MCPA Limited - Accounts to registrar (filleted) - small 18.2
MCPA Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 28 February 2021 |
| for |
| MCPA Limited |
| MCPA Limited (Registered number: 08406131) |
| Contents of the Financial Statements |
| for the Year Ended 28 February 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| MCPA Limited |
| Company Information |
| for the Year Ended 28 February 2021 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants and Chartered Tax Advisers |
| 2 Castle Business Village |
| Station Road |
| Hampton |
| Middlesex |
| TW12 2BX |
| MCPA Limited (Registered number: 08406131) |
| Balance Sheet |
| 28 February 2021 |
| 28.2.21 | 29.2.20 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 3 |
| CURRENT ASSETS |
| Debtors | 4 |
| Investments | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Revaluation reserve | 9 |
| Capital redemption reserve | 9 |
| Retained earnings | 9 |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 |
| MCPA Limited (Registered number: 08406131) |
| Notes to the Financial Statements |
| for the Year Ended 28 February 2021 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| 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. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2020 - NIL). |
| 3. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 March 2020 |
| and 28 February 2021 |
| NET BOOK VALUE |
| At 28 February 2021 |
| At 29 February 2020 |
| MCPA Limited (Registered number: 08406131) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2021 |
| 4. | DEBTORS |
| 28.2.21 | 29.2.20 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Other debtors |
| Amounts falling due after more than one year: |
| Amounts owed by group undertakings |
| Other debtors |
| Aggregate amounts |
| Other debtors due within one year include directors loans in the sum of £140,208. The company has charged interest on the outstanding balance at 2.25%. The director repaid the loan on 10 May 2021. |
| Other debtors due after more than one year include amounts due from related parties totalling £8,427,928. Please refer to note on related parties for more details. |
| 5. | CURRENT ASSET INVESTMENTS |
| 28.2.21 | 29.2.20 |
| £ | £ |
| Listed investments | 10,177,151 | 9,457,494 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 28.2.21 | 29.2.20 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | 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. |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 28.2.21 | 29.2.20 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 50 |
| 50 Ordinary shares of £1 each were allotted and fully paid for |
| MCPA Limited (Registered number: 08406131) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2021 |
| 9. | RESERVES |
| Capital |
| Retained | Revaluation | redemption |
| earnings | reserve | reserve | Totals |
| £ | £ | £ | £ |
| At 1 March 2020 | 19,441,026 |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| Listed investments | - | 646,754 | - | 646,754 |
| At 28 February 2021 | 19,635,820 |
| 10. | RELATED PARTY DISCLOSURES |
| At the balance sheet date the company had loans repayable to it from the following related parties: |
| MCPA (II) Limited a company controlled by M C Cherry owed £6,967,223. |
| Caraeno Limited a company controlled by M C Cherry owed £1,498,790. |
| At the balance sheet date the company owed sums to the following related parties: |
| Aldenham Estates Limited a company controlled by M C Cherry was owed £38,085. |
| At the balance sheet date the company had loans repayable to it from the following group companies: |
| MCPA Estates Limited £3,348,022. |