McCarthy Property Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05882723

Unaudited Financial Statements for the Year Ended 30 September 2018

for

McCarthy Property Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K D McCarthy

Mrs J L McCarthy

SECRETARY:

Mrs J L McCarthy

REGISTERED OFFICE:

The Small House

Siston Court

Siston Lane

Bristol

BS16 9LU

REGISTERED NUMBER:

05882723

ACCOUNTANTS:

P B Accountancy Ltd

17 Duckmoor Road

Ashton

Bristol

BS3 2DD

FIXED ASSETS

Tangible assets

4

17,152

27,252

Investment property

5

1,623,275

1,623,275

1,640,427

1,650,527

CURRENT ASSETS

Debtors

6

40,915

44,279

Cash at bank

104,454

172,940

145,369

217,219

CREDITORS

Amounts falling due within one year

7

414,922

542,409

NET CURRENT LIABILITIES

(269,553

)

(325,190

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,370,874

1,325,337

CREDITORS

Amounts falling due after more than one year

8

909,000

901,126

NET ASSETS

461,874

424,211

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

461,774

424,111

SHAREHOLDERS' FUNDS

461,874

424,211

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 16 May 2019 and were signed on its behalf by:

K D McCarthy - Director

Mrs J L McCarthy - Director

1.	STATUTORY INFORMATION

McCarthy Property Services Limited is a private company, limited by shares , registered in Not specified/Other.

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.

Turnover

Turnover represents the rental income receivable for the year.

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 etc

-

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2017

78,544

Disposals

(22,914

)

At 30 September 2018

55,630

DEPRECIATION

At 1 October 2017

51,292

Charge for year

5,716

Eliminated on disposal

(18,530

)

At 30 September 2018

38,478

NET BOOK VALUE

At 30 September 2018

17,152

At 30 September 2017

27,252

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2017

and 30 September 2018

1,623,275

NET BOOK VALUE

At 30 September 2018

1,623,275

At 30 September 2017

1,623,275

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.18

30.9.17

£

£

Trade debtors

40,915

44,279

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.18

30.9.17

£

£

Bank loans and overdrafts

-

254,820

Hire purchase contracts

5,534

8,301

Trade creditors

48,057

55,558

Taxation and social security

16,809

28,687

Other creditors

344,522

195,043

414,922

542,409

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.18

30.9.17

£

£

Bank loans

909,000

895,592

Hire purchase contracts

-

5,534

909,000

901,126

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.18

30.9.17

£

£

Bank loans

909,000

1,150,412

The bank loans are secured by a charge over the property owned by the company and over assets owned

personally by the Director.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2018 and

30 September 2017:

30.9.18

30.9.17

£

£

K D McCarthy and Mrs J L McCarthy

Balance outstanding at start of year

(192,543

)

(207,751

)

Amounts advanced

45,521

15,208

Amounts repaid

(195,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(342,022

)

(192,543

)