Acorah Software Products - Accounts Production 16.1.300 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 NI679282 Miss Christina McQuillan Mr Martin McQuillan Mrs Nicola Nicholson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI679282 2023-05-31 NI679282 2024-05-31 NI679282 2023-06-01 2024-05-31 NI679282 frs-core:CurrentFinancialInstruments 2024-05-31 NI679282 frs-core:ShareCapital 2024-05-31 NI679282 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 NI679282 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 NI679282 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 NI679282 frs-bus:SmallEntities 2023-06-01 2024-05-31 NI679282 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 NI679282 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 NI679282 frs-bus:Director1 2023-06-01 2024-05-31 NI679282 frs-bus:Director2 2023-06-01 2024-05-31 NI679282 frs-bus:Director3 2023-06-01 2024-05-31 NI679282 frs-countries:NorthernIreland 2023-06-01 2024-05-31 NI679282 2022-05-31 NI679282 2023-05-31 NI679282 2022-06-01 2023-05-31 NI679282 frs-core:CurrentFinancialInstruments 2023-05-31 NI679282 frs-core:ShareCapital 2023-05-31 NI679282 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: NI679282
MMQ Property Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Gray + Press Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: NI679282
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 245,000 245,000
245,000 245,000
CURRENT ASSETS
Debtors 5 11,900 3,001
Cash at bank and in hand 88 671
11,988 3,672
Creditors: Amounts Falling Due Within One Year 6 (238,706 ) (237,902 )
NET CURRENT ASSETS (LIABILITIES) (226,718 ) (234,230 )
TOTAL ASSETS LESS CURRENT LIABILITIES 18,282 10,770
NET ASSETS 18,282 10,770
CAPITAL AND RESERVES
Called up share capital 1 1
Profit and Loss Account 18,281 10,769
SHAREHOLDERS' FUNDS 18,282 10,770
Page 1
Page 2
For the year ending 31 May 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 Profit and Loss Account.
On behalf of the board
Mr Martin McQuillan
Director
31/10/2024
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
MMQ Property Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI679282 . The registered office is 25 Tuftarney Road, Newtown Crommelin, Ballymena, County Antrim, BT43 6RZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Investment Properties
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. 
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: )
- -
4. Investment Property
2024
£
Fair Value
As at 1 June 2023 and 31 May 2024 245,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 245,000 -
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 11,900 3,001
Page 3
Page 4
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 236,202 235,803
Taxation and social security 2,504 2,099
238,706 237,902
Page 4