Company Registration No. 05252868 (England and Wales)
M C C Developments Newcastle Limited
Unaudited accounts
for the year ended 31 December 2024
M C C Developments Newcastle Limited
Unaudited accounts
Contents
M C C Developments Newcastle Limited
Statement of financial position
as at 31 December 2024
Investment property
230,000
710,000
Cash at bank and in hand
64,816
20,769
Creditors: amounts falling due within one year
(48,677)
(163,869)
Net current assets/(liabilities)
522,443
(143,100)
Total assets less current liabilities
752,443
566,900
Creditors: amounts falling due after more than one year
-
(31,766)
Provisions for liabilities
Deferred tax
(21,000)
(21,000)
Net assets
731,443
514,134
Called up share capital
126,208
126,208
Fair value reserve
83,756
83,756
Profit and loss account
521,479
304,170
Shareholders' funds
731,443
514,134
For the year ending 31 December 2024 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 18 September 2025 and were signed on its behalf by
Clare Dawn McCluskey
Director
Company Registration No. 05252868
M C C Developments Newcastle Limited
Notes to the Accounts
for the year ended 31 December 2024
M C C Developments Newcastle Limited is a private company, limited by shares, registered in England and Wales, registration number 05252868. The registered office is 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 as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
Fair value at 1 January 2024
710,000
At 31 December 2024
230,000
Investment property comprises land at Crown Road, Sunderland. The fair value of the investment property has been arrived at on the basis of a valuation carried out by Lambert Smith Hampton, Chartered Surveyors, who are not connected with the company, on 4 May 2023. The directors are of the opinion that the open market value has not materially changed between the date of the valuation and 31 December 2024.
The gain on revaluation, less deferred tax, has been transferred to a fair value reserve.
During the year the company sold land and buildings situated at Freeman Way, North Seaton Industrial Estate, Northumberland.
M C C Developments Newcastle Limited
Notes to the Accounts
for the year ended 31 December 2024
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
31,767
Taxes and social security
5,189
7,175
Other creditors
8,742
77,939
Deferred income
1,698
15,911
7
Creditors: amounts falling due after more than one year
2024
2023
8
Deferred taxation
2024
2023
Revaluation of land and buildings
21,000
21,000
Provision at start of year
21,000
21,000
Provision at end of year
21,000
21,000
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
125,208 B Ordinary shares (which carry no rights to dividends or to appoint or remove directors) of £1 each
125,208
125,208
10
Transactions with related parties
During the year the company repaid loans totalling £70,581 from a company under the control of an investor in the company and made loans to that company totalling £506,304. The loan, which is interest-free and has no fixed repayment date, is disclosed under debtors, amounts falling due within one year.
M C C Developments Newcastle Limited
Notes to the Accounts
for the year ended 31 December 2024
11
Average number of employees
During the year the average number of employees was 2 (2023: 3).