Company registration number 06435272 (England and Wales)
Marhar Investments Limited
Unaudited financial statements
For the year ended 30 November 2023
Pages for filing with registrar
MARHAR INVESTMENTS LIMITED
Marhar Investments Limited
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
MARHAR INVESTMENTS LIMITED
Marhar Investments Limited
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment properties
4
920,000
833,984
Investments
5
25,201
104,995
945,201
938,979
Current assets
Debtors
6
69,188
27,934
Cash at bank and in hand
101,054
151,817
170,242
179,751
Creditors: amounts falling due within one year
7
(37,138)
(37,216)
Net current assets
133,104
142,535
Total assets less current liabilities
1,078,305
1,081,514
Creditors: amounts falling due after more than one year
8
(271,428)
(290,444)
Provisions for liabilities
(10,004)
-
0
Net assets
796,873
791,070
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
796,773
790,970
Total equity
796,873
791,070

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

MARHAR INVESTMENTS LIMITED
Marhar Investments Limited
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2023
30 November 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 25 March 2024 and are signed on its behalf by:
H M Soning
Director
Company Registration No. 06435272
MARHAR INVESTMENTS LIMITED
Marhar Investments Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
1
Accounting policies
Company information

Marhar Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 72/75 Marylebone High Street, London, W1U 5JW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for rent net of VAT.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

 

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

 

Investments in quoted shares, is initially recognised at cost and subsequently measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

MARHAR INVESTMENTS LIMITED
Marhar Investments Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of

certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 0 (2022 - 0).

3
Taxation
2023
2022
£
£
Current tax
UK corporation tax on profits for the current period
2,348
2,473
Deferred tax
Origination and reversal of timing differences
10,004
-
0
Total tax charge
12,352
2,473
MARHAR INVESTMENTS LIMITED
Marhar Investments Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -
4
Investment property
2023
£
Fair value
At 1 December 2022
833,984
Revaluations
86,016
At 30 November 2023
920,000

The valuation of the investment property was made as at 30 November 2023 by the directors of the company on an open market basis, based on a recent independent valuation. On an historical basis the property would have been included at an original cost of £833,984.

 

 

5
Fixed asset investments
2023
2022
£
£
Investments
25,201
104,995
Movements in fixed asset investments
Investments other than loans
Other investments
Total
£
£
£
Cost or valuation
At 1 December 2022
104,995
-
104,995
Valuation changes
(79,794)
-
(79,794)
At 30 November 2023
25,201
-
25,201
Carrying amount
At 30 November 2023
25,201
-
25,201
At 30 November 2022
104,995
-
104,995
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
69,188
27,934
MARHAR INVESTMENTS LIMITED
Marhar Investments Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 6 -
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
19,017
19,017
Trade creditors
2,138
2,556
Corporation tax
2,308
2,473
Other taxation and social security
1,492
1,488
Other creditors
12,183
11,682
37,138
37,216

The aggregate amount of creditors for which security has been given amounted to £293,750 (2022: £314,750).

8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
271,428
290,444
9
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
100
100
10
Related party transactions

Included within other debtors are amounts of £45,000 (2022: £nil) owed by a related company. This relates to an interest free loan which is repayable on demand. This company is related as it shares common directors and common control with Marhar Investments Limited.

 

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