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MORNINGSIDE REAL ESTATE 42KS LTD

Registered Number
12066282
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

MORNINGSIDE REAL ESTATE 42KS LTD
Company Information
for the year from 1 October 2023 to 30 September 2024

Directors | LOVETT, Johnny
| MACDONALD, Scott

Registered Address | Lynton House
| 7-12 Tavistock Square
| London
| WC1H 9BQ

Registered Number | 12066282 (England and Wales)

MORNINGSIDE REAL ESTATE 42KS LTD
Balance Sheet as at
30 September 2024

| Notes | 2024 |  | 2023
--- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
Current assets |  |  |  |  |  |  |  |
Debtors | 3 | 75,142 |  |  |  | 73,127 |  |
Cash at bank and on hand |  | 1 |  |  |  | 1 |  |
|  | 75,143 |  |  |  | 73,128 |  |
Creditors amounts falling due within one year | 4 | (113,507) |  |  |  | (109,116) |  |
Net current assets (liabilities) |  |  |  | (38,364) |  |  |  | (35,988)
Total assets less current liabilities |  |  |  | (38,364) |  |  |  | (35,988)
Creditors amounts falling due after one year | 5 |  |  | (29,151) |  |  |  | (29,151)
Net assets |  |  |  | (67,515) |  |  |  | (65,139)
Capital and reserves |  |  |  |  |  |  |  |
Called up share capital |  |  |  | 100 |  |  |  | 100
Profit and loss account |  |  |  | (67,615) |  |  |  | (65,239)
Shareholders' funds |  |  |  | (67,515) |  |  |  | (65,139)

- The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
- The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
- The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
- These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
- The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 25 June 2026, and are signed on its behalf by:
MACDONALD, Scott Director Registered Company No. 12066282

MORNINGSIDE REAL ESTATE 42KS LTD
Notes to the Financial Statements
for the year ended 30 September 2024

1. | Accounting policies
--- | ---

| Statutory information
--- | ---
| Morningside Real Estate 42KS Limited is a private company limited by shares incorporated in England and Wales. The registered office is Lynton House, 7-12 Tavistock Square, London, WC1H 9BQ.

| Statement of compliance
--- | ---
| The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

| Basis of preparation
--- | ---
| The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

| Functional and presentation currency
--- | ---
| The financial statements are presented in sterling and this is the functional currency of the company.

| Judgements and key sources of estimation uncertainty
--- | ---
| In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

| Employee benefits
--- | ---
| Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

| Foreign currency translation
--- | ---
| Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

| Cash and cash equivalents
--- | ---
| Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

| Trade and other creditors
--- | ---
| Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

| Financial instruments
--- | ---
| A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.

2. | Average number of employees
--- | ---

|  | 2024 |  | 2023
| Average number of employees during the year | 0 |  | 0

3. | Debtors: amounts due within one year
--- | ---

|  | 2024 |  | 2023
--- | --- | --- | --- | ---
|  | £ |  | £
| Amounts owed by group undertakings | 69,328 |  | 73,127
| Other debtors | 5,814 |  | -
| Total | 75,142 |  | 73,127

4. | Creditors: amounts due within one year
--- | ---

|  | 2024 |  | 2023
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade creditors / trade payables | 1,620 |  | 1,620
| Bank borrowings and overdrafts | 10,000 |  | 10,000
| Amounts owed to related parties | 95,501 |  | 93,486
| Other creditors | 4,010 |  | 4,010
| Accrued liabilities and deferred income | 2,376 |  | -
| Total | 113,507 |  | 109,116

5. | Creditors: amounts due after one year
--- | ---

|  | 2024 |  | 2023
--- | --- | --- | --- | ---
|  | £ |  | £
| Bank borrowings and overdrafts | 29,151 |  | 29,151
| Total | 29,151 |  | 29,151