Macelands Limited - Accounts to registrar (filleted) - small 18.2
Macelands Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2017 |
| FOR |
| MACELANDS LIMITED |
| MACELANDS LIMITED (REGISTERED NUMBER: 05252877) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| MACELANDS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 NOVEMBER 2017 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 12 Victoria Road |
| Barnsley |
| South Yorkshire |
| S70 2BB |
| BANKERS: |
| 75 The Common |
| Ecclesfield |
| Sheffield |
| S35 9WJ |
| MACELANDS LIMITED (REGISTERED NUMBER: 05252877) |
| BALANCE SHEET |
| 30 NOVEMBER 2017 |
| 30.11.17 | 30.11.16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET ASSETS/(LIABILITIES) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Other reserves | 11 |
| Retained earnings | 11 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| MACELANDS LIMITED (REGISTERED NUMBER: 05252877) |
| BALANCE SHEET - continued |
| 30 NOVEMBER 2017 |
| 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 and authorised for issue by the director on signed by: |
| MACELANDS LIMITED (REGISTERED NUMBER: 05252877) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2017 |
| 1. | STATUTORY INFORMATION |
| Macelands Limited is a |
| company's registered number and registered office address can be found on the Company |
| Information page. |
| The financial statements are presented in sterling which is the functional currency of the company |
| and rounded to the nearest pound. |
| 2. | ACCOUNTING POLICIES |
| BASIS OF PREPARING THE FINANCIAL STATEMENTS |
| This is the first year that the company has presented its financial statements under Financial |
| Reporting Standard 102 (FRS102) issued by the Financial Reporting Council. The last financial |
| statements for the year ended 30 November 2016 were prepared under previous UK GAAP, and the |
| transition date to FRS102 is therefore 1 December 2015. At the date of transition, no adjustments |
| were required. |
| SIGNIFICANT JUDGEMENTS AND ESTIMATES |
| No judgements have been made in the process of applying the below accounting policies that have |
| had the most significant effect on amounts recognised in the financial statements. |
| There are no key assumption concerning the future and other key sources of estimation uncertainty |
| at the reporting date that have a significant risk of causing material adjustment to the carrying |
| amounts of assets and liabilities within the next financial year. |
| TURNOVER |
| Turnover represents rental income, which is measured at the fair value of the consideration |
| receivable and is net of VAT. |
| Turnover is recognised on an accruals basis, by reference to the rental agreements. |
| TANGIBLE FIXED ASSETS |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Cost includes all |
| costs directly attributable to making the asset capable of operating as intended. |
| MACELANDS LIMITED (REGISTERED NUMBER: 05252877) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| INVESTMENT PROPERTY |
| Investment properties for which fair value can be measured reliably without undue cost or effort are |
| measured at the fair value at each reporting date with changes in fair value recognised in the profit |
| or loss account. |
| 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. |
| FINANCIAL INSTRUMENTS |
| Financial instruments are classified and accounted for, according to the substance of the contractual |
| arrangement, as either 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. |
| GOING CONCERN |
| From review of the company's current financial position the company is dependent upon the |
| financial support of its director-shareholder Mr J Mace, who has indicated a willingness to support |
| the company financially for the foreseeable future. |
| As such the director is of the opinion that the company will be able to finance its operations and |
| other obligations for a period of at least 12 months from the date of approval of these financial |
| statements and is of the opinion that it is correct to prepare these on a going concern basis. |
| MACELANDS LIMITED (REGISTERED NUMBER: 05252877) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2017 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2016 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and |
| machinery | fittings | Totals |
| £ | £ | £ |
| COST |
| At 1 December 2016 |
| Additions |
| At 30 November 2017 |
| DEPRECIATION |
| At 1 December 2016 |
| Charge for year |
| At 30 November 2017 |
| NET BOOK VALUE |
| At 30 November 2017 |
| At 30 November 2016 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 December 2016 |
| Additions |
| Revaluations | 256,327 |
| At 30 November 2017 |
| NET BOOK VALUE |
| At 30 November 2017 |
| At 30 November 2016 |
| MACELANDS LIMITED (REGISTERED NUMBER: 05252877) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2017 |
| 5. | INVESTMENT PROPERTY - continued |
| Fair value at 30 November 2017 is represented by: |
| £ |
| Valuation in 2017 | 254,876 |
| Cost | 430,074 |
| 684,950 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.11.17 | 30.11.16 |
| £ | £ |
| Other debtors |
| Tax |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.11.17 | 30.11.16 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Corporation tax |
| VAT | 3,133 | 3,078 |
| Other creditors |
| Directors' current accounts | 304,146 | 297,729 |
| Accruals and deferred income |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.11.17 | 30.11.16 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans more 5 yr by instal |
| MACELANDS LIMITED (REGISTERED NUMBER: 05252877) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2017 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
| 30.11.17 | 30.11.16 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 109,209 | - |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 30.11.17 | 30.11.16 |
| £ | £ |
| Bank loans |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30.11.17 | 30.11.16 |
| value: | £ | £ |
| Ordinary | £1 | 2 | 2 |
| 11. | RESERVES |
| Retained | Other |
| earnings | reserves | Totals |
| £ | £ | £ |
| At 1 December 2016 | ( |
) | (23,652 | ) |
| Profit for the year |
| Revaluation | (256,327 | ) | 256,327 | - |
| At 30 November 2017 | ( |
) | 203,360 |