MacDuff Properties Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 09074161 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2025

for

MacDuff Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S S Duffy

L McNaughton

REGISTERED OFFICE:

Lake House

Market Hill

Royston

Hertfordshire

SG8 9JN

BUSINESS ADDRESS:

Bear House

Gravelly Lane

Braughing

Ware

SG11 2RL

REGISTERED NUMBER:

09074161 (England and Wales)

ACCOUNTANTS:

Hardcastle Burton LLP

Lake House

Market Hill

Royston

Hertfordshire

SG8 9JN

FIXED ASSETS

Tangible assets

4

33,625

41,070

Investment property

5

6,500,000

6,533,625

6,541,070

CURRENT ASSETS

Debtors

6

19,703

334,165

Cash at bank

9,209

56,717

28,912

390,882

CREDITORS

Amounts falling due within one year

7

2,200,221

1,285,161

NET CURRENT LIABILITIES

(2,171,309

)

(894,279

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,362,316

5,646,791

CREDITORS

Amounts falling due after more than one
year

8

-

(1,500,307

)

PROVISIONS FOR LIABILITIES

10

(468,749

)

(470,611

)

NET ASSETS

3,893,567

3,675,873

CAPITAL AND RESERVES

Called up share capital

11

100

Revaluation reserve

12

1,381,029

1,409,657

Retained earnings

2,512,438

2,266,116

SHAREHOLDERS' FUNDS

3,893,567

3,675,873

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2025 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 November 2025 and were signed on its behalf by:

L McNaughton - Director

1.	STATUTORY INFORMATION

MacDuff Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The directors are satisfied that the company has adequate cash resources in order to pay all of its creditors as they fall due for the foreseeable future and for at least 12 months from the date of signing of these financial statements. The directors consider it is appropriate to prepare the accounts on the going concern basis despite the balance sheet reporting net liabilities of £2,153,894 (2024: £894,279).

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions which impact on the reported amounts of assets and liabilities. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Investment property valuation has been identified as a significant estimate. The valuation of investment properties is undertaken by Directors. The valuation was made on an open market value basis by reference to market data.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Other operating income relates to rental income which is recognised over the period of tenancy.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

COST

At 1 September 2024

3,625

22,093

26,795

-

52,513

Additions

-

1,980

At 31 August 2025

3,625

22,093

26,795

1,980

54,493

DEPRECIATION

At 1 September 2024

1,445

4,418

5,580

-

11,443

Charge for year

436

3,535

5,304

150

9,425

At 31 August 2025

1,881

7,953

10,884

150

20,868

NET BOOK VALUE

At 31 August 2025

1,744

14,140

15,911

1,830

33,625

At 31 August 2024

2,180

17,675

21,215

-

41,070

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2024

and 31 August 2025

6,500,000

NET BOOK VALUE

At 31 August 2025

6,500,000

At 31 August 2024

6,500,000

Fair value at 31 August 2025 is represented by:

£

Valuation in 2020

8,310

Valuation in 2022

1,570,000

Valuation in 2023

300,000

Cost

4,621,690

6,500,000

If investment properties had not been revalued they would have been included at the following historical cost:

31.8.25

31.8.24

£

Cost

4,621,690

All investment properties were valued on an open market basis on 31 August 2025 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

Trade debtors

-

288,898

Other debtors

-

45,267

Prepayments and accrued income

19,703

-

19,703

334,165

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

Bank loans and overdrafts

-

353,949

Trade creditors

21,815

56,439

Tax

80,466

74,776

Social security and other taxes

1,111

19,151

VAT

25,178

79,346

Other creditors

3,075

-

Directors' loan accounts

2,064,576

570,000

Accruals and deferred income

4,000

131,500

2,200,221

1,285,161

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.8.25

31.8.24

£

Bank loans - 1-2 years

-

353,352

Bank loans - 2-5 years

-

1,028,427

Bank loans > 5 years

-

118,528

-

1,500,307

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.25

31.8.24

£

Bank loans

-

1,854,256

The bank borrowings are secured by legal charge over property owned by the company and by a debenture over the assets of MacDuff Properties Limited.The bank loan was fully repaid on the 1st September 2024.

10.	PROVISIONS FOR LIABILITIES

31.8.25

31.8.24

£

Deferred tax

Accelerated capital allowances

8,406

10,268

Other timing differences

460,343

468,749

470,611

Deferred

tax

£

Balance at 1 September 2024

470,611

Accelerated capital allowances

(1,862

)

Balance at 31 August 2025

468,749

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.25

31.8.24

value:

£

100

Ordinary

£1

100

12.

RESERVES

Revaluation

reserve

£

At 1 September 2024

1,409,657

Transfer

(28,628

)

At 31 August 2025

1,381,029

13.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £1,727 (2024 - NIL). The pension contributions outstanding at the year end were £484 (2024 - £Nil).

14.	ULTIMATE CONTROLLING PARTY

The directors consider that there is no overall controlling party.