Company Registration No. 11961841 (England and Wales)
Mac Developments London Ltd
Unaudited accounts
for the year ended 30 April 2024
Mac Developments London Ltd
Unaudited accounts
Contents
Mac Developments London Ltd
Company Information
for the year ended 30 April 2024
Directors
Ben Neil Mackereth
Putri Dorothy Mackereth
Company Number
11961841 (England and Wales)
Registered Office
Flat 34
Luna House
37 Bermondsey Wall West
London
SE16 4RN
England
Accountants
Abacus Accounting Solutions Ltd
5 Pasture Close
North Wembley
Middlesex
HA0 3JE
Mac Developments London Ltd
Statement of financial position
as at 30 April 2024
Investment property
585,000
585,000
Debtors
1,891,926
1,740,724
Cash at bank and in hand
16,763
463
Creditors: amounts falling due within one year
(1,643,833)
(1,549,782)
Net current assets
264,856
191,405
Total assets less current liabilities
849,906
776,455
Creditors: amounts falling due after more than one year
(515,328)
(512,819)
Provisions for liabilities
Deferred tax
(17,596)
(13,373)
Net assets
316,982
250,263
Called up share capital
100
100
Fair value reserve
57,010
57,010
Profit and loss account
259,872
193,153
Shareholders' funds
316,982
250,263
For the year ending 30 April 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 February 2024 and were signed on its behalf by
Putri Dorothy Mackereth
Director
Company Registration No. 11961841
Mac Developments London Ltd
Notes to the Accounts
for the year ended 30 April 2024
Mac Developments London Ltd is a private company, limited by shares, registered in England and Wales, registration number 11961841. The registered office is Flat 34, Luna House, 37 Bermondsey Wall West, London, SE16 4RN, England.
2
Compliance with accounting standards
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Government assisted loans
Loans received through the Bounce Back Loan Scheme (BBLS) or the Coronavirus Business Interruption Loan Scheme (CBILS) are accounted for on the date the funds are received by the company. The first twelve months of the interest charge, which is funded by the government, is recognised in the profit and loss account as both an interest charge and as a government grant receivable.
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.
The accounts are presented in £ sterling.
Fair value at 1 May 2023
585,000
The investment property was valued by the directors.
5
Investments
Subsidiary undertakings
Valuation at 1 May 2023
50
Valuation at 30 April 2024
50
Mac Developments London Ltd
Notes to the Accounts
for the year ended 30 April 2024
Amounts falling due within one year
Other debtors
1,891,026
1,740,724
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
4,721
9,952
Other creditors
1,638,147
1,539,080
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
515,328
512,819
The bank loans are secured by way of a fixed and floating charge over the assets of the company and contains a negative pledge.
9
Transactions with related parties
Included in debtors is an amount of £1,888,626 (2023: £1,737,868) owed by companies in which the directors have an interest.
Included in creditors is an amount of £174,896 (2023: £Nil) owed to companies in which the directors have an interest.
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).