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REGISTERED NUMBER: 02636979 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

MCDONALD KING LIMITED

MCDONALD KING LIMITED (REGISTERED NUMBER: 02636979)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MCDONALD KING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Mrs M McDonald
Mr S R McDonald





REGISTERED OFFICE: 356 Alwoodley Lane
Leeds
West Yorkshire
LS17 7DN





REGISTERED NUMBER: 02636979 (England and Wales)





ACCOUNTANTS: Temporal Lennon & Company Limited
Chartered Accountants
Suite 1
1 The Crescent
Adel
Leeds
West Yorkshire
LS16 6AA

MCDONALD KING LIMITED (REGISTERED NUMBER: 02636979)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 62,816 3,512
Investment property 5 13,765,000 13,210,000
13,827,816 13,213,512

CURRENT ASSETS
Debtors 6 416,585 569,941
Cash at bank and in hand 598,108 886,954
1,014,693 1,456,895
CREDITORS
Amounts falling due within one year 7 674,054 841,187
NET CURRENT ASSETS 340,639 615,708
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,168,455

13,829,220

PROVISIONS FOR LIABILITIES 924,431 701,320
NET ASSETS 13,244,024 13,127,900

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 8 6,722,961 5,924,839
Retained earnings 6,521,061 7,203,059
SHAREHOLDERS' FUNDS 13,244,024 13,127,900

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

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 21 February 2025 and were signed on its behalf by:





Mr S R McDonald - Director


MCDONALD KING LIMITED (REGISTERED NUMBER: 02636979)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

McDonald King 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.

Turnover
Turnover represents rents receivable together with electricity and insurance recharges, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on 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.

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 year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 September 2023 875 27,269 28,144
Additions - 80,404 80,404
Disposals - (12,124 ) (12,124 )
At 31 August 2024 875 95,549 96,424
DEPRECIATION
At 1 September 2023 219 24,413 24,632
Charge for year 164 20,775 20,939
Eliminated on disposal - (11,963 ) (11,963 )
At 31 August 2024 383 33,225 33,608
NET BOOK VALUE
At 31 August 2024 492 62,324 62,816
At 31 August 2023 656 2,856 3,512

MCDONALD KING LIMITED (REGISTERED NUMBER: 02636979)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023 13,210,000
Disposals (340,000 )
Revaluations 895,000
At 31 August 2024 13,765,000
NET BOOK VALUE
At 31 August 2024 13,765,000
At 31 August 2023 13,210,000

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2024 7,609,528
Cost 6,155,472
13,765,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 393,971 481,674
Other debtors 22,614 88,267
416,585 569,941

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 1,082 1,405
Taxation and social security 175,251 277,666
Other creditors 497,721 562,116
674,054 841,187

8. RESERVES
Fair
value
reserve
£   
At 1 September 2023 5,924,839
Increase in valuation of investment
properties

798,122


At 31 August 2024 6,722,961

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs M McDonald.