REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 28 February 2018 |
for |
MARFANI & CO LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 28 February 2018 |
for |
MARFANI & CO LIMITED |
MARFANI & CO LIMITED (REGISTERED NUMBER: 00771488) |
Contents of the Financial Statements |
for the year ended 28 February 2018 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
MARFANI & CO LIMITED |
Company Information |
for the year ended 28 February 2018 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
Northern Assurance Buildings |
9-21 Princess Street |
Manchester |
M2 4DN |
MARFANI & CO LIMITED (REGISTERED NUMBER: 00771488) |
Balance Sheet |
28 February 2018 |
2018 | 2017 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investment property | 5 |
Current assets |
Debtors | 6 |
Investments | 7 |
Cash at bank |
Creditors |
Amounts falling due within one year | 8 |
Net current (liabilities)/assets | ( |
) |
Total assets less current liabilities |
Provisions for liabilities |
Net assets |
Capital and reserves |
Called up share capital |
Capital redemption reserve | 9 |
Other reserves | 9 |
Fair value reserve | 9 |
Retained earnings | 9 |
Shareholders' funds |
The directors acknowledge their 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. |
MARFANI & CO LIMITED (REGISTERED NUMBER: 00771488) |
Balance Sheet - continued |
28 February 2018 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors on |
MARFANI & CO LIMITED (REGISTERED NUMBER: 00771488) |
Notes to the Financial Statements |
for the year ended 28 February 2018 |
1. | Statutory information |
Marfani & Co Limited is a |
registered number and registered office address can be found on the Company Information page. |
2. | Statement of compliance |
These financial statements have been prepared in accordance with the provisions of Section 1A ''Small Entities'' |
of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of |
Ireland'' and the Companies Act 2006. |
3. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover comprises of rental income receivable and sales of properties. Income from property sales is |
recognised on legal completion. |
Tangible fixed assets |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and |
accumulated impairment losses. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
fair value is recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
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. |
4. | Employees and directors |
The average number of employees during the year was |
MARFANI & CO LIMITED (REGISTERED NUMBER: 00771488) |
Notes to the Financial Statements - continued |
for the year ended 28 February 2018 |
5. | Investment property |
Total |
£ |
Fair value |
At 1 March 2017 |
Additions |
At 28 February 2018 |
Net book value |
At 28 February 2018 |
At 28 February 2017 |
The investment properties were revalued on 28 February 2018 by the directors who are internal to the company. |
the basis of this valuation was open market value with existing use. This class of asset has a current value of |
£2,972,847 and a carrying amount at historical cost of £2,442,555 (2017 - £2,429,341). |
The depreciation on this historical cost is £nil (2017 - £nil). |
6. | Debtors: amounts falling due within one year |
2018 | 2017 |
£ | £ |
Trade debtors |
Other debtors |
7. | Current asset investments |
2018 | 2017 |
£ | £ |
Listed investments | 5,829 | 5,829 |
8. | Creditors: amounts falling due within one year |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
MARFANI & CO LIMITED (REGISTERED NUMBER: 00771488) |
Notes to the Financial Statements - continued |
for the year ended 28 February 2018 |
9. | Reserves |
Capital |
Retained | redemption | Other | Fair value |
earnings | reserve | reserves | reserve | Totals |
£ | £ | £ | £ | £ |
At 1 March 2017 | 2,508,087 |
Profit for the year | - | - | - |
Dividends | ( |
) | - | - | - | ( |
) |
Deferred tax on rev prop in yr | (4,600 | ) | - | - | 4,600 | - |
At 28 February 2018 | 2,533,947 |