Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-2822022-02-15Buying and selling of own real estatefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsetrue 13918011 2022-02-14 13918011 2022-02-15 2023-02-28 13918011 2021-02-15 2022-02-14 13918011 2023-02-28 13918011 c:Director1 2022-02-15 2023-02-28 13918011 d:PlantMachinery 2022-02-15 2023-02-28 13918011 d:PlantMachinery 2023-02-28 13918011 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-02-15 2023-02-28 13918011 d:FurnitureFittings 2022-02-15 2023-02-28 13918011 d:FurnitureFittings 2023-02-28 13918011 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-02-15 2023-02-28 13918011 d:OwnedOrFreeholdAssets 2022-02-15 2023-02-28 13918011 d:LeaseholdInvestmentProperty 2022-02-15 2023-02-28 13918011 d:LeaseholdInvestmentProperty 2023-02-28 13918011 d:CurrentFinancialInstruments 2023-02-28 13918011 d:Non-currentFinancialInstruments 2023-02-28 13918011 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 13918011 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 13918011 d:ShareCapital 2023-02-28 13918011 d:RetainedEarningsAccumulatedLosses 2023-02-28 13918011 c:OrdinaryShareClass1 2022-02-15 2023-02-28 13918011 c:OrdinaryShareClass1 2023-02-28 13918011 c:FRS102 2022-02-15 2023-02-28 13918011 c:AuditExempt-NoAccountantsReport 2022-02-15 2023-02-28 13918011 c:FullAccounts 2022-02-15 2023-02-28 13918011 c:PrivateLimitedCompanyLtd 2022-02-15 2023-02-28 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 13918011














MCCARTHY DEVELOPMENTS LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

 
MCCARTHY DEVELOPMENTS LTD
 

CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Accounts
3 - 6


 
MCCARTHY DEVELOPMENTS LTD
REGISTERED NUMBER:13918011

STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2023

2023
Note
£

Fixed assets
  

Tangible assets
 4 
4,499

Investment property
  
272,648

  
277,147

Current assets
  

Debtors: amounts falling due within one year
  
229

Cash at bank and in hand
  
2,911

  
3,140

Creditors: amounts falling due within one year
 7 
(97,536)

Net current (liabilities)/assets
  
 
 
(94,396)

Total assets less current liabilities
  
182,751

Creditors: amounts falling due after more than one year
 8 
(186,068)

  

Net (liabilities)/assets
  
(3,317)


Capital and reserves
  

Called up share capital 
 9 
2

Profit and loss account
  
(3,319)

  
(3,317)


Page 1

 
MCCARTHY DEVELOPMENTS LTD
REGISTERED NUMBER:13918011
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 FEBRUARY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S W Mccarthy
Director

Date: 13 November 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
MCCARTHY DEVELOPMENTS LTD
 
 
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

The company's legal form is that of a limited liability company incorporated in England and Wales. 
The Company's registered office address is at 110 London Road, Wheatley, Oxford, Oxfordshire, United Kingdom, OX33 1YH
The principal activity of the company continued to be that of renting, buying and selling of own real estate 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises amounts chargeable in respect of the rent from investment property during the year.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided on the following basis:

Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance


The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

 
2.4

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
MCCARTHY DEVELOPMENTS LTD
 
 
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The average monthly number of employees, including directors, during the period was 2.


4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


Additions
1,018
4,981
5,999



At 28 February 2023

1,018
4,981
5,999



Depreciation


Charge for the period on owned assets
255
1,245
1,500



At 28 February 2023

255
1,245
1,500



Net book value



At 28 February 2023
763
3,736
4,499

Page 4

 
MCCARTHY DEVELOPMENTS LTD
 
 
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Investment property


Long term leasehold investment property

£



Valuation


Additions at cost
272,648



At 28 February 2023
272,648

The 2023 valuations were made by the director, on an open market value for existing use basis.





6.


Debtors

2023
£


Other debtors
229

229



7.


Creditors: Amounts falling due within one year

2023
£

Loans
5,096

Other creditors
91,000

Accruals and deferred income
1,440

97,536



8.


Creditors: Amounts falling due after more than one year

2023
£

Loans
186,068


The mortgage is secured by a charge over the leasehold property.

Page 5

 
MCCARTHY DEVELOPMENTS LTD
 
 
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

9.


Share capital

2023
£
Allotted, called up and fully paid


2 Ordinary shares shares of £1.00 each
2


2 Ordinary shares was issued on incorporation to provide the initial share capital.

 
Page 6