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REGISTERED NUMBER: 06631160 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Market Inroads Limited

Market Inroads Limited (Registered number: 06631160)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Market Inroads Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: R Welland - Jones
Ms C Casey





REGISTERED OFFICE: 9 St George's Yard
Farnham
Surrey
GU9 7LW





REGISTERED NUMBER: 06631160 (England and Wales)





ACCOUNTANTS: Blackwood Futcher & Co.
Chartered Accountants
9 St George's Yard
Farnham
Surrey
GU9 7LW

Market Inroads Limited (Registered number: 06631160)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 931 -
Investments 5 50,000 -
Investment property 6 1,193,439 980,000
1,244,370 980,000

CURRENT ASSETS
Debtors 7 3,134 2,262
Cash at bank 122,635 397,606
125,769 399,868
CREDITORS
Amounts falling due within one year 8 2,280 14,322
NET CURRENT ASSETS 123,489 385,546
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,367,859

1,365,546

PROVISIONS FOR LIABILITIES 16,591 8,917
NET ASSETS 1,351,268 1,356,629

CAPITAL AND RESERVES
Called up share capital 2 2
Other reserves 97,388 64,673
Retained earnings 1,253,878 1,291,954
SHAREHOLDERS' FUNDS 1,351,268 1,356,629

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 August 2023 and were signed on its behalf by:





R Welland - Jones - Director


Market Inroads Limited (Registered number: 06631160)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Market Inroads 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost

Investment property
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

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.

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.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Market Inroads Limited (Registered number: 06631160)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 1,117
At 30 June 2023 1,117
DEPRECIATION
Charge for year 186
At 30 June 2023 186
NET BOOK VALUE
At 30 June 2023 931

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
30.6.23 30.6.22
£    £   
Motor vehicles 50,000 -

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022 980,000
Additions 173,050
Revaluations 40,389
At 30 June 2023 1,193,439
NET BOOK VALUE
At 30 June 2023 1,193,439
At 30 June 2022 980,000

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2017 7,380
Valuation in 2018 37,168
Valuation in 2021 16,044
Valuation in 2022 12,998
Valuation in 2023 40,389
Cost 1,079,460
1,193,439

The investment properties were last valued by the directors on an open market basis at 30 June 2023.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Other debtors 3,134 2,262

Market Inroads Limited (Registered number: 06631160)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 79 79
Taxation and social security - 4,489
Other creditors 2,201 9,754
2,280 14,322