Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-31Property development, management and consultancy.false2022-09-01false14truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03285817 2022-09-01 2023-08-31 03285817 2021-09-01 2022-08-31 03285817 2023-08-31 03285817 2022-08-31 03285817 2021-09-01 03285817 2 2021-09-01 2022-08-31 03285817 d:Director2 2022-09-01 2023-08-31 03285817 e:FurnitureFittings 2022-09-01 2023-08-31 03285817 e:FurnitureFittings 2023-08-31 03285817 e:FurnitureFittings 2022-08-31 03285817 e:OfficeEquipment 2022-09-01 2023-08-31 03285817 e:OfficeEquipment 2023-08-31 03285817 e:OfficeEquipment 2022-08-31 03285817 e:CurrentFinancialInstruments 2023-08-31 03285817 e:CurrentFinancialInstruments 2022-08-31 03285817 e:CurrentFinancialInstruments e:WithinOneYear 2023-08-31 03285817 e:CurrentFinancialInstruments e:WithinOneYear 2022-08-31 03285817 e:ShareCapital 2022-09-01 2023-08-31 03285817 e:ShareCapital 2023-08-31 03285817 e:ShareCapital 2021-09-01 2022-08-31 03285817 e:ShareCapital 2022-08-31 03285817 e:ShareCapital 2021-09-01 03285817 e:CapitalRedemptionReserve 2022-09-01 2023-08-31 03285817 e:CapitalRedemptionReserve 2023-08-31 03285817 e:CapitalRedemptionReserve 2021-09-01 2022-08-31 03285817 e:CapitalRedemptionReserve 2022-08-31 03285817 e:CapitalRedemptionReserve 2021-09-01 03285817 e:CapitalRedemptionReserve 2 2021-09-01 2022-08-31 03285817 e:RetainedEarningsAccumulatedLosses 2022-09-01 2023-08-31 03285817 e:RetainedEarningsAccumulatedLosses 2023-08-31 03285817 e:RetainedEarningsAccumulatedLosses 2021-09-01 2022-08-31 03285817 e:RetainedEarningsAccumulatedLosses 2022-08-31 03285817 e:RetainedEarningsAccumulatedLosses 2021-09-01 03285817 e:RetainedEarningsAccumulatedLosses 2 2021-09-01 2022-08-31 03285817 d:OrdinaryShareClass1 2022-09-01 2023-08-31 03285817 d:OrdinaryShareClass1 2023-08-31 03285817 d:OrdinaryShareClass1 2022-08-31 03285817 d:FRS102 2022-09-01 2023-08-31 03285817 d:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 03285817 d:FullAccounts 2022-09-01 2023-08-31 03285817 d:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 03285817 f:PoundSterling 2022-09-01 2023-08-31 xbrli:shares iso4217:GBP xbrli:pure
Company registration number: 03285817











________________________________________________________________________________________


MARGAUX DEVELOPMENTS LIMITED

________________________________________________________________________________________



UNAUDITED

ANNUAL REPORT

INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 
31 AUGUST 2023

 
MARGAUX DEVELOPMENTS LIMITED
REGISTERED NUMBER:03285817

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 5 
2
2

  
2
2

Current assets
  

Current asset investments
 6 
1,539,471
307,133

Cash at bank and in hand
  
424,211
1,263,219

  
1,963,682
1,570,352

Creditors: amounts falling due within one year
 7 
(461,792)
(297,971)

Net current assets
  
 
 
1,501,890
 
 
1,272,381

Total assets less current liabilities
  
1,501,892
1,272,383

  

Net assets
  
1,501,892
1,272,383


Capital and reserves
  

Called up share capital 
 8 
1
1

Capital redemption reserve
 9 
1
1

Profit and loss account
 9 
1,501,890
1,272,381

  
1,501,892
1,272,383


Page 1

 
MARGAUX DEVELOPMENTS LIMITED
REGISTERED NUMBER:03285817
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements on pages 1 to 9 were approved and authorised for issue by the board and were signed on its behalf on 12 August 2024.




T D K Simond
Director

Page 2

 
MARGAUX DEVELOPMENTS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2023


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£


At 1 September 2021
2
-
(83,807)
(83,805)


Comprehensive income for the year

Profit for the year
-
-
2,482,502
2,482,502
Total comprehensive income for the year
-
-
2,482,502
2,482,502


Contributions by and distributions to owners

Purchase of own shares
-
-
(1,126,314)
(1,126,314)

Cancellation of share
(1)
1
-
-



At 1 September 2022
1
1
1,272,381
1,272,383


Comprehensive income for the year

Profit for the year
-
-
229,509
229,509
Total comprehensive income for the year
-
-
229,509
229,509


Total transactions with owners
-
-
-
-


At 31 August 2023
1
1
1,501,890
1,501,892


Page 3

 
MARGAUX DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.Accounting policies

 
1.1

Statement of compliance

The principal activity of the Company during the year continued to be that of property development, management and consultancy.
Margaux Developments Limited is a private company limited by shares and is incorporated and domiciled in England and Wales. The address of its registered office is 15 Whitehall, London, SW1A 2DD.

