Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 5200689 Mr Mark Crook Mr Charles Brierley-Jones iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 5200689 2023-03-31 5200689 2024-03-31 5200689 2023-04-01 2024-03-31 5200689 frs-core:CurrentFinancialInstruments 2024-03-31 5200689 frs-core:Non-currentFinancialInstruments 2024-03-31 5200689 frs-core:InvestmentPropertyIncludedWithinPPE 2024-03-31 5200689 frs-core:InvestmentPropertyIncludedWithinPPE 2023-03-31 5200689 frs-core:MotorVehicles 2024-03-31 5200689 frs-core:MotorVehicles 2023-04-01 2024-03-31 5200689 frs-core:MotorVehicles 2023-03-31 5200689 frs-core:PlantMachinery 2024-03-31 5200689 frs-core:PlantMachinery 2023-04-01 2024-03-31 5200689 frs-core:PlantMachinery 2023-03-31 5200689 frs-core:ShareCapital 2024-03-31 5200689 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 5200689 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 5200689 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 5200689 frs-bus:SmallEntities 2023-04-01 2024-03-31 5200689 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 5200689 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 5200689 frs-core:AcceleratedTaxDepreciationDeferredTax 2024-03-31 5200689 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-03-31 5200689 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-03-31 5200689 frs-bus:Director1 2023-04-01 2024-03-31 5200689 frs-bus:Director2 2023-04-01 2024-03-31 5200689 frs-countries:EnglandWales 2023-04-01 2024-03-31 5200689 2022-03-31 5200689 2023-03-31 5200689 2022-04-01 2023-03-31 5200689 frs-core:CurrentFinancialInstruments 2023-03-31 5200689 frs-core:Non-currentFinancialInstruments 2023-03-31 5200689 frs-core:MotorVehicles 2022-04-01 2023-03-31 5200689 frs-core:ShareCapital 2023-03-31 5200689 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 5200689 frs-core:AcceleratedTaxDepreciationDeferredTax 2023-03-31 5200689 frs-core:TaxLossesCarry-forwardsDeferredTax 2023-03-31 5200689 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-03-31
Registered number: 5200689
M & C Developments Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 5200689
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 896,017 874,403
896,017 874,403
CURRENT ASSETS
Debtors 5 57,004 6,037
Cash at bank and in hand 47,285 35,018
104,289 41,055
Creditors: Amounts Falling Due Within One Year 6 (23,902 ) (11,586 )
NET CURRENT ASSETS (LIABILITIES) 80,387 29,469
TOTAL ASSETS LESS CURRENT LIABILITIES 976,404 903,872
Creditors: Amounts Falling Due After More Than One Year 7 (27,254 ) (9,676 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (41,295 ) (29,937 )
NET ASSETS 907,855 864,259
CAPITAL AND RESERVES
Called up share capital 10 2 2
Fair Value Reserve 11 272,981 272,981
Profit and Loss Account 634,872 591,276
SHAREHOLDERS' FUNDS 907,855 864,259
Page 1
Page 2
For the year ending 31 March 2024 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Mark Crook
Director
Mr Charles Brierley-Jones
Director
19/06/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
M & C Developments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 5200689 . The registered office is Rouge Farm, Normans Lane, Warrington, WA4 4PY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on cost
Motor Vehicles 20% reducing balance
2.4. Investment Properties
Investment properties shall not be subject to periodic charges for depreciation except for properties held on lease, which shall be depreciated at least over the period when the unexpired term is 20 years or less.
Investment properties shall be included in the balance sheet at their market value.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods.

The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Investment Properties Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 April 2023 800,000 19,315 104,544 923,859
Additions - 3,800 36,479 40,279
As at 31 March 2024 800,000 23,115 141,023 964,138
Depreciation
As at 1 April 2023 - 1,375 48,081 49,456
Provided during the period - 5,548 13,117 18,665
As at 31 March 2024 - 6,923 61,198 68,121
Net Book Value
As at 31 March 2024 800,000 16,192 79,825 896,017
As at 1 April 2023 800,000 17,940 56,463 874,403
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 34,655 -
Cost or valuation as at 31 March 2024 represented by:
Investment Properties Plant & Machinery Motor Vehicles Total
£ £ £ £
At cost 518,051 23,115 141,023 682,189
At valuation 281,949 - - 281,949
800,000 23,115 141,023 964,138
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 7,004 252
Other debtors 50,000 -
VAT - 5,785
57,004 6,037
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Page 5
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 863 -
Trade creditors 2,596 670
Bank loans and overdrafts 3,960 4,677
Corporation tax 1,184 -
VAT 5,260 -
Other creditors 5,589 4,089
Accruals and deferred income 2,450 2,150
Directors' loan accounts 2,000 -
23,902 11,586
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 27,254 -
Bank loans - 9,676
27,254 9,676
8. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 28,117 -
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Accelerated capital allowances 32,327 28,542
Tax losses carried forward - (7,573 )
Other timing differences 8,968 8,968
41,295 29,937
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
11. Reserves
Fair Value Reserve
£
As at 1 April 2023 272,981
As at 31 March 2024 272,981
Page 5