Registered number
00395958
Macdona Property Company Limited
Filleted Accounts
31 March 2023
Macdona Property Company Limited
Registered number: 00395958
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 377,650 377,650
Current assets
Debtors 4 - 28
Investments held as current assets 5 328,079 328,079
Cash at bank and in hand 115,102 101,871
443,181 429,978
Creditors: amounts falling due within one year 6 (50,302) (29,323)
Net current assets 392,879 400,655
Net assets 770,529 778,305
Capital and reserves
Called up share capital 8,103 8,103
Profit and loss account 762,426 770,202
Shareholders' funds 770,529 778,305
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M J Macdona
Director
Approved by the board on 19 October 2023
Macdona Property Company Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Listed investments are measured at cost
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2022 414,740 85,165 499,905
At 31 March 2023 414,740 85,165 499,905
Depreciation
At 1 April 2022 37,290 84,965 122,255
At 31 March 2023 37,290 84,965 122,255
Net book value
At 31 March 2023 377,450 200 377,650
At 31 March 2022 377,450 200 377,650
4 Debtors 2023 2022
£ £
Other debtors - 28
5 Investments held as current assets 2023 2022
£ £
Listed investments at cost 328,079 328,079
(Market value £699,661)
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 3,860 2,932
Other creditors 46,442 26,391
50,302 29,323
7 Other information
Macdona Property Company Limited is a private company limited by shares and incorporated in England. Its registered office is:
Pennyroyal
Stour Row
Shaftesbury
Dorset
SP7 0QJ
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