| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| FOR |
| MCHARDY PROPERTY HOLDINGS LTD |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| FOR |
| MCHARDY PROPERTY HOLDINGS LTD |
| MCHARDY PROPERTY HOLDINGS LTD (REGISTERED NUMBER: 08287171) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| MCHARDY PROPERTY HOLDINGS LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| DIRECTORS: |
| SECRETARIES: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 2nd Floor |
| Medway Bridge House |
| 1-8 Fairmeadow |
| Maidstone |
| Kent |
| ME14 1JP |
| MCHARDY PROPERTY HOLDINGS LTD (REGISTERED NUMBER: 08287171) |
| BALANCE SHEET |
| 31 OCTOBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| MCHARDY PROPERTY HOLDINGS LTD (REGISTERED NUMBER: 08287171) |
| BALANCE SHEET - continued |
| 31 OCTOBER 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| MCHARDY PROPERTY HOLDINGS LTD (REGISTERED NUMBER: 08287171) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 1. | STATUTORY INFORMATION |
| Mchardy Property Holdings Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| Accounting standards require the directors to consider the appropriateness of the going concern basis when preparing the financial statements. The directors confirm that they consider that the going concern basis remains appropriate. The directors believe that the company has sufficient resources to continue in operational existence for the foreseeable future. The directors believe this to be the case as the company has positive reserves, cash balances and sufficient resources to meet its liabilities as they fall due. |
| Thus, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Tangible fixed assets |
| Freehold property | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 or receivable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| 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. |
| MCHARDY PROPERTY HOLDINGS LTD (REGISTERED NUMBER: 08287171) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Debtors |
| Short term debtors are measured at transaction price, less any impairment. |
| Cash and cash equivalents |
| Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with no significant risk of change in value. |
| Financial instruments |
| The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
| Creditors |
| Short term creditors are measured at the transaction price. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Land and |
| buildings |
| £ |
| Cost |
| At 1 November 2023 |
| and 31 October 2024 |
| Net book value |
| At 31 October 2024 |
| At 31 October 2023 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertaking |
| £ |
| Cost |
| At 1 November 2023 |
| and 31 October 2024 |
| Net book value |
| At 31 October 2024 |
| At 31 October 2023 |
| MCHARDY PROPERTY HOLDINGS LTD (REGISTERED NUMBER: 08287171) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 5. | FIXED ASSET INVESTMENTS - continued |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Registered office: Unit 35 Lordswood Industrial Estate, Gleamingwood Drive, Chatham, Kent, United Kingdom, ME5 8RZ |
| Nature of business: |
| % |
| Class of shares: | holding |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| Fair value |
| At 1 November 2023 |
| and 31 October 2024 |
| Net book value |
| At 31 October 2024 |
| At 31 October 2023 |
| The properties were revalued by professional third party valuers CB Property Brokers, Estate Agent, in March 2023. The directors do not believe their value would have changed in the period to October 2024. |
| Fair value at 31 October 2021 is represented by: | £ |
| Cost | 1,084,031 |
| Valuation in 2017 | 271,914 |
| Valuation in 2019 | (25,000 | ) |
| Disposal in 2020 | (490,000 | ) |
| Valuation in 2021 | 18,055 |
| Valuation in 2023 | (100,000 | ) |
| 759,000 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Taxation and social security |
| Other creditors |