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COMPANY REGISTRATION NUMBER: 05159620
McCarthy Holden (Property Management) Limited
Filleted Unaudited Financial Statements
Year ended
31 December 2023
McCarthy Holden (Property Management) Limited
Financial Statements
Year ended 31 December 2023
Contents
Pages
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2 to 3
Accounting policies
4 to 5
Notes to the financial statements
6 to 7
McCarthy Holden (Property Management) Limited
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of McCarthy Holden (Property Management) Limited
Year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of McCarthy Holden (Property Management) Limited for the year ended 31 December 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.
PORTER GARLAND Chartered accountants
Communication House Victoria Avenue Camberley Surrey GU15 3HX
19 September 2024
McCarthy Holden (Property Management) Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
4
7,283
9,269
Current assets
Debtors
5
350,669
288,568
Cash at bank and in hand
125
---------
---------
350,794
288,568
Creditors: amounts falling due within one year
6
295,681
256,724
---------
---------
Net current assets
55,113
31,844
--------
--------
Total assets less current liabilities
62,396
41,113
--------
--------
Net assets
62,396
41,113
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
62,296
41,013
--------
--------
Shareholder funds
62,396
41,113
--------
--------
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 income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
McCarthy Holden (Property Management) Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 19 September 2024 , and are signed on behalf of the board by:
Mr J G Holden
Director
Company registration number: 05159620
McCarthy Holden (Property Management) Limited
Accounting Policies
Year ended 31 December 2023
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.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.
Revenue recognition
Turnover comprises the value of sales (net of VAT, similar taxes and trade discounts) of goods and services provided in the normal course of business. Turnover is recognised by reference to the invoice date as this is the point at which the risks and rewards pass to the customer.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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
-
15% straight line
Equipment
-
15% straight line
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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
McCarthy Holden (Property Management) Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Communication House, Victoria Avenue, Camberley, Surrey, GU15 3HX.
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. Employee numbers
The average number of persons employed by the company during the year amounted to 11 (2022: 11 ).
4. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 January 2023 and 31 December 2023
18,601
26,789
45,390
--------
--------
--------
Depreciation
At 1 January 2023
9,974
26,147
36,121
Charge for the year
1,844
142
1,986
--------
--------
--------
At 31 December 2023
11,818
26,289
38,107
--------
--------
--------
Carrying amount
At 31 December 2023
6,783
500
7,283
--------
--------
--------
At 31 December 2022
8,627
642
9,269
--------
--------
--------
5. Debtors
2023
2022
£
£
Trade debtors
2,217
2,217
Amounts owed by group undertakings and undertakings in which the company has a participating interest
335,200
271,202
Other debtors
13,252
15,149
---------
---------
350,669
288,568
---------
---------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
789
Trade creditors
19,936
20,805
Social security and other taxes
24,388
15,523
Other creditors
251,357
219,607
---------
---------
295,681
256,724
---------
---------
7. Other financial commitments
The company has the total amount of £41,753 (2022: £61,753) in respect of financial commitments, guarantees and contingencies at the balance sheet date.
8. Directors' advances, credits and guarantees
The directors loan account is not disclosed as permitted under Section 1A of FRS 102.
9. Controlling party
The company is a wholly owned subsidiary of Kilbricken Enterprises Limited. The Registered Office of the parent company is Communication House, Victoria Avenue, Camberley, Surrey GU15 3HX, and it's principal place of business is 61 High Street, Hartley Wintney, Hook RG27 8NY.