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REGISTERED NUMBER: 14287078 (England and Wales)















Financial Statements for the Year Ended 31 May 2024

for

McComb Property Management Limited

McComb Property Management Limited (Registered number: 14287078)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


McComb Property Management Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: M McComb
Mrs S M McComb
P M McComb



REGISTERED OFFICE: 9 Moorgate
Ormskirk
L39 4RT



REGISTERED NUMBER: 14287078 (England and Wales)



SENIOR STATUTORY
AUDITOR:
Mr Timothy Cherry FCCA



AUDITORS: Haines Watts
Statutory Auditor
3rd Floor Pacific Chambers
11-13 Victoria Street
Liverpool
Merseyside
L2 5QQ

McComb Property Management Limited (Registered number: 14287078)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £ £ £ £
FIXED ASSETS
Investment property 4 5,893,304 -

CURRENT ASSETS
Debtors 5 17,728 100
Cash at bank 26,556 -
44,284 100
CREDITORS
Amounts falling due within one year 6 2,425,586 -
NET CURRENT (LIABILITIES)/ASSETS (2,381,302 ) 100
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,512,002

100

CREDITORS
Amounts falling due after more than one
year

7

3,500,000

-
NET ASSETS 12,002 100

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 11,902 -
SHAREHOLDERS' FUNDS 12,002 100

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 13 February 2025 and were signed on its behalf by:





M McComb - Director


McComb Property Management Limited (Registered number: 14287078)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

McComb 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
As described in note 4, investment properties are stated at their fair value based on the valuation performed by an independent professional valuer, Matthews & Goodman LLP (MRICS). The valuer used
an open market fair value basis for its valuation.

However, external factors such as global conflict, political changes, the COVID-19 pandemic, inflation and changes in the macro-economic environment in relation to online commerce, have caused significant disruption and uncertainty in the UK property market which has inevitably increased the degree of judgement involved in the property valuation at 31 May 2024.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

McComb Property Management Limited (Registered number: 14287078)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£
FAIR VALUE
Additions 5,893,304
At 31 May 2024 5,893,304
NET BOOK VALUE
At 31 May 2024 5,893,304

On 16 August 2022 the investment properties were professionally valued in accordance with the RICS Valuation - Global Standards effective from 31 January 2022, on an open market fair value basis by Matthews & Goodman LLP (MRICS). The directors consider this to be fair value at 31 May 2024.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£ £
Trade debtors 17,628 -
Amounts owed by group undertakings 100 100
17,728 100

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£ £
Trade creditors 83 -
Amounts owed to group undertakings 2,384,242 -
Other creditors 41,261 -
2,425,586 -

Amounts owed to group undertakings are interest free and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£ £
Bank loans 3,500,000 -

McComb Property Management Limited (Registered number: 14287078)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£ £
Bank loans 3,500,000 -

The bank loans are secured by way of fixed charges on investment properties issued on the 2 June 2023.

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

The Report of the Auditors was unqualified.

Mr Timothy Cherry FCCA (Senior Statutory Auditor)
for and on behalf of Haines Watts

10. RELATED PARTY DISCLOSURES

During the year ended 31 May 2024, McComb Property Company Limited transferred ownership of certain properties to McComb Property Management Limited based on their fair value of £5,880,000.

11. ULTIMATE CONTROLLING PARTY

The Company's parent company is McComb Property Company Limited, registered in England and Wales.The ultimate controlling party is McComb Property Company Limited.

McComb Property Company Limited is the smallest and largest company for which consolidated accounts including McComb Property Management Limited are prepared. The consolidated accounts of McComb Property Company Limited are available to the public from its registered office, 9 Moorgate, Ormskirk, England, L39 4RT. Registered number 03565598.