Mactex Properties (2004) Limited - Accounts to registrar (filleted) - small 18.2

Mactex Properties (2004) Limited - Accounts to registrar (filleted) - small 18.2

MACTEX PROPERTIES (2004) LIMITED - Company Information

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REGISTERED NUMBER: 05216245 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30th September 2018

for

Mactex Properties (2004) Limited
Mactex Properties (2004) Limited (Registered number: 05216245)






Contents of the Financial Statements
for the Year Ended 30th September 2018




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Mactex Properties (2004) Limited

Company Information
for the Year Ended 30th September 2018







DIRECTORS: Mrs S Davies
J Davies
A J Davies





SECRETARY: Mrs S Davies





REGISTERED OFFICE: Unit 6A Bridge Street Mill
Bridge Street
Macclesfield
Cheshire
SK11 6QA





REGISTERED NUMBER: 05216245 (England and Wales)
Page 1
Mactex Properties (2004) Limited (Registered number: 05216245)

Abridged Balance Sheet
30th September 2018

30/9/18 30/9/17
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,367 14,474
Investment property 5 2,750,000 2,750,000
2,762,367 2,764,474

CURRENT ASSETS
Debtors 4,763 9,274
Cash at bank 1,086 21,716
5,849 30,990
CREDITORS
Amounts falling due within one year 1,337,562 1,386,009
NET CURRENT LIABILITIES (1,331,713 ) (1,355,019 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,430,654
1,409,455

CREDITORS
Amounts falling due after more than one
year
6
870,900
870,900
NET ASSETS 559,754 538,555

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 8 345,762 345,762
Retained earnings 213,991 192,792
SHAREHOLDERS' FUNDS 559,754 538,555

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2018 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 notes form part of these financial statements

Page 2 continued...
Mactex Properties (2004) Limited (Registered number: 05216245)

Abridged Balance Sheet - continued
30th September 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30th September 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 13th May 2019 and were signed on its behalf by:





A J Davies - Director


The notes form part of these financial statements

Page 3
Mactex Properties (2004) Limited (Registered number: 05216245)

Notes to the Financial Statements
for the Year Ended 30th September 2018

1. STATUTORY INFORMATION

Mactex Properties (2004) 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts
receivable for goods supplied and services rendered stated net of discounts and of Value Added Tax.

Income is recognized when goods have been delivered to customers such that risks and rewards of ownership
have transferred to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 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.

Investment properties are revalued annually at open market value. Surpluses or deficits on individual properties
are transferred to the revaluation reserve.

Depreciation is not provided in respect of freehold investment properties.

The directors consider that this accounting policy which represents a departure from the statutory accounting
rules, is necessary to provide a true and fair view as required under the Financial Reporting Standard for Smaller
Entities (effective 2008). The effect of the departure from the statutory accounting rules shown in the notes to the
financial statements.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank
loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest,
and subsequently at amortised cost using the effective interest method.

Directors loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted
amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective
evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the
statement of income and Retained Earnings.


Page 4 continued...
Mactex Properties (2004) Limited (Registered number: 05216245)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2018

2. ACCOUNTING POLICIES - continued
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 NIL (2017 - 2 ).

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st October 2017 44,642
Additions 2,016
At 30th September 2018 46,658
DEPRECIATION
At 1st October 2017 30,168
Charge for year 4,123
At 30th September 2018 34,291
NET BOOK VALUE
At 30th September 2018 12,367
At 30th September 2017 14,474

Page 5 continued...
Mactex Properties (2004) Limited (Registered number: 05216245)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2018

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st October 2017
and 30th September 2018 2,750,000
NET BOOK VALUE
At 30th September 2018 2,750,000
At 30th September 2017 2,750,000

Fair value at 30th September 2018 is represented by:

£   
Valuation in 2012 150,000
Valuation in 2017 250,000
Cost 2,350,000
2,750,000

Investment property was valued on an open market basis on 18th May 2012 by Bruton Knowles, Property Consultants
.

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
30/9/18 30/9/17
£    £   
Repayable by instalments
Other loans more 5yrs instal 858,826 858,826

7. SECURED DEBTS

The following secured debts are included within creditors:

30/9/18 30/9/17
£    £   
Other loans 870,900 870,900

8. RESERVES
Fair
value
reserve
£   
At 1st October 2017
and 30th September 2018 345,762

Page 6