Registered number
SC436622
McDonald Court Limited
Filleted Accounts
30 November 2023
McDonald Court Limited
Registered number: SC436622
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,033,931 1,033,931
Current assets
Debtors 4 1,950 465
Cash at bank and in hand 3,346 1,455
5,296 1,920
Creditors: amounts falling due within one year 5 (406,512) (374,376)
Net current liabilities (401,216) (372,456)
Total assets less current liabilities 632,715 661,475
Creditors: amounts falling due after more than one year 6 (631,892) (661,976)
Net assets/(liabilities) 823 (501)
Capital and reserves
Called up share capital 1 1
Profit and loss account 822 (502)
Shareholder's funds 823 (501)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Michael McDonald
Director
Approved by the board on 18 November 2024
McDonald Court Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
The director is of the opinion that the provision of depreciation on the buildings and fittings therein would not represent a true and fair view of the value of the assets held. Therefore no depreciation has been applied to the properties held by the company.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 December 2022 1,033,931
At 30 November 2023 1,033,931
Depreciation
At 30 November 2023 -
Net book value
At 30 November 2023 1,033,931
At 30 November 2022 1,033,931
4 Debtors 2023 2022
£ £
Trade debtors 1,950 465
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 74,474 74,474
Other creditors 332,038 299,902
406,512 374,376
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 631,892 661,976
7 Other information
McDonald Court Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
C/O Smart Move Ladywell Business Centre
94 Duke Street
Glasgow
G4 0UW
McDonald Court Limited SC436622 false 2022-12-01 2023-11-30 2023-11-30 VT Final Accounts April 2024 Michael McDonald No description of principal activity SC436622 2021-12-01 2022-11-30 SC436622 core:WithinOneYear 2022-11-30 SC436622 core:AfterOneYear 2022-11-30 SC436622 core:ShareCapital 2022-11-30 SC436622 core:RetainedEarningsAccumulatedLosses 2022-11-30 SC436622 2022-12-01 2023-11-30 SC436622 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 SC436622 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 SC436622 bus:Director40 2022-12-01 2023-11-30 SC436622 1 2022-12-01 2023-11-30 SC436622 2 2022-12-01 2023-11-30 SC436622 countries:England 2022-12-01 2023-11-30 SC436622 bus:FRS102 2022-12-01 2023-11-30 SC436622 bus:FilletedAccounts 2022-12-01 2023-11-30 SC436622 2023-11-30 SC436622 core:WithinOneYear 2023-11-30 SC436622 core:AfterOneYear 2023-11-30 SC436622 core:ShareCapital 2023-11-30 SC436622 core:RetainedEarningsAccumulatedLosses 2023-11-30 SC436622 core:LandBuildings 2023-11-30 SC436622 2022-11-30 SC436622 core:LandBuildings 2022-11-30 iso4217:GBP xbrli:pure