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Marconi Holiday Villages Limited

Financial Statements for the Year Ended 31 October 2021






Marconi Holiday Villages Limited

Company Information
for the Year Ended 31 October 2021







DIRECTORS: S C Goodfellow
E R Goodfellow





SECRETARY: S C Goodfellow





REGISTERED OFFICE: Lavernock Point
Fort Road
Penarth
South Glamorgan
CF64 5XQ





REGISTERED NUMBER: 00687271 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Marconi Holiday Villages Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Marconi Holiday Villages Limited for the year ended 31 October 2021 which comprise the Profit & Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Marconi Holiday Villages Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Marconi Holiday Villages Limited and state those matters that we have agreed to state to the Board of Directors of Marconi Holiday Villages Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Marconi Holiday Villages Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Marconi Holiday Villages Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Marconi Holiday Villages Limited. You consider that Marconi Holiday Villages Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Marconi Holiday Villages Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


7 September 2022

Marconi Holiday Villages Limited (Registered number: 00687271)

Balance Sheet
31 October 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 409,025 407,467

CURRENT ASSETS
Stocks 465 245
Debtors 4 2,425 4,102
Cash at bank and in hand 240,930 247,669
243,820 252,016
CREDITORS
Amounts falling due within one year 5 59,859 65,951
NET CURRENT ASSETS 183,961 186,065
TOTAL ASSETS LESS CURRENT
LIABILITIES

592,986

593,532

CAPITAL AND RESERVES
Called up share capital 601 601
Revaluation reserve 6 95,602 95,602
Retained earnings 496,783 497,329
SHAREHOLDERS' FUNDS 592,986 593,532

Marconi Holiday Villages Limited (Registered number: 00687271)

Balance Sheet - continued
31 October 2021


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 in accordance with Section 476 of the Companies Act 2006.

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.

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

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 June 2022 and were signed on its behalf by:





S C Goodfellow - Director


Marconi Holiday Villages Limited (Registered number: 00687271)

Notes to the Financial Statements
for the Year Ended 31 October 2021


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% reducing balance and 25% straight line
Motor vehicles - 25% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & 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.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Marconi Holiday Villages Limited (Registered number: 00687271)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2021


2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2020 - 9 ) .

3. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 November 2020 403,547 106,212 10,275 520,034
Additions - 2,538 - 2,538
At 31 October 2021 403,547 108,750 10,275 522,572
DEPRECIATION
At 1 November 2020 - 102,776 9,791 112,567
Charge for year - 859 121 980
At 31 October 2021 - 103,635 9,912 113,547
NET BOOK VALUE
At 31 October 2021 403,547 5,115 363 409,025
At 31 October 2020 403,547 3,436 484 407,467

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Other debtors & prepayments 2,425 4,102

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 3,958 1,981
Taxes & social security costs 7,664 9,971
Other creditors & accruals 48,237 53,999
59,859 65,951

Marconi Holiday Villages Limited (Registered number: 00687271)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2021


6. RESERVES
Revaluation
reserve
£   
At 1 November 2020
and 31 October 2021 95,602

7. ULTIMATE CONTROLLING PARTY

The controlling party is S C Goodfellow.