Registered number
01684712
Margaux Investments Limited
Filleted Accounts
31 October 2023
Margaux Investments Limited
Registered number: 01684712
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 150,000 150,000
Current assets
Cash at bank and in hand 55,390 35,891
Creditors: amounts falling due within one year 4 (68,319) (67,619)
Net current liabilities (12,929) (31,728)
Total assets less current liabilities 137,071 118,272
Provisions for liabilities (6,973) (6,973)
Net assets 130,098 111,299
Capital and reserves
Called up share capital 100 100
Revaluation reserve 5 36,702 36,702
Profit and loss account 93,296 74,497
Shareholders' funds 130,098 111,299
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr R E Cobbledick
Director
Approved by the board on 19 February 2024
Margaux Investments Limited
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Investments
Other
investments
£
Cost
At 1 November 2022 150,000
At 31 October 2023 150,000
Other investments is a rental property. It is not practical or cost effective for the property to be revalued. There is a possibility that the property will be sold in the near future. The sum of £150,000 was the deemed cost on transition to FRS 102.
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 4,182 4,082
Taxation and social security costs 4,410 3,810
Other creditors 59,727 59,727
68,319 67,619
5 Revaluation reserve 2023 2022
£ £
At 1 November 2022 36,702 36,702
At 31 October 2023 36,702 36,702
6 Related party transactions
Mr Cobbledick has a director's loan with the company. The loan is interest free and repayable on demand. The amount at the balance sheet date was £59,727.
7 Controlling party
The controlling party is Mr R E Cobbledick as he owns 99% of the ordinary shares.
8 Other information
Margaux Investments Limited is a private company limited by shares and incorporated in England. Its registered office is:
Stoneybridge House
Tywardreath
Par
Cornwall
PL24 2TY
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