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REGISTERED NUMBER: 11577011 (England and Wales)













Financial Statements

for the Year Ended 30 September 2023

for

M C Investments Lincoln Limited

M C Investments Lincoln Limited (Registered number: 11577011)






Contents of the Financial Statements
for the year ended 30 September 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


M C Investments Lincoln Limited

Company Information
for the year ended 30 September 2023







DIRECTORS: Mr M Cheetham
Mr P Truelove



REGISTERED OFFICE: 2 Goldcrest Close
LINCOLN
Lincolnshire
LN6 0UX



REGISTERED NUMBER: 11577011 (England and Wales)



ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN



BANKERS: Lloyds Bank Plc
70 High Street
LINCOLN
Lincolnshire
LN5 8AD

M C Investments Lincoln Limited (Registered number: 11577011)

Abridged Statement of Financial Position
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 309,643 415,000

CURRENT ASSETS
Debtors 369 386
Cash at bank 34,992 35,216
35,361 35,602
CREDITORS
Amounts falling due within one year 236,491 346,038
NET CURRENT LIABILITIES (201,130 ) (310,436 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

108,513

104,564

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 108,413 104,464
108,513 104,564

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

M C Investments Lincoln Limited (Registered number: 11577011)

Abridged Statement of Financial Position - continued
30 September 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 30 September 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 April 2024 and were signed on its behalf by:





Mr M Cheetham - Director


M C Investments Lincoln Limited (Registered number: 11577011)

Notes to the Financial Statements
for the year ended 30 September 2023

1. STATUTORY INFORMATION

M C Investments Lincoln Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting
Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of
Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.
The financial statements have been prepared under the historical cost convention as
modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.

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

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 statement of financial position date.

Rental income
The rents received relate to the fixed asset investment property. Rental income from operating leases is recognised on a straight line basis over the term of the lease.

M C Investments Lincoln Limited (Registered number: 11577011)

Notes to the Financial Statements - continued
for the year ended 30 September 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 415,000
Additions 14,643
Disposals (120,000 )
At 30 September 2023 309,643
NET BOOK VALUE
At 30 September 2023 309,643
At 30 September 2022 415,000

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2023 309,643

If the investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 256,400 341,090
Aggregate depreciation (32,383 ) (27,255 )

The investment properties have been valued by the Directors in line with the market rate which has been based upon properties of a similar nature, in the local area.

5. RELATED PARTY DISCLOSURES

Included in creditors is a balance of £224,625 (2022: £341,865) representing amounts owed to Mr M Cheetham £144,150 (2022: £264,150) and Mr P Truelove £80,475 (2022: £77,715), directors of the company. These loans are interest free and not secured.