Macclesfield Properties Limited - Period Ending 2016-05-31

Registration number: 04439188

Macclesfield Properties Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2016
 

Lennards
Chartered Accountants
The Vicarage
31 Great King Street
Macclesfield
Cheshire
SK11 6PL

Macclesfield Properties Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 6

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Macclesfield Properties Limited
for the Year Ended 31 May 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Macclesfield Properties Limited for the year ended 31 May 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Macclesfield Properties Limited, as a body, in accordance with the terms of our engagement letterdated 11 February 2013. Our work has been undertaken solely to prepare for your approval the accounts of Macclesfield Properties Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Macclesfield Properties Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Macclesfield Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Macclesfield Properties Limited. You consider that Macclesfield Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Macclesfield Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Lennards
Chartered Accountants
The Vicarage
31 Great King Street
Macclesfield
Cheshire
SK11 6PL

24 November 2016

Page 1

Macclesfield Properties Limited
(Registration number: 04439188)
Abbreviated Balance Sheet at 31 May 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					109,242			194,209
Current assets
Cash at bank and in hand					157,022			297
Creditors: Amounts falling due within one year					(51,214)			(180,734)
Net current assets/(liabilities)					105,808			(180,437)
Net assets					215,050			13,772
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					214,950			13,672
Shareholders' funds					215,050			13,772

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

Macclesfield Properties Limited
(Registration number: 04439188)
Abbreviated Balance Sheet at 31 May 2016
......... continued

For the year ending 31 May 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 24 November 2016 and signed on its behalf by:

.........................................
Martyn John Cole
Chairman

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

Macclesfield Properties Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

The company's turnover represents the value, excluding value added tax, of goods and services supplied to customers during the year. The whole of the company's turnover was generated from its main activity and arose in the U.K.

Depreciation

Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful lives using the following rates:

Asset class	Depreciation method and rate
Freehold buildings	2% per annum of cost
Office equipment	20% per annum of cost

Deferred tax

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences to the extent that it is considered that a net liability may crystallise.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 4

Macclesfield Properties Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 June 2015		208,213			208,213
Disposals		(94,214)			(94,214)
At 31 May 2016		113,999			113,999
Depreciation
At 1 June 2015		14,004			14,004
Charge for the year		2,059			2,059
Eliminated on disposals		(11,306)			(11,306)
At 31 May 2016		4,757			4,757
Net book value
At 31 May 2016		109,242			109,242
At 31 May 2015		194,209			194,209

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		-			56,350

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary Shares of £1 each		100			100			100			100

Page 5

Macclesfield Properties Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

5	Related party transactions

Directors' advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Joanna Elisabeth Cole
INterim dividends received	9,806	-	-	-

6

Control

The company is controlled by Mr. and Mrs Martin Cole who are the major shareholders, by virtue of their major shareholding in the equity capital of the company.

Page 6