REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 29th June 2024 |
for |
Maclocums Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 29th June 2024 |
for |
Maclocums Ltd |
Maclocums Ltd (Registered number: 06627654) |
Contents of the Financial Statements |
for the Year Ended 29th June 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 2 |
Maclocums Ltd (Registered number: 06627654) |
Balance Sheet |
29th June 2024 |
29.6.24 | 29.6.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Non distributable reserves | 8 |
Retained earnings | 8 |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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 were approved by the director and authorised for issue on |
Maclocums Ltd (Registered number: 06627654) |
Notes to the Financial Statements |
for the Year Ended 29th June 2024 |
1. | COMPANY INFORMATION |
Maclocums Ltd is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Going concern |
On 28 December 2017 the director, Dr P Hoare, passed away and the medical services trade ceased. The Estate of Dr P Hoare continue to adopt the going concern basis of accounting in preparing the financial statements as the company has sufficient reserves to continue operating as an investment property company. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
Maclocums Ltd (Registered number: 06627654) |
Notes to the Financial Statements - continued |
for the Year Ended 29th June 2024 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 30th June 2023 |
Impairments | (7,000 | ) |
At 29th June 2024 |
NET BOOK VALUE |
At 29th June 2024 |
At 29th June 2023 |
Investment property comprises of one residential property. In accordance with FRS102 1A, the costs of obtaining an external valuation were considered to be undue for the company. As such, fair value has been estimated in reference to market evidence of transaction prices of similar properties. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.6.24 | 29.6.23 |
£ | £ |
Trade debtors |
Other debtors |
Directors' current accounts | 14,868 | 14,868 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.6.24 | 29.6.23 |
£ | £ |
Corporation tax payable |
Other creditors |
Accrued expenses |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 29.6.24 | 29.6.23 |
value: | £ | £ |
Ordinary A | £1 | 60 | 60 |
Ordinary B | £1 | 60 | 60 |
120 | 120 |
On the 28 December 2017 the 60 Ordinary A £1 shares and 60 Ordinary B £1 shares were transferred to the Executors of the Estate of Dr P Hoare. |
The Ordinary A shares confer on the holder the right to vote upon any resolution proposed at any general meeting of the company. |
The Ordinary B shares do not confer on the holder the right to vote upon any of the resolutions proposed at any general meeting of the company. |
The Ordinary A and Ordinary B shares rank pari passu in respect of dividend and capital distribution rights. |
Maclocums Ltd (Registered number: 06627654) |
Notes to the Financial Statements - continued |
for the Year Ended 29th June 2024 |
8. | RESERVES |
Non |
Retained | distributable |
earnings | reserves | Totals |
£ | £ | £ |
At 30th June 2023 | 655,210 |
Deficit for the year | ( |
) | - | ( |
) |
At 29th June 2024 | 654,135 |
9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 29th June 2024 and 29th June 2023: |
29.6.24 | 29.6.23 |
£ | £ |
P Hoare (deceased) |
Balance outstanding at start of year | 14,868 | 14,868 |
Amounts repaid | - | - |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | 14,868 | 14,868 |
10. | CONTROL |
The ultimate controlling party are The Estate of Dr P Hoare by virtue of their holding of 100% of the voting share capital. |