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Registration number: 15101987

MKP Advisors Ltd

Unaudited Financial Statements

for the Period from 29 August 2023 to 31 August 2024

Brebners
Chartered Accountants
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

 

MKP Advisors Ltd

Statement of Financial Position as at 31 August 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

9,352

Current assets

 

Debtors

5

123,637

Cash at bank and in hand

 

274,198

 

397,835

Creditors: Amounts falling due within one year

6

(395,193)

Net current assets

 

2,642

Net assets

 

11,994

Capital and reserves

 

Called up share capital

1

Retained earnings

11,993

Shareholders' funds

 

11,994

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

Director's 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 director acknowledges his 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The director has elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, section 444.

Approved and authorised by the director on 29 April 2025
 

.........................................

Mr M R Kelly

Director

Company registration number: 15101987

 

MKP Advisors Ltd

Notes to the Unaudited Financial Statements for the Period from 29 August 2023 to 31 August 2024

1

General information

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

The address of its registered office is:
130 Shaftesbury Avenue
London
W1D 5AR

The principal activity of the company is that of investment advisors.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company made a profit for the period ended 30 August 2024 and had net assets at that date of £11,994.

The company has continued to trade profitably subsequent to 30 August 2024 and the directors do not believe the current economic conditions or world conflicts will have a material effect on the company.

On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration receivable for the provision of investment services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue from advisory services over the period in which the services were provided.

 

MKP Advisors Ltd

Notes to the Unaudited Financial Statements for the Period from 29 August 2023 to 31 August 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

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% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

MKP Advisors Ltd

Notes to the Unaudited Financial Statements for the Period from 29 August 2023 to 31 August 2024

3

Staff numbers

The average number of persons employed by the company during the period, was 3.

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

Additions

10,325

10,325

At 31 August 2024

10,325

10,325

Depreciation

Charge for the period

973

973

At 31 August 2024

973

973

Carrying amount

At 31 August 2024

9,352

9,352

5

Debtors

2024
£

Trade debtors

114,712

Other debtors

8,925

123,637

6

Creditors

Creditors: amounts falling due within one year

2024
£

Taxation and social security

112,249

Accruals and deferred income

231,380

Other creditors

51,564

395,193