Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29false2023-03-01Buying and selling of own real estate22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13918011 2023-03-01 2024-02-29 13918011 2022-02-15 2023-02-28 13918011 2024-02-29 13918011 2023-02-28 13918011 c:Director1 2023-03-01 2024-02-29 13918011 d:PlantMachinery 2023-03-01 2024-02-29 13918011 d:PlantMachinery 2024-02-29 13918011 d:PlantMachinery 2023-02-28 13918011 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 13918011 d:FurnitureFittings 2023-03-01 2024-02-29 13918011 d:FurnitureFittings 2024-02-29 13918011 d:FurnitureFittings 2023-02-28 13918011 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 13918011 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 13918011 d:LeaseholdInvestmentProperty 2024-02-29 13918011 d:LeaseholdInvestmentProperty 2023-02-28 13918011 d:CurrentFinancialInstruments 2024-02-29 13918011 d:CurrentFinancialInstruments 2023-02-28 13918011 d:Non-currentFinancialInstruments 2024-02-29 13918011 d:Non-currentFinancialInstruments 2023-02-28 13918011 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 13918011 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 13918011 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 13918011 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 13918011 d:ShareCapital 2024-02-29 13918011 d:ShareCapital 2023-02-28 13918011 d:RetainedEarningsAccumulatedLosses 2024-02-29 13918011 d:RetainedEarningsAccumulatedLosses 2023-02-28 13918011 c:OrdinaryShareClass1 2023-03-01 2024-02-29 13918011 c:OrdinaryShareClass1 2024-02-29 13918011 c:OrdinaryShareClass1 2023-02-28 13918011 c:FRS102 2023-03-01 2024-02-29 13918011 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 13918011 c:FullAccounts 2023-03-01 2024-02-29 13918011 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13918011 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 13918011














MCCARTHY DEVELOPMENTS LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

 
MCCARTHY DEVELOPMENTS LTD
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Accounts
 
3 - 7


 
MCCARTHY DEVELOPMENTS LTD
REGISTERED NUMBER:13918011

STATEMENT OF FINANCIAL POSITION
AS AT 29 FEBRUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,374
4,500

Investment property
 5 
272,648
272,648

  
276,022
277,148

Current assets
  

Debtors: amounts falling due within one year
 6 
-
229

Bank and cash balances
  
1,800
2,910

  
1,800
3,139

Creditors: amounts falling due within one year
 7 
(99,031)
(97,536)

Net current liabilities
  
 
 
(97,231)
 
 
(94,397)

Total assets less current liabilities
  
178,791
182,751

Creditors: amounts falling due after more than one year
 8 
(181,034)
(186,068)

  

Net liabilities
  
(2,243)
(3,317)


Capital and reserves
  

Called up share capital 
 9 
2
2

Profit and loss account
  
(2,245)
(3,319)

  
(2,243)
(3,317)


Page 1

 
MCCARTHY DEVELOPMENTS LTD
REGISTERED NUMBER:13918011
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 29 FEBRUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S W Mccarthy
Director

Date: 4 October 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
MCCARTHY DEVELOPMENTS LTD
 
 
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

The company's legal form is that of a limited liability company incorporated in England and Wales. 
The Company's registered office address is at 110 London Road, Wheatley, Oxford, Oxfordshire, OX33 1YH.
The principal activity of the company continued to be that of renting, buying and selling of own real estate 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises amounts chargeable in respect of the rent from investment property during the year.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided on the following basis:

Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance


The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

 
2.4

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

Page 3

 
MCCARTHY DEVELOPMENTS LTD
 
 
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 4

 
MCCARTHY DEVELOPMENTS LTD
 
 
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 March 2023
1,018
4,981
5,999



At 29 February 2024

1,018
4,981
5,999



Depreciation


At 1 March 2023
255
1,245
1,500


Charge for the year on owned assets
191
934
1,125



At 29 February 2024

446
2,179
2,625



Net book value



At 29 February 2024
572
2,802
3,374



At 28 February 2023
764
3,736
4,500

Page 5

 
MCCARTHY DEVELOPMENTS LTD
 
 
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Investment property





Long term leasehold investment property

£



Valuation


At 1 March 2023
272,648



At 29 February 2024
272,648

The 2024 valuations were made by the director, on an open market value for existing use basis.




Page 6

 
MCCARTHY DEVELOPMENTS LTD
 
 
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Debtors

2024
2023
£
£


Other debtors
-
229



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Loans
5,167
5,096

Other creditors
92,280
91,000

Accruals and deferred income
1,584
1,440

99,031
97,536



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Loans
181,034
186,068


The mortgage is secured by a charge over the leasehold property.


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares shares of £1.00 each
2
2


 
Page 7