  
1.2

Basis of preparation

The financial statements have been prepared in accordance with United Kingdom Accounting Standards, including Section 1A 'Small Entities' of Financial Reporting Standard 102, ‘the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland’ (“FRS 102”) and the Companies Act 2006.  The financial statements have been prepared under the historical cost convention.
The preparation of financial statements requires the use of certain critical accounting estimates.  It also requires management to exercise its judgement in the process of applying the Company's accounting policies.  The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in note 2.

  
1.3

Turnover

Revenue is recognised to the extent that the Company obtains the right to consideration in exchange for its performance.  Revenue is measured at the fair value of the consideration received or receivable, net of discounts, rebates and value added tax.  The following criteria must also be met before revenue is recognised:

Interest income
Revenue is recognised as interest accrues using the effective interest method.

Page 4

 
MARGAUX DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.Accounting policies (continued)

  
1.4

Taxation

Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is recognised in the Profit and Loss Account. Current or deferred taxation assets and liabilities are not discounted.
Current tax
Current tax is the amount of corporation tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.
Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.
 
Deferred tax
Deferred tax arises from timing differences that are differences between taxable profits and profit on ordinary activities before taxation as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax is recognised on all timing differences at the reporting date except for certain exceptions. Unrelieved tax losses and other deferred tax assets are only 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 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.

Page 5

 
MARGAUX DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.Accounting policies (continued)

  
1.5

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.  Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use and dismantling and restoration costs.
 
Depreciation is calculated, using the straight line method, to allocate the cost of assets less their residual value over their estimated useful lives, as follows:
                Fixtures & fittings - 5 years
                Office equipment - 3 years
The assets’ residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.  The effect of any change is accounted for prospectively.
Subsequent costs are included in the assets’ carrying amount or recognised as a separate asset, as appropriate, only when it is probable that economic benefits associated with the item will flow to the Company and the cost can be measured reliably.  Repairs and maintenance costs are expensed as incurred.
Tangible fixed assets are derecognised on disposal or when no future economic benefits are expected.  On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the Profit and Loss Account and included in ‘administrative expenses’.

  
1.6

Investments

Investments in subsidiaries are measured at cost less accumulated impairment.  Unlisted investments are measured at cost plus any accrued interest less accumulated impairment.

  
1.7

Financial instruments

The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.
Short term debtors and creditors
Debtors and creditors receivable or payable within one year are recorded at transaction price.  Any losses arising from impairment are recognised in the Profit and Loss Account in ‘administrative expenses’.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.
Offsetting
Financial assets and liabilities are offset and 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 settle the liability simultaneously.

Page 6

 
MARGAUX DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.Accounting policies (continued)

  
1.8

Share capital

Ordinary shares are classified as equity.

  
1.9

Foreign currency translation

Functional and presentation currency
The company's functional and presentation currency is the pound sterling.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.  At each period end foreign currency monetary items are translated using the closing rate. Non monetary items measured at historical cost are translated using the exchange rate at the date of the transaction.  Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Profit and Loss Account.
Foreign exchange gains and losses that relate to cash and cash equivalents are presented in the Profit and Loss Account within 'interest receivable or similar income' or 'interest payable or similar income'. All other foreign exchange gains and losses are presented in the Profit and Loss Account under the heading to which they relate.

  
1.10

Related party transactions

The Company discloses transactions with related parties which are not wholly owned within the same group. It does not disclose transactions with members of the same group that are wholly owned. Where appropriate, transactions of a similar nature are aggregated unless, in the opinion of the directors separate disclosure is necessary to understand the effect of the transactions on the Company’s financial statements.

  
1.11

Small group

The Company and its subsidiary form a small group. The Company is therefore not required to produce consolidated financial statements and has not done so. These financial statements present information about the Company as a single entity. 


2.


Judgements in applying accounting policies and key sources of estimation uncertainty

In preparing the financial statements management are required to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year.  However, the nature of estimation means that actual outcomes could differ from these estimates. Whilst management have made judgements, estimates and assumptions in preparing the financial statements, they consider that these have not had a significant effect on amounts recognised.

Page 7

 
MARGAUX DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 4).


4.


Tangible fixed assets





Fixtures & fittings
Office equipment
Total

£
£
£



Cost


At 1 September 2022
37,587
27,939
65,526


Disposals
(37,587)
(27,939)
(65,526)



At 31 August 2023

-
-
-





At 1 September 2022
37,587
27,939
65,526


Disposals
(37,587)
(27,939)
(65,526)



At 31 August 2023

-
-
-



Net book value



At 31 August 2023
-
-
-



At 31 August 2022
-
-
-


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 September 2022
2



At 31 August 2023
2




Page 8

 
MARGAUX DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

6.


Current asset investments

2023
2022
£
£

Unlisted investments
1,539,471
307,133



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
24,112
8,713

Amounts owed to group undertakings
44,454
263,480

Other creditors
383,875
-

Accruals and deferred income
9,351
25,778

461,792
297,971


Included in other creditors is a balance of £383,875 (2022 - £nil) due to one of the directors. The balance is interest free and repayable on demand.


8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1

There is a single class of ordinary shares. There are no restrictions on the distribution of dividends and the repayment of capital.



9.


Reserves

Capital redemption reserve
The capital redemption reserve holds the nominal value of shares repurchased by the Company and cancelled.
Profit and loss account
The profit and loss account is a distributable reserve.

 
Page 9