Marnshaw Limited 02737936 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is owning, managing and leasing commercial property. Digita Accounts Production Advanced 6.30.9574.0 true 02737936 2023-04-01 2024-03-31 02737936 2024-03-31 02737936 core:RetainedEarningsAccumulatedLosses 2024-03-31 02737936 core:ShareCapital 2024-03-31 02737936 core:CurrentFinancialInstruments 2024-03-31 02737936 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 02737936 core:FurnitureFittingsToolsEquipment 2024-03-31 02737936 core:MotorVehicles 2024-03-31 02737936 core:OtherPropertyPlantEquipment 2024-03-31 02737936 bus:SmallEntities 2023-04-01 2024-03-31 02737936 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 02737936 bus:FilletedAccounts 2023-04-01 2024-03-31 02737936 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 02737936 bus:RegisteredOffice 2023-04-01 2024-03-31 02737936 bus:Director1 2023-04-01 2024-03-31 02737936 bus:Director2 2023-04-01 2024-03-31 02737936 bus:Director3 2023-04-01 2024-03-31 02737936 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 02737936 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 02737936 core:LeaseholdImprovements 2023-04-01 2024-03-31 02737936 core:MotorVehicles 2023-04-01 2024-03-31 02737936 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 02737936 countries:EnglandWales 2023-04-01 2024-03-31 02737936 2023-03-31 02737936 core:FurnitureFittingsToolsEquipment 2023-03-31 02737936 core:MotorVehicles 2023-03-31 02737936 core:OtherPropertyPlantEquipment 2023-03-31 02737936 2022-04-01 2023-03-31 02737936 2023-03-31 02737936 core:RetainedEarningsAccumulatedLosses 2023-03-31 02737936 core:ShareCapital 2023-03-31 02737936 core:CurrentFinancialInstruments 2023-03-31 02737936 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 02737936 core:FurnitureFittingsToolsEquipment 2023-03-31 02737936 core:MotorVehicles 2023-03-31 02737936 core:OtherPropertyPlantEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 02737936

Marnshaw Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

Pages for filing with Registrar

 

Marnshaw Limited

Contents


 

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Marnshaw Limited

Company Information


 

Directors

Mr AR Harrison

Mr JR Fairhurst

Mr PJ Harrison

Registered office

Suite 5
Marnshaw House
Warrington Lane
Lymm
Cheshire
WA13 0SW

 

Marnshaw Limited

(Registration number: 02737936)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

151,650

51,185

Investment property

5

4,284,198

4,405,684

 

4,435,848

4,456,869

Current assets

 

Debtors

6

62,856

109,469

Cash at bank and in hand

 

131,213

113,178

 

194,069

222,647

Creditors: Amounts falling due within one year

7

(822,131)

(1,243,282)

Net current liabilities

 

(628,062)

(1,020,635)

Total assets less current liabilities

 

3,807,786

3,436,234

Provisions for liabilities

(203,990)

(207,957)

Net assets

 

3,603,796

3,228,277

Capital and reserves

 

Called up share capital

100,000

100,000

Retained earnings

3,503,796

3,128,277

Shareholders' funds

 

3,603,796

3,228,277

 

Marnshaw Limited

(Registration number: 02737936)
Balance Sheet as at 31 March 2024 (continued)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 August 2024 and signed on its behalf by:
 

.........................................
Mr AR Harrison
Director

 

Marnshaw Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Suite 5
Marnshaw House
Warrington Lane
Lymm
Cheshire
WA13 0SW
England

These financial statements were authorised for issue by the Board on 6 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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 £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Marnshaw Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

20% Straight line

Fixtures, fittings, and equipment

10 - 33% Straight line

Property improvements

10% Straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Marnshaw Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Marnshaw Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Financial instruments

Classification
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. Financial instruments are recognised in the Company’s statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and liability simultaneously.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. As equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Marnshaw Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

4

Tangible assets

Fixtures, fittings, and equipment
£

Motor vehicles
 £

Property improvements
£

Total
£

Cost or valuation

At 1 April 2023

18,195

53,500

-

71,695

Additions

2,257

-

-

2,257

Transfers from investment property

-

-

121,486

121,486

At 31 March 2024

20,452

53,500

121,486

195,438

Depreciation

At 1 April 2023

12,485

8,025

-

20,510

Charge for the year

1,442

10,700

11,136

23,278

At 31 March 2024

13,927

18,725

11,136

43,788

Carrying amount

At 31 March 2024

6,525

34,775

110,350

151,650

At 31 March 2023

5,710

45,475

-

51,185

5

Investment properties

2024
£

At 1 April

4,405,684

Transfers to Tangible assets

(121,486)

At 31 March

4,284,198

The directors have not obtained formal revaluations of the properties during the year or in the prior year. In the opinion of the directors the costs of a professional revaluation outweigh the associated benefits. The directors do not believe that there has been a material change in the value of the portfolio.

 

Marnshaw Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

6

Debtors

Current

2024
£

2023
£

Trade debtors

1,258

4,041

Prepayments

21,081

14,601

Other debtors

40,517

90,827

 

62,856

109,469

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

4,474

84,990

Taxation and social security

62,072

18,859

Accruals and deferred income

64,037

167,096

Other creditors

691,548

972,337

822,131

1,243,282