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Registration number: 08086335

Keith Marley Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Keith Marley Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Keith Marley Limited

Company Information

Directors

Mr Keith Anthony Marley

Mrs Karen Elizabeth Marley

Company secretary

Mrs Karen Elizabeth Marley

Registered office

The Laurels
Beggars Lane
Longworth
Abingdon
OX13 5BL

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Keith Marley Limited

(Registration number: 08086335)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

1,982

-

Investment property

6

820,000

820,000

 

821,982

820,000

Current assets

 

Debtors

7

70,233

71,704

Cash at bank and in hand

 

76,190

36,858

 

146,423

108,562

Creditors: Amounts falling due within one year

8

(77,865)

(123,293)

Net current assets/(liabilities)

 

68,558

(14,731)

Total assets less current liabilities

 

890,540

805,269

Creditors: Amounts falling due after more than one year

8

(238,875)

(394,367)

Provisions for liabilities

(6,720)

(6,720)

Net assets

 

644,945

404,182

Capital and reserves

 

Called up share capital

2

2

Revaluation reserve

28,650

28,650

Retained earnings

616,293

375,530

Shareholders' funds

 

644,945

404,182

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.

Directors' 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 directors acknowledge their 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.

Approved and authorised by the Board on 4 August 2023 and signed on its behalf by:
 

 

Keith Marley Limited

(Registration number: 08086335)
Balance Sheet as at 31 March 2023 (continued)

.........................................
Mr Keith Anthony Marley
Director

.........................................
Mrs Karen Elizabeth Marley
Company secretary and director

 

Keith Marley 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:
The Laurels
Beggars Lane
Longworth
Abingdon
OX13 5BL

These financial statements were authorised for issue by the Board on 4 August 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 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 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change 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.

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.

 

Keith Marley Limited

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

2

Accounting policies (continued)

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:

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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 subsequently measured at amortised cost using the effective interest method.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Keith Marley Limited

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

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

661

-

 

Keith Marley Limited

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

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

2,643

2,643

At 31 March 2023

2,643

2,643

Depreciation

Charge for the year

661

661

At 31 March 2023

661

661

Carrying amount

At 31 March 2023

1,982

1,982

6

Investment properties

2023
£

At 1 April

820,000

At 31 March

820,000

The fair value of the property at 31st March 2022 has been arrived at on the basis of a valuation carried out at that date by the director of the company, who is not a professionally qualified valuer. The valuation of £820,000 was arrived at by reference to the market evidence of transaction prices for similar properties in its location the property is situated.

7

Debtors

Current

2023
£

2022
£

Trade debtors

65,609

71,704

Prepayments

475

-

Other debtors

4,149

-

 

70,233

71,704

 

Keith Marley Limited

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

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

14,530

85,169

Taxation and social security

57,301

32,442

Accruals and deferred income

2,400

3,606

Other creditors

3,634

2,076

77,865

123,293

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

238,875

394,367

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

238,875

394,367