Registered number
12738763
GKS & MK PROPERTIES LIMITED
Filleted Accounts
31 July 2024
GKS & MK PROPERTIES LIMITED
Registered number: 12738763
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,122,045 517,939
Current assets
Debtors 4 4,968 5,381
Cash at bank and in hand 171,710 9,967
176,678 15,348
Creditors: amounts falling due within one year 5 (67,495) (93,168)
Net current assets/(liabilities) 109,183 (77,820)
Total assets less current liabilities 1,231,228 440,119
Creditors: amounts falling due after more than one year 6 (784,240) (5,384)
Provisions for liabilities (5,563) -
Net assets 441,425 434,735
Capital and reserves
Called up share capital 200 200
Share premium 392,900 392,900
Revaluation reserve 8 39,046 -
Profit and loss account 9,279 41,635
Shareholders' funds 441,425 434,735
The director is 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 director acknowledges her 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.
Mrs Mandeep Kaur KHABRA
Director
Approved by the board on 16 April 2025
GKS & MK PROPERTIES LIMITED
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 (if applicable). Turnover represents the value of rent receivable.
Investment properties
Investment properties are revalued on an annual basis, with any resulting surplus or deficit transferred to the revaluation reserve. Depreciation is not charged on investment properties.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Investment properties
Land and buildings
£
Cost
At 1 August 2023 517,939
Additions 552,045
Surplus on revaluation 52,061
At 31 July 2024 1,122,045
Depreciation
At 31 July 2024 -
Net book value
At 31 July 2024 1,122,045
At 31 July 2023 517,939
Freehold land and buildings: 2024 2023
£ £
Historical cost 1,069,984 517,940
1,069,984 517,940
The fair value of the investment properties was determined by the directors, who are of the opinion that the stated fair value accurately reflects the properties' current market value.
4 Debtors 2024 2023
£ £
Directors current accounts 4,968 5,381
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,449 85,383
Trade creditors 720 720
Taxation and social security costs - 3,220
Other creditors 64,326 3,845
67,495 93,168
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 784,240 5,384
7 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 781,305 -
Secured bank loans 781,305 82,994
The bank loan is secured by first charge over the freehold land and buildings held by the company.
8 Revaluation reserve 2024 2023
£ £
Gain on revaluation of land and buildings 52,061 -
Deferred taxation arising on the revaluation of land and buildings (13,015) -
At 31 July 2024 39,046 -
9 Related party transactions
During the period, a total management fee of £5,400 (2023: £5,400) was paid to Shivstar Legal Services Ltd, a company incorporated in England and Wales and controlled by Mrs. Mandeep K Khabra, a director of the reporting entity.

Other creditors include an unsecured, interest-free loan of £60,000 (2023: £NIL) from SS & MK Properties Ltd, a company incorporated in England and Wales under common control. The loan is repayable on demand.
10 Controlling party
During the period the company was controlled by its directors Mrs G K Sidhu and Mrs M K Khabra.
11 Other information
GKS & MK PROPERTIES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
3 Craneswater Park
Southall
Middlesex
United Kingdom
UB2 5RW
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