Company registration number 11853486 (England and Wales)
MCS HOUSING MANAGEMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
MCS HOUSING MANAGEMENT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
MCS HOUSING MANAGEMENT LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2023
28 February 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
574,092
235,452
Current assets
Debtors
4
34,312
40,076
Cash at bank and in hand
27,756
2,616
62,068
42,692
Creditors: amounts falling due within one year
5
(146,434)
(30,082)
Net current (liabilities)/assets
(84,366)
12,610
Total assets less current liabilities
489,726
248,062
Creditors: amounts falling due after more than one year
6
(426,902)
(207,995)
Net assets
62,824
40,067
Capital and reserves
Called up share capital
7
100
2
Profit and loss reserves
62,724
40,065
Total equity
62,824
40,067

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 8 February 2024 and are signed on its behalf by:
Mr M A Corcoran-Sultan
Director
Company registration number 11853486 (England and Wales)
MCS HOUSING MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 2 -
1
Accounting policies
Company information

MCS Housing Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is 9 Grove Farm Drive, Sutton Coldfield, B75 5QY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Tangible fixed assets
Freehold land and buildings
Freehold property is not depreciated
Computers
33% on cost
Motor vehicles
20% reducing balance
1.3
Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax

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.

1.4
Government grants

Government grants have been recognised under the accruals model. Grants relating to revenue expenditure are recognised in income on a systematic basis over the periods to which the entity recognises the related costs for which the grant is intended to compensate.

MCS HOUSING MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 March 2022
233,429
2,634
236,063
Additions
339,171
-
0
339,171
At 28 February 2023
572,600
2,634
575,234
Depreciation and impairment
At 1 March 2022
-
0
611
611
Depreciation charged in the year
-
0
531
531
At 28 February 2023
-
0
1,142
1,142
Carrying amount
At 28 February 2023
572,600
1,492
574,092
At 28 February 2022
233,429
2,023
235,452
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
34,312
40,076
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
11,826
5,610
Taxation and social security
11,847
8,725
Other creditors
122,761
15,747
146,434
30,082
MCS HOUSING MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 4 -
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
426,902
207,995
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
2
100
2

During the year 98 Ordinary shares were issued for cash at par.

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