2 2 M.C.W. Properties Limited NI023071 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is property investment Digita Accounts Production Advanced 6.30.9574.0 true NI023071 2023-05-01 2024-04-30 NI023071 2024-04-30 NI023071 bus:OrdinaryShareClass1 2024-04-30 NI023071 core:CurrentFinancialInstruments 2024-04-30 NI023071 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 NI023071 core:FurnitureFittingsToolsEquipment 2024-04-30 NI023071 core:LandBuildings 2024-04-30 NI023071 bus:SmallEntities 2023-05-01 2024-04-30 NI023071 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 NI023071 bus:FilletedAccounts 2023-05-01 2024-04-30 NI023071 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 NI023071 bus:RegisteredOffice 2023-05-01 2024-04-30 NI023071 bus:Director1 2023-05-01 2024-04-30 NI023071 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 NI023071 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 NI023071 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 NI023071 core:LandBuildings 2023-05-01 2024-04-30 NI023071 core:OfficeEquipment 2023-05-01 2024-04-30 NI023071 countries:NorthernIreland 2023-05-01 2024-04-30 NI023071 2023-04-30 NI023071 core:FurnitureFittingsToolsEquipment 2023-04-30 NI023071 core:LandBuildings 2023-04-30 NI023071 2022-05-01 2023-04-30 NI023071 2023-04-30 NI023071 bus:OrdinaryShareClass1 2023-04-30 NI023071 core:CurrentFinancialInstruments 2023-04-30 NI023071 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 NI023071 core:FurnitureFittingsToolsEquipment 2023-04-30 NI023071 core:LandBuildings 2023-04-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: NI023071

M.C.W. Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

M.C.W. Properties Limited

(Registration number: NI023071)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

19

600,025

Current assets

 

Debtors

5

537,151

931

Cash at bank and in hand

 

214,962

121,524

 

752,113

122,455

Creditors: Amounts falling due within one year

6

(45,107)

(60,913)

Net current assets

 

707,006

61,542

Net assets

 

707,025

661,567

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

707,023

661,565

Shareholders' funds

 

707,025

661,567

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 January 2025 and signed on its behalf by:
 

.........................................
Mr James McWhirter
Director

 

M.C.W. Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 64 Station Road, Holywood, Co. Down, BT18 0BP.

These financial statements were authorised for issue by the Board on 20 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Rental income

Rental income represents rents earned during the accounting period, excluding value added tax and net of irrecoverable debts.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

20-25% per year reducing balance basis

 

M.C.W. Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Investment properties

Investment properties are initially measured at cost. Cost comprises the purchase price and any directly attributable expenditure including fees, taxes and other transaction costs. Direct costs initially incurred in arranging a lease are included in the cost of the property and subsequently expensed over the lease term. Investment properties are measured at fair value at each reporting date with any changes in fair value recognised in the profit and loss account.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Financial assets, including debtors, are reviewed at the reporting date to determine if there is any evidence of potential impairment. Any losses arising from impairment are recognised in the income statement in operating expenses.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

M.C.W. Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Investment properties
£

Office Equipment
 £

Total
£

Cost or valuation

At 1 May 2023

600,000

3,430

603,430

Disposals

(600,000)

-

(600,000)

At 30 April 2024

-

3,430

3,430

Depreciation

At 1 May 2023

-

3,405

3,405

Charge for the year

-

6

6

At 30 April 2024

-

3,411

3,411

Carrying amount

At 30 April 2024

-

19

19

At 30 April 2023

600,000

25

600,025

5

Debtors

2024
£

2023
£

Other debtors

537,151

931

537,151

931

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals

2,200

18,993

Other creditors

42,907

41,920

45,107

60,913

 

M.C.W. Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       

8

Related party transactions

Included in other creditors due within one year is an amount of £ 42,907 (2023: £36,640) due to the directors.

Also included in other debtors is an amount of £534,720 due to the company from M.C.W. Distribution Limited, a company controlled by James McWhirter (2023: £5,280 was owed by the company to M.C.W. Distribution Limited).