Acorah Software Products - Accounts Production 16.1.300 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 SC297086 Iain Cochrane Murdo Gunn James McCusker Murdo Gunn iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC297086 2023-12-31 SC297086 2024-12-31 SC297086 2024-01-01 2024-12-31 SC297086 frs-core:CurrentFinancialInstruments 2024-12-31 SC297086 frs-core:ShareCapital 2024-12-31 SC297086 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 SC297086 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC297086 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 SC297086 frs-bus:SmallEntities 2024-01-01 2024-12-31 SC297086 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 SC297086 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 SC297086 frs-bus:Director1 2024-01-01 2024-12-31 SC297086 frs-bus:Director2 2024-01-01 2024-12-31 SC297086 frs-bus:Director3 2024-01-01 2024-12-31 SC297086 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 SC297086 frs-countries:Scotland 2024-01-01 2024-12-31 SC297086 2022-12-31 SC297086 2023-12-31 SC297086 2023-01-01 2023-12-31 SC297086 frs-core:CurrentFinancialInstruments 2023-12-31 SC297086 frs-core:ShareCapital 2023-12-31 SC297086 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: SC297086
MCG Properties Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
14 Newton Place
Glasgow
G3 7PY
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: SC297086
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 111,989 1,290
111,989 1,290
CURRENT ASSETS
Cash at bank and in hand 8,022 122,265
8,022 122,265
Creditors: Amounts Falling Due Within One Year 5 (1,762 ) (6,600 )
NET CURRENT ASSETS (LIABILITIES) 6,260 115,665
TOTAL ASSETS LESS CURRENT LIABILITIES 118,249 116,955
NET ASSETS 118,249 116,955
CAPITAL AND RESERVES
Called up share capital 6 6 6
Income Statement 118,243 116,949
SHAREHOLDERS' FUNDS 118,249 116,955
Page 1
Page 2
For the year ending 31 December 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 Income Statement.
On behalf of the board
Murdo Gunn
Director
10/02/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
MCG Properties Limited is a private company, limited by shares, incorporated in Scotland, registered number SC297086 . The registered office is 4 Shanter Place, Ayr, KA7 4RD.
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 rents received or receivable, net of value added taxes.
2.3. Investment Properties
All investment properties are carried at cost value. No depreciation is provided for.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Investment Property
2024
£
Fair Value
As at 1 January 2024 1,290
Additions 110,699
As at 31 December 2024 111,989
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5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 922 -
Other creditors - 3,000
Accruals and deferred income 840 600
Directors' loan accounts - 3,000
1,762 6,600
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 6 6
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