MALK Property Investments Limited

MALK PROPERTY INVESTMENTS LIMITED - Company Information

2022-04-012023-03-312023-03-31false11241262MALK Property Investments Limited2023-10-18iso4217:GBPxbrli:pure112412622022-04-01112412622023-03-31112412622022-04-012023-03-31112412622021-04-01112412622022-03-31112412622021-04-012022-03-3111241262bus:SmallEntities2022-04-012023-03-3111241262bus:AuditExempt-NoAccountantsReport2022-04-012023-03-3111241262bus:FullAccounts2022-04-012023-03-3111241262bus:PrivateLimitedCompanyLtd2022-04-012023-03-3111241262core:WithinOneYear2023-03-3111241262core:AfterOneYear2023-03-3111241262core:WithinOneYear2022-03-3111241262core:AfterOneYear2022-03-3111241262core:ShareCapital2023-03-3111241262core:SharePremium2023-03-3111241262core:RevaluationReserve2023-03-3111241262core:OtherReservesSubtotal2023-03-3111241262core:RetainedEarningsAccumulatedLosses2023-03-3111241262core:ShareCapital2022-03-3111241262core:SharePremium2022-03-3111241262core:RevaluationReserve2022-03-3111241262core:OtherReservesSubtotal2022-03-3111241262core:RetainedEarningsAccumulatedLosses2022-03-3111241262core:LandBuildings2023-03-3111241262core:PlantMachinery2023-03-3111241262core:Vehicles2023-03-3111241262core:FurnitureFittings2023-03-3111241262core:OfficeEquipment2023-03-3111241262core:NetGoodwill2023-03-3111241262core:IntangibleAssetsOtherThanGoodwill2023-03-3111241262core:ListedExchangeTraded2023-03-3111241262core:UnlistedNon-exchangeTraded2023-03-3111241262core:LandBuildings2022-03-3111241262core:PlantMachinery2022-03-3111241262core:Vehicles2022-03-3111241262core:FurnitureFittings2022-03-3111241262core:OfficeEquipment2022-03-3111241262core:NetGoodwill2022-03-3111241262core:IntangibleAssetsOtherThanGoodwill2022-03-3111241262core:ListedExchangeTraded2022-03-3111241262core:UnlistedNon-exchangeTraded2022-03-3111241262core:LandBuildings2022-04-012023-03-3111241262core:PlantMachinery2022-04-012023-03-3111241262core:Vehicles2022-04-012023-03-3111241262core:FurnitureFittings2022-04-012023-03-3111241262core:OfficeEquipment2022-04-012023-03-3111241262core:NetGoodwill2022-04-012023-03-3111241262core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3111241262core:ListedExchangeTraded2022-04-012023-03-3111241262core:UnlistedNon-exchangeTraded2022-04-012023-03-3111241262core:MoreThanFiveYears2022-04-012023-03-3111241262core:Non-currentFinancialInstruments2023-03-3111241262core:Non-currentFinancialInstruments2022-03-3111241262dpl:CostSales2022-04-012023-03-3111241262dpl:DistributionCosts2022-04-012023-03-3111241262dpl:AdministrativeExpenses2022-04-012023-03-3111241262core:LandBuildings2022-04-012023-03-3111241262core:PlantMachinery2022-04-012023-03-3111241262core:Vehicles2022-04-012023-03-3111241262core:FurnitureFittings2022-04-012023-03-3111241262core:OfficeEquipment2022-04-012023-03-3111241262core:NetGoodwill2022-04-012023-03-3111241262core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3111241262dpl:GroupUndertakings2022-04-012023-03-3111241262dpl:ParticipatingInterests2022-04-012023-03-3111241262dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3111241262core:ListedExchangeTraded2022-04-012023-03-3111241262dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3111241262core:UnlistedNon-exchangeTraded2022-04-012023-03-3111241262dpl:CostSales2021-04-012022-03-3111241262dpl:DistributionCosts2021-04-012022-03-3111241262dpl:AdministrativeExpenses2021-04-012022-03-3111241262core:LandBuildings2021-04-012022-03-3111241262core:PlantMachinery2021-04-012022-03-3111241262core:Vehicles2021-04-012022-03-3111241262core:FurnitureFittings2021-04-012022-03-3111241262core:OfficeEquipment2021-04-012022-03-3111241262core:NetGoodwill2021-04-012022-03-3111241262core:IntangibleAssetsOtherThanGoodwill2021-04-012022-03-3111241262dpl:GroupUndertakings2021-04-012022-03-3111241262dpl:ParticipatingInterests2021-04-012022-03-3111241262dpl:GroupUndertakingscore:ListedExchangeTraded2021-04-012022-03-3111241262core:ListedExchangeTraded2021-04-012022-03-3111241262dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-04-012022-03-3111241262core:UnlistedNon-exchangeTraded2021-04-012022-03-3111241262core:NetGoodwill2023-03-3111241262core:IntangibleAssetsOtherThanGoodwill2023-03-3111241262core:LandBuildings2023-03-3111241262core:PlantMachinery2023-03-3111241262core:Vehicles2023-03-3111241262core:FurnitureFittings2023-03-3111241262core:OfficeEquipment2023-03-3111241262core:AfterOneYear2023-03-3111241262core:WithinOneYear2023-03-3111241262core:ListedExchangeTraded2023-03-3111241262core:UnlistedNon-exchangeTraded2023-03-3111241262core:ShareCapital2023-03-3111241262core:SharePremium2023-03-3111241262core:RevaluationReserve2023-03-3111241262core:OtherReservesSubtotal2023-03-3111241262core:RetainedEarningsAccumulatedLosses2023-03-3111241262core:NetGoodwill2022-03-3111241262core:IntangibleAssetsOtherThanGoodwill2022-03-3111241262core:LandBuildings2022-03-3111241262core:PlantMachinery2022-03-3111241262core:Vehicles2022-03-3111241262core:FurnitureFittings2022-03-3111241262core:OfficeEquipment2022-03-3111241262core:AfterOneYear2022-03-3111241262core:WithinOneYear2022-03-3111241262core:ListedExch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Registered Number
11241262
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

