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REGISTERED NUMBER: 04273623 (England and Wales)







FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

MCD HOLDINGS (UK) LIMITED

MCD HOLDINGS (UK) LIMITED (REGISTERED NUMBER: 04273623)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MCD HOLDINGS (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: J A Collins
A J McCabe
T J McCabe





SECRETARY: J A Collins





REGISTERED OFFICE: Charter House
161 Newhall Street
Birmingham
West Midlands
B3 1SW





REGISTERED NUMBER: 04273623 (England and Wales)





AUDITORS: Prime
Chartered Accountants
Statutory Auditor
161 Newhall Street
Birmingham
B3 1SW

MCD HOLDINGS (UK) LIMITED (REGISTERED NUMBER: 04273623)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 624,998 665,054
Investments 5 90 90
625,088 665,144

CURRENT ASSETS
Debtors 6 381,285 52,430
Cash at bank 274,282 187,570
655,567 240,000
CREDITORS
Amounts falling due within one year 7 476,095 375,642
NET CURRENT ASSETS/(LIABILITIES) 179,472 (135,642 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

804,560

529,502

CREDITORS
Amounts falling due after more than one
year

8

(65,705

)

(65,705

)

PROVISIONS FOR LIABILITIES (5,284 ) (10,086 )
NET ASSETS 733,571 453,711

CAPITAL AND RESERVES
Called up share capital 78 78
Revaluation reserve 248,765 260,612
Capital redemption reserve 12 12
Retained earnings 484,716 193,009
SHAREHOLDERS' FUNDS 733,571 453,711

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2024 and were signed on its behalf by:





A J McCabe - Director


MCD HOLDINGS (UK) LIMITED (REGISTERED NUMBER: 04273623)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

MCD Holdings (UK) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 to include certain items at fair value.

Preparation of consolidated financial statements
The financial statements contain information about MCD Holdings (UK) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - over remaining life of lease
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on cost
Computer equipment - 33.33% on cost

The directors have adopted a policy of revaluation with regards to long leasehold property.

The long leasehold property is carried at its revalued amount, being fair value at the date of valuation less subsequent losses arising from impairment reviews. Revaluations are performed by professional qualified valuers with sufficient regularity to ensure the carrying amount does not differ materially from those that would be determined using fair values at the end of each accounting period.

Any revaluation increase in the carrying amount is recognised in other comprehensive income and included in a revaluation reserve in equity, except to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit and loss, in which case the increase is credited to profit and loss to the extent that the previous decrease is expended. Decreases that offset previous increases of the same asset are charged in other comprehensive income and debited against the revaluation reserve in equity; decreases exceeding the balance in the revaluation reserve relating to an asset are recognised in profit and loss.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.


MCD HOLDINGS (UK) LIMITED (REGISTERED NUMBER: 04273623)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued
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.

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

For non-financial assets, the asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of the asset is the higher of its fair value less costs to sell and its value in use.

For financial assets carried at amortised costs, the amount of an impairment is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for the decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Rental income
Rental income is credited to the profit and loss account on a receivable basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

MCD HOLDINGS (UK) LIMITED (REGISTERED NUMBER: 04273623)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 March 2023
and 29 February 2024 700,000 159,271 82,089 48,866 990,226
DEPRECIATION
At 1 March 2023 80,000 121,681 74,625 48,866 325,172
Charge for year 20,000 15,183 4,873 - 40,056
At 29 February 2024 100,000 136,864 79,498 48,866 365,228
NET BOOK VALUE
At 29 February 2024 600,000 22,407 2,591 - 624,998
At 28 February 2023 620,000 37,590 7,464 - 665,054

Cost or valuation at 29 February 2024 is represented by:

Fixtures
Long Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
Valuation in 2018 (7,660 ) - - - (7,660 )
Valuation in 2019 300,000 - - - 300,000
Cost 407,660 159,271 82,089 48,866 697,886
700,000 159,271 82,089 48,866 990,226

If long leasehold property had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 407,660 407,660
Aggregate depreciation 166,645 158,492

Long leasehold property was valued on an open market basis on 3 June 2019 by Bruton Knowles LLP .

The directors consider that the valuation at 29 February 2024 is not materially different from the above.

MCD HOLDINGS (UK) LIMITED (REGISTERED NUMBER: 04273623)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2023
and 29 February 2024 90
NET BOOK VALUE
At 29 February 2024 90
At 28 February 2023 90

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 343,330 -
Other debtors 37,955 52,430
381,285 52,430

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings - 159,417
Taxation and social security 5,674 -
Other creditors 470,421 216,225
476,095 375,642

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 65,705 65,705

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jeremy Kitson BA FCA (Senior Statutory Auditor)
for and on behalf of Prime

10. RELATED PARTY DISCLOSURES

Transactions with company's subsidiary during the year involved a charge for rent of £107,408 (2023: £53,704) and management charges of £40,000 (2023: £nil). As at the year end £343,330 (2023: £159,417 owed to) is due from Countrywide Electrical Services Limited.