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 353,480 353,480 353,480 xbrli:pure xbrli:shares iso4217:GBP SC586543 2023-10-01 2024-09-30 SC586543 2024-09-30 SC586543 2023-09-30 SC586543 2022-10-01 2023-09-30 SC586543 2023-09-30 SC586543 2022-09-30 SC586543 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 SC586543 bus:Director1 2023-10-01 2024-09-30 SC586543 core:WithinOneYear 2024-09-30 SC586543 core:WithinOneYear 2023-09-30 SC586543 core:ShareCapital 2024-09-30 SC586543 core:ShareCapital 2023-09-30 SC586543 core:RetainedEarningsAccumulatedLosses 2024-09-30 SC586543 core:RetainedEarningsAccumulatedLosses 2023-09-30 SC586543 core:LandBuildings core:OwnedOrFreeholdAssets 2024-09-30 SC586543 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-30 SC586543 bus:SmallEntities 2023-10-01 2024-09-30 SC586543 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 SC586543 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 SC586543 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 SC586543 bus:FullAccounts 2023-10-01 2024-09-30 SC586543 bus:OrdinaryShareClass1 2024-09-30 SC586543 bus:OrdinaryShareClass1 2023-09-30
COMPANY REGISTRATION NUMBER: SC586543
MCL Estates (Ventures) Limited
Filleted Unaudited Financial Statements
For the year ended
30 September 2024
MCL Estates (Ventures) Limited
Financial Statements
Year ended 30 September 2024
Contents
Pages
Statement of financial position
1
Notes to the financial statements
2 to 4
MCL Estates (Ventures) Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
353,480
353,480
Current assets
Debtors
6
83
Cash at bank and in hand
481,074
17,542
---------
--------
481,074
17,625
Creditors: amounts falling due within one year
7
230,993
93,206
---------
--------
Net current assets/(liabilities)
250,081
( 75,581)
---------
---------
Total assets less current liabilities
603,561
277,899
---------
---------
Capital and reserves
Called up share capital
8
100
100
Profit and loss account
603,461
277,799
---------
---------
Shareholder funds
603,561
277,899
---------
---------
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 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 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: SC586543
MCL Estates (Ventures) 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 Maidencraig House, 192 Queensferry Road, Edinburgh, EH4 2BN, Scotland.
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. 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 has a 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.
Revenue recognition
Revenue from rental income is recognised in the period in which the service is provided. Revenue from consultancy work carried out in relation to the sale of land is recognised in the period to which it relates.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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 Investment property Investment properties have been held at cost in line with fair value, which the director has determined by reference to similar properties in comparable locations.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments 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. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: Nil).
5. Tangible assets
Freehold property
£
Cost
At 1 October 2023 and 30 September 2024
353,480
---------
Depreciation
At 1 October 2023 and 30 September 2024
---------
Carrying amount
At 30 September 2024
353,480
---------
At 30 September 2023
353,480
---------
6. Debtors
2024
2023
£
£
Other debtors
83
----
----
7. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
86,220
Corporation tax
108,554
1,489
Social security and other taxes
116,657
Other creditors
5,782
5,497
---------
--------
230,993
93,206
---------
--------
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. Related party transactions
As at 30 September 2024 Nil (2023: £86,220) was due to MCL Estates Ltd. There are no fixed terms of repayment and no interest is charged.