Maritz Holdings Limited 11388860 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of property letting. Digita Accounts Production Advanced 6.30.9574.0 true true 11388860 2022-04-01 2023-03-31 11388860 2023-03-31 11388860 core:CurrentFinancialInstruments 2023-03-31 11388860 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 11388860 bus:SmallEntities 2022-04-01 2023-03-31 11388860 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 11388860 bus:FullAccounts 2022-04-01 2023-03-31 11388860 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 11388860 bus:RegisteredOffice 2022-04-01 2023-03-31 11388860 bus:Director1 2022-04-01 2023-03-31 11388860 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11388860 core:KeyManagementPersonnel 2022-04-01 2023-03-31 11388860 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-04-01 2023-03-31 11388860 countries:EnglandWales 2022-04-01 2023-03-31 11388860 2022-03-31 11388860 2021-04-01 2022-03-31 11388860 2022-03-31 11388860 core:CurrentFinancialInstruments 2022-03-31 11388860 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 11388860

Prepared for the registrar

Maritz Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Maritz Holdings Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Maritz Holdings Limited

Company Information

Director

N Maritz

Registered office

Field Cottage
Bohemia
Redlynch
Salisbury
SP5 2PT

Accountants

Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
GL51 0UX

 

Maritz Holdings Limited

(Registration number: 11388860)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

1,227,899

1,227,899

Current assets

 

Cash at bank and in hand

 

11,862

4,358

Creditors: Amounts falling due within one year

5

(1,093,357)

(1,101,068)

Net current liabilities

 

(1,081,495)

(1,096,710)

Net assets

 

146,404

131,189

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

146,304

131,089

Shareholders' funds

 

146,404

131,189

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 18 October 2023
 


N Maritz
Director

 

Maritz Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

 

1

General information

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

The address of its registered office is:
Field Cottage
Bohemia
Redlynch
Salisbury
SP5 2PT
England

 

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

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

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

 

Maritz Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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 and after eliminating sales within the company.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss
account, except that a charge attributable to an item of income or expense recognised as other comprehensive
income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or
substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and
liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the
company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively
enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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 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 all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

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.

 

Maritz Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was as follows:

The investment properties were last valued by an independent valuer in June 2018 and December 2019. These valuations were prior to the addition of stamp duty land tax and land registry fees paid on acquisition. The directors are of the opinion that the market value of the investment properties has not changed since the last valuations.

 

5

Creditors

Note

2023
 £

2022
 £

Due within one year

 

Loans and borrowings

6

1,086,930

1,096,930

Social security and other taxes

 

3,892

1,797

Accrued expenses

 

2,535

2,341

 

1,093,357

1,101,068

 

Maritz Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

 

6

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Other borrowings

1,086,930

1,096,930

 

7

Related party transactions

Key management personnel

Key management personnel is considered to be the director of the company.

Summary of transactions with key management

As at the balance sheet date, the company owed the director £1,086,930 (2022: £1,096,930). This amount is included within other borrowings. No interest is charged on the outstanding amount and there are no fixed repayment terms.