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COMPANY REGISTRATION NUMBER: 12197600
Marston Property Ltd
Filleted Unaudited Financial Statements
For the year ended
31 March 2023
Marston Property Ltd
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
Fixed assets
Investment property
4
352,820
352,820
Current assets
Debtors
5
26,822
19,422
Cash at bank and in hand
1,918
12,661
--------
--------
28,740
32,083
Creditors: amounts falling due within one year
6
11,192
12,562
--------
--------
Net current assets
17,548
19,521
---------
---------
Total assets less current liabilities
370,368
372,341
Creditors: amounts falling due after more than one year
7
172,532
180,401
---------
---------
Net assets
197,836
191,940
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
197,834
191,938
---------
---------
Shareholders funds
197,836
191,940
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Marston Property Ltd
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 29 March 2024 , and are signed on behalf of the board by:
R Critchley
Director
Company registration number: 12197600
Marston Property Ltd
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 2, Marston Business Park, Lower Hazeldines, Marston Moretaine, Bedfordshire, MK43 0XT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of rental income receivable, excluding value added tax, accounted for on an accruals basis.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Investment property
Investment properties are initially recorded at cost, and subsequently measured at fair value with any gains or losses recognised through profit or loss.
4. Investment property
Investment property
£
Cost
At 1 April 2022 and 31 March 2023
352,820
---------
Impairment
At 1 April 2022 and 31 March 2023
---------
Carrying amount
At 31 March 2023
352,820
---------
At 31 March 2022
352,820
---------
The director is satisfied that the fair value of the investment property is not materially different to its stated cost.
5. Debtors
2023
2022
£
£
Other debtors
26,822
19,422
--------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
7,831
7,580
Trade creditors
1,751
Social security and other taxes
1,761
1,756
Other creditors
1,600
1,475
--------
--------
11,192
12,562
--------
--------
The bank loan of £7,831 (2022: £7,580) is secured by way of a fixed charge held over the company's assets.
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
172,532
180,401
---------
---------
The bank loan of £172,532 (2022: £180,401) is secured by way of a fixed charge held over the company's assets.