2022-07-01 12659245 2023-06-30 12659245 2022-07-01 2023-06-30 12659245 2022-06-30 12659245 2021-07-01 2022-06-30 12659245 uk-core:WithinOneYear 2022-06-30 12659245 uk-core:WithinOneYear 2023-06-30 12659245 uk-core:ShareCapital 2023-06-30 12659245 uk-core:ShareCapital 2022-06-30 12659245 uk-core:RetainedEarningsAccumulatedLosses 2023-06-30 12659245 uk-core:RetainedEarningsAccumulatedLosses 2022-06-30 12659245 uk-bus:Director1 2022-07-01 2023-06-30 12659245 uk-core:FurnitureFittings 2022-07-01 2023-06-30 12659245 uk-core:FurnitureFittings 2022-06-30 12659245 uk-core:Buildings 2022-06-30 12659245 uk-core:Buildings 2022-07-01 2023-06-30 12659245 uk-core:Buildings 2023-06-30 12659245 uk-core:FurnitureFittings 2023-06-30 iso4217:GBP xbrli:pure 12659245 uk-bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 12659245 uk-bus:FRS102 2022-07-01 2023-06-30 12659245 uk-bus:FullAccounts 2022-07-01 2023-06-30 12659245 uk-bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30
MCH Diamond Property Ltd
Registered Number:12659245
For the year ended 30 June 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 30 June 2023
MCH Diamond Property Ltd
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
12659245
As at 30 June 2023
MCH Diamond Property Ltd
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
3,539,372
1,002,445
2
3,539,372
1,002,445
Current assets
Inventories
2,000,000
-
3
Trade and other receivables
96,600
105,232
4
929,533
Cash and cash equivalents
163,598
268,830
3,026,133
Trade and other payables: amounts falling due within one
year
(3,964,980)
(3,766,225)
5
(938,847)
(3,497,395)
Net current liabilities
Total assets less current liabilities
41,977
63,598
41,977
Net assets
63,598
Capital and reserves
Called up share capital
100
100
Retained earnings
41,877
63,498
41,977
63,598
Shareholders' funds
For the year ended 30 June 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr M Hudson Director
These financial statements were approved and authorised for issue by the Board on 18 October 2023 and were signed by:
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4
Registered Number :
12659245
For the year ended 30 June 2023
MCH Diamond Property Ltd
Statement of Financial Position Continued
The notes form part of these financial statements
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5
For the year ended 30 June 2023
MCH Diamond Property Ltd
Notes to the Financial Statements
Statutory Information
MCH Diamond Property Ltd is a private limited company, limited by shares, domiciled in England and Wales,
registration number 12659245.
Registered address:
Omega Court
368 Cemetery Road
Sheffield
S11 8FT
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and
the Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. Turnover is recognised on the completion of each large contract assignment or small job, in accordance with the contract terms.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
15% Reducing balance
Furniture and Fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Income on work in progress contracts is recognised by reference to the valuation of time spent on each contract, at the year end. Profit on work in progress contracts is recognised when the outcome of the contracts can be assessed with reasonable certainty, and is that amount which is estimated to fairly reflect the profit arising up to the year end. Profit on work in progress contracts is reflected in the profit and loss account as the difference between the reported turnover, and the related costs.
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6
For the year ended 30 June 2023
MCH Diamond Property Ltd
Notes to the Financial Statements Continued
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 the 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 timing differences. 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 future profits.
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of
a past event, and that it is probable that an outflow of economic benefits will be required to settle the
obligation and a reliable estimate can be made. Provisions are measured at the present value of expenditure
expected to be required to settle the obligation, taking the risks and uncertainties surrounding the obligation.
2. Property, plant and equipment
Total
Furniture and
Fittings
Land and
Buildings
£
£
£
Cost or
valuation
At 01 July 2022
1,002,877
2,877
1,000,000
2,539,464
14,464
2,525,000
Additions
At 30 June 2023
3,525,000
17,341
3,542,341
Provision for depreciation and impairment
At 01 July 2022
432
432
-
Charge for year
2,537
2,537
-
At 30 June 2023
2,969
2,969
-
At 30 June 2023
Net book value
3,525,000
14,372
3,539,372
At 30 June 2022
1,000,000
2,445
1,002,445
3. Inventories
2022
2023
£
£
Stocks
-
2,000,000
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7
For the year ended 30 June 2023
MCH Diamond Property Ltd
Notes to the Financial Statements Continued
4. Trade and other receivables
2022
2023
£
£
Other debtors
105,232
96,600
5. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Trade creditors
(1)
-
Amounts owed to group undertaking and undertaking in which the
company has a participating interest
3,757,900
3,949,900
Taxation and social security
-
8,765
Other creditors
8,326
6,315
3,766,225
3,964,980
6. Related party transactions
The Company is a wholly owned subsidiary of Morgz Ltd, Co. No. 10447134, whose registered office address
is Omega Court, 368 Cemetery Road, Sheffield S11 8FT.
7. Average number of persons employed
During the year the average number of employees was 2 (2022 : 2)
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