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REGISTERED NUMBER: 07007402 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

TAKK AND COMPANY (MEDWAY) LTD

TAKK AND COMPANY (MEDWAY) LTD (REGISTERED NUMBER: 07007402)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TAKK AND COMPANY (MEDWAY) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Mr J S Takk





REGISTERED OFFICE: 4 Kings Row
Armstrong Road
Maidstone
Kent
ME15 6AQ





REGISTERED NUMBER: 07007402 (England and Wales)





ACCOUNTANTS: Mackenzies, a Xeinadin company
1 Langley Court
Pyle Street
Newport
Isle of Wight
PO30 1LA

TAKK AND COMPANY (MEDWAY) LTD (REGISTERED NUMBER: 07007402)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £ £ £
FIXED ASSETS
Tangible assets 4 3,895 6,822

CURRENT ASSETS
Debtors 5 56,492 47,296
Cash at bank 104,576 55,191
161,068 102,487
CREDITORS
Amounts falling due within one year 6 220,050 225,260
NET CURRENT LIABILITIES (58,982 ) (122,773 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(55,087

)

(115,951

)

CREDITORS
Amounts falling due after more than one
year

7

19,704

39,408
NET LIABILITIES (74,791 ) (155,359 )

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings (75,791 ) (156,359 )
SHAREHOLDERS' FUNDS (74,791 ) (155,359 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

TAKK AND COMPANY (MEDWAY) LTD (REGISTERED NUMBER: 07007402)

BALANCE SHEET - continued
31 MAY 2024


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 March 2025 and were signed by:





Mr J S Takk - Director


TAKK AND COMPANY (MEDWAY) LTD (REGISTERED NUMBER: 07007402)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Takk And Company (Medway) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

TAKK AND COMPANY (MEDWAY) LTD (REGISTERED NUMBER: 07007402)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£ £ £
COST
At 1 June 2023
and 31 May 2024 4,816 11,586 16,402
DEPRECIATION
At 1 June 2023 2,438 7,142 9,580
Charge for year 475 2,452 2,927
At 31 May 2024 2,913 9,594 12,507
NET BOOK VALUE
At 31 May 2024 1,903 1,992 3,895
At 31 May 2023 2,378 4,444 6,822

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors 17,364 12,000
Tax 10,727 10,727
Prepayments and accrued income 28,401 24,569
56,492 47,296

Other debtors includes an amount in relation to a rent deposit totalling £12,000 (2023: £12,000), and an amount of £5,364 (2023: £nil) refunded by the credit card company after the year-end as a result of the company being subject to credit card fraud.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts (see note 8) 29,408 19,704
Amounts owed to associates 135,172 84,041
Social security and other taxes 4,238 4,918
VAT 39,748 103,033
Other creditors 1,039 4,769
Directors' current accounts 1,639 29
Accrued expenses 8,806 8,766
220,050 225,260

Other creditors consists of an amount of £1,039 (2023: £910) due in respect of pension contributions.

TAKK AND COMPANY (MEDWAY) LTD (REGISTERED NUMBER: 07007402)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans (see note 8) 19,704 39,408

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£ £
Amounts falling due within one year or on demand:
Bank loans 29,408 19,704

Amounts falling due between one and two years:
Bank loans - 1-2 years 19,704 19,704

Amounts falling due between two and five years:
Bank loans - 2-5 years - 19,704

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
1,000 Ordinary £1 1,000 1,000

10. RELATED PARTY DISCLOSURES

During the year the company paid rent to Takk Properties Limited amounting to £24,000 (2023:£24,000).
This company is controlled by Mr J S Takk.

During the year the company paid management fees to Takk & Co Ltd amounting to £nil (2023: £30,000). This company is controlled by Mr J S Takk. There is a balance of £135,172 owed to Takk & Co Ltd at the year end.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J S Takk.

12. GOING CONCERN

The company had net liabilities as at 31st May 2024. The company's position has improved significantly during the year and continues to do so, and the director has confirmed that he will continue to support the company. Therefore, the director considers that the company remains a going concern