Marchand Petit Holdings Limited 05042618 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of the letting of owned real estate. Digita Accounts Production Advanced 6.30.9574.0 true true true 05042618 2023-01-01 2023-12-31 05042618 2023-12-31 05042618 core:CurrentFinancialInstruments 2023-12-31 05042618 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 05042618 core:Non-currentFinancialInstruments 2023-12-31 05042618 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 05042618 core:LandBuildings core:LongLeaseholdAssets 2023-12-31 05042618 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 05042618 1 2023-12-31 05042618 bus:SmallEntities 2023-01-01 2023-12-31 05042618 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 05042618 bus:FilletedAccounts 2023-01-01 2023-12-31 05042618 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05042618 bus:RegisteredOffice 2023-01-01 2023-12-31 05042618 bus:Director1 2023-01-01 2023-12-31 05042618 bus:Director2 2023-01-01 2023-12-31 05042618 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05042618 core:LandBuildings core:LongLeaseholdAssets 2023-01-01 2023-12-31 05042618 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05042618 1 2023-01-01 2023-12-31 05042618 countries:EnglandWales 2023-01-01 2023-12-31 05042618 1 2023-01-01 2023-12-31 05042618 2022-12-31 05042618 core:LandBuildings core:LongLeaseholdAssets 2022-12-31 05042618 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 05042618 1 2022-12-31 05042618 2022-01-01 2022-12-31 05042618 2022-12-31 05042618 core:CurrentFinancialInstruments 2022-12-31 05042618 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 05042618 core:Non-currentFinancialInstruments 2022-12-31 05042618 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 05042618 core:LandBuildings core:LongLeaseholdAssets 2022-12-31 05042618 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 05042618

Marchand Petit Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Marchand Petit Holdings Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Marchand Petit Holdings Limited

(Registration number: 05042618)
Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,025,302

1,024,378

Current assets

 

Debtors

6

866

62

Cash at bank and in hand

 

423

43,935

 

1,289

43,997

Creditors: Amounts falling due within one year

7

(66,760)

(50,015)

Net current liabilities

 

(65,471)

(6,018)

Total assets less current liabilities

 

959,831

1,018,360

Creditors: Amounts falling due after more than one year

7

-

(95,665)

Net assets

 

959,831

922,695

Capital and reserves

 

Called up share capital

540

540

Share premium reserve

269,460

269,460

Capital redemption reserve

260

260

Profit and loss account

689,571

652,435

Shareholders' funds

 

959,831

922,695

 

Marchand Petit Holdings Limited

(Registration number: 05042618)
Statement of Financial Position as at 31 December 2023 (continued)

For the financial year ending 31 December 2023 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 Statement of Comprehensive Income.

Approved and authorised by the Board on 1 August 2024 and signed on its behalf by:
 


Mr P Gardner
Director


Mr S J Cartwright
Director

 

Marchand Petit Holdings Limited

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

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:
Mount Joy 4 Higher Warren Rd
Kingsbridge
Devon
TQ7 1LG

Principal activity

The principal activity of the company is that of the letting of owned real estate.

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 entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Marchand Petit Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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.

Tax

The tax expense for the period comprises current 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.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Investment property

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

 

Marchand Petit Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Land and buildings
£

Long leasehold land and buildings
£

Total
£

Cost or valuation

At 1 January 2023

660,618

363,760

1,024,378

Additions

924

-

924

At 31 December 2023

661,542

363,760

1,025,302

Depreciation

Carrying amount

At 31 December 2023

661,542

363,760

1,025,302

At 31 December 2022

660,618

363,760

1,024,378

Included within the net book value of land and buildings above is £661,542 (2022 - £660,618) in respect of freehold land and buildings and £363,760 (2022 - £363,760) in respect of long leasehold land and buildings.
 

 

Marchand Petit Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

5

Investment properties

As at 31 December 2023 the directors consider there to be no material difference between the cost price of the investment properties and the market value.

6

Debtors

2023
£

2022
£

Trade debtors

749

-

Prepayments

117

62

866

62

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Loans and borrowings

9

-

32,750

Trade creditors

 

62

-

Taxation and social security

 

10,373

10,328

Accruals and deferred income

 

6,325

6,937

Other creditors

 

50,000

-

 

66,760

50,015

The bank loan is secured.

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Loans and borrowings

9

-

95,665


The bank loan is secured.

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

Marchand Petit Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

-

95,665

Current loans and borrowings

2023
£

2022
£

Bank borrowings

-

32,750

10

Related party transactions

Transactions with directors

During the year the directors entered into the following advances and credits with the company:

2023

At 1 January 2023
£

Advances / (credits) to director
£

Repayments to / (by) director
£

At 31 December 2023
£

Directors

-

(80,000)

30,000

(50,000)

         
       

 

11

Controlling party

The ultimate holding company of this company throughout the reporting period was Marchand Petit
Property Limited which is registered in England and Wales.