MCG Property Limited iXBRL

Company Registration Number: NI643978

MCG Property Limited

Unaudited Financial Statements

for the financial year ended 28 February 2026

MCG Property Limited

DIRECTOR AND OTHER INFORMATION


Director	Brendan McGivern


Company Registration Number	NI643978


Registered Office and Business Address	2 Hightown Rise
	Newtonabbey
	Co Antrim
	BT36 7XA


Accountants	Quarter
	Chartered Accountants
	St Anne's House
	15 Church Street
	Cathedral Quarter
	Belfast
	BT1 1PG

MCG Property Limited

CHARTERED ACCOUNTANTS REPORT

to the Director on the Compilation of the unaudited financial statements of MCG Property Limited

for the financial year ended 28 February 2026

In accordance with the engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of the company for the financial year ended 28 February 2026 as set out on pages to which comprise the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.

This report is made solely to the director of MCG Property Limited, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company’s Director that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its director for our work or for this report.

We have carried out this engagement in accordance with guidance issued by Chartered Accountants Ireland and have complied with the relevant ethical guidance laid down by Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.

You have acknowledged on the Statement of Financial Position for the year ended 28 February 2026 your duty to ensure that MCG Property Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MCG Property Limited. You consider that MCG Property Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of MCG Property Limited. For this reason, we have not verified the adequacy, accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

__________________________________

QUARTER

Chartered Accountants

St Anne's House

15 Church Street

Cathedral Quarter

Belfast

BT1 1PG

24 August 2026

MCG Property Limited

Company Registration Number: NI643978

STATEMENT OF FINANCIAL POSITION

as at 28 February 2026

		2026	2025
	Notes	£	£

Non-Current Assets

Property, plant and equipment

1,401,453

1,389,283

─────────

Current Assets

Receivables

80,000

80,000

Cash and cash equivalents

4,837

27,122

─────────

84,837

107,122

─────────

Payables: amounts falling due within one year

(668,620)

(633,167)

─────────

Net Current Liabilities

(583,783)

(526,045)

─────────

Total Assets less Current Liabilities

817,670

863,238

Payables:

amounts falling due after more than one year

(729,660)

(785,328)

─────────

Net Assets

88,010

77,910

═════════

Equity

Called up share capital

100

100

Retained earnings

87,910

77,810

─────────

Equity attributable to owners of the company

88,010

77,910

═════════

The financial statements have been prepared 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 company has taken advantage of the exemption under section 444 not to file the Income Statement and Director's Report.

For the financial year ended 28 February 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Director and authorised for issue on 24 August 2026



________________________________
Brendan McGivern
Director

MCG Property Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 28 February 2026

General Information

MCG Property Limited is a company limited by shares incorporated in Northern Ireland. The registered office of the company is 2 Hightown Rise, Newtonabbey, Co Antrim, BT36 7XA which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the year ended 28 February 2026 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Investment properties

Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business.

Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Income Statement as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Income Statement.

Trade and other receivables

Trade and other receivables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Borrowing costs

Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Trade and other payables

Trade and other payables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the period and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

Employees

The average monthly number of employees, including director, during the financial year was 1, (2025 - 1).

2026

2025

Number

Number

Directors

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4.	Property, plant and equipment
		Investment	Total
		properties

		£	£
	Cost
	At 1 March 2025	1,389,283	1,389,283
	Additions	12,170	12,170
		─────────	─────────
	At 28 February 2026	1,401,453	1,401,453
		─────────	─────────
	Depreciation
	At 1 March 2025	-	-
		─────────	─────────
	At 28 February 2026	-	-
		─────────	─────────
	Carrying amount
	At 28 February 2026	1,401,453	1,401,453
		═════════	═════════
	At 28 February 2025	1,389,283	1,389,283
		═════════	═════════


5.	Receivables	2026	2025
		£	£

	Other debtors	80,000	80,000
		═════════	═════════


6.	Payables	2026	2025
	Amounts falling due within one year	£	£

	Bank loan	55,667	55,667
	Trade payables	42,500	-
	Amounts owed to group undertakings	88,962	78,962
	Taxation (Note 8)	2,890	3,558
	Director's current account	426,918	407,363
	Accruals and deferred income	51,683	87,617
		─────────	─────────
		668,620	633,167
		═════════	═════════


7.	Payables	2026	2025
	Amounts falling due after more than one year	£	£

	Bank loan	729,660	785,328
		═════════	═════════

	Loans
	Repayable in one year or less, or on demand (Note 6)	55,667	55,667
	Repayable between one and two years	55,667	55,667
	Repayable between two and five years	673,993	729,661
		─────────	─────────
		785,327	840,995
		═════════	═════════


8.	Taxation	2026	2025
		£	£

	Payables:
	VAT	1,001	3,558
	Corporation tax	1,889	-
		─────────	─────────
		2,890	3,558
		═════════	═════════

Capital commitments

The company had no material capital commitments at the financial year-ended 28 February 2026.

10.

Events After the End of the Reporting Period

There have been no significant events affecting the company since the financial year-end.