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Registered number: 04439188
Macclesfield Properties Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Lennards
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04439188
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 404,225 408,567
Investments 5 40,400 10,250
444,625 418,817
CURRENT ASSETS
Debtors 6 252,400 246,100
Cash at bank and in hand 1,803 5,480
254,203 251,580
Creditors: Amounts Falling Due Within One Year 7 (537,914 ) (497,123 )
NET CURRENT ASSETS (LIABILITIES) (283,711 ) (245,543 )
TOTAL ASSETS LESS CURRENT LIABILITIES 160,914 173,274
NET ASSETS 160,914 173,274
CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 10 (2,225 ) (150 )
Profit and Loss Account 163,039 173,324
SHAREHOLDERS' FUNDS 160,914 173,274
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Page 2
For the year ending 31 May 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 Martyn John Cole
Director
22/10/2024
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
Macclesfield Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04439188 . The registered office is The Vicarage 31 Great King Street, Macclesfield, Cheshire, SK11 6PL.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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:
Freehold 2% per annum of cost of buildings only
Computer Equipment 20% per annum of cost
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 5 5
5 5
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4. Tangible Assets
Land & Property
Freehold Computer Equipment Total
£ £ £
Cost
As at 1 June 2023 434,158 369 434,527
As at 31 May 2024 434,158 369 434,527
Depreciation
As at 1 June 2023 25,592 368 25,960
Provided during the period 4,342 - 4,342
As at 31 May 2024 29,934 368 30,302
Net Book Value
As at 31 May 2024 404,224 1 404,225
As at 1 June 2023 408,566 1 408,567
5. Investments
Listed
£
Cost
As at 1 June 2023 10,250
Additions 32,225
Revaluations (2,075 )
As at 31 May 2024 40,400
Provision
As at 1 June 2023 -
As at 31 May 2024 -
Net Book Value
As at 31 May 2024 40,400
As at 1 June 2023 10,250
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 252,400 246,100
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 48,436 125,000
Other taxes and social security 438 686
Net wages - 1,486
Other creditors 800 800
Accruals and deferred income 1,050 950
Directors' loan accounts 487,190 368,201
537,914 497,123
8. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 48,436 125,000
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Reserves
Revaluation Reserve
£
As at 1 June 2023 (150 )
Deficit on revaluation (2,075)
As at 31 May 2024 (2,225 )
11. Related Party Transactions
All related party transactions are at market value unless otherwise stated.
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