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Registered Number: 12752527
England & Northern Ireland

 

 

 

MCNAUGHTON SMITH HOLDINGS LTD


Abridged Accounts
 


Period of accounts

Start date: 01 August 2022

End date: 31 July 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 833,291    796,958 
833,291    796,958 
Current assets      
Debtors 2,023    1,371 
Cash at bank and in hand 24,230    24,996 
26,253    26,367 
Creditors: amount falling due within one year (62,699)   (115,039)
Net current liabilities (36,446)   (88,672)
 
Total assets less current liabilities 796,845    708,286 
Creditors: amount falling due after more than one year (509,298)   (537,313)
Provisions for liabilities (6,795)  
Net assets 280,752    170,973 
 

Capital and reserves
     
Called up share capital 5 2    2 
Profit and loss account 280,750    170,971 
Shareholder's funds 280,752    170,973 
 


For the year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 05 January 2024 and were signed on its behalf by:


-------------------------------
R Smith
Director
1
General Information
McNaughton Smith Holdings Ltd is a private company, limited by shares, registered in England & Northern Ireland, registration number 12752527, registration address Platf9rm Floor 5, Tower Point, 44 North Road, Brighton, BN1 1YR.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
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.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, 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:
Plant and Machinery 25% Straight Line
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Investment properties   Total
  £   £   £   £
At 01 August 2022 796,735    249    201,977    998,961 
Additions   734    594,758    595,492 
Disposals      
Revaluations 35,765        35,765 
At 31 July 2023 832,500    983    796,735    1,630,218 
Depreciation
At 01 August 2022   26      26 
Charge for year   166      166 
On disposals      
At 31 July 2023   192      192 
Net book values
Closing balance as at 31 July 2023 832,500    791      833,291 
Opening balance as at 01 August 2022   223    796,735    796,958 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 August 2022  
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 31 July 2023  

5.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
1 Class A share of £1.00 each  
1 Class B share of £1.00 each  
 

2