Mackenzie Developments (Warwickshire) - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09880017 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2019

FOR

MACKENZIE DEVELOPMENTS (WARWICKSHIRE)

LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Mackenzie

R Mackenzie

REGISTERED OFFICE:

1 & 2 Mercia Village

Torwood Close

Westwood Business Park

Coventry

West Midlands

CV4 8HX

REGISTERED NUMBER:

09880017 (England and Wales)

ACCOUNTANTS:

Armstrongs

Chartered Accountants and Tax Advisers

1 & 2 Mercia Village

Torwood Close

Westwood Business Park

Coventry

West Midlands

CV4 8HX

FIXED ASSETS

Tangible assets

4

2,194

11,901

Investments

5

1,366

1,256

3,560

13,157

CURRENT ASSETS

Debtors

6

2,433,514

1,711,288

Cash at bank and in hand

7,497

2,295

2,441,011

1,713,583

CREDITORS

Amounts falling due within one year

7

2,593,917

1,736,273

NET CURRENT LIABILITIES

(152,906

)

(22,690

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(149,346

)

(9,533

)

CREDITORS

Amounts falling due after more than one year

8

-

12,522

NET LIABILITIES

(149,346

)

(22,055

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(149,446

)

(22,155

)

SHAREHOLDERS' FUNDS

(149,346

)

(22,055

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2019 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 on 12 March 2020 and were signed on its behalf by:

P Mackenzie - Director

1.	STATUTORY INFORMATION

Mackenzie Developments (Warwickshire) Ltd 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.

Turnover

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

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 3 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 December 2018

and 30 November 2019

28,283

10,548

38,831

DEPRECIATION

At 1 December 2018

21,213

5,717

26,930

Charge for year

7,070

2,637

9,707

At 30 November 2019

28,283

8,354

36,637

NET BOOK VALUE

At 30 November 2019

-

2,194

2,194

At 30 November 2018

7,070

4,831

11,901

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 December 2018

1,256

Additions

110

At 30 November 2019

1,366

NET BOOK VALUE

At 30 November 2019

1,366

At 30 November 2018

1,256

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Wood Street (Leamington) Ltd

Registered office:

Nature of business: Development of building projects

%

Class of shares:

holding

Ordinary

72.00

The Hoo, Chipping Campden SPV Limited

Registered office:

Nature of business: Development of building projects

%

Class of shares:

holding

Ordinary

60.00

Land at The Warwickshire 1 SPV Limited

Registered office:

Nature of business: Development of building projects

%

Class of shares:

holding

Ordinary

50.00

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Amounts owed by group undertakings

1,622,466

1,628,159

Other debtors

804,225

1,000

R & J Mackenzie

6,765

78,765

VAT

58

789

Prepayments

-

2,575

2,433,514

1,711,288

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other loans

308,599

59,000

Hire purchase contracts

-

2,743

Trade creditors

1,069

1,678

Amounts owed to group undertakings

1,449,616

298,449

Corporation tax

20

20

Social security and other taxes

2,169

468

Other creditors

410,000

1,006,775

Pension

360

-

Net Wages

-

(1,687

)

Directors' current accounts

419,369

365,732

Accrued expenses

2,715

3,095

2,593,917

1,736,273

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts

-

12,522