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MARK AND ROSE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST MARCH 2023






MARK AND ROSE LIMITED (REGISTERED NUMBER: 07686443)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 8

MARK AND ROSE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTOR: M C Hughes





REGISTERED OFFICE: First Floor, Woburn Court
2 Railton Road
Woburn Road Industrial Estate
Kempston
Bedfordshire
MK42 7PN





REGISTERED NUMBER: 07686443 (England and Wales)





ACCOUNTANTS: Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN

MARK AND ROSE LIMITED (REGISTERED NUMBER: 07686443)

BALANCE SHEET
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 430 537
Investments 5 353,443 448,978
Investment property 6 815,000 754,285
1,168,873 1,203,800

CURRENT ASSETS
Debtors 7 286,602 150,900
Cash at bank 200,680 298,396
487,282 449,296
CREDITORS
Amounts falling due within one year 8 18,225 30,801
NET CURRENT ASSETS 469,057 418,495
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,637,930

1,622,295

PROVISIONS FOR LIABILITIES 20,761 9,035
NET ASSETS 1,617,169 1,613,260

CAPITAL AND RESERVES
Called up share capital 155 155
Other reserves 135,840 86,953
Retained earnings 1,481,174 1,526,152
SHAREHOLDERS' FUNDS 1,617,169 1,613,260

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 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.

MARK AND ROSE LIMITED (REGISTERED NUMBER: 07686443)

BALANCE SHEET - continued
31ST MARCH 2023


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 24th November 2023 and were signed by:





M C Hughes - Director


MARK AND ROSE LIMITED (REGISTERED NUMBER: 07686443)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023

1. STATUTORY INFORMATION

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

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 as modified by the revaluation of certain assets.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.

Preparation of consolidated financial statements
The financial statements contain information about Mark and Rose 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.

Turnover
Turnover for the year represents the following, stated net of value added tax where applicable:

- rental income receivable;
- consultancy fees receivable; and
- dividend income generated from investments.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost.

Investment property
Investment properties are accounted for where fair value can be measured reliably at each reporting date with changes in fair value recognised in profit or loss. No formal valuation has taken place during the year by a professional independent valuer. The current fair value is based on a recognised valuation model.

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.


MARK AND ROSE LIMITED (REGISTERED NUMBER: 07686443)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

2. ACCOUNTING POLICIES - continued
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 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.

Investments
Investments in associated undertakings are shown at cost less any provision for impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1st April 2022
and 31st March 2023 1,049
DEPRECIATION
At 1st April 2022 512
Charge for year 107
At 31st March 2023 619
NET BOOK VALUE
At 31st March 2023 430
At 31st March 2022 537

5. FIXED ASSET INVESTMENTS

2023 2022
£    £   
Shares in group undertakings 100 100
Participating interests 179 179
Loans to undertakings in which the company
has a participating interest

348,999

444,534
Other investments not loans 4,165 4,165
353,443 448,978

MARK AND ROSE LIMITED (REGISTERED NUMBER: 07686443)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

5. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Shares in Interest Interest
group in joint in Other
undertakings venture associate investments Totals
£    £    £    £    £   
COST
At 1st April 2022
and 31st March 2023 100 1 178 4,165 4,444
NET BOOK VALUE
At 31st March 2023 100 1 178 4,165 4,444
At 31st March 2022 100 1 178 4,165 4,444
Loans to
Loans to joint
associates ventures Totals
£    £    £   
At 1st April 2022 95,535 348,999 444,534
Repayment in year (95,535 ) - (95,535 )
At 31st March 2023 - 348,999 348,999

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2022 754,285
Revaluations 60,715
At 31st March 2023 815,000
NET BOOK VALUE
At 31st March 2023 815,000
At 31st March 2022 754,285

Fair value at 31st March 2023 is represented by:
£   
Valuation in 2021 95,886
Valuation in 2023 60,715
Cost 658,399
815,000

If investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 658,399 658,399

Investment properties were valued on an open market basis on 31st March 2023 by Mr M C Hughes, the director. .

MARK AND ROSE LIMITED (REGISTERED NUMBER: 07686443)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 151,602 150,900
Amounts owed by associates 135,000 -
286,602 150,900

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to associates 380 380
Corporation tax 7,630 8,913
Social security and other taxes - 726
Other creditors 28 28
Directors' current accounts 8,357 18,954
Accruals and deferred income 1,830 1,800
18,225 30,801

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2023 and 31st March 2022:

2023 2022
£    £   
M C Hughes
Balance outstanding at start of year - 108,931
Amounts repaid - (108,931 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MARK AND ROSE 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 Statement of Comprehensive Income 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 Mark and Rose Limited for the year ended 31st March 2023 which comprise the Statement of Comprehensive Income, 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 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 director of Mark and Rose Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mark and Rose Limited and state those matters that we have agreed to state to the director of Mark and Rose Limited 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 Mark and Rose Limited and its director for our work or for this report.

It is your duty to ensure that Mark and Rose 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 Mark and Rose Limited. You consider that Mark and Rose 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 Mark and Rose 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.






Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN


24th November 2023