REGISTERED NUMBER: 03509907 (England and Wales)

Financial Statements

for the Year Ended 28 February 2025

for

TK REST LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M J Breen

REGISTERED OFFICE:

42 Lytton Road

Barnet

Hertfordshire

EN5 5BY

REGISTERED NUMBER:

03509907 (England and Wales)

ACCOUNTANTS:

Jeff Lermer & Associates

Chartered Accountants

42 Lytton Road

Barnet

Hertfordshire

EN5 5BY

FIXED ASSETS

Tangible assets

4

592

-

Investment property

5

1,000,000

1,000,000

1,000,592

1,000,000

CURRENT ASSETS

Debtors

6

25,983

21,766

Cash at bank

5,433

6,008

31,416

27,774

CREDITORS

Amounts falling due within one year

7

767,557

767,121

NET CURRENT LIABILITIES

(736,141

)

(739,347

)

TOTAL ASSETS LESS CURRENT LIABILITIES

264,451

260,653

CREDITORS

Amounts falling due after more than one year

8

(15,109

)

(18,076

)

PROVISIONS FOR LIABILITIES

10

(73,074

)

(73,074

)

NET ASSETS

176,268

169,503

CAPITAL AND RESERVES

Called up share capital

11

2

2

Revaluation reserve

219,222

219,222

Retained earnings

(42,956

)

(49,721

)

SHAREHOLDERS' FUNDS

176,268

169,503

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 November 2025 and were signed by:

Mr M J Breen - Director

1.	STATUTORY INFORMATION

TK Rest 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

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

-

25% on reducing balance

Computer equipment

-

Straight line over 3 years

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Going concern

The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future and therefore used the going concern basis in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 March 2024

-

658

658

Additions

789

-

789

At 28 February 2025

789

658

1,447

DEPRECIATION

At 1 March 2024

-

658

658

Charge for year

197

-

197

At 28 February 2025

197

658

855

NET BOOK VALUE

At 28 February 2025

592

-

592

At 29 February 2024

-

-

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2024

and 28 February 2025

1,000,000

NET BOOK VALUE

At 28 February 2025

1,000,000

At 29 February 2024

1,000,000

Fair value at 28 February 2025 is represented by:

£

Valuation in 2022

537,295

Valuation in 2024

(245,000

)

Cost

707,705

1,000,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Amounts owed by group undertakings

-

21,766

Directors' current accounts

25,983

-

25,983

21,766

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Bank loans and overdrafts (see note 9)

3,473

3,473

Other loans (see note 9)

763,124

762,688

Accruals and deferred income

960

960

767,557

767,121

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.25

29.2.24

£

£

Bank loans (see note 9)

15,109

18,076

9.

LOANS

An analysis of the maturity of loans is given below:

28.2.25

29.2.24

£

£

Amounts falling due within one year or on demand:

Bank loans

3,473

3,473

Other loans

763,124

762,688

766,597

766,161

Amounts falling due between one and two years:

Bank loans - 1-2 years

3,473

3,473

Amounts falling due between two and five years:

Bank loans - 2-5 years

11,636

14,603

10.	PROVISIONS FOR LIABILITIES

28.2.25

29.2.24

£

£

Deferred tax

73,074

73,074

Deferred

tax

£

Balance at 1 March 2024

73,074

Balance at 28 February 2025

73,074

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.25

29.2.24

value:

£

£

2

Ordinary

£1

2

2

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2025 and 29 February 2024:

28.2.25

29.2.24

£

£

Mr M J Breen

Balance outstanding at start of year

-

-

Amounts advanced

25,983

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

25,983

-

As at the balance sheet date, included in debtors due within one year is £25,983 (2024: £Nil), due and payable by the director. This amount was repaid within 9 months of the year end.

13.	RELATED PARTY DISCLOSURES

At the balance sheet date, the company was owed an amount of £Nil (2024: £21,766) by Mayfair Castle Limited, a company in which the director, Mr M J Breen, has common control.