Company Registration No. 10427746 (England and Wales)
MCGO PROPERTIES LTD
Unaudited accounts
for the year ended 31 March 2025
MCGO PROPERTIES LTD
Unaudited accounts
Contents
MCGO PROPERTIES LTD
Company Information
for the year ended 31 March 2025
Company Number
10427746 (England and Wales)
Registered Office
5 Hawkhurst Gardens
Romford
RM5 3LT
ENGLAND
Accountants
Trimantic Accountants
1 Victor House
Barnet Road
London Colney
AL2 1BJ
MCGO PROPERTIES LTD
Statement of financial position
as at 31 March 2025
Tangible assets
13,772
15,345
Investment property
5,815,000
5,330,907
Cash at bank and in hand
6,155
3,976
Creditors: amounts falling due within one year
(1,133,296)
(313,164)
Net current liabilities
(1,123,806)
(302,454)
Total assets less current liabilities
4,704,966
5,043,798
Creditors: amounts falling due after more than one year
(2,181,759)
(2,544,390)
Provisions for liabilities
Deferred tax
(88,287)
(78,837)
Net assets
2,434,920
2,420,571
Called up share capital
102
102
Share premium
2,056,700
2,056,700
Profit and loss account
378,118
363,769
Shareholders' funds
2,434,920
2,420,571
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 August 2025 and were signed on its behalf by
Mrs D McGowan
Director
Company Registration No. 10427746
MCGO PROPERTIES LTD
Notes to the Accounts
for the year ended 31 March 2025
MCGO PROPERTIES LTD is a private company, limited by shares, registered in England and Wales, registration number 10427746. The registered office is 5 Hawkhurst Gardens, Romford, RM5 3LT, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
3 years straight line
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
MCGO PROPERTIES LTD
Notes to the Accounts
for the year ended 31 March 2025
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2024
19,000
119
-
19,119
At 31 March 2025
19,000
119
7,198
26,317
At 1 April 2024
3,694
80
-
3,774
Charge for the year
6,333
39
2,399
8,771
At 31 March 2025
10,027
119
2,399
12,545
At 31 March 2025
8,973
-
4,799
13,772
At 31 March 2024
15,306
39
-
15,345
Fair value at 1 April 2024
5,330,907
Net gain from fair value adjustments
49,470
At 31 March 2025
5,815,000
Investment properties were valued by mortgage providers and estate agents operating in the vicinity of the investment properties in March 2022. The revalued amounts were recorded in the Profit & Loss account. Deferred taxation was recognised on the revaluation gains.
Included within retained earnings is £464,293 of non-distributable reserves arising from the revaluation of investment properties.
Amounts falling due within one year
Accrued income and prepayments
3,764
2,734
7
Creditors: amounts falling due within one year
2025
2024
Trade creditors
5,922
8,049
Taxes and social security
-
796
Other creditors
20,792
14,424
Loans from directors
1,106,582
289,895
MCGO PROPERTIES LTD
Notes to the Accounts
for the year ended 31 March 2025
8
Creditors: amounts falling due after more than one year
2025
2024
Bank loans
2,181,759
2,544,390
9
Average number of employees
During the year the average number of employees was 3 (2024: 3).