Silverfin false 28/02/2022 28/02/2022 01/03/2021 Bernardo Hartogs 03/02/1994 15 August 2022 The principal activity of the company is petrochemical consulting and providing administrative service. 02862894 2022-02-28 02862894 bus:Director1 2022-02-28 02862894 2021-02-28 02862894 core:CurrentFinancialInstruments 2022-02-28 02862894 core:CurrentFinancialInstruments 2021-02-28 02862894 core:ShareCapital 2022-02-28 02862894 core:ShareCapital 2021-02-28 02862894 core:RetainedEarningsAccumulatedLosses 2022-02-28 02862894 core:RetainedEarningsAccumulatedLosses 2021-02-28 02862894 core:OtherResidualIntangibleAssets 2021-02-28 02862894 core:OtherResidualIntangibleAssets 2022-02-28 02862894 core:LandBuildings 2021-02-28 02862894 core:OfficeEquipment 2021-02-28 02862894 core:ComputerEquipment 2021-02-28 02862894 core:LandBuildings 2022-02-28 02862894 core:OfficeEquipment 2022-02-28 02862894 core:ComputerEquipment 2022-02-28 02862894 2021-03-01 2022-02-28 02862894 bus:FullAccounts 2021-03-01 2022-02-28 02862894 bus:SmallEntities 2021-03-01 2022-02-28 02862894 bus:AuditExemptWithAccountantsReport 2021-03-01 2022-02-28 02862894 bus:PrivateLimitedCompanyLtd 2021-03-01 2022-02-28 02862894 bus:Director1 2021-03-01 2022-02-28 02862894 core:OtherResidualIntangibleAssets core:TopRangeValue 2021-03-01 2022-02-28 02862894 core:LandBuildings core:TopRangeValue 2021-03-01 2022-02-28 02862894 core:OfficeEquipment 2021-03-01 2022-02-28 02862894 core:ComputerEquipment core:TopRangeValue 2021-03-01 2022-02-28 02862894 2020-03-01 2021-02-28 02862894 core:OtherResidualIntangibleAssets 2021-03-01 2022-02-28 02862894 core:OtherResidualIntangibleAssets 1 2021-03-01 2022-02-28 02862894 1 2021-03-01 2022-02-28 02862894 core:LandBuildings 2021-03-01 2022-02-28 02862894 core:ComputerEquipment 2021-03-01 2022-02-28 iso4217:GBP xbrli:pure

Company No: 02862894 (England and Wales)

MAR ENERGY LIMITED

Unaudited Financial Statements
For the financial year ended 28 February 2022
Pages for filing with the registrar

MAR ENERGY LIMITED

Unaudited Financial Statements

For the financial year ended 28 February 2022

Contents

MAR ENERGY LIMITED

COMPANY INFORMATION

For the financial year ended 28 February 2022
MAR ENERGY LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 28 February 2022
DIRECTOR Bernardo Hartogs
REGISTERED OFFICE 22 Chancery Lane
London
WC2A 1LS
United Kingdom
COMPANY NUMBER 02862894 (England and Wales)
CHARTERED ACCOUNTANTS Dixon Wilson
22 Chancery Lane
London
WC2A 1LS
MAR ENERGY LIMITED

BALANCE SHEET

As at 28 February 2022
MAR ENERGY LIMITED

BALANCE SHEET (continued)

As at 28 February 2022
Note 2022 2021
£ £
Fixed assets
Tangible assets 4 1,164 7,243
1,164 7,243
Current assets
Debtors 5 38,275 133,960
Cash at bank and in hand 6 315,008 642,647
353,283 776,607
Creditors
Amounts falling due within one year 7 ( 367,983) ( 1,452,614)
Net current liabilities (14,700) (676,007)
Total assets less current liabilities (13,536) (668,764)
Net liabilities ( 13,536) ( 668,764)
Capital and reserves
Called-up share capital 6 6
Profit and loss account ( 13,542 ) ( 668,770 )
Total shareholders' deficit ( 13,536) ( 668,764)

For the financial year ending 28 February 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Mar Energy Limited (registered number: 02862894) were approved and authorised for issue by the Director on 15 August 2022. They were signed on its behalf by:

Bernardo Hartogs
Director
MAR ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2022
MAR ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2022
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Mar Energy Limited is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 22 Chancery Lane, London, WC2A 1LS, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006 .

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows as at the date of approving these financial statements. The director has a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

The company recognises turnover when contracts to supply goods are fulfilled.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 10 years straight line
Office equipment 25 % reducing balance
Computer equipment 5 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged to the profit and loss account on a straight-line basis over the lease term.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

2. Employees

2022 2021
Number Number
Monthly average number of persons employed by the Company during the year, including the director 3 3

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 March 2021 0 0
Additions 13,286 13,286
Impairment ( 13,286) ( 13,286)
At 28 February 2022 0 0
Accumulated amortisation
At 01 March 2021 0 0
At 28 February 2022 0 0
Net book value
At 28 February 2022 0 0
At 28 February 2021 0 0

4. Tangible assets

Land and buildings Office equipment Computer equipment Total
£ £ £ £
Cost
At 01 March 2021 44,118 60,938 0 105,056
Additions 0 0 1,350 1,350
Disposals ( 44,118) ( 60,938) 0 ( 105,056)
At 28 February 2022 0 0 1,350 1,350
Accumulated depreciation
At 01 March 2021 41,420 56,393 0 97,813
Charge for the financial year 2,698 1,515 186 4,399
Disposals ( 44,118) ( 57,908) 0 ( 102,026)
At 28 February 2022 0 0 186 186
Net book value
At 28 February 2022 0 0 1,164 1,164
At 28 February 2021 2,698 4,545 0 7,243

5. Debtors

2022 2021
£ £
Other debtors 38,275 133,960

6. Cash and cash equivalents

2022 2021
£ £
Cash at bank and in hand 315,008 642,647

7. Creditors: amounts falling due within one year

2022 2021
£ £
Trade creditors 30,907 14,476
Other creditors 333,318 1,434,374
Other taxation and social security 3,758 3,764
367,983 1,452,614

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2022 2021
£ £
- within one year 0 19,687

9. Related party transactions

Transactions with the entity's director

The director paid expenses on behalf of the company totalling £1,115 and the balance outstanding at the
year end was £309,719 (2020 - £969,925). The loan is unsecured, interest free and repayable on demand.