MCC Investments Ltd - Accounts to registrar (filleted) - small 18.1
MCC Investments Ltd - Accounts to registrar (filleted) - small 18.1
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2017 |
| FOR |
| MCC INVESTMENTS LTD |
| MCC INVESTMENTS LTD (REGISTERED NUMBER: 03469360) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| MCC INVESTMENTS LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 JULY 2017 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 12 Romney Place |
| Maidstone |
| Kent |
| ME15 6LE |
| MCC INVESTMENTS LTD (REGISTERED NUMBER: 03469360) |
| BALANCE SHEET |
| 31 JULY 2017 |
| 2017 | 2016 |
| as restated |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 10 | 226,823 | - |
| Retained earnings | 218,741 |
| SHAREHOLDERS' FUNDS |
| The director acknowledges her 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. |
| MCC INVESTMENTS LTD (REGISTERED NUMBER: 03469360) |
| BALANCE SHEET - continued |
| 31 JULY 2017 |
| 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 on |
| MCC INVESTMENTS LTD (REGISTERED NUMBER: 03469360) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2017 |
| 1. | STATUTORY INFORMATION |
| MCC Investments Ltd is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | 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. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Investments |
| Fixed asset investments are shown at cost less amounts written off. Provisions are made for temporary fluctuations |
| in value. |
| Revaluation reserve |
| Surpluses or deficits arising on the revaluation of individual fixed assets other than investment properties are |
| credited or debited to a non-distributable reserve known as the revaluation reserve (see also note). |
| Revaluation deficits in excess of the amount of prior revaluation surpluses on the same asset are charged to the |
| profit and loss account. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL. |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold |
| property |
| £ |
| COST OR VALUATION |
| At 1 August 2016 |
| Disposals | ( |
) |
| At 31 July 2017 |
| NET BOOK VALUE |
| At 31 July 2017 |
| At 31 July 2016 |
| MCC INVESTMENTS LTD (REGISTERED NUMBER: 03469360) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2017 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Freehold properties consist of: |
| 4 Northcliff Gardens £350,000 |
| Flat 2, 12 Melville Street £65,000 |
| Flat 3, 12 Melville Street £35,000 |
| 4 Northcliff Gardens was professionally revalued by a Member of the Royal Institute of Chartered Surveyors in the |
| year ended 31 July 2014. All of the other fixed asset properties were revalued by a local estate agent during the year |
| ended 31 July 2014. As required by the FRSSE, professional valuations will be sought in the year ended 31 October |
| 2018 and interim valuations will be carried out annually by the directors, using their knowledge and experience of |
| the property market. The directors are satisfied that the annual interim valuations are reasonable and that assets are |
| not materially misstated. |
| Cost or valuation at 31 July 2017 is represented by: |
| Freehold |
| property |
| £ |
| Valuation in 2014 | 768,000 |
| Valuation in 2017 | (318,000 | ) |
| 450,000 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group | Other |
| undertakings | investments | Totals |
| £ | £ | £ |
| COST |
| At 1 August 2016 |
| and 31 July 2017 | 108,407 |
| NET BOOK VALUE |
| At 31 July 2017 | 108,407 |
| At 31 July 2016 | 108,407 |
| Shares in group undertakings relates to 7 Ordinary D Shares (5.07% of total share capital) in Hollier Farms Limited, |
| a company under common control. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| as restated |
| £ | £ |
| Trade debtors |
| Owed by companies under common control |
| MCC INVESTMENTS LTD (REGISTERED NUMBER: 03469360) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2017 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued |
| Amounts owed by companies under common control consist of £29,045 (2016: £630) owed by Chelsea Gate |
| Limited. |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| as restated |
| £ | £ |
| Bank loans and overdrafts |
| Tax |
| Directors' current accounts | 29,153 | 29,153 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| as restated |
| £ | £ |
| Bank loans - 2-5 years |
| Bank loans more 5 yr by instal |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 372,940 | 638,217 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| as restated |
| £ | £ |
| Bank loans |
| The company has granted a legal mortgage over its freehold land and buildings to secure mortgage borrowings. |
| MCC INVESTMENTS LTD (REGISTERED NUMBER: 03469360) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2017 |
| 10. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 August 2016 |
| and 31 July 2017 |
| Included within retained earnings at 31st July 2017 is non-distributable earnings of £208,446 from unrealised gains |
| on investment properties (216: £207,681). |
| 11. | RELATED PARTY DISCLOSURES |
| Chelsea Gate Limited |
| A company controlled by Baroness Rowena Von Albedyhll. |
| During the year the company paid management charges of £nil (2016: £6,500) to Chelsea Gate Limited. At the |
| balance sheet date balance owed by Chelsea Gate Limited was £29,045 (2016: £630). |
| 12. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |