MKone Business Centres Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06568025 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2018

FOR

MKONE BUSINESS CENTRES LTD

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

C J Muscat

SECRETARY:

A D Muscat

REGISTERED OFFICE:

The I-Centre Main Reception

Howard Way

Newport Pagnell

Milton Keynes

MK16 9PY

REGISTERED NUMBER:

06568025 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

5

1,800,997

1,800,000

CURRENT ASSETS

Debtors

56,739

58,479

Cash at bank

4,798

2,517

61,537

60,996

CREDITORS

Amounts falling due within one year

882,570

887,700

NET CURRENT LIABILITIES

(821,033

)

(826,704

)

TOTAL ASSETS LESS CURRENT LIABILITIES

979,964

973,296

CREDITORS

Amounts falling due after more than one year

6

619,758

680,331

NET ASSETS

360,206

292,965

CAPITAL AND RESERVES

Called up share capital

9

100

100

Revaluation reserve

10

120,187

120,187

Retained earnings

10

239,919

172,678

SHAREHOLDERS' FUNDS

360,206

292,965

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Statement of Financial Position for the year ended 30 April 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 16 October 2018 and were signed by:

C J Muscat - Director

1.	STATUTORY INFORMATION

MKone Business Centres 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.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

33% on cost

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 statement of financial position date.

Deferred tax

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

statement of financial position 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2017

1,800,000

Additions

1,495

At 30 April 2018

1,801,495

DEPRECIATION

Charge for year

498

At 30 April 2018

498

NET BOOK VALUE

At 30 April 2018

1,800,997

At 30 April 2017

1,800,000

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

30.4.18

30.4.17

(Restated)

£

£

Repayable by instalments

Bank loans more 5 yr by instal

619,758

680,331

7.

LOANS

An analysis of the maturity of loans is given below:

30.4.18

30.4.17

(Restated)

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

619,758

680,331

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.18

30.4.17

(Restated)

£

£

Bank loans

619,758

680,331

Bank loan is secured by first charge over the company's investment properties.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.18

30.4.17

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 May 2017

172,678

120,187

292,865

Profit for the year

67,241

67,241

At 30 April 2018

239,919

120,187

360,106

11.	ULTIMATE CONTROLLING PARTY

The controlling party is C J Muscat.