Noco McGimpsey Properties Ltd 13468268 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is rental of investment property. Digita Accounts Production Advanced 6.30.9574.0 true 13468268 2023-07-01 2024-06-30 13468268 2024-06-30 13468268 core:CurrentFinancialInstruments 2024-06-30 13468268 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 13468268 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 13468268 core:FurnitureFittingsToolsEquipment 2024-06-30 13468268 bus:SmallEntities 2023-07-01 2024-06-30 13468268 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 13468268 bus:FilletedAccounts 2023-07-01 2024-06-30 13468268 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 13468268 bus:RegisteredOffice 2023-07-01 2024-06-30 13468268 bus:Director1 2023-07-01 2024-06-30 13468268 bus:Director2 2023-07-01 2024-06-30 13468268 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 13468268 bus:Agent1 2023-07-01 2024-06-30 13468268 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 13468268 core:OfficeEquipment 2023-07-01 2024-06-30 13468268 countries:UnitedKingdom 2023-07-01 2024-06-30 13468268 2023-06-30 13468268 2022-07-01 2023-06-30 13468268 2023-06-30 13468268 core:CurrentFinancialInstruments 2023-06-30 13468268 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 13468268 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 13468268

Noco McGimpsey Properties Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

image-name
 

Noco McGimpsey Properties Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Noco McGimpsey Properties Ltd

Company Information

Directors

Mr John McGimpsey

Mrs Mandy McGimpsey

Registered office

1 Hele Court
Caldecotte
Milton Keynes
Buckingshire
MK7 8HJ

Accountants

Michael J Emery & Co Limited
Chartered Accountants22 St. John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

 

Noco McGimpsey Properties Ltd

(Registration number: 13468268)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

483

-

Investment property

5

46,244

88,138

 

46,727

88,138

Current assets

 

Debtors

6

80,000

80,000

Cash at bank and in hand

 

67,403

10,799

 

147,403

90,799

Creditors: Amounts falling due within one year

7

(198,908)

(179,000)

Net current liabilities

 

(51,505)

(88,201)

Total assets less current liabilities

 

(4,778)

(63)

Creditors: Amounts falling due after more than one year

7

(861)

(861)

Net liabilities

 

(5,639)

(924)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(5,739)

(1,024)

Shareholders' deficit

 

(5,639)

(924)

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 June 2025 and signed on its behalf by:
 

 

Noco McGimpsey Properties Ltd

(Registration number: 13468268)
Balance Sheet as at 30 June 2024

.........................................
Mr John McGimpsey
Director

.........................................
Mrs Mandy McGimpsey
Director

 

Noco McGimpsey Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
1 Hele Court
Caldecotte
Milton Keynes
Buckingshire
MK7 8HJ
England

These financial statements were authorised for issue by the Board on 9 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Noco McGimpsey Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Noco McGimpsey Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

3

Staff numbers

The average number of persons employed by the company during the year, including directors, was 2 (2023 - 10).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

483

483

At 30 June 2024

483

483

Depreciation

Carrying amount

At 30 June 2024

483

483

5

Investment properties

2024
£

At 1 July

88,138

Disposals

(41,894)

At 30 June

46,244

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

2024
£

2023
£

Other debtors

80,000

80,000

 

80,000

80,000

 

Noco McGimpsey Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

3,580

-

Accruals and deferred income

600

15,000

Other creditors

194,728

164,000

198,908

179,000

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other non-current financial liabilities

861

861