1 June 2022 false Taxfiler 2023.12 05368268business:PrivateLimitedCompanyLtd2022-06-012023-05-31 053682682022-05-31 053682682022-06-012023-05-31 05368268business:AuditExemptWithAccountantsReport2022-06-012023-05-31 05368268business:FilletedAccounts2022-06-012023-05-31 053682682023-05-31 05368268business:Director12022-06-012023-05-31 05368268business:RegisteredOffice2022-06-012023-05-31 053682682022-05-31 05368268core:WithinOneYear2023-05-31 05368268core:WithinOneYear2022-05-31 05368268core:AfterOneYear2023-05-31 05368268core:AfterOneYear2022-05-31 05368268core:ShareCapitalcore:PreviouslyStatedAmount2023-05-31 05368268core:ShareCapitalcore:PreviouslyStatedAmount2022-05-31 05368268core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-05-31 05368268core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-05-31 05368268core:PreviouslyStatedAmount2023-05-31 05368268core:PreviouslyStatedAmount2022-05-31 05368268business:SmallEntities2022-06-012023-05-31 05368268countries:EnglandWales2022-06-012023-05-31 05368268core:AfterOneYear2022-06-012023-05-31 053682682021-06-012022-05-31 iso4217:GBP xbrli:pure
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
Page
- 2 -
Heritage Property Marske Limited Company Information for the year ended 31 May 2023
Director
Ian Morton
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
- 3 -
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
- 4 -
Heritage Property Marske Limited Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Inventories
666,566 
383,027 
Debtors
70,861 
73,050 
Cash at bank and in hand
89 
50 
737,516 
456,127 
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)
Capital and reserves
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
- 5 -
Heritage Property Marske Limited Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Inventories
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.
4
Inventories
2023 
2022 
£ 
£ 
Work in progress
666,566 
383,027 
666,566 
383,027 
Assets valued at £38,376, previously reported as investment property in 2020, have now been restated as work-in-progress.
5
Debtors
2023 
2022 
£ 
£ 
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 
Accruals
648 
600 
526,682 
385,633 
- 6 -
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 
£ 
£ 
Bank loans
42,224 
48,357 
Other creditors
268,055 
120,498 
310,279 
168,855 
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).
- 7 -