REGISTERED NUMBER: SC775257 (Scotland)

MC PROP LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 AUGUST 2024 TO 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Dr M R MacDonald

C L K MacDonald

REGISTERED OFFICE:

Blairholm

Cuninghill Road

Inverurie

AB51 3TS

REGISTERED NUMBER:

SC775257 (Scotland)

ACCOUNTANTS:

Benham Conway & Co

16 Royal Crescent

Glasgow

G3 7SL

FIXED ASSETS

Investments

4

180,430

117,327

CURRENT ASSETS

Cash at bank

1,764

-

CREDITORS

Amounts falling due within one year

5

119,433

119,998

NET CURRENT LIABILITIES

(117,669

)

(119,998

)

TOTAL ASSETS LESS CURRENT LIABILITIES

62,761

(2,671

)

PROVISIONS FOR LIABILITIES

15,613

-

NET ASSETS/(LIABILITIES)

47,148

(2,671

)

CAPITAL AND RESERVES

Called up share capital

2

2

Fair value reserve

46,838

-

Retained earnings

308

(2,673

)

SHAREHOLDERS' FUNDS

47,148

(2,671

)

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 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 10 July 2026 and were signed on its behalf by:

Dr M R MacDonald - Director

1.	STATUTORY INFORMATION

MC Prop Ltd is a private company, limited by shares , registered in Scotland. 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.

Taxation

Taxation for the period 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 period 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.

Fixed asset investments

The fixed asset investment represents the company's interest in a property investment partnership.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2024 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Unlisted

Investments

£

COST OR VALUATION

At 1 August 2024

117,327

Share of profit

4,181

Drawings

(3,529

)

Revaluations

62,451

At 31 March 2025

180,430

NET BOOK VALUE

At 31 March 2025

180,430

At 31 July 2024

117,327

The unlisted investment comprises an interest in a property investment partnership.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.7.24

£

£

Directors' loan account

118,653

119,998

Other creditors

780

-

119,433

119,998

6.	RELATED PARTY DISCLOSURES

At 31 March 2025 the company's directors had provided the company with an interest free loan of £118,653 (31 July 2024, £119,998). There are no fixed repayment terms for this loan.