Registration number: 05270881
Prepared for the registrar
for the
Year Ended 30 September 2024
MC336 Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
MC336 Limited
Company Information
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Directors |
Dr N C Trilk M P Urquhart |
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Registered office |
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Solicitors |
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Bankers |
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Accountants |
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MC336 Limited
(Registration number: 05270881)
Balance Sheet as at 30 September 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Investment property |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Revaluation reserve |
398 |
398 |
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Retained earnings |
971 |
932 |
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Shareholders' funds |
1,369 |
1,330 |
For the financial 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.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime of the Companies Act 2006 and in accordance with FRS 102 Section 1A Small Entities.
These financial statements have been 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
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MC336 Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' effective January 2016 and has taken advantage of the small company exemptions available in section 1A of FRS 102 to produce reduced disclosure accounts.
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable under a property lease. Turnover is shown net of value added tax.
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 and deferred 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.
MC336 Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
The current corporation 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.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Investment property
The investment property is a freehold property. It is held for long term investment and is revalued annually by the directors. Any revaluation surplus or deficit is transferred to the revaluation reserve unless a deficit on the investment property is expected to be permanent, in which case it is charged straight to the profit and loss account.
Depreciation is only one of many factors reflected in the annual valuation of the property and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified.
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.
Dividends
Dividend distributions to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Financial instruments
Classification
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Taxation |
Tax charged/(credited) in the profit and loss account
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2024 |
2023 |
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Current taxation |
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UK corporation tax |
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MC336 Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
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Investment properties |
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2024 |
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At 1 October 2023 and 30 September 2024 |
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The property was revalued in the year ended 30 September 2018 by an independent qualified third party.
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Creditors |
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2024 |
2023 |
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Due within one year |
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Amounts due to related parties |
532 |
550 |
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Taxation and social security |
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Accruals and deferred income |
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Deferred tax |
Deferred tax assets and liabilities
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2024 |
Liability |
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On revaluation of property |
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2023 |
Liability |
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On revaluation of property |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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1 |
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1 |
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Parent undertaking |
The company's parent is Brightborough Holdings Limited, a company incorporated in England and Wales.