Minka Property Group Ltd 15013262 false 2023-07-19 2024-07-31 2024-07-31 The principal activity of the company is That of other letting and operating of own or leased real estate Digita Accounts Production Advanced 6.30.9574.0 true true 15013262 2023-07-19 2024-07-31 15013262 2024-07-31 15013262 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 15013262 core:FurnitureFittingsToolsEquipment 2024-07-31 15013262 bus:SmallEntities 2023-07-19 2024-07-31 15013262 bus:AuditExemptWithAccountantsReport 2023-07-19 2024-07-31 15013262 bus:FullAccounts 2023-07-19 2024-07-31 15013262 bus:SmallCompaniesRegimeForAccounts 2023-07-19 2024-07-31 15013262 bus:RegisteredOffice 2023-07-19 2024-07-31 15013262 bus:Director1 2023-07-19 2024-07-31 15013262 bus:PrivateLimitedCompanyLtd 2023-07-19 2024-07-31 15013262 core:FurnitureFittingsToolsEquipment 2023-07-19 2024-07-31 15013262 core:OfficeEquipment 2023-07-19 2024-07-31 15013262 1 2023-07-19 2024-07-31 15013262 countries:AllCountries 2023-07-19 2024-07-31 iso4217:GBP xbrli:pure

Registration number: 15013262

Minka Property Group Ltd

Unaudited Filleted Financial Statements

for the Period from 19 July 2023 to 31 July 2024

 

Minka Property Group Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Minka Property Group Ltd

(Registration number: 15013262)
Balance Sheet as at 31 July 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

1,158

Current assets

 

Cash at bank and in hand

 

402

Creditors: Amounts falling due within one year

5

(8,337)

Net current liabilities

 

(7,935)

Net liabilities

 

(6,777)

Capital and reserves

 

Called up share capital

100

Retained earnings

(6,877)

Shareholders' deficit

 

(6,777)

For the financial period ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 April 2025 and signed on its behalf by:
 

.........................................
Mr M B Norris
Director

 

Minka Property Group Ltd

Notes to the Unaudited Financial Statements for the Period from 19 July 2023 to 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Suite G18
Genesis Centre
Innovation Way
Stoke on Trent
ST6 4BF

These financial statements were authorised for issue by the Board on 15 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. At 31st July 2024 the company has negative reserves of £6,877, the company has the continued support of the directors who have confirmed they will not call in their directors loan in the next 12 months.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Minka Property Group Ltd

Notes to the Unaudited Financial Statements for the Period from 19 July 2023 to 31 July 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

20% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
 

Financial instruments

Recognition and measurement
A financial asset or financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis or similar credit risk characteristics.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

 

Minka Property Group Ltd

Notes to the Unaudited Financial Statements for the Period from 19 July 2023 to 31 July 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

1,447

1,447

At 31 July 2024

1,447

1,447

Depreciation

Charge for the period

289

289

At 31 July 2024

289

289

Carrying amount

At 31 July 2024

1,158

1,158

5

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Accruals and deferred income

954

Other creditors

7,383

8,337

6

Related party transactions

All transactions undertaken with related parties were under normal market conditions and/or not material.

7

Non adjusting events after the financial period

There were no material events up to the date of approval of the financial statements as approved by the board.