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REGISTERED NUMBER: 05687659 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

MCP PROPERTIES (U.K) LTD

MCP PROPERTIES (U.K) LTD (REGISTERED NUMBER: 05687659)

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










Page

Balance sheet 1

Notes to the financial statements 2


MCP PROPERTIES (U.K) LTD (REGISTERED NUMBER: 05687659)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Investment property 4 1,010,000 1,010,000

Current assets
Debtors 5 5,549 6,327
Cash at bank 1,877 4,824
7,426 11,151
Creditors
Amounts falling due within one year 6 288,124 267,185
Net current liabilities (280,698 ) (256,034 )
Total assets less current liabilities 729,302 753,966

Creditors
Amounts falling due after more than one year 7 (117,500 ) (162,500 )

Provisions for liabilities 8 (98,475 ) (98,475 )
Net assets 513,327 492,991

Capital and reserves
Called up share capital 9 4 4
Fair value reserve 10 295,425 295,425
Retained earnings 217,898 197,562
Shareholders' funds 513,327 492,991

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 March 2025 and were signed on its behalf by:



Mr S P McKay - Director


MCP PROPERTIES (U.K) LTD (REGISTERED NUMBER: 05687659)

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


1. Statutory information

Broomco (4001) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 05687659. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and the business address is Unit 7, 11-15 Francis Avenue, Bournemouth, Dorset, BH11 8NX.

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 rental income, excluding Value Added Tax, recognised on a receivable basis

Investment property
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in other comprehensive income.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 1 ) .

MCP PROPERTIES (U.K) LTD (REGISTERED NUMBER: 05687659)

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


4. Investment property
Total
£   
Fair value
At 1 August 2023
and 31 July 2024 1,010,000
Net book value
At 31 July 2024 1,010,000
At 31 July 2023 1,010,000

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2012 (58,775 )
Valuation in 2021 28,549
Valuation in 2022 424,126
Cost 616,100
1,010,000

Investment property was valued on an open market basis on 31 July 2024 by the directors .

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 1,000 1,000
Other debtors - 1,000
Prepayments and accrued income 4,549 4,327
5,549 6,327

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors - 7,200
Tax 6,575 5,603
VAT 950 950
Other creditors 225,258 198,185
Directors' current accounts 53,326 53,326
Accruals and deferred income 2,015 1,921
288,124 267,185

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Other creditors 117,500 162,500

8. Provisions for liabilities
2024 2023
£    £   
Deferred tax 98,475 98,475

MCP PROPERTIES (U.K) LTD (REGISTERED NUMBER: 05687659)

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


8. Provisions for liabilities - continued

Deferred
tax
£   
Balance at 1 August 2023 98,475
Balance at 31 July 2024 98,475

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 "A" Ordinary shares £1 2 2
2 "B" Ordinary shares £1 2 2
4 4

10. Reserves
Fair
value
reserve
£   
At 1 August 2023
and 31 July 2024 295,425

11. Ultimate controlling party

The company is under the control of the Director, by virtue of his 100% holding of the issued voting share capital of the company.