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Registration number: 04944735

Maream Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 October 2022

 

Maream Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

Maream Limited

Company Information

Director

Mrs M Long

Registered office

Transport House
Uxbridge Road
Hillingdon Heath
Hillingdon
Middlesex
UB10 0LY

 

Maream Limited

(Registration number: 04944735)
Abridged Balance Sheet as at 31 October 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

49,828

49,837

Investment property

1,254,319

1,254,319

 

1,304,147

1,304,156

Current assets

 

Debtors

5

772

11,410

Cash at bank and in hand

 

7,144

856

 

7,916

12,266

Creditors: Amounts falling due within one year

(203,970)

(174,785)

Net current liabilities

 

(196,054)

(162,519)

Total assets less current liabilities

 

1,108,093

1,141,637

Creditors: Amounts falling due after more than one year

(959,400)

(992,463)

Accruals and deferred income

 

(4,187)

(3,831)

Net assets

 

144,506

145,343

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

144,406

145,243

Shareholders' funds

 

144,506

145,343

For the financial year ending 31 October 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 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 her 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Maream Limited

(Registration number: 04944735)
Abridged Balance Sheet as at 31 October 2022

Approved and authorised by the director on 12 October 2023
 

.........................................
Mrs M Long
Director

 

Maream Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2022

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:
Transport House
Uxbridge Road
Hillingdon Heath
Hillingdon
Middlesex
UB10 0LY

These financial statements were authorised for issue by the director on 12 October 2023.

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 abridged 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 abridged 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.

Revenue recognition

Turnover comprises revenue recognised by the company in respect of rent receivable.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% on reducing balance

Office equipment

25% on reducing balance

 

Maream Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2022

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.

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.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement as either financial assets, financial liabilities or equity instruments. An equity instrument is any contact that evidences a residual interest in the assets of the the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2021 - 1).

 

Maream Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Properties under construction
 £

Total
£

Cost or valuation

At 1 November 2021

1,122

49,800

50,922

At 31 October 2022

1,122

49,800

50,922

Depreciation

At 1 November 2021

1,085

-

1,085

Charge for the year

9

-

9

At 31 October 2022

1,094

-

1,094

Carrying amount

At 31 October 2022

28

49,800

49,828

At 31 October 2021

37

49,800

49,837

Investment properties

2022
£

At 1 November

1,254,319

There has been no valuation of investment property by an independent valuer.

5

Debtors

Debtors includes £Nil (2021 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

         

7

Related party transactions

At 31 October 2022, the balance owing to the director was £203,970 (2021: £174,785).