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REGISTERED NUMBER: 11990147 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MAY 2024

FOR

MCVI PROPERTY LIMITED

MCVI PROPERTY LIMITED (REGISTERED NUMBER: 11990147)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MCVI PROPERTY LIMITED

COMPANY INFORMATION
for the Year Ended 30 May 2024







DIRECTOR: M S Massarella





REGISTERED OFFICE: Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF





REGISTERED NUMBER: 11990147 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

MCVI PROPERTY LIMITED (REGISTERED NUMBER: 11990147)

BALANCE SHEET
30 May 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Investment property 4 511,275 511,275

CURRENT ASSETS
Debtors 5 1,064 518
Cash at bank 5,630 85,520
6,694 86,038
CREDITORS
Amounts falling due within one year 6 254,589 243,927
NET CURRENT LIABILITIES (247,895 ) (157,889 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

263,380

353,386

CREDITORS
Amounts falling due after more than one year 7 378,223 378,224
NET LIABILITIES (114,843 ) (24,838 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (114,844 ) (24,839 )
SHAREHOLDERS' FUNDS (114,843 ) (24,838 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 May 2024 in accordance with Section 476 of the Companies Act 2006.

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.

MCVI PROPERTY LIMITED (REGISTERED NUMBER: 11990147)

BALANCE SHEET - continued
30 May 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 May 2025 and were signed by:





M S Massarella - Director


MCVI PROPERTY LIMITED (REGISTERED NUMBER: 11990147)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 May 2024


1. STATUTORY INFORMATION

MCVI Property Limited is a private company limited by shares and incorporated and domiciled in England. It has its registered office at Beckside Court, Annie Reed Road, Beverley, East Yorkshire, HU17 0LF.

The principal activity of the company is operating of owned real estate.

The presentational currency of the financial statements is Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the director, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The director, having taken into the factors discussed above as well as the uncertainties of the current economic environment, has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

The company has a net asset deficit of £114,843 as at 31 May 2024. Included within creditors is a balance owed to the family trust of £67,604.

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from the sale of goods is recognised at the point of sale.

Sales are recognised at the point which the company has fulfilled its contractual obligations and the risks and rewards attached to the product, have been transferred to the customer.

Investment property
Investment property is included at fair value. Movement in fair value is recognised in the income statement. Deferred taxation is provided on these gains/losses at the rate expected to apply when the property is sold.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


MCVI PROPERTY LIMITED (REGISTERED NUMBER: 11990147)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 May 2024


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 31 May 2023
and 30 May 2024 511,275
NET BOOK VALUE
At 30 May 2024 511,275
At 30 May 2023 511,275

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 300 300
Other debtors 764 218
1,064 518

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 706 684
Other creditors 253,883 243,243
254,589 243,927

MCVI PROPERTY LIMITED (REGISTERED NUMBER: 11990147)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 May 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 378,223 378,224

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 378,163 378,165