Company Registration No. 05128247 (England and Wales)
M C C Properties Newcastle Limited
Unaudited accounts
for the year ended 31 January 2025
M C C Properties Newcastle Limited
Unaudited accounts
Contents
M C C Properties Newcastle Limited
Statement of financial position
as at 31 January 2025
Investment property
3,500,000
1,800,000
Investments
125,309
125,309
Debtors
3,302,490
3,313,704
Cash at bank and in hand
5,165
2,259
Creditors: amounts falling due within one year
(123,018)
(123,018)
Net current assets
3,184,637
3,192,945
Total assets less current liabilities
6,809,950
5,118,258
Provisions for liabilities
Deferred tax
(793,000)
(368,000)
Net assets
6,016,950
4,750,258
Called up share capital
1,000
1,000
Fair value reserve
2,478,327
1,203,327
Profit and loss account
3,537,623
3,545,931
Shareholders' funds
6,016,950
4,750,258
For the year ending 31 January 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 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 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 of Directors and authorised for issue on 25 August 2025 and were signed on its behalf by
Michael Charles Clippingdale
Director
Company Registration No. 05128247
M C C Properties Newcastle Limited
Notes to the Accounts
for the year ended 31 January 2025
M C C Properties Newcastle Limited is a private company, limited by shares, registered in England and Wales, registration number 05128247. The registered office is c/o Nicholson & Morgan, Solicitors, 14 Bell Villas, Ponteland, Newcastle upon Tyne, NE20 9BE.
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.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts on the basis that the group of which this is the parent qualifies as a small group. The accounts present information about the company as an individual entity and not about its group.
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:
Land & buildings
2% on cost of buildings or lease term if less. 0% on land.
Plant & machinery
20% on cost
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 and on investment property revaluation surpluses. 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.
Investments in subsidiaries and unlisted securities are measured at cost.
Investment property, which is properly held to earn rentals and/or capital appreciation, is included at market fair value. The surplus or deficit on revaluation or sale is recognised in the income statement.
Deferred taxation is provided on any surpluses at the rate expected to apply when the property is sold.
Where market value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.
M C C Properties Newcastle Limited
Notes to the Accounts
for the year ended 31 January 2025
4
Tangible fixed assets
Plant & machinery
Fair value at 1 February 2024
1,800,000
Net gain from fair value adjustments
1,700,000
At 31 January 2025
3,500,000
Investment property comprises land at Brock Lane, West Sleekburn, Northumberland. The fair value of the investment property has been arrived at on the basis of an open market revaluation carried out by Lambert Smith Hampton, Chartered Surveyors, who are not connected with the company, in October 2024. The directors are of the opinion that the open market valuation has not materially changed between October 2024 and the year-end.
The gain on revaluation, less deferred tax, has been recognised in the Income Statement for the years ended 31 January 2023 and 31 January 2025 and transferred to a non-distributable fair value reserve.
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Investments
Subsidiary undertakings
Other investments
Total
Valuation at 1 February 2024
101
125,208
125,309
Valuation at 31 January 2025
101
125,208
125,309
This represents:
- 100 £1 ordinary shares in WSN Properties Limited, a wholly owned subsidiary.
- 1 £1 ordinary share in MCC Lintzford Mill Limited, a wholly owned subsidiary.
- 125,208 £1 B ordinary shares in MCC Developments Newcastle Limited. The shares carry no rights; they do not have an entitlement to dividends, are not entitled to appoint or remove directors and are only entitled to repayment of the par value of the shares in the event of a winding-up.
M C C Properties Newcastle Limited
Notes to the Accounts
for the year ended 31 January 2025
Amounts falling due within one year
Amounts due from group undertakings etc.
2,613,310
2,624,524
Other debtors
688,710
688,710
8
Creditors: amounts falling due within one year
2025
2024
Trade creditors
36,944
36,944
Other creditors
79,274
79,274
9
Deferred taxation
2025
2024
Revaluation of land and buildings
793,000
368,000
Provision at start of year
368,000
368,000
Charged to the profit and loss account
425,000
-
Provision at end of year
793,000
368,000
Allotted, called up and fully paid:
1,000 "A" ordinary shares of £1 each
1,000
1,000
M C C Properties Newcastle Limited
Notes to the Accounts
for the year ended 31 January 2025
11
Transactions with related parties
During the year the company received £11,214 from a wholly owned subsidiary company, in part repayment of a loan. At the year-end, the outstanding balance on the loan, which is interest free and has no fixed repayment date, was £2,283,526.
During the year the company received £5,000 in respect of rent on behalf of a wholly owned subsidiary company.
At the year-end, the company was owed £329,784 (2024: £329,784) from a wholly owned subsidiary company. The loan is interest free and has no fixed repayment date.
At the year-end, the company was owed £387,230 (2024: £387,230) from a company under the control of key management personnel. The loan is interest free and has no fixed repayment date.
At the year-end, the company was owed £301,480 (2024: £301,480) from a company under the control of key management personnel. The loan is interest free and has no fixed repayment date.
At the year-end, the company owed £65,321 (2024: £65,321) to a company under the control of key management personnel. The loan is interest free and has no fixed repayment date.
At the year-end, the company owed £13,953 (2024: £13,953) to a company under the control of key management personnel. The loan is interest free and has no fixed repayment date.
During the year the company paid £4,132 in equity dividends to shareholders.
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Average number of employees
During the year the average number of employees was 4 (2024: 4).