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Registration number: 10429400

MSKH Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

MSKH Properties Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 6

 

MSKH Properties Limited

(Registration number: 10429400)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,436,919

2,358,525

Current assets

 

Debtors

5

1,140

1,054

Cash at bank and in hand

 

2,213

6,341

 

3,353

7,395

Creditors: Amounts falling due within one year

6

(1,371,448)

(1,320,009)

Net current liabilities

 

(1,368,095)

(1,312,614)

Total assets less current liabilities

 

1,068,824

1,045,911

Creditors: Amounts falling due after more than one year

6

(865,705)

(924,395)

Net assets

 

203,119

121,516

Capital and reserves

 

Called up share capital

205

205

Retained earnings

202,914

121,311

Shareholders' funds

 

203,119

121,516

 

MSKH Properties Limited

(Registration number: 10429400)
Balance Sheet as at 31 October 2024

For the financial year ending 31 October 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; and

The directors acknowledge their 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 June 2025 and signed on its behalf by:
 

.........................................
Mr M Singh
Director

 

MSKH Properties Limited

Notes to the Financial Statements for the Year Ended 31 October 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:
15 Stratton Road
Swindon
Wiltshire
SN1 2PN

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover is made up of rents receivable.

Tax

The tax expense for the period comprises current tax payable.

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 balance sheet 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

Land and buildings

Nil

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.

 

MSKH Properties Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 November 2023

2,358,525

2,358,525

Additions

78,394

78,394

At 31 October 2024

2,436,919

2,436,919

Depreciation

Carrying amount

At 31 October 2024

2,436,919

2,436,919

At 31 October 2023

2,358,525

2,358,525

 

MSKH Properties Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

Revaluation

The fair value of the company's properties were valued on 31 October 2019. An independent valuer was not involved.

The carrying amounts of £2,436,918 were valued by the directors on the basis of market value.

5

Debtors

2024
£

2023
£

Prepayments

340

254

Other debtors

800

800

1,140

1,054

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

65,380

52,822

Taxation and social security

 

24,320

12,241

Other creditors

 

1,281,748

1,254,946

 

1,371,448

1,320,009

Creditors include bank loans which are secured against investment properties.

Creditors include amounts owed to directors of £1,263,310 (2023 - £1,251,921).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

865,705

924,395

Creditors include bank loans which are secured against investment properties.

 

MSKH Properties Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

65,380

52,822

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

865,705

924,395