MCPA Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08406131

Unaudited Financial Statements

for the Year Ended 28 February 2019

for

MCPA Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Director's Responsibilities Statement

6

Independent Chartered Accountants' Review Report

7

DIRECTOR:

M C Cherry

REGISTERED OFFICE:

2 Castle Business Village

Station Road

Hampton

Middlesex

TW12 2BX

REGISTERED NUMBER:

08406131

ACCOUNTANTS:

PB Associates

Chartered Accountants and Chartered Tax Advisers

2 Castle Business Village

Station Road

Hampton

Middlesex

TW12 2BX

FIXED ASSETS

Investments

2

704

704

CURRENT ASSETS

Stocks

79,909

1,253,510

Debtors

3

20,208,882

12,360,660

Investments

4

14,967,800

11,632,115

Cash at bank

8,902,459

100,950

44,159,050

25,347,235

CREDITORS

Amounts falling due within one year

5

6,459,811

7,550,701

NET CURRENT ASSETS

37,699,239

17,796,534

TOTAL ASSETS LESS CURRENT LIABILITIES

37,699,943

17,797,238

CAPITAL AND RESERVES

Called up share capital

7

100

100

Revaluation reserve

8

638,078

901,552

Retained earnings

8

37,061,765

16,895,586

SHAREHOLDERS' FUNDS

37,699,943

17,797,238

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 21 November 2019 and were signed by:

M C Cherry - Director

1.	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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

2.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 March 2018

and 28 February 2019

704

NET BOOK VALUE

At 28 February 2019

704

At 28 February 2018

704

3.

DEBTORS

28.2.19

28.2.18

£

£

Amounts falling due within one year:

Other debtors

10,218,966

352,991

28.2.19

28.2.18

£

£

Amounts falling due after more than one year:

Amounts owed by group undertakings

3,415,076

3,697,214

Other debtors

6,574,840

8,310,455

9,989,916

12,007,669

Aggregate amounts

20,208,882

12,360,660

Other debtors include amounts due from related parties totalling £6,574,840. Please refer to note on related

parties for more details.

Other debtors includes a balance due from the directors in the sum of £10,173,380. The company charged the

director interest at the rate of 2.75% on the outstanding balance. The company has also accounted for s455

taxation on the balance.

4.	CURRENT ASSET INVESTMENTS

28.2.19

28.2.18

£

£

Listed investments

14,967,800

11,632,115

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.19

28.2.18

£

£

Bank loans and overdrafts

4,031,081

7,473,238

Trade creditors

2

13,259

Amounts owed to group undertakings

7,847

-

Taxation and social security

2,403,881

56,820

Other creditors

17,000

7,384

6,459,811

7,550,701

6.	SECURED DEBTS

The bank loan is secured by a fixed charge dated 10 November 2015 against the investment portfolio, which is

managed by the lending bank.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.19

28.2.18

value:

£

£

100

Ordinary

£1

100

100

8.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 March 2018

16,895,586

901,552

17,797,138

Profit for the year

20,386,179

20,386,179

Dividends

(220,000

)

(220,000

)

Listed investments

-

(263,474

)

(263,474

)

At 28 February 2019

37,061,765

638,078

37,699,843

9.	RELATED PARTY DISCLOSURES

At the balance sheet date the company had loans repayable to it from the following related parties:

MCPA (I) Limited a company controlled by C P Anthony owed (£52,000)

MCPA (II) Limited a company controlled by M C Cherry owed £6,478,440

Caraeno Limited a company controlled by C P Anthony and M C Cherry owed £148,400.

At the balance sheet date the company had loans repayable to it from the following group companies:

MCPA Estates Limited £3,297,287

MCPA (Stratford Central) Limited (£7,847)

MCPA (Strato 1) Limited £17,829

MCPA (Strato 2) Limited £91,423

MCPA Trinity Limited £8,527

The following reproduces the text of the report prepared for the director and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

I confirm that as a director I have met my duty in accordance with the Companies Act 2006 to:

-	ensure that the company has kept proper accounting records;

-	prepare financial statements which give a true and fair view of the state of affairs of the company as at 28 February 2019 and of its profit for that period in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	follow the applicable accounting policies, subject to any material departures disclosed and explained in the notes to the financial statements.

M C Cherry - Director

21 November 2019

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

We have reviewed the financial statements of MCPA Limited for the year ended 28 February 2019, which comprise the Income Statement, Balance Sheet and the related notes 1 to 0. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

This report is made solely to the company's director in accordance with our terms of engagement. Our review has been undertaken so that we might state to the director those matters that we have agreed with him in our engagement letter 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 the company's director for our work, for this report or the conclusions we have formed.

Director's responsibility for the financial statements

As explained more fully in the Director's Responsibilities Statement set out on page nil, the director is responsible for

the preparation of the financial statements and for being satisfied that they give a true and fair view.

Accountants' responsibility

Our responsibility is to express a conclusion based on our review of the financial statements. We conducted our review

in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review

historical financial statements' and ICAEW Technical Release TECH 09/13AAF 'Assurance review engagements on

historical financial statements'. ISRE 2400 also requires us to comply with the ICAEW Code of Ethics.

Scope of the assurance review

A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have

performed additional procedures to those required under a compilation engagement. These primarily consist of making

enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the

evidence obtained. The procedures performed in a review are substantially less than those performed in an audit

conducted in accordance with International Standards on Auditing (UK and Ireland). Accordingly, we do not express an

audit opinion on these financial statements.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:

-	so as to give a true and fair view of the state of the company's affairs as at 28 February 2019 and of its profit for the year then ended;

-	in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	in accordance with the requirements of the Companies Act 2006.

PB Associates

Chartered Accountants and Chartered Tax Advisers

2 Castle Business Village

Station Road

Hampton

Middlesex

TW12 2BX

Date: .............................................