Macess Properties Limited - Accounts to registrar (filleted) - small 18.2

Macess Properties Limited - Accounts to registrar (filleted) - small 18.2

MACESS PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 01296046 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2022

FOR

MACESS PROPERTIES LIMITED
MACESS PROPERTIES LIMITED (REGISTERED NUMBER: 01296046)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2022




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


MACESS PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2022







DIRECTORS: P G Everson
Mrs E A Everson





SECRETARY: Mrs E A Everson





REGISTERED OFFICE: 5 Dalesway
Guiseley
Leeds
West Yorkshire
LS20 8JN





REGISTERED NUMBER: 01296046 (England and Wales)





ACCOUNTANTS: Smith Turner Chartered Accountants
Unit 7, Courtyard 31
Pontefract Road
Normanton
WF6 1JU
Page 1
MACESS PROPERTIES LIMITED (REGISTERED NUMBER: 01296046)

BALANCE SHEET
31ST MARCH 2022

31/3/22 31/3/21
Notes £    £   
FIXED ASSETS
Investments 4 166 166
Investment property 5 685,000 777,000
685,166 777,166

CURRENT ASSETS
Debtors 6 2,562 3,361
Cash at bank 141,793 39,390
144,355 42,751
CREDITORS
Amounts falling due within one year 7 (4,830 ) (76,225 )
NET CURRENT ASSETS/(LIABILITIES) 139,525 (33,474 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
824,691
743,692

PROVISIONS FOR LIABILITIES (37,891 ) (18,253 )
NET ASSETS 786,800 725,439

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 182,076 174,792
Retained earnings 604,624 550,547
786,800 725,439

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 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...
MACESS PROPERTIES LIMITED (REGISTERED NUMBER: 01296046)

BALANCE SHEET - continued
31ST MARCH 2022


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 and authorised for issue on 21st November 2022 and were signed on its behalf by:





P G Everson - Director


The notes form part of these financial statements

Page 3
MACESS PROPERTIES LIMITED (REGISTERED NUMBER: 01296046)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2022

1. STATUTORY INFORMATION

Macess Properties 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1st April 2021
and 31st March 2022 166
NET BOOK VALUE
At 31st March 2022 166
At 31st March 2021 166

Page 4 continued...
MACESS PROPERTIES LIMITED (REGISTERED NUMBER: 01296046)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2022

4. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31st March 2022 is represented by:

Other
investments
£   
Valuation in 2016 349
Valuation in 2017 2,183
Valuation in 2018 (2,248 )
Valuation in 2019 (5 )
Valuation in 2020 (113 )
166

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2021 777,000
Disposals (175,000 )
Revaluations 105,000
Impairments (22,000 )
At 31st March 2022 685,000
NET BOOK VALUE
At 31st March 2022 685,000
At 31st March 2021 777,000

Fair value at 31st March 2022 is represented by:
£   
Valuation in 2020 114,967
Valuation in 2022 105,000
Cost 465,033
685,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/22 31/3/21
£    £   
Trade debtors 1,507 1,606
Other debtors 1,055 1,755
2,562 3,361

Page 5 continued...
MACESS PROPERTIES LIMITED (REGISTERED NUMBER: 01296046)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/22 31/3/21
£    £   
Taxation and social security 2,373 3,824
Other creditors 2,457 72,401
4,830 76,225

8. RESERVES
Fair
value
reserve
£   
At 1st April 2021 174,792
Revaluation adjustment 105,000
Deferred tax (19,949 )
Transfer of realised profits (77,767 )

At 31st March 2022 182,076

9. RELATED PARTY DISCLOSURES

Included in creditors is an amount of £14 due to the directors of the company. No interest is being charged on the amount, and there are no fixed terms for repayment.

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