MALK Property Investments Limited

Company Information
for the year from 1 April 2022 to 31 March 2023


Directors	Mr K Kleinman
	Mr A Levack


Registered Address	10 Western Road
	Romford
	RM1 3JT


Registered Number	11241262 (England and Wales)

MALK Property Investments Limited

Balance Sheet as at
31 March 2023

	Notes	2023		2022
		£	£	£	£
Fixed assets
Investment property	7		533,493		533,493
			533,493		533,493
Current assets
Debtors	9	1,583		6,353
Cash at bank and on hand		65,035		64,129
		66,618		70,482
Creditors amounts falling due within one year	10	(342,260)		(342,384)
Net current assets (liabilities)			(275,642)		(271,902)
Total assets less current liabilities			257,851		261,591
Creditors amounts falling due after one year	11		(271,950)		(271,950)
Net assets			(14,099)		(10,359)
Capital and reserves
Called up share capital			100		100
Profit and loss account			(14,199)		(10,459)
Shareholders' funds			(14,099)		(10,359)

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.

The financial statements were approved and authorised for issue by the Board of Directors on 18 October 2023, and are signed on its behalf by:

Mr A Levack
Director

Mr K Kleinman
Director

Registered Company No. 11241262

MALK Property Investments Limited

Notes to the Financial Statements
for the year ended 31 March 2023

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Compliance with applicable reporting framework
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	Principal activities
	The principal activity of the company continued to be that of property investments.

4.	Basis of measurement used in financial statements
	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).

5.	Accounting policies

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

	Turnover policy
	Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Turnover policy

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

	Investment property policy
	Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Taxation policy
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Going concern
	At the year end the company's balance sheet reported an insolvent position of £14,099 (2022 - £10,359). The company is reliant on the continued support of its directors and banking facilities in order to fund its day to day working capital requirements. The directors have given their undertakings not to withdraw this support to the detriment of the company within twelve months from the date of signature of these financial statements and accordingly consider it appropriate to prepare them on a going concern basis.

Going concern

At the year end the company's balance sheet reported an insolvent position of £14,099 (2022 - £10,359). The company is reliant on the continued support of its directors and banking facilities in order to fund its day to day working capital requirements. The directors have given their undertakings not to withdraw this support to the detriment of the company within twelve months from the date of signature of these financial statements and accordingly consider it appropriate to prepare them on a going concern basis.

6.	Employee information


		2023		2022
	Average number of employees during the year	0		0

7.	Investment property
	The fair value of the properties at 31 March 2023 has been arrived at on the basis of a valuation carried out by the directors who are not professionally qualified valuers. The valuations were made on an open market value basis by reference to market evidence of transaction prices for similar properties.


		£
	Fair value at 01 April 22	533,493
	At 31 March 23	533,493

8.	Directors advances, credits and guarantees
	Dividends totalling £0 were paid in the year in respect of shares held by the company's directors. Included within other creditors is £341,000 (2022 - £341,000) for an interest free loan owed to companies that the directors have a participating interest in.

9.	Debtors

	2023	2022
	£	£
Trade debtors / trade receivables	1,017	-
Other debtors	-	5,822
Prepayments and accrued income	566	531
Total	1,583	6,353


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

10.	Creditors within one year

	2023	2022
	£	£
Other creditors	341,000	341,184
Accrued liabilities and deferred income	1,260	1,200
Total	342,260	342,384


	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.

11.	Creditors after one year

	2023	2022
	£	£
Bank borrowings and overdrafts	271,950	271,950
Total	271,950	271,950