Company Registration No. 13485434 (England and Wales)
MCHOPE PROPERTIES LTD
Unaudited accounts
for the year ended 30 June 2023
MCHOPE PROPERTIES LTD
Unaudited accounts
Contents
MCHOPE PROPERTIES LTD
Company Information
for the year ended 30 June 2023
Director
Ellyshalomi Jirhe OVWAH
Company Number
13485434 (England and Wales)
Registered Office
7 WAYLEN GARDEN
DARTFORD
DA1 5GJ
ENGLAND
Accountants
Ease Accounting Associates UK Limited
Chartered Accountants
22, BRENT WAY
DARTFORD
Kent
DA2 6DA
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of MCHOPE PROPERTIES LTD for the year ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
MCHOPE PROPERTIES LTD for the year ended
30 June 2023 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of MCHOPE PROPERTIES LTD, as a body, in accordance with the terms of our engagement letter dated 16 March 2023. Our work has been undertaken solely to prepare for your approval the accounts of MCHOPE PROPERTIES LTD and state those matters that we have agreed to state to the Board of Directors of MCHOPE PROPERTIES LTD, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MCHOPE PROPERTIES LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that MCHOPE PROPERTIES LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of MCHOPE PROPERTIES LTD. You consider that MCHOPE PROPERTIES LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of MCHOPE PROPERTIES LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Ease Accounting Associates UK Limited
Chartered Accountants
Chartered Accountants
22, BRENT WAY
DARTFORD
Kent
DA2 6DA
8 March 2024
MCHOPE PROPERTIES LTD
Statement of financial position
as at 30 June 2023
Tangible assets
109,000
109,000
Cash at bank and in hand
4,160
2,865
Creditors: amounts falling due within one year
(41,744)
(42,721)
Net current liabilities
(36,834)
(39,856)
Total assets less current liabilities
72,166
69,144
Creditors: amounts falling due after more than one year
(106,610)
(106,610)
Net liabilities
(34,444)
(37,466)
Called up share capital
1
1
Profit and loss account
(34,445)
(37,467)
Shareholders' funds
(34,444)
(37,466)
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 March 2024 and were signed on its behalf by
Ellyshalomi Jirhe OVWAH
Director
Company Registration No. 13485434
MCHOPE PROPERTIES LTD
Notes to the Accounts
for the year ended 30 June 2023
MCHOPE PROPERTIES LTD is a private company, limited by shares, registered in England and Wales, registration number 13485434. The registered office is 7 WAYLEN GARDEN, DARTFORD, DA1 5GJ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Statement on Accounting Policies
"The financial statements have been prepared under the historical cost convention, which serves as the fundamental basis for recording most assets. Under this convention, assets are initially recognized at their original purchase price (historical cost). However, in certain cases, we have modified this convention to account for the revaluation of property, plant, and equipment as well as intangible assets. These revaluations are based on their current costs or fair values.
The decision to revalue certain fixed assets reflects our commitment to accurately represent their value in our financial statements. By periodically assessing their worth, we aim to provide a more relevant and reliable picture of our financial position.
The accounts are presented in £ sterling.
Functional Currency:
The financial statements of our company are presented in £ sterling (GBP), which is the functional currency.
All amounts are expressed in GBP unless otherwise stated.
Basis of Conversion:
Transactions denominated in foreign currencies are initially recorded in the functional currency at the exchange rate prevailing on the transaction date.
Monetary assets and liabilities denominated in foreign currencies are translated into GBP at the exchange rate on the balance sheet date.
Non-monetary items carried at historical cost (e.g., property, plant, and equipment) are translated using the exchange rate at the transaction date.
Non-monetary items measured at fair value (e.g., investment properties) are translated using the exchange rate at the valuation date.
MCHOPE PROPERTIES LTD
Notes to the Accounts
for the year ended 30 June 2023
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods hastransferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
The company has taken advantage of the provisions of FRS 15 to freeze the value of freehold property. No depreciation
has been provided on freehold property as the directors consider depreciation to be immaterial because of the very
long usefule economic life of the building.
Land & buildings
Freehold Property No Depreciation
4
Tangible fixed assets
Land & buildings
Amounts falling due within one year
MCHOPE PROPERTIES LTD
Notes to the Accounts
for the year ended 30 June 2023
6
Creditors: amounts falling due within one year
2023
2022
Loans from directors
40,519
40,515
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
106,610
106,610
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).