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Martyn Prowel Property Limited

Financial Statements for the Period 10 March 2022 to 31 March 2023






Martyn Prowel Property Limited

Company Information
for the Period 10 March 2022 to 31 March 2023







DIRECTORS: J G Lynch
C A Rockey





REGISTERED OFFICE: The Aspect
140 Queen Street
Cardiff
CF10 2GL





REGISTERED NUMBER: 13967358 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Martyn Prowel Property Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Martyn Prowel Property Limited for the period ended 31 March 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Martyn Prowel Property Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Martyn Prowel Property Limited and state those matters that we have agreed to state to the Board of Directors of Martyn Prowel Property Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Martyn Prowel Property Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Martyn Prowel Property Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Martyn Prowel Property Limited. You consider that Martyn Prowel Property Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Martyn Prowel Property 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 financial statements.






BPU Limited
Chartered Accountants


8 March 2024

Martyn Prowel Property Limited (Registered number: 13967358)

Balance Sheet
31 March 2023

Notes £    £   
FIXED ASSETS
Investment property 4 538,480

CURRENT ASSETS
Debtors 5 7,510
Cash at bank 19,794
27,304
CREDITORS
Amounts falling due within one year 6 29,741
NET CURRENT LIABILITIES (2,437 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

536,043

CREDITORS
Amounts falling due after more than
one year

7

530,805
NET ASSETS 5,238

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings 5,138
SHAREHOLDERS' FUNDS 5,238

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 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.

Martyn Prowel Property Limited (Registered number: 13967358)

Balance Sheet - continued
31 March 2023


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 8 March 2024 and were signed on its behalf by:





J G Lynch - Director


Martyn Prowel Property Limited (Registered number: 13967358)

Notes to the Financial Statements
for the Period 10 March 2022 to 31 March 2023


1. STATUTORY INFORMATION

Martyn Prowel Property 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the period 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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

Martyn Prowel Property Limited (Registered number: 13967358)

Notes to the Financial Statements - continued
for the Period 10 March 2022 to 31 March 2023


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 538,480
At 31 March 2023 538,480
NET BOOK VALUE
At 31 March 2023 538,480

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors & prepayments 7,510

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Bank loans and overdrafts 23,095
Taxes & social security costs 6,646
29,741

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
£   
Bank loans 430,905
Other creditors 99,900
530,805

8. SECURED DEBTS

The following secured debts are included within creditors:

£   
Bank loans 454,000

Bank loans are secured by a fixed and floating charge over the assets of the company.