Company registration number 10639994 (England and Wales)
CAMBRIDGE MK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
CAMBRIDGE MK LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
CAMBRIDGE MK LIMITED
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 1 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Investment property
4
2,488,000
2,488,000
Current assets
Debtors
3
1,710,248
1,578,821
Cash at bank and in hand
77,531
9,676
1,787,779
1,588,497
Creditors: amounts falling due within one year
5
(958,477)
(750,572)
Net current assets
829,302
837,925
Total assets less current liabilities
3,317,302
3,325,925
Creditors: amounts falling due after more than one year
6
(1,787,058)
(1,787,034)
Provisions for liabilities
(521)
(521)
Net assets
1,529,723
1,538,370
Capital and reserves
Called up share capital
7
1,756,732
1,756,732
Other reserves
1,562
1,562
Profit and loss reserves
(228,571)
(219,924)
Total equity
1,529,723
1,538,370
CAMBRIDGE MK LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2024
31 July 2024
- 2 -

For the financial year ended 31 July 2024 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 29 April 2025 and are signed on its behalf by:
Mr M K M Wong
Director
Company registration number 10639994 (England and Wales)
CAMBRIDGE MK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
1
Accounting policies
Company information

Cambridge MK Limited is a private company limited by shares incorporated in England and Wales. The registered office is 11 Way Lane, Waterbeach, Cambridge, Cambridgeshire, CB25 9NQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents rentals received on properties.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

CAMBRIDGE MK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
587,545
1,274,700
Other debtors
1,122,703
304,121
1,710,248
1,578,821
4
Investment property
2024
£
Fair value
At 1 August 2023 and 31 July 2024
2,488,000

The fair value of the investment properties have been arrived at on the basis of a valuation carried out at the year end by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

CAMBRIDGE MK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
4
Investment property
(Continued)
- 5 -
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2024
2023
£
£
Cost
2,601,774
2,601,774
Accumulated depreciation
-
-
Carrying amount
2,601,774
2,601,774
5
Creditors: amounts falling due within one year
2024
2023
as restated
£
£
Corporation tax
91,177
91,177
Other creditors
867,300
659,395
958,477
750,572
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
1,787,058
1,787,034

The long-term loans are secured by fixed charges over the investment properties of the business. Interest is charged on these loans at a rate of 3.80%, 5.19% and 3.69% per annum.

7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
9,900
9,900
9,900
9,900
CAMBRIDGE MK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
7
Called up share capital
(Continued)
- 6 -
2024
2023
2024
2023
as restated
as restated
Preference share capital
Number
Number
£
£
Issued and fully paid
Redeemable preference shares of £1 each
1,746,832
1,746,832
1,746,832
1,746,832
Preference shares classified as equity
1,746,832
1,746,832
Total equity share capital
1,756,732
1,756,732

The company issued 231,000 redeemable preference shares of £1 each on 7 December 2022.

 

Each share has full rights in the company with respect to dividends and distributions.

8
Related party transactions

There is an amount of £848,000 (2023: £640,000 as restated) owed to MC Cambridge Limited, a connected company by virtue of common control.

 

There is an amount of £587,545 (2023: £1,274,700) owed by MK Cambridge Limited, a connected company by virtue of common control.

 

There is an amount of £14,000 (2023: £nil) owed to MC Alpine Limited, a connected company by virtue of common control.

9
Directors' transactions

Included within other debtors is an amount of £977,453 (2023: £172,298) owed to the company by the directors.

 

No interest has been charged and is repayable on demand.

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