Company registration number 10909646 (England and Wales)
MACKENZIE (STOKE RD NO 1) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
MACKENZIE (STOKE RD NO 1) LTD
CONTENTS
Page
Accountants' report
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 7
MACKENZIE (STOKE RD NO 1) LTD
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF MACKENZIE (STOKE RD NO 1) LTD
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mackenzie (Stoke Rd No 1) Ltd for the year ended 30 June 2024 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Mackenzie (Stoke Rd No 1) Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Mackenzie (Stoke Rd No 1) Ltd and state those matters that we have agreed to state to the Board of Directors of Mackenzie (Stoke Rd No 1) Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mackenzie (Stoke Rd No 1) Ltd and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Mackenzie (Stoke Rd No 1) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mackenzie (Stoke Rd No 1) Ltd. You consider that Mackenzie (Stoke Rd No 1) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Mackenzie (Stoke Rd No 1) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

MGR MAP Limited
19 March 2025
Chartered Accountants
55 Loudoun Road
St John's Wood
London
NW8 0DL
MACKENZIE (STOKE RD NO 1) LTD
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024
30 June 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,430,000
1,430,000
Investments
4
2
103
1,430,002
1,430,103
Current assets
Debtors
5
41,355,966
41,064,296
Cash at bank and in hand
1,004,893
1,005,982
42,360,859
42,070,278
Creditors: amounts falling due within one year
6
(1,777,447)
(5,656,849)
Net current assets
40,583,412
36,413,429
Total assets less current liabilities
42,013,414
37,843,532
Creditors: amounts falling due after more than one year
7
(30,265,200)
(30,505,400)
Net assets
11,748,214
7,338,132
Capital and reserves
Called up share capital
6,336,678
6,336,678
Profit and loss reserves
5,411,536
1,001,454
Total equity
11,748,214
7,338,132

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

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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

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

MACKENZIE (STOKE RD NO 1) LTD
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024
30 June 2024
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 19 March 2025
TS Sangha
Director
Company registration number 10909646 (England and Wales)
MACKENZIE (STOKE RD NO 1) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
1
Accounting policies
Company information

Mackenzie (Stoke Rd No 1) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 480 Bath Road, Slough, Berkshire, SL1 6BB.

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

Turnover represents management fees receivable.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land
No depreciation

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

MACKENZIE (STOKE RD NO 1) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -
1.7
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.

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.

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.

 

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

MACKENZIE (STOKE RD NO 1) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Tangible fixed assets
Land and buildings
£
Cost
At 1 July 2023 and 30 June 2024
1,430,000
Depreciation and impairment
At 1 July 2023 and 30 June 2024
-
0
Carrying amount
At 30 June 2024
1,430,000
At 30 June 2023
1,430,000
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
2
103
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 July 2023
103
Additions
1
Disposals
(102)
At 30 June 2024
2
Carrying amount
At 30 June 2024
2
At 30 June 2023
103
MACKENZIE (STOKE RD NO 1) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
51,606
42,458
Amounts owed by group undertakings
41,208,160
40,925,540
Other debtors
96,200
96,298
41,355,966
41,064,296
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
240,200
240,200
Trade creditors
290,998
290,863
Amounts owed to group undertakings
334,673
2,947,140
Other creditors
911,576
2,178,646
1,777,447
5,656,849
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
30,265,200
30,505,400
8
Parent company

The parent company of Mackenzie (Stoke Rd No 1) Ltd is HAAS Investments Limited, and its registered office is Fleetwood House, 480 Bath Road, Slough, SL1 6BB.

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