Phillip Mcguire Investments Limited - Accounts to registrar (filleted) - small 18.2
Phillip Mcguire Investments Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 May 2021 |
| for |
| Phillip Mcguire Investments Limited |
| Phillip Mcguire Investments Limited (Registered number: 02844388) |
| Contents of the Financial Statements |
| for the Year Ended 31 May 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Phillip Mcguire Investments Limited |
| Company Information |
| for the Year Ended 31 May 2021 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 29 Howard Street |
| North Shields |
| Tyne and Wear |
| NE30 1AR |
| Phillip Mcguire Investments Limited (Registered number: 02844388) |
| Balance Sheet |
| 31 May 2021 |
| 31/5/21 | 31/5/20 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Undistributable reserve | 7 |
| Retained earnings | 7 |
| SHAREHOLDERS' FUNDS |
| Phillip Mcguire Investments Limited (Registered number: 02844388) |
| Balance Sheet - continued |
| 31 May 2021 |
| 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. |
| 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 and authorised for issue on |
| Phillip Mcguire Investments Limited (Registered number: 02844388) |
| Notes to the Financial Statements |
| for the Year Ended 31 May 2021 |
| 1. | STATUTORY INFORMATION |
| Phillip Mcguire Investments Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents income from the rental of investment properties. Income is recognised when the rent becomes due. |
| Tangible fixed assets |
| Land and buildings | - |
| 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 NIL (2020 - NIL). |
| Phillip Mcguire Investments Limited (Registered number: 02844388) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2021 |
| 4. | TANGIBLE FIXED ASSETS |
| Land and |
| buildings |
| £ |
| COST |
| At 1 June 2020 |
| and 31 May 2021 |
| DEPRECIATION |
| At 1 June 2020 |
| Charge for year |
| At 31 May 2021 |
| NET BOOK VALUE |
| At 31 May 2021 |
| At 31 May 2020 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 June 2020 |
| and 31 May 2021 |
| NET BOOK VALUE |
| At 31 May 2021 |
| At 31 May 2020 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/5/21 | 31/5/20 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| 7. | RESERVES |
| Retained | Undistributable |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 June 2020 | 373,809 |
| Profit for the year |
| At 31 May 2021 | 381,482 |