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REGISTERED NUMBER: 10517972 (England and Wales)















Malard Investments Limited

Unaudited Financial Statements for the Year Ended 31 December 2023






Malard Investments Limited (Registered number: 10517972)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Malard Investments Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr M B Allitt
Mr L J Allitt





REGISTERED OFFICE: Drury Lane
Ponswood Industrial Estate
St. Leonards-On-Sea
East Sussex
TN38 9XP





REGISTERED NUMBER: 10517972 (England and Wales)





ACCOUNTANTS: Swindells LLP
Chartered Accountants
Atlantic House
8 Bell Lane
Bellbrook Industrial Estate
Uckfield
East Sussex
TN22 1QL

Malard Investments Limited (Registered number: 10517972)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,453,604 2,453,604

CURRENT ASSETS
Debtors 5 22,759 20,089
Cash at bank 41,752 82,132
64,511 102,221
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

6

1,114,149

340,471
NET CURRENT LIABILITIES (1,049,638 ) (238,250 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,403,966

2,215,354

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

7

(565,225

)

(1,399,491

)

PROVISIONS FOR LIABILITIES (130,666 ) (132,425 )
NET ASSETS 708,075 683,438

CAPITAL AND RESERVES
Called up share capital 9 300 300
Fair value reserve 10 541,064 541,064
Retained earnings 166,711 142,074
708,075 683,438

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

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

Malard Investments Limited (Registered number: 10517972)

Balance Sheet - continued
31 December 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 10 April 2024 and were signed on its behalf by:





Mr L J Allitt - Director


Malard Investments Limited (Registered number: 10517972)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Malard Investments 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Investment property
Investment property is shown at fair value at each reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss

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.

Deferred tax in respect of movements in the fair value of investment properties is recognised in the Profit and Loss Account, with an equal amount transferred from the Profit and Loss Reserve to the Fair Value Reserve.

Malard Investments Limited (Registered number: 10517972)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Revenue recognition
Revenue in respect of rental income from investment properties is recognised in accordance with the lease or rental agreement on an accruals basis.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 2,453,604
NET BOOK VALUE
At 31 December 2023 2,453,604
At 31 December 2022 2,453,604

The investment property fair value of £2,453,604 (2022 - £2,453,604) was determined by the directors.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 21,726 -
Other debtors 1,033 20,089
22,759 20,089

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 824,755 38,487
Trade creditors 27 4,490
Taxation and social security 4,943 -
Other creditors 284,424 297,494
1,114,149 340,471

Malard Investments Limited (Registered number: 10517972)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 181,332 1,008,398
Other creditors 383,893 391,093
565,225 1,399,491

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,006,087 1,046,885

Bank borrowings are secured by way of a charge over the investment property together with a floating charge over the assets of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
75 Ordinary A £1 75 75
75 Ordinary B £1 75 75
75 Ordinary C £1 75 75
75 Ordinary D £1 75 75
300 300


10. RESERVES
Fair
value
reserve
£   
At 1 January 2023
and 31 December 2023 541,064

Malard Investments Limited (Registered number: 10517972)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. RELATED PARTY DISCLOSURES

During the year, the company received advances totalling £3,305 (2022 - £118,896) from Iberian Lighting Ltd, a company with common directors, and made repayments totalling £10,505 (2022 - £36,353). At the year end, the company owed Iberian Lighting Limited £383,893 (2022 - £391.093) This loan is unsecured and interest free.

At the balance sheet date the company owed the directors amounts totalling £249,694 (2022 - £249,694). The balance is interest free, unsecured and repayable on demand.

During the year the company paid dividends to the directors totalling £4,000 (2022 - £4.000).