BNK Properties (UK) Ltd - Accounts to registrar (filleted) - small 18.2

BNK Properties (UK) Ltd - Accounts to registrar (filleted) - small 18.2

BNK PROPERTIES (UK) LTD - Company Information

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REGISTERED NUMBER: 08801964 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

BNK PROPERTIES (UK) LTD
BNK PROPERTIES (UK) LTD (REGISTERED NUMBER: 08801964)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


BNK PROPERTIES (UK) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2020







DIRECTOR: N Kuflik





SECRETARY: Mrs K Kuflik





REGISTERED OFFICE: 26 Glaserton Road
London
N16 5QX





REGISTERED NUMBER: 08801964 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL
Page 1
BNK PROPERTIES (UK) LTD (REGISTERED NUMBER: 08801964)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2020

31.12.20 31.12.19
Notes £    £   
FIXED ASSETS
Investment property 4 600,000 550,000

CURRENT ASSETS
Debtors 5 59,399 59,399
Cash at bank 2,584 1,228
61,983 60,627
CREDITORS
Amounts falling due within one year 6 (504,127 ) (504,207 )
NET CURRENT LIABILITIES (442,144 ) (443,580 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
157,856
106,420

PROVISIONS FOR LIABILITIES (9,500 ) -
NET ASSETS 148,356 106,420

CAPITAL AND RESERVES
Called up share capital 8 1 1
Revaluation reserve 9 208,016 167,516
Retained earnings 9 (59,661 ) (61,097 )
SHAREHOLDERS' FUNDS 148,356 106,420

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 notes form part of these financial statements

Page 2 continued...
BNK PROPERTIES (UK) LTD (REGISTERED NUMBER: 08801964)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2020


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 23 September 2021 and were signed by:





N Kuflik - Director


The notes form part of these financial statements

Page 3
BNK PROPERTIES (UK) LTD (REGISTERED NUMBER: 08801964)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

1. STATUTORY INFORMATION

BNK Properties (UK) 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 represents net rent receivable, excluding value added tax.

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

Page 4 continued...
BNK PROPERTIES (UK) LTD (REGISTERED NUMBER: 08801964)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2020

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2020 550,000
Revaluations 50,000
At 31 December 2020 600,000
NET BOOK VALUE
At 31 December 2020 600,000
At 31 December 2019 550,000

Fair value at 31 December 2020 is represented by:
£   
Valuation in 2015 167,516
Valuation in 2020 50,000
Cost 382,484
600,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20 31.12.19
£    £   
Other debtors 59,399 59,399

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20 31.12.19
£    £   
Bank loans and overdrafts 486,126 486,074
Taxation and social security 2,300 2,860
Other creditors 15,701 15,273
504,127 504,207

7. SECURED DEBTS

The following secured debts are included within creditors:

31.12.20 31.12.19
£    £   
Bank loans 486,126 486,074

Long term bank loan is secured by first charge over the company's investment property and bear interest at variable rates.

Page 5 continued...
BNK PROPERTIES (UK) LTD (REGISTERED NUMBER: 08801964)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2020

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.12.20 31.12.19
value: £    £   
1 Ordinary £1 1 1

9. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 January 2020 (61,097 ) 167,516 106,419
Profit for the year 41,936 41,936
Revaluation (40,500 ) 40,500 -
At 31 December 2020 (59,661 ) 208,016 148,355

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is N Kuflik.

Page 6