ACCOUNTS - Final Accounts preparation

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


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.


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.


MCORG Property Limited

Notes to the financial statements

For the Period Ended 31 July 2019

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