0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 07730364 2022-01-01 2022-12-31 07730364 2022-12-31 07730364 2021-12-31 07730364 2021-01-01 2021-12-31 07730364 2021-12-31 07730364 2020-12-31 07730364 core:FurnitureFittings 2022-01-01 2022-12-31 07730364 bus:Director1 2022-01-01 2022-12-31 07730364 core:LandBuildings 2021-12-31 07730364 core:FurnitureFittings 2021-12-31 07730364 core:LandBuildings 2022-12-31 07730364 core:FurnitureFittings 2022-12-31 07730364 core:WithinOneYear 2022-12-31 07730364 core:WithinOneYear 2021-12-31 07730364 core:AfterOneYear 2022-12-31 07730364 core:AfterOneYear 2021-12-31 07730364 core:LandBuildings 2022-01-01 2022-12-31 07730364 core:ShareCapital 2022-12-31 07730364 core:ShareCapital 2021-12-31 07730364 core:RevaluationReserve 2022-12-31 07730364 core:RevaluationReserve 2021-12-31 07730364 core:RetainedEarningsAccumulatedLosses 2022-12-31 07730364 core:RetainedEarningsAccumulatedLosses 2021-12-31 07730364 core:LandBuildings 2021-12-31 07730364 core:FurnitureFittings 2021-12-31 07730364 bus:SmallEntities 2022-01-01 2022-12-31 07730364 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 07730364 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 07730364 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 07730364 bus:FullAccounts 2022-01-01 2022-12-31 07730364 core:ComputerEquipment 2022-01-01 2022-12-31 07730364 core:ComputerEquipment 2021-12-31 07730364 core:ComputerEquipment 2022-12-31
COMPANY REGISTRATION NUMBER: 07730364
MACCA DEVELOPMENTS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2022
MACCA DEVELOPMENTS LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2022
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
MACCA DEVELOPMENTS LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2022
2022
2021
Note
£
£
Fixed assets
Tangible assets
4
765,081
915,108
Current assets
Cash at bank and in hand
69,692
13,655
Creditors: amounts falling due within one year
5
232,192
312,778
-----------
-----------
Net current liabilities
162,500
299,123
-----------
-----------
Total assets less current liabilities
602,581
615,985
Creditors: amounts falling due after more than one year
6
235,928
348,600
Provisions
Taxation including deferred tax
52,100
23,750
-----------
-----------
Net assets
314,553
243,635
-----------
-----------
MACCA DEVELOPMENTS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2022
2022
2021
Note
£
£
Capital and reserves
Called up share capital
100
100
Revaluation reserve
159,037
156,573
Profit and loss account
155,416
86,962
-----------
-----------
Shareholders funds
314,553
243,635
-----------
-----------
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 15 March 2024 , and are signed on behalf of the board by:
A McKenna
Director
Company registration number: 07730364
MACCA DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Yew Lodge, 40 Church Road, Hale, Lancashire, L24 4BA, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is rental income due for the year on properties held for letting.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% reducing balance
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
4. Tangible assets
Land and buildings
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost or valuation
At 1 January 2022
915,000
2,386
501
917,887
Disposals
( 200,000)
( 200,000)
Revaluations
50,000
50,000
-----------
--------
-----
-----------
At 31 December 2022
765,000
2,386
501
767,887
-----------
--------
-----
-----------
Depreciation
At 1 January 2022
2,306
473
2,779
Charge for the year
20
7
27
-----------
--------
-----
-----------
At 31 December 2022
2,326
480
2,806
-----------
--------
-----
-----------
Carrying amount
At 31 December 2022
765,000
60
21
765,081
-----------
--------
-----
-----------
At 31 December 2021
915,000
80
28
915,108
-----------
--------
-----
-----------
Land and buildings are investment properties and have been valued during the year at fair value by the director on the basis of market values and expected yields.
5. Creditors: amounts falling due within one year
2022
2021
£
£
Corporation tax
15,119
4,545
Other creditors
217,073
308,233
-----------
-----------
232,192
312,778
-----------
-----------
Creditors include loans totalling £45,680 (2021-£52,280) which are secured against fixed assets.
6. Creditors: amounts falling due after more than one year
2022
2021
£
£
Other creditors
235,928
348,600
-----------
-----------
Creditors include loans totalling £235,928 (2021-£348,600) which are secured against fixed assets.