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Registration number: 12965126

Marlin Mansion Limited

Annual Report and Financial Statements

for the period from 21 October 2020 to 30 November 2021

 

Marlin Mansion Limited

Contents

Statement of Director's Responsibilities

1

Statement of Financial Position

2

Notes to the Financial Statements

3 to 8

 

Marlin Mansion Limited

Statement of Director's Responsibilities

The director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Marlin Mansion Limited

(Registration number: 12965126)
Statement of Financial Position
30 November 2021

Note

2021
£

Fixed assets

 

Investment property

4

1,368,530

Current assets

 

Debtors

5

3,900

Cash at bank and in hand

 

153

 

4,053

Creditors: Amounts falling due within one year

6

(702)

Net current assets

 

3,351

Total assets less current liabilities

 

1,371,881

Creditors: Amounts falling due after more than one year

6

(1,378,709)

Net liabilities

 

(6,828)

Capital and reserves

 

Called up share capital

100

Profit and loss account

(6,928)

Shareholders' deficit

 

(6,828)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 19 August 2022
 

.........................................
A Stewart-Clark
Director

 

Marlin Mansion Limited

Notes to the Financial Statements
for the period from 21 October 2020 to 30 November 2021

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Sinclaire Cottage
Portsmouth Road
Ripley
Woking
Surrey
GU23 6EW

These financial statements were authorised for issue by the director on 19 August 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis as the director believes that no material uncertainties exist. The director has considered the level of reserves held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the company to be able to continue as a going concern.

 

Marlin Mansion Limited

Notes to the Financial Statements
for the period from 21 October 2020 to 30 November 2021

Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 19 August 2022 was Matthew Hodson BSc FCA, who signed for and on behalf of Hodson and Co.

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Investment property

Investment property is recognised at fair value according to the fair value model, which reflects market conditions at end of the reporting period. Gains or losses resulting from a change in the fair value of investment property are recognised in the income statement in the year they arise.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Marlin Mansion Limited

Notes to the Financial Statements
for the period from 21 October 2020 to 30 November 2021

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Marlin Mansion Limited

Notes to the Financial Statements
for the period from 21 October 2020 to 30 November 2021

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4

Investment properties

2021
£

Additions

1,368,530

At 30 November

1,368,530

5

Debtors

2021
£

Trade debtors

3,900

3,900

 

Marlin Mansion Limited

Notes to the Financial Statements
for the period from 21 October 2020 to 30 November 2021

6

Creditors

Creditors: amounts falling due within one year

2021
£

Due within one year

Trade creditors

702

Creditors: amounts falling due after more than one year

Note

2021
£

Due after one year

 

Loans and borrowings

7

888,125

Other non-current financial liabilities

 

490,584

 

1,378,709

7

Loans and borrowings

2021
£

Non-current loans and borrowings

Bank borrowings

888,125

 

Marlin Mansion Limited

Notes to the Financial Statements
for the period from 21 October 2020 to 30 November 2021

8

Related party transactions

Loans from related parties

2021

Other related parties
£

Total
£

Advanced

490,584

490,584

At end of period

490,584

490,584

9

Parent and ultimate parent undertaking

The ultimate controlling party by virtue of owning 100% shares in Providence Place Ltd is Alex Stewart-Clark.

 The company's immediate parent is Providence Place Ltd, incorporated in England & Wales.