Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-301falsetrue2023-07-01falseNo description of principal activity1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10496304 2023-07-01 2024-06-30 10496304 2022-07-01 2023-06-30 10496304 2024-06-30 10496304 2023-06-30 10496304 c:Director1 2023-07-01 2024-06-30 10496304 d:FurnitureFittings 2023-07-01 2024-06-30 10496304 d:FurnitureFittings 2024-06-30 10496304 d:FurnitureFittings 2023-06-30 10496304 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10496304 d:OfficeEquipment 2023-07-01 2024-06-30 10496304 d:CurrentFinancialInstruments 2024-06-30 10496304 d:CurrentFinancialInstruments 2023-06-30 10496304 d:Non-currentFinancialInstruments 2024-06-30 10496304 d:Non-currentFinancialInstruments 2023-06-30 10496304 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 10496304 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 10496304 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 10496304 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 10496304 d:ShareCapital 2024-06-30 10496304 d:ShareCapital 2023-06-30 10496304 d:RetainedEarningsAccumulatedLosses 2024-06-30 10496304 d:RetainedEarningsAccumulatedLosses 2023-06-30 10496304 d:OtherDeferredTax 2024-06-30 10496304 d:OtherDeferredTax 2023-06-30 10496304 c:FRS102 2023-07-01 2024-06-30 10496304 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 10496304 c:FullAccounts 2023-07-01 2024-06-30 10496304 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10496304 4 2023-07-01 2024-06-30 10496304 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 10496304









MEGACLOSE FAMILY HOLDINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
MEGACLOSE FAMILY HOLDINGS LIMITED
REGISTERED NUMBER: 10496304

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
3,772
2,538

Investments
  
16,895,000
16,895,000

  
16,898,772
16,897,538

Current assets
  

Debtors: amounts falling due within one year
 6 
1,426,692
1,629,538

Cash at bank and in hand
  
376,524
979,353

  
1,803,216
2,608,891

Current liabilities
  

Creditors: Amounts Falling Due Within One Year
 7 
(6,854,531)
(7,627,664)

Net current liabilities
  
 
 
(5,051,315)
 
 
(5,018,773)

Total assets less current liabilities
  
11,847,457
11,878,765

Creditors: amounts falling due after more than one year
 8 
(8,226,411)
(8,238,510)

Provisions for liabilities
  

Deferred tax
 9 
(2,087,225)
(688,637)

  
 
 
(2,087,225)
 
 
(688,637)

Net assets
  
1,533,821
2,951,618


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
1,532,821
2,950,618

  
1,533,821
2,951,618


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Page 1

 
MEGACLOSE FAMILY HOLDINGS LIMITED
REGISTERED NUMBER: 10496304
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024


The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 June 2025.

M. Kanev - Lipinski
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
MEGACLOSE FAMILY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Megaclose Family Holdings Limited is a private company limited by shares and registered in England and Wales. The address of the registered office and principal place of business is 120 North Sherwood Street, Nottingham, England, NG1 4EF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Currency

The company's functional and presentational currency is GBP.

 
2.3

Revenue

Revenue comprises rental income derived from the company's investment properties.

 
2.4

Borrowing costs

All borrowing costs are recognised in the Statement of Income and Retained Earnings in the year in which they are incurred.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings.
The current 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 income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

 
2.6

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

Page 3

 
MEGACLOSE FAMILY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Office equipment
-
33%
per annum straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

 
2.9

Debtors

Debtors are measured at transaction price, less any impairment. 

 
2.10

Creditors

Creditors are measured at the transaction price. 

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 4

 
MEGACLOSE FAMILY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 July 2023
5,206


Additions
3,426



At 30 June 2024

8,632



Depreciation


At 1 July 2023
2,668


Charge for the year on owned assets
2,192



At 30 June 2024

4,860



Net book value



At 30 June 2024
3,772



At 30 June 2023
2,538


5.


Investment properties


2024
2023
£
£



Valuation
16,895,000
16,895,000

At 30 June 2024
16,895,000
16,895,000




The investment properties have been valued by the director at their open market values. 

Page 5

 
MEGACLOSE FAMILY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Debtors

2024
2023
£
£


Trade debtors
97,176
26,555

Other debtors
1,300,000
1,560,613

Prepayments
29,516
42,370

1,426,692
1,629,538



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans and overdrafts
9,124
120,272

Trade creditors
21,487
9,263

Other taxation and social security
81,710
106,055

Other creditors
6,538,773
7,206,540

Accruals and deferred income
203,437
185,534

6,854,531
7,627,664


The following liabilities were secured:

2024
2023
£
£



Bank loans and overdrafts
-
108,733

-
108,733

Details of security provided:

There is a fixed and floating charge in favour of Lloyds Bank PLC.

Page 6

 
MEGACLOSE FAMILY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
8,226,411
8,238,510

8,226,411
8,238,510


The following liabilities were secured:

2024
2023
£
£



Bank loans
8,216,172
8,218,510

8,216,172
8,218,510

Details of security provided:

There is a fixed and floating charge in favour of Lloyds Bank PLC.


9.


Deferred taxation




2024


£






At beginning of year
(688,637)


Charged to profit or loss
(1,398,588)



At end of year
(2,087,225)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Unrealised gains on investment properties
(2,087,225)
(688,637)

(2,087,225)
(688,637)

Page 7

 
MEGACLOSE FAMILY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Related party transactions

At the financial year end, the director was owed £6,533,898 (2023 : £7,198,235). No interest is charged.
Included in other debtors is a loan outstanding from the director's former husband in the sum of £1,300,000 (2023 £1,427,620). Interest is charged at 8.5% per annum. During the year, the sum of £237,456 was written off as irrecoverable.

 
Page 8