IRIS Accounts Production v24.2.0.383 11270162 director 1.4.23 31.3.24 31.3.24 false true false false true false Ordinary A 1.00000 Ordinary B 1.00000 Ordinary C 1.00000 Ordinary D 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh112701622023-03-31112701622024-03-31112701622023-04-012024-03-31112701622022-03-31112701622022-04-012023-03-31112701622023-03-3111270162ns15:EnglandWales2023-04-012024-03-3111270162ns14:PoundSterling2023-04-012024-03-3111270162ns10:Director12023-04-012024-03-3111270162ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3111270162ns10:SmallEntities2023-04-012024-03-3111270162ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3111270162ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3111270162ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3111270162ns10:FullAccounts2023-04-012024-03-3111270162ns10:OrdinaryShareClass12023-04-012024-03-3111270162ns10:OrdinaryShareClass22023-04-012024-03-3111270162ns10:OrdinaryShareClass32023-04-012024-03-3111270162ns10:OrdinaryShareClass42023-04-012024-03-3111270162ns10:RegisteredOffice2023-04-012024-03-3111270162ns5:CurrentFinancialInstruments2024-03-3111270162ns5:CurrentFinancialInstruments2023-03-3111270162ns5:Non-currentFinancialInstruments2024-03-3111270162ns5:Non-currentFinancialInstruments2023-03-3111270162ns5:ShareCapital2024-03-3111270162ns5:ShareCapital2023-03-3111270162ns5:RevaluationReserve2024-03-3111270162ns5:RevaluationReserve2023-03-3111270162ns5:RetainedEarningsAccumulatedLosses2024-03-3111270162ns5:RetainedEarningsAccumulatedLosses2023-03-3111270162ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-03-3111270162ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-03-3111270162ns5:Secured2024-03-3111270162ns5:Secured2023-03-3111270162ns10:OrdinaryShareClass12024-03-3111270162ns10:OrdinaryShareClass22024-03-3111270162ns10:OrdinaryShareClass32024-03-3111270162ns10:OrdinaryShareClass42024-03-3111270162ns5:RetainedEarningsAccumulatedLosses2023-03-3111270162ns5:RevaluationReserve2023-03-3111270162ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-3111270162ns5:RevaluationReserve2023-04-012024-03-31
REGISTERED NUMBER: 11270162 (England and Wales)















MACASA PROPERTY & MANAGEMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






MACASA PROPERTY & MANAGEMENT LIMITED (REGISTERED NUMBER: 11270162)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MACASA PROPERTY & MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: C Andreou





REGISTERED OFFICE: 2nd Floor, One Hobbs House
Harrovian Business Village
Bessborough Road
Harrow
HA1 3EX





REGISTERED NUMBER: 11270162 (England and Wales)





ACCOUNTANTS: Albury Associates Limited
2nd Floor, One Hobbs House,
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX

MACASA PROPERTY & MANAGEMENT LIMITED (REGISTERED NUMBER: 11270162)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,235,000 1,064,863

CURRENT ASSETS
Cash at bank 6,147 5,223

CREDITORS
Amounts falling due within one year 5 456,938 279,131
NET CURRENT LIABILITIES (450,791 ) (273,908 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

784,209

790,955

CREDITORS
Amounts falling due after more than one year 6 (594,189 ) (782,751 )

PROVISIONS FOR LIABILITIES (32,326 ) -
NET ASSETS 157,694 8,204

CAPITAL AND RESERVES
Called up share capital 8 400 400
Revaluation reserve 9 137,811 -
Retained earnings 9 19,483 7,804
SHAREHOLDERS' FUNDS 157,694 8,204

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MACASA PROPERTY & MANAGEMENT LIMITED (REGISTERED NUMBER: 11270162)

BALANCE SHEET - continued
31 MARCH 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 November 2024 and were signed by:





C Andreou - Director


MACASA PROPERTY & MANAGEMENT LIMITED (REGISTERED NUMBER: 11270162)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Macasa Property & Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

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

Revenues are recognised when the investment properties are occupied by tenants.

Investment property
Tangible fixed assets comprise of investment properties. The investment property values are reviewed regularly and they are also regularly maintained to a high standard with any associated costs being written off to the profit and loss account in the year in which the costs incurred.

As a result, no depreciation is provided in respect of investment properties; this constitutes a departure from the statutory rules requiring fixed assets to be depreciated over their useful economic lives and is necessary to give a true and fair view.

Depreciation is only one of the many factors reflected in the review and the amount which might otherwise have been shown cannot be separately identified or quantified.

Tangible fixed assets other than investment properties are stated at cost or valuation less depreciation.
Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of
each asset over its expected useful life.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

MACASA PROPERTY & MANAGEMENT LIMITED (REGISTERED NUMBER: 11270162)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 April 2023 1,064,863
Revaluations 170,137
At 31 March 2024 1,235,000
NET BOOK VALUE
At 31 March 2024 1,235,000
At 31 March 2023 1,064,863

Cost or valuation at 31 March 2024 is represented by:
£   
Valuation in 2023 1,064,863
Valuation in 2024 170,137
1,235,000

Investment properties were revalued at the year-end date to their fair value of £1,235,000 by the Director, based on his online research. If the investment properties were included in the balance sheet on an historical cost basis, then the carrying amount would be £1,064,863 (2023: £1,064,863). The director is of the opinion that, given the static nature of the property market in recent times, the difference between the fair value and the estimated fair value was not significant, therefore he has adopted the fair value based on his research.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,362 5,230
Taxation and social security 2,739 2,077
Other creditors 448,837 271,824
456,938 279,131

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 30,976 36,338
Other creditors 563,213 746,413
594,189 782,751

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more than 5 years 563,213 564,413

Repayable by instalments
Bank loans more 5 yr by instal 2,060 8,136

MACASA PROPERTY & MANAGEMENT LIMITED (REGISTERED NUMBER: 11270162)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 563,213 746,413

Other Loans are secured by way of a fixed charge over the individual investment properties to which they relate.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary A £1 100 100
100 Ordinary B £1 100 100
100 Ordinary C £1 100 100
100 Ordinary D £1 100 100
400 400

All Shares rank pari passu in all respects.

9. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2023 7,804 - 7,804
Profit for the year 11,679 11,679
Revaluation during the year - 137,811 137,811
At 31 March 2024 19,483 137,811 157,294

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C Andreou.