Company registration number SC553087 (Scotland)
MCALM LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
MCALM LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
MCALM LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
Fixed assets
Investment properties
3
1,175,000
1,175,000
Current assets
-
-
Creditors: amounts falling due within one year
4
(1,174,887)
(1,174,887)
Net current liabilities
(1,174,887)
(1,174,887)
Total assets less current liabilities
113
113
Capital and reserves
Called up share capital
113
113

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 20 September 2024 and are signed on its behalf by:
A P BYRNE
A P Byrne
Director
Company Registration No. SC553087
MCALM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

McAlm Limited is a private company limited by shares incorporated in Scotland. The registered office is 132 Hamilton Place, Aberdeen, Scotland, AB15 5BB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in euros, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest €.

1.2
Going concern

Ttruehe director, having made due and careful enquiry, is of the opinion that the company has adequate working capital to execute its operations over the next 12 months. The director, therefore, has made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As a result, the director has continued to adopt the going concern basis of accounting in preparing the annual financial statements.

 

1.3
Profit and loss account

The company has not traded during the year or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

 

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
MCALM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
3
Investment property
2023
Fair value
At 1 January 2023 and 31 December 2023
1,175,000

The 2023 valuations were made by the director, on an open market value for existing use basis.

4
Creditors: amounts falling due within one year
2023
2022
Other creditors
1,174,887
1,174,887
5
Related party transactions

Control

Throughout the year the company was controlled by the directors.

 

Transactions

During the year, no advances were made nor credits received resulting in amounts due from the company at the year end of €1,174,887 (2022: €1,174,887). The loan is unsecured and interest free with no fixed repayment terms in place.

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