Company Registration No. 05368268 (England and Wales)
Heritage Property Marske Limited
Unaudited accounts
for the year ended 31 May 2023
Heritage Property Marske Limited
Unaudited accounts
Contents
Heritage Property Marske Limited
Company Information
for the year ended 31 May 2023
Company Number
05368268 (England and Wales)
Registered Office
Marske Stables,
Marske Hall
Marske
Yorkshire
DL11 7NB
England
Accountants
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
Heritage Property Marske Limited
Accountants' report
Accountants' report to the director of Heritage Property Marske Limited on the preparation of the unaudited statutory accounts for the year ended 31 May 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Heritage Property Marske Limited for the year ended
31 May 2023 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Heritage Property Marske Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Heritage Property Marske Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Heritage Property Marske Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Heritage Property Marske Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Heritage Property Marske Limited. You consider that Heritage Property Marske 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 accounts of Heritage Property Marske 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 accounts.
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
15 December 2023
Heritage Property Marske Limited
Statement of financial position
as at 31 May 2023
Inventories
666,566
383,027
Cash at bank and in hand
89
50
Creditors: amounts falling due within one year
(526,682)
(385,633)
Net current assets
210,834
70,494
Total assets less current liabilities
210,834
70,494
Creditors: amounts falling due after more than one year
(310,279)
(168,855)
Net liabilities
(99,445)
(98,361)
Called up share capital
100
100
Profit and loss account
(99,545)
(98,461)
Shareholders' funds
(99,445)
(98,361)
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 February 2024 and were signed on its behalf by
Ian Morton
Director
Company Registration No. 05368268
Heritage Property Marske Limited
Notes to the Accounts
for the year ended 31 May 2023
Heritage Property Marske Limited is a private company, limited by shares, registered in England and Wales, registration number 05368268. The registered office is Marske Stables,, Marske Hall, Marske, Yorkshire, DL11 7NB, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Work in progress
666,566
383,027
Assets valued at £38,376, previously reported as investment property in 2020, have now been restated as work-in-progress.
Amounts falling due within one year
Accrued income and prepayments
70,861
73,050
6
Creditors: amounts falling due within one year
2023
2022
Other creditors
211,619
211,283
Loans from directors
314,415
173,750
Heritage Property Marske Limited
Notes to the Accounts
for the year ended 31 May 2023
7
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
268,055
120,498
In the year ended 31 May 2022, the company received a Bounce Back Loan of £50,000, which is a 100% UK Government backed loan.
Under the terms of the loan, the fees and interest incurred in the first 12 months are settled on behalf of the company by the UK Government.
After the first 12 months, an interest rate of 2.5% is applicable.
The initial length of the loan is for six years, with an option to extend to ten years under the Bounce Back Loan Scheme.
8
Transactions with related parties
Included in current assets is a balance of £70,861 (2022 - £73,050) owed by Richmond Building and Maintenance, a related company. No interest has been charged and the loan is repayable on demand.
Included in current liabilities is a balance of £211,283 (2022 - £211,283) owed to Heritage Apartments, a related company. No interest has been charged and the loan is repayable on demand.
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).