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REGISTERED NUMBER: 13381997 (England and Wales)














MCGONNELL PROPERTIES LTD

Unaudited Financial Statements

for the Year Ended 31 May 2024






MCGONNELL PROPERTIES LTD (REGISTERED NUMBER: 13381997)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MCGONNELL PROPERTIES LTD

Company Information
for the Year Ended 31 May 2024







DIRECTORS: L McGonnell
M McGonnell





REGISTERED OFFICE: 58 Bessacarr Lane
Doncaster
South Yorkshire
DN4 7PU





REGISTERED NUMBER: 13381997 (England and Wales)






MCGONNELL PROPERTIES LTD (REGISTERED NUMBER: 13381997)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 482,948 357,150

CURRENT ASSETS
Cash at bank and in hand 7,530 625

CREDITORS
Amounts falling due within one year 5 115,404 105,490
NET CURRENT LIABILITIES (107,874 ) (104,865 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

375,074

252,285

CREDITORS
Amounts falling due after more than one
year

6

(349,045

)

(249,953

)

PROVISIONS FOR LIABILITIES (7,057 ) -
NET ASSETS 18,972 2,332

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 18,970 2,330
18,972 2,332

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MCGONNELL PROPERTIES LTD (REGISTERED NUMBER: 13381997)

Balance Sheet - continued
31 May 2024


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 17 February 2025 and were signed on its behalf by:




L McGonnell - Director



M McGonnell - Director


MCGONNELL PROPERTIES LTD (REGISTERED NUMBER: 13381997)

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

1. STATUTORY INFORMATION

McGonnell Properties Ltd 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

MCGONNELL PROPERTIES LTD (REGISTERED NUMBER: 13381997)

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 357,150
Additions 102,948
Disposals (5,550 )
Revaluations 28,400
At 31 May 2024 482,948
NET BOOK VALUE
At 31 May 2024 482,948
At 31 May 2023 357,150

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2022 20,000
Valuation in 2024 28,400
Cost 434,548
482,948

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 115,404 105,490

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 349,045 249,953

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 271,644 204,440