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REGISTERED NUMBER: 12044336 (England and Wales)















Financial Statements for the Year Ended 30 June 2023

for

McComb (Bolton) Limited

McComb (Bolton) Limited (Registered number: 12044336)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


McComb (Bolton) Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: M W McComb
P M McComb





REGISTERED OFFICE: 9 Moorgate
Ormskirk
L39 4RT





REGISTERED NUMBER: 12044336 (England and Wales)





AUDITORS: Haines Watts
Statutory Auditor
3rd Floor Pacific Chambers
11-13 Victoria Street
Liverpool
Merseyside
L2 5QQ

McComb (Bolton) Limited (Registered number: 12044336)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 256,006 210,418
Investment property 5 25,000,000 15,363,100
25,256,006 15,573,518

CURRENT ASSETS
Debtors 6 348,667 355,994
Cash at bank and in hand 1,788,818 1,436,463
2,137,485 1,792,457
CREDITORS
Amounts falling due within one year 7 466,888 394,995
NET CURRENT ASSETS 1,670,597 1,397,462
TOTAL ASSETS LESS CURRENT
LIABILITIES

26,926,603

16,970,980

CREDITORS
Amounts falling due after more than one
year

8

(5,933,825

)

(6,000,000

)

PROVISIONS FOR LIABILITIES (2,411,659 ) (1,696,204 )
NET ASSETS 18,581,119 9,274,776

CAPITAL AND RESERVES
Called up share capital 100 100
Non distributable reserve 15,905,277 7,230,102
Retained earnings 2,675,742 2,044,574
18,581,119 9,274,776

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2023 and were signed on its behalf by:





M W McComb - Director


McComb (Bolton) Limited (Registered number: 12044336)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

McComb (Bolton) Limited 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Improvements to property - 10% on cost
Computer equipment - 33% on cost
Motor vehicles- 20% reducing balance

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 Statement of Income and Retained Earnings, 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 balance sheet date.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

McComb (Bolton) Limited (Registered number: 12044336)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Improvements Plant and Motor
to property machinery vehicles Totals
£ £ £ £
COST
At 1 July 2022 280,257 8,969 - 289,226
Additions 15,326 18,427 44,914 78,667
At 30 June 2023 295,583 27,396 44,914 367,893
DEPRECIATION
At 1 July 2022 71,743 7,065 - 78,808
Charge for year 28,124 4,206 749 33,079
At 30 June 2023 99,867 11,271 749 111,887
NET BOOK VALUE
At 30 June 2023 195,716 16,125 44,165 256,006
At 30 June 2022 208,514 1,904 - 210,418

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 July 2022 15,363,100
Additions 246,270
Revaluations 9,390,630
At 30 June 2023 25,000,000
NET BOOK VALUE
At 30 June 2023 25,000,000
At 30 June 2022 15,363,100

Fair value at 30 June 2023 is represented by:
£
Valuation in 2022 8,926,052
Valuation in 2023 9,390,630
Cost 6,683,318
25,000,000

McComb (Bolton) Limited (Registered number: 12044336)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. INVESTMENT PROPERTY - continued

During the year ended 30 June 2023 investment property was professionally valued in accordance with the RICS Valuation - Global Standards effective from 31 January 2022 on an open market fair value basis by Avison Young (MRICS). The directors consider this to be fair value at 30 June 2023.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£ £
Trade debtors 6,017 4,374
Other debtors 342,650 351,620
348,667 355,994

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£ £
Trade creditors 18,629 12,516
Taxation and social security 134,367 140,055
Other creditors 313,892 242,424
466,888 394,995

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£ £
Bank loans 5,933,825 6,000,000

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£ £
Bank loans 5,933,825 6,000,000

The bank loans are secured by way of fixed and floating charges issued on the 29 October 2021.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Francis Murphy (Senior Statutory Auditor)
for and on behalf of Haines Watts

11. RELATED PARTY DISCLOSURES

At 30 June 2023, other debtors included an amount of £NIL (2022: £23,911) due from Mr M W McComb, a director and shareholder of the company, which will be repaid within 9 months of the year end.

At 30 June 2023, other debtors also included an amount of £118,789 (2022: £96,586) due from McComb Property Company Limited, a company under common control.