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MCKENNA PROPERTY INVESTMENTS LTD

Registered Number
SC750992
(Scotland)

Unaudited Financial Statements for the Year ended
30 November 2024

MCKENNA PROPERTY INVESTMENTS LTD
Company Information
for the year from 1 December 2023 to 30 November 2024

Director

Lana McKenna

Registered Address

110 Eastwoodmains Road
Giffnock
Glasgow
G46 6PW

Registered Number

SC750992 (Scotland)
MCKENNA PROPERTY INVESTMENTS LTD
Balance Sheet as at
30 November 2024

Notes

2024

2023

£

£

£

£

ASSETS
Fixed assets
Tangible assets3480,81377,621
480,81377,621
Current assets
Cash at bank and in hand16319,789
16319,789
16319,789
480,97697,410
CAPITAL, RESERVES AND LIABILITIES
Capital and reserves
Called up share capital1(1)
Revaluation reserve17,000-
Profit and loss account(43,953)(4,130)
6(26,952)(4,131)
Liabilities
Creditors amounts falling due within one year4173,80852,873
Creditors amounts falling due after one year5334,12048,668
480,97697,410
The financial statements were approved and authorised for issue by the Director on 27 August 2025, and are signed on its behalf by:
Lana McKenna
Director
Registered Company No. SC750992
MCKENNA PROPERTY INVESTMENTS LTD
Notes to the Financial Statements
for the year ended 30 November 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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 of accounting in preparing its financial statements.
Revenue from rendering of services
Revenue represents rental income derived from the letting of residential properties and is recognized on a straight-line basis over the term of the lease in accordance with the terms of tenancy agreements.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Land & buildings

Total

££
Cost or valuation
At 01 December 2377,62177,621
Additions403,192403,192
At 30 November 24480,813480,813
Net book value
At 30 November 24480,813480,813
At 30 November 2377,62177,621
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,070-
Amounts owed to related parties172,73852,873
Total173,80852,873
This represents obligations of the company that are expected to be settled within twelve months of the reporting date. This typically includes: Trade Payables: This represents amounts due to suppliers for goods and services received, such as property maintenance, repairs, and utilities. The balances were settled subsequent to the year-end but prior to the approval of these financial statements. Amounts owed to Director: Short-term loans or advances from the director, or expenses paid by the director on behalf of the company, that are expected to be repaid within one year. The carrying amounts of creditors are considered to approximate their fair value due to their short-term nature.
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts334,12048,668
Total334,12048,668
This represents the long-term obligations of the company that are expected to be settled more than twelve months after the reporting date. This balance comprises mortgage loans secured against the company's investment properties, which are typically repayable over several years, with terms and interest rates as detailed in the respective loan agreements.
6.Revaluation reserve
The Revaluation Reserve in equity arises from the revaluation of the company's investment properties to their fair value. In accordance with FRS 102, any gains recognised on the revaluation of property are credited directly to this reserve, net of any related deferred tax. This reserve represents the unrealised increase in the value of these assets and is not distributable as dividends. It may be transferred to retained earnings when the revalued asset is derecognised or impaired.

£
Revaluations of plant, property and equipment17,000
At 30 November 2417,000
7.Related party transactions
At the reporting date, the company had outstanding loans due to its directors. These balances represent short-term advances and reimbursements of expenses paid by the directors on behalf of the company. These loans are unsecured, interest-free, and repayable on demand.