ACCOUNTS - Final Accounts preparation


Caseware UK (AP4) 2019.0.227 2019.0.2272018-07-25trueProperty rentalfalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.114837992018-07-24114837992018-07-252019-07-31114837992019-07-3111483799 c:Director1 2018-07-252019-07-3111483799 d:FreeholdInvestmentProperty 2018-07-252019-07-3111483799 d:FreeholdInvestmentProperty 2019-07-3111483799 d:CurrentFinancialInstruments 2019-07-3111483799 d:CurrentFinancialInstruments d:WithinOneYear 2019-07-3111483799 d:ShareCapital 2019-07-3111483799 d:RetainedEarningsAccumulatedLosses 2019-07-3111483799 c:FRS102 2018-07-252019-07-3111483799 c:AuditExempt-NoAccountantsReport 2018-07-252019-07-3111483799 c:FullAccounts 2018-07-252019-07-3111483799 c:PrivateLimitedCompanyLtd 2018-07-252019-07-31iso4217:GBP
Registered number: 11483799













MCORG Property Limited

Financial statements
Information for filing with the registrar

31 July 2019




 
MCORG Property Limited


Balance Sheet
As at 31 July 2019

2019
Note
£

Fixed assets
  

Investment property
  
494,457

  
494,457

Current assets
  

Debtors: amounts falling due within one year
 4 
309

Cash at bank and in hand
  
6,257

  
6,566

Creditors: amounts falling due within one year
 5 
(500,194)

Net current (liabilities)/assets
  
 
 
(493,628)

Total assets less current liabilities
  
829

  

Net assets
  
829


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
729

  
829


1

 
MCORG Property Limited

    
Balance Sheet (continued)
As at 31 July 2019

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 April 2020.




Matthew John Gill
Director

Registered number: 11483799
The notes on pages 3 to 4 form part of these financial statements. 

2

 
MCORG Property Limited
 
 

Notes to the financial statements
For the Period Ended 31 July 2019

1.


General information

The company is a private company limited by shares, registered in England and Wales. The trading address is 1 Windermere, Sunderland SR6 7QQ. The principal acitiviy of the company throughout the period was that of property investment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

The turnover shown in the profit and loss account represents amounts receivable under operating leases during the period.

 
2.3

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the statement of comprehensive income.

 
2.4

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.


3.


Investment property


Freehold investment property

£



Valuation


Additions at cost
494,457



At 31 July 2019
494,457

The 2019 valuations were made by the Directors, on an open market value for existing use basis.







3

 
MCORG Property Limited
 
 

Notes to the financial statements
For the Period Ended 31 July 2019

4.


Debtors

2019
£


Prepayments and accrued income
309

309



5.


Creditors: Amounts falling due within one year

2019
£

Other creditors
493,076

Accruals and deferred income
7,118

500,194


 
4