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REGISTERED NUMBER: 10528783 (England and Wales)

















MACCON PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






MACCON PROPERTIES LIMITED (REGISTERED NUMBER: 10528783)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


MACCON PROPERTIES LIMITED (REGISTERED NUMBER: 10528783)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 535,000 535,000

CURRENT ASSETS
Debtors 5 300 384
Cash at bank 23,544 20,523
23,844 20,907
CREDITORS
Amounts falling due within one year 6 29,846 25,153
NET CURRENT LIABILITIES (6,002 ) (4,246 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

528,998

530,754

CREDITORS
Amounts falling due after more than one
year

7

(380,938

)

(402,938

)

PROVISIONS FOR LIABILITIES (18,432 ) (18,432 )
NET ASSETS 129,628 109,384

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 82,692 82,692
Retained earnings 46,836 26,592
129,628 109,384

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

MACCON PROPERTIES LIMITED (REGISTERED NUMBER: 10528783)

BALANCE SHEET - continued
31 DECEMBER 2023


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by:




Mrs L Dockerill - Director



Mr A Dockerill - Director


MACCON PROPERTIES LIMITED (REGISTERED NUMBER: 10528783)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Maccon Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10528783

Registered office: 71 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


MACCON PROPERTIES LIMITED (REGISTERED NUMBER: 10528783)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 535,000
NET BOOK VALUE
At 31 December 2023 535,000
At 31 December 2022 535,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2018 101,124
Cost 433,876
535,000

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

2023 2022
£    £   
Cost 433,876 433,876

Investment property was valued on an open market basis on 31 December 2023 by the directors. .

MACCON PROPERTIES LIMITED (REGISTERED NUMBER: 10528783)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 300 384

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 4,753 1,339
Other creditors 25,093 23,814
29,846 25,153

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 154,991 154,991
Other creditors 225,947 247,947
380,938 402,938

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 154,991 154,991

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 154,991 154,991

The bank loans are secured by way of a fixed charge over the investment property of the company.

9. RESERVES
Fair
value
reserve
£   
At 1 January 2023
and 31 December 2023 82,692

MACCON PROPERTIES LIMITED (REGISTERED NUMBER: 10528783)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

10. RELATED PARTY DISCLOSURES

RG Beattie (Beds) Limited
A company in which Mr A Dockerill and Mrs L Dockerill are directors and shareholders.

At the balance sheet date, the related party was owed £228,347 (2022 - £250,347).

A Dockerill and L Dockerill
Company directors.

At the balance sheet date, the directors were owed £6,330 (2022 - £5,064).