Company registration number SC158894 (Scotland)
MCANON LTD.
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
MCANON LTD.
COMPANY INFORMATION
Director
D I Spiro
Secretary
M Spiro
Company number
SC158894
Registered office
6th Floor
145 St Vincent Street
Glasgow
G2 5JF
Accountants
Grunberg & Co Ltd
5 Technology Park
Colindeep Lane
Colindale
London
United Kingdom
NW9 6BX
MCANON LTD.
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
MCANON LTD.
STATEMENT OF FINANCIAL POSITION
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
100
100
Net current assets
100
100
Capital and reserves
Called up share capital
100
100

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 24 March 2025
D I Spiro
Director
Company registration number SC158894 (Scotland)
MCANON LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

Mcanon Ltd. is a private company limited by shares incorporated in Scotland. The registered office is 6th Floor, 145 St Vincent Street, Glasgow, G2 5JF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

There was no income during the year under review as the company is now dormant.

1.3
Tangible fixed assets

The company has no tangible fixed assets.

No depreciation required

1.4
Cash and cash equivalents

There were no cash balances held by the company during the year under review.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

MCANON LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Taxation

During the year under review the company is did not become liable for corporation tax.

Current tax

No tax liabilities remain at the balance sheet date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
100
100
2024-06-302023-07-01trueCCH SoftwareCCH Accounts Production 2024.210No description of principal activityD I SpiroM SpirofalsefalseSC1588942023-07-012024-06-30SC158894bus:Director12023-07-012024-06-30SC158894bus:CompanySecretary12023-07-012024-06-30SC158894bus:RegisteredOffice2023-07-012024-06-30SC1588942024-06-30SC1588942023-06-30SC158894core:ShareCapital2024-06-30SC158894core:ShareCapital2023-06-30SC1588942022-07-012023-06-30SC158894core:CurrentFinancialInstruments2024-06-30SC158894core:CurrentFinancialInstruments2023-06-30SC158894bus:EntityNoLongerTradingButTradedInPast2023-07-012024-06-30SC158894bus:PrivateLimitedCompanyLtd2023-07-012024-06-30SC158894bus:SmallCompaniesRegimeForAccounts2023-07-012024-06-30SC158894bus:FRS1022023-07-012024-06-30SC158894bus:AuditExempt-NoAccountantsReport2023-07-012024-06-30SC158894bus:FullAccounts2023-07-012024-06-30xbrli:purexbrli:sharesiso4217:GBP