378 4,293,378
4,293,378 4,293,378
CURRENT ASSETS
Cash at bank and in hand 5,621 4,818
5,621 4,818
Creditors: Amounts Falling Due Within One Year 5 (828,365 ) (686,284 )
NET CURRENT ASSETS (LIABILITIES) (822,744 ) (681,466 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,470,634 3,611,912
Creditors: Amounts Falling Due After More Than One Year 6 (2,961,744 ) (3,080,079 )
NET ASSETS 508,890 531,833
CAPITAL AND RESERVES
Called up share capital 7 100 100
Income Statement 508,790 531,733
SHAREHOLDERS' FUNDS 508,890 531,833
Page 2
Page 3
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Santhirasegaram Ketheeswaran
Director
13/03/2024
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
MBK Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07697157 . The registered office is 704-708 Uxbridge Road, Hayes, UB4 0RX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Investment Property
2024
£
Fair Value
As at 1 January 2024 and 31 December 2024 4,293,378
Page 4
Page 5
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Amounts owed to group undertakings 311,000 161,000
Other creditors 509,298 517,217
Taxation and social security 8,067 8,067
828,365 686,284
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bounce back loan 25,383 34,768
Bank loans more 5 yr by instal 2,936,361 3,045,311
2,961,744 3,080,079
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5