MUC Capital Limited 14646106 false 2023-02-07 2024-02-28 2024-02-28 The principal activity of the company is the rental of residential property. Digita Accounts Production Advanced 6.30.9574.0 true false true 14646106 2023-02-07 2024-02-28 14646106 2024-02-28 14646106 core:CurrentFinancialInstruments 2024-02-28 14646106 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-28 14646106 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-28 14646106 core:MoreThanFiveYears 2 2024-02-28 14646106 core:FurnitureFittings 2024-02-28 14646106 1 2024-02-28 14646106 bus:SmallEntities 2023-02-07 2024-02-28 14646106 bus:AuditExemptWithAccountantsReport 2023-02-07 2024-02-28 14646106 bus:FilletedAccounts 2023-02-07 2024-02-28 14646106 bus:SmallCompaniesRegimeForAccounts 2023-02-07 2024-02-28 14646106 bus:RegisteredOffice 2023-02-07 2024-02-28 14646106 bus:Director1 2023-02-07 2024-02-28 14646106 bus:PrivateLimitedCompanyLtd 2023-02-07 2024-02-28 14646106 core:FurnitureFittings 2023-02-07 2024-02-28 14646106 1 2023-02-07 2024-02-28 14646106 countries:EnglandWales 2023-02-07 2024-02-28 14646106 1 2023-02-07 2024-02-28 14646106 1 2023-02-06 iso4217:GBP xbrli:pure

Registration number: 14646106

MUC Capital Limited

Unaudited Filleted Financial Statements

for the Period from 7 February 2023 to 28 February 2024

 

MUC Capital Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 7

 

MUC Capital Limited

(Registration number: 14646106)
Statement of Financial Position as at 28 February 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

7,801

Investment property

5

3,910,576

 

3,918,377

Current assets

 

Debtors

6

560

Cash at bank and in hand

 

108,912

 

109,472

Creditors: Amounts falling due within one year

7

(133,083)

Net current liabilities

 

(23,611)

Total assets less current liabilities

 

3,894,766

Creditors: Amounts falling due after more than one year

7

(4,007,853)

Net liabilities

 

(113,087)

Capital and reserves

 

Called up share capital

1

Profit and loss account

(113,088)

Shareholders' deficit

 

(113,087)

For the financial period ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 7 March 2025
 


U S Pfeiffer
Director

 

MUC Capital Limited

Notes to the Unaudited Financial Statements for the Period from 7 February 2023 to 28 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
C/O Westcotts
Plym House, 3 Longbridge Road
Marsh Mills
Plymouth
Devon
PL6 8LT

Principal activity

The principal activity of the company is the rental of residential property.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis which assumed that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on continued support from the company's director and parent company.

If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet value of the assets to their recoverable amounts, and to provide for further liabilities that might arise, and to reclassify fixed assets as current assets.

The director believes that it is appropriate for the financial statements to be prepared on the going concern basis.

 

MUC Capital Limited

Notes to the Unaudited Financial Statements for the Period from 7 February 2023 to 28 February 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the total rents received or receivable in the ordinary course of the company’s activities. Turnover is shown net of returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

MUC Capital Limited

Notes to the Unaudited Financial Statements for the Period from 7 February 2023 to 28 February 2024 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

 

MUC Capital Limited

Notes to the Unaudited Financial Statements for the Period from 7 February 2023 to 28 February 2024 (continued)

4

Tangible assets

Furniture, fixtures and fittings
£

Total
£

Cost or valuation

Additions

9,751

9,751

At 28 February 2024

9,751

9,751

Depreciation

Charge for the period

1,950

1,950

At 28 February 2024

1,950

1,950

Carrying amount

At 28 February 2024

7,801

7,801

5

Investment properties

2024
£

Additions

3,910,576

At 28 February

3,910,576

6

Debtors

2024
£

Other debtors

1

Prepayments

559

560

 

MUC Capital Limited

Notes to the Unaudited Financial Statements for the Period from 7 February 2023 to 28 February 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

2024
£

Amounts owed to parent company

125,554

Accruals and deferred income

2,400

Other creditors

5,129

133,083

Creditors: amounts falling due after more than one year

2024
£

Amounts owed to parent company

4,007,853

2024
£

Due after more than five years

After more than five years not by instalments

4,007,853

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

MUC Capital Limited

Notes to the Unaudited Financial Statements for the Period from 7 February 2023 to 28 February 2024 (continued)

9

Related party transactions

Transactions with the director

During the year the director entered into the following advances and credits with the company:

2024

At 7 February 2023
£

Advances to director
£

Repayments by director
£

At 28 February 2024
£

Director

-

45

(90)

(45)

         
       

 

10

Parent and ultimate parent undertaking

The company's immediate parent is Isar Valley Capital GmbH, incorporated in Germany.

  These financial statements are available upon request from Fliederweg 2a, 82031 Grünwald, Germany.