1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 25,545 25,545 25,545 25,545 xbrli:pure xbrli:shares iso4217:GBP SC483144 2023-10-01 2024-09-30 SC483144 2024-09-30 SC483144 2023-09-30 SC483144 2022-10-01 2023-09-30 SC483144 2023-09-30 SC483144 2022-09-30 SC483144 core:MotorVehicles 2023-10-01 2024-09-30 SC483144 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 SC483144 bus:Director1 2023-10-01 2024-09-30 SC483144 core:MotorVehicles 2024-09-30 SC483144 core:WithinOneYear 2024-09-30 SC483144 core:WithinOneYear 2023-09-30 SC483144 core:AfterOneYear 2024-09-30 SC483144 core:AfterOneYear 2023-09-30 SC483144 core:ShareCapital 2024-09-30 SC483144 core:ShareCapital 2023-09-30 SC483144 core:RetainedEarningsAccumulatedLosses 2024-09-30 SC483144 core:RetainedEarningsAccumulatedLosses 2023-09-30 SC483144 core:CostValuation core:Non-currentFinancialInstruments 2024-09-30 SC483144 core:ImpairmentLossProvisionsForImpairmentInvestments core:Non-currentFinancialInstruments 2024-09-30 SC483144 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2024-09-30 SC483144 core:Non-currentFinancialInstruments 2023-09-30 SC483144 bus:SmallEntities 2023-10-01 2024-09-30 SC483144 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 SC483144 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 SC483144 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 SC483144 bus:FullAccounts 2023-10-01 2024-09-30 SC483144 bus:OrdinaryShareClass1 2024-09-30 SC483144 bus:OrdinaryShareClass1 2023-09-30 SC483144 core:OfficeEquipment 2023-10-01 2024-09-30 SC483144 core:OfficeEquipment 2023-09-30 SC483144 core:OfficeEquipment 2024-09-30
COMPANY REGISTRATION NUMBER: SC483144
MCL Estates Limited
Filleted Unaudited Financial Statements
For the year ended
30 September 2024
MCL Estates Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
90,787
4,584
Investments
6
25,545
--------
--------
90,787
30,129
Current assets
Debtors
7
9,108
88,129
Cash at bank and in hand
176,399
82,637
---------
---------
185,507
170,766
---------
---------
276,294
200,895
---------
---------
Capital, reserves and liabilities
Called up share capital
8
100
100
Profit and loss account
145,911
152,296
---------
---------
Shareholders funds
146,011
152,396
Provisions
Taxation including deferred tax
4,192
1,146
Creditors: amounts falling due within one year
9
49,440
37,353
Creditors: amounts falling due after more than one year
10
76,651
10,000
---------
---------
276,294
200,895
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 1 May 2025 , and are signed on behalf of the board by:
C M McLachlan
Director
Company registration number: SC483144
MCL Estates Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 192 Queensferry road, Edinburgh, Scotland, EH4 2BN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investments measured at fair value through profit or loss. 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. The director has assessed the Company's ability to continue as a going concern and have reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus he continues to adopt the going concern basis of accounting in preparing these financial statements.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. For an expense to be capitalised, it will have a minimum value of £1,000.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
20% straight line
Office Equipment
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
A financial asset or liability is recognised only when the company becomes a party to the contractual provisions of the financial instrument. A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial assets, which include trade and other debtors and cash, 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. Basic financial liabilities, which include trade and other creditors, 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. At each reporting date the company assesses whether there is objective evidence that any financial asset has been impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due. The amount of the provision is recognised immediately in profit or loss.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 October 2023
9,113
9,113
Additions
90,269
1,150
91,419
--------
--------
---------
At 30 September 2024
90,269
10,263
100,532
--------
--------
---------
Depreciation
At 1 October 2023
4,529
4,529
Charge for the year
3,761
1,455
5,216
--------
--------
---------
At 30 September 2024
3,761
5,984
9,745
--------
--------
---------
Carrying amount
At 30 September 2024
86,508
4,279
90,787
--------
--------
---------
At 30 September 2023
4,584
4,584
--------
--------
---------
6. Investments
Other investments other than loans
£
Cost
At 1 October 2023 and 30 September 2024
25,545
--------
Impairment
At 1 October 2023
Impairment losses
25,545
--------
At 30 September 2024
25,545
--------
Carrying amount
At 30 September 2024
--------
At 30 September 2023
25,545
--------
The company owns 25% of the issued share capital of ASIC Land Limited. On 31 March 2025, the directors of ASIC Land Limited have applied companies house for the company to be striken off. The company directors have decided to fully impair the fixed asset investment.
7. Debtors
2024
2023
£
£
Trade debtors
8,940
Amounts owed by group undertakings and undertakings in which the company has a participating interest
87,790
Other debtors
168
339
-------
--------
9,108
88,129
-------
--------
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
9. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
6,000
6,000
Trade creditors
2,056
1,816
Corporation tax
27,810
23,882
Social security and other taxes
5,407
5,655
Other creditors
8,167
--------
--------
49,440
37,353
--------
--------
10. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
4,000
10,000
Other creditors
72,651
--------
--------
76,651
10,000
--------
--------
11. Related party transactions
Included in other debtors was a loan to MCL Estates (Ventures) Limited which has been repaid in the current financial year (2023: £86,220). MCL Estates (Ventures) Limited is also owned by C M Mclachlan.