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REGISTERED NUMBER: 04708721 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

FOR

MARSDEN AND LATHOM PROPERTY COMPANY LTD

MARSDEN AND LATHOM PROPERTY COMPANY LTD (REGISTERED NUMBER: 04708721)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MARSDEN AND LATHOM PROPERTY COMPANY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: G M Wilson
R A Chambers



SECRETARY: G M Wilson



REGISTERED OFFICE: Blacksmith's Cottage
Aislaby
Pickering
North Yorkshire
YO18 8PE



REGISTERED NUMBER: 04708721 (England and Wales)



ACCOUNTANTS: Chandley Robinson Limited
Chartered Accountