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REGISTERED NUMBER: SC445704 (Scotland)





















Unaudited Financial Statements

For The Year Ended 31 January 2022

for

Markev Limited

Markev Limited (Registered number: SC445704)






Contents of the Financial Statements
For The Year Ended 31 January 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

Markev Limited

Company Information
For The Year Ended 31 January 2022







DIRECTOR: B Richards





REGISTERED OFFICE: 193 Bath Street
GLasgow
G2 4HU





REGISTERED NUMBER: SC445704 (Scotland)





ACCOUNTANTS: Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH

Markev Limited (Registered number: SC445704)

Balance Sheet
31 January 2022

31.1.22 31.1.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 342,150 395,809

CURRENT ASSETS
Stocks 4,267 4,000
Debtors 5 51,847 43,244
Cash at bank 55,955 136,780
112,069 184,024
CREDITORS
Amounts falling due within one year 6 106,364 144,042
NET CURRENT ASSETS 5,705 39,982
TOTAL ASSETS LESS CURRENT
LIABILITIES

347,855

435,791

CREDITORS
Amounts falling due after more than one
year

7

(122,954

)

(322,753

)

PROVISIONS FOR LIABILITIES (65,009 ) (73,895 )
NET ASSETS 159,892 39,143

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 158,892 38,143
SHAREHOLDERS' FUNDS 159,892 39,143

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Markev Limited (Registered number: SC445704)

Balance Sheet - continued
31 January 2022


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 August 2022 and were signed by:





B Richards - Director


Markev Limited (Registered number: SC445704)

Notes to the Financial Statements
For The Year Ended 31 January 2022

1. STATUTORY INFORMATION

Markev Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. 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.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include:

- Depreciation of fixed assets

The key assumptions are to the expected useful life of the assets. This is detailed on the note on depreciation rates.

Turnover
Turnover comprises cash sales takings from the operation of a nightclub for the period under review ,exclusive of value added tax.Income is recognised when services have been delivered to customers such that risks and rewards of ownership have transferred to them.

Sponsorship income is recognised when agreement is reached on amounts receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 12.5% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on reducing balance

Depreciation is calculated monthly on the net book value of the asset at the preceding month end

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

Markev Limited (Registered number: SC445704)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2022

2. ACCOUNTING POLICIES - continued

Financial instruments
Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and Bank Balances

Cash and bank balances are measured at the transaction price

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts are capitalised as tangible fixed assets and
depreciated over their useful lives.

The interest element of these obligations is charged to the profit and loss account over the relevant
period. The capital element of the future payments is treated as a liability.

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a
straight line basis over the period until the date the rent is expected to be adjusted to the prevailing
market rate.

Pension costs and other post-retirement benefits
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.

Markev Limited (Registered number: SC445704)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2021 - 35 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 February 2021 778,891 275,604 25,908 1,080,403
Additions - 2,081 1,994 4,075
At 31 January 2022 778,891 277,685 27,902 1,084,478
DEPRECIATION
At 1 February 2021 453,663 207,060 23,871 684,594
Charge for year 42,280 14,124 1,330 57,734
At 31 January 2022 495,943 221,184 25,201 742,328
NET BOOK VALUE
At 31 January 2022 282,948 56,501 2,701 342,150
At 31 January 2021 325,228 68,544 2,037 395,809

Fixed assets, included in the above, which are held under finance leases are as follows:
Fixtures
and
fittings
£   
COST
At 1 February 2021 13,454
Transfer to ownership (13,454 )
At 31 January 2022 -
DEPRECIATION
At 1 February 2021 6,566
Transfer to ownership (6,566 )
At 31 January 2022 -
NET BOOK VALUE
At 31 January 2022 -
At 31 January 2021 6,888

Markev Limited (Registered number: SC445704)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2022

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.22 31.1.21
£    £   
Trade debtors 26,937 -
Other debtors 7,195 10,378
Directors' current accounts - 31,932
Prepayments 17,715 934
51,847 43,244

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.22 31.1.21
£    £   
Bank loans and overdrafts 10,000 5,000
Finance leases - 3,087
Trade creditors 15,111 21,091
Tax 46,693 79,739
Social security and other taxes 482 1,218
VAT 30,673 30,297
Other creditors 289 374
Accrued expenses 3,116 3,236
106,364 144,042

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.22 31.1.21
£    £   
Bank loans - 1-2 years 20,000 20,000
Bank loans - 2-5 years 14,898 25,000
Amounts owed to group undertakings 88,056 277,753
122,954 322,753

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.22 31.1.21
£    £   
Finance leases - 3,087
Loan from parent company 88,056 277,753
88,056 280,840

The loan from Dawncrest Ltd is secured by a bond and floating charge.

9. RELATED PARTY DISCLOSURES

During the year, the company paid rent of £120,000 (2021 - £120,000), service charges of £Nil (2021 - £1,543), management charges of £850 (2021- £2,083) and loan interest of £11,079 (2021 - £29,128) to Dawncrest Ltd, the parent company. At the year end date, a balance of £80,056 (2021 - £277,753) was owed to this company.

Markev Limited (Registered number: SC445704)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2022

9. RELATED PARTY DISCLOSURES - continued

Dawncrest Limited (incorporated in Scotland ) is regarded by the director as being the company's ultimate parent company.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Markev Limited

The following reproduces the text of the report prepared for the director 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 Director 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 Markev Limited for the year ended 31 January 2022 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of Markev Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Markev Limited and state those matters that we have agreed to state to the director of Markev Limited in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Markev 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 Markev Limited. You consider that Markev 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 Markev 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.






Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH


19 August 2022