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REGISTERED NUMBER: 12044336 (England and Wales)















Financial Statements for the Period 1 July 2023 to 31 May 2024

for

McComb (Bolton) Limited

McComb (Bolton) Limited (Registered number: 12044336)






Contents of the Financial Statements
for the Period 1 July 2023 to 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


McComb (Bolton) Limited

Company Information
for the Period 1 July 2023 to 31 May 2024







DIRECTORS: M W McComb
P M McComb





REGISTERED OFFICE: 9 Moorgate
Ormskirk
L39 4RT





REGISTERED NUMBER: 12044336 (England and Wales)





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

McComb (Bolton) Limited (Registered number: 12044336)

Balance Sheet
31 May 2024

31.5.24 30.6.23
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 381,343 256,006
Investment property 5 27,500,000 25,000,000
27,881,343 25,256,006

CURRENT ASSETS
Debtors 6 165,335 348,667
Cash at bank and in hand 2,779,181 1,788,818
2,944,516 2,137,485
CREDITORS
Amounts falling due within one year 7 792,808 511,648
NET CURRENT ASSETS 2,151,708 1,625,837
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,033,051

26,881,843

CREDITORS
Amounts falling due after more than one
year

8

(5,905,760

)

(5,933,825

)

PROVISIONS FOR LIABILITIES (5,277,902 ) (2,411,659 )
NET ASSETS 18,849,389 18,536,359

CAPITAL AND RESERVES
Called up share capital 100 100
Non distributable reserve 10 15,539,034 15,905,277
Retained earnings 10 3,310,255 2,630,982
18,849,389 18,536,359

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 Statement of Income and Retained Earnings 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 W McComb - Director


McComb (Bolton) Limited (Registered number: 12044336)

Notes to the Financial Statements
for the Period 1 July 2023 to 31 May 2024

1. STATUTORY INFORMATION

McComb (Bolton) 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 as modified by the revaluation of certain assets.

Significant judgements and estimates
As described in note 7, investment properties are stated at their fair value based on the valuation performed by an independent professional valuer, Avison Young (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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property - 10% on cost
Computer equipment - 33% on cost
Motor vehicles- 20% reducing balance

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 period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


McComb (Bolton) Limited (Registered number: 12044336)

Notes to the Financial Statements - continued
for the Period 1 July 2023 to 31 May 2024

2. ACCOUNTING POLICIES - continued
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 period 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 13 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Improvements Plant and Motor
to property machinery vehicles Totals
£ £ £ £
COST
At 1 July 2023 295,583 27,396 44,914 367,893
Additions 88,253 260 94,275 182,788
At 31 May 2024 383,836 27,656 139,189 550,681
DEPRECIATION
At 1 July 2023 99,867 11,271 749 111,887
Charge for period 35,185 6,313 15,953 57,451
At 31 May 2024 135,052 17,584 16,702 169,338
NET BOOK VALUE
At 31 May 2024 248,784 10,072 122,487 381,343
At 30 June 2023 195,716 16,125 44,165 256,006

McComb (Bolton) Limited (Registered number: 12044336)

Notes to the Financial Statements - continued
for the Period 1 July 2023 to 31 May 2024

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 July 2023 25,000,000
Revaluations 2,500,000
At 31 May 2024 27,500,000
NET BOOK VALUE
At 31 May 2024 27,500,000
At 30 June 2023 25,000,000

Fair value at 31 May 2024 is represented by:
£
Valuation in 2022 8,926,052
Valuation in 2023 9,390,630
Valuation in 2024 2,500,000
Cost 6,683,318
27,500,000

On 01 March 2024 investment property was professionally valued in accordance with the RICS Valuation - Global Standards effective from 31 January 2022 on an open market fair value basis by Avison Young (MRICS). The directors consider this to be fair value at 31 May 2024.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 30.6.23
£ £
Trade debtors 34,039 6,017
Other debtors 131,296 342,650
165,335 348,667

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 30.6.23
£ £
Hire purchase contracts 5,440 -
Trade creditors 170,904 18,629
Taxation and social security 204,829 134,367
Other creditors 411,635 358,652
792,808 511,648

McComb (Bolton) Limited (Registered number: 12044336)

Notes to the Financial Statements - continued
for the Period 1 July 2023 to 31 May 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 30.6.23
£ £
Bank loans 5,837,738 5,933,825
Hire purchase contracts 68,022 -
5,905,760 5,933,825

Bank loans are interest only loans and are therefore due over 1 year.

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 30.6.23
£ £
Bank loans 5,837,738 5,933,825

The bank loans are secured by way of fixed and floating charges issued on the 29 October 2021.

10. RESERVES
Non
Retained distributable
earnings reserve Totals
£ £ £

At 1 July 2023 2,675,742 15,905,277 18,581,019
Prior year adjustment (44,760 ) - (44,760 )
2,630,982 15,905,277 18,536,259
Profit for the period 313,030 - 313,030
Revaluation of fixed assets (2,500,000 ) 2,500,000 -
Deferred tax movement 2,866,243 (2,866,243 ) -
At 31 May 2024 3,310,255 15,539,034 18,849,289

11. 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

12. RELATED PARTY DISCLOSURES

At 31 May 2024, other debtors also included an amount of £91,746 (2023: £118,789) due from McComb Property Company Limited, a company under common control.