REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 November 2022 |
for |
Marson Investments Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 November 2022 |
for |
Marson Investments Limited |
Marson Investments Limited (Registered number: 10416605) |
Contents of the Financial Statements |
for the year ended 30 November 2022 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Marson Investments Limited |
Company Information |
for the year ended 30 November 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
3-5 Grange Terrace |
Stockton Road |
Sunderland |
Tyne & Wear |
SR2 7DG |
Marson Investments Limited (Registered number: 10416605) |
Statement of Financial Position |
30 November 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings non |
distributable |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
Marson Investments Limited (Registered number: 10416605) |
Statement of Financial Position - continued |
30 November 2022 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Marson Investments Limited (Registered number: 10416605) |
Notes to the Financial Statements |
for the year ended 30 November 2022 |
1. | STATUTORY INFORMATION |
Marson Investments Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future, which the directors consider to be appropriate. |
Preparation of consolidated financial statements |
The financial statements contain information about Marson Investments Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group or those at market rate. |
Income |
Income is generated from net invoiced rents, excluding Value Added Tax. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Investment properties are not depreciated and are included in the balance sheet at their most recent valuation. |
In the opinion of the directors the most recent valuation represents the fair value of the investment properties. |
Financial instruments |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value. |
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 statement of financial position date. |
Marson Investments Limited (Registered number: 10416605) |
Notes to the Financial Statements - continued |
for the year ended 30 November 2022 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 December 2021 |
and 30 November 2022 |
DEPRECIATION |
At 1 December 2021 |
Charge for year |
At 30 November 2022 |
NET BOOK VALUE |
At 30 November 2022 |
At 30 November 2021 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 December 2021 |
Disposals | ( |
) |
Revaluations | 407,009 |
At 30 November 2022 |
NET BOOK VALUE |
At 30 November 2022 |
At 30 November 2021 |
Marson Investments Limited (Registered number: 10416605) |
Notes to the Financial Statements - continued |
for the year ended 30 November 2022 |
5. | INVESTMENT PROPERTY - continued |
Fair value at 30 November 2022 is represented by: |
£ |
Valuation in 2022 | 407,008 |
Cost | 2,053,059 |
2,460,067 |
If investment property had not been revalued it would have been included at the following historical cost: |
2022 | 2021 |
£ | £ |
Cost | 2,053,059 | 2,053,059 |
Investment property was valued on an open market basis on 2 August 2022 by Bradley Hall Chartered Surveyors . |
In the opinion of the directors the most recent valuation represents the fair value of investment properties. |
6. | DEBTORS |
2022 | 2021 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts (see note 9) |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans (see note 9) |
Marson Investments Limited (Registered number: 10416605) |
Notes to the Financial Statements - continued |
for the year ended 30 November 2022 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
2022 | 2021 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 893,333 | 436,275 |
9. | LOANS |
An analysis of the maturity of loans is given below: |
2022 | 2021 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
Bank loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 893,333 | 436,275 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2022 | 2021 |
£ | £ |
Bank loans |
The bank loan is secured against the company's fixed assets. |
Marson Investments Limited (Registered number: 10416605) |
Notes to the Financial Statements - continued |
for the year ended 30 November 2022 |
11. | CALLED UP SHARE CAPITAL |
Number: | Class: | Nominal value: | 2022 | 2021 |
£ | £ |
1,835,385 | Ordinary shares | £1 | 1,835,385 | - |
1,223,590 | C Ordinary shares | £1 | - | 1,223,590 |
293,662 | D Ordinary shares | £1 | - | 293,662 |
293,662 | E Ordinary shares | £1 | - | 293,662 |
24,471 | F Ordinary shares | £1 | - | 24,471 |
1,835,385 | 1,835,385 |
On 27 September 2022, the 1,223,590 C Ordinary, 293,662 D Ordinary, 293,662 E Ordinary and 24,471 F Ordinary shares were reclassified into 1,835,385 Ordinary shares. |
On the same day, the 1,835,385 Ordinary shares were purchased by Sinev Ltd. |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 30 November 2022 and 30 November 2021: |
2022 | 2021 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
13. | ULTIMATE PARENT COMPANY |
The ultimate parent company is Sinev Limited, a company incorporated in the United Kingdom. The registered office address is 1i North Sands Business Centre Liberty Way, Sunderland, Tyne & Wear, SR6 0QA. |