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Logo On Report
Registered Number: 13379473
England and Wales

 

 

 

P K RESIDENCES LTD



Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2023

End date: 31 May 2024
  2024   2023
    £ £   £ £
Fixed assets   1,103,720      1,104,960 
Current assets 832,343      808,320   
Creditors: amount falling due within one year (24,151)     (18,557)  
Net current assets   808,192      789,763 
Total assets less current liabilities   1,911,912      1,894,723 
Creditors: amount falling due after more than one year   (1,864,833)     (1,864,834)
Net assets   47,079      29,889 
 

         
Capital and reserves   47,079      29,889 
 
NOTES TO THE ACCOUNTS

General Information
P K Residences Ltd is a private company, limited by shares, registered in England and Wales, registration number 13379473, registration address 188 Mitcham Road, London, SW17 9NJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
2.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Land and Buildings   Total
  £   £   £
At 01 June 2023 6,200    1,100,000    1,106,200 
Additions    
Disposals    
At 31 May 2024 6,200    1,100,000    1,106,200 
Depreciation
At 01 June 2023 1,240      1,240 
Charge for year 1,240      1,240 
On disposals    
At 31 May 2024 2,480      2,480 
Net book values
Closing balance as at 31 May 2024 3,720    1,100,000    1,103,720 
Opening balance as at 01 June 2023 4,960    1,100,000    1,104,960 

The net book value of Land and Buildings includes £ 1,100,000 (2023 £1,100,000) in respect of assets leased under finance leases or hire purchase contracts.

3.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).


For the year ended 31 May 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 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 accounts.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 15 April 2025 and were signed on its behalf by:


--------------------------------
Khurram Ali Khalid
Director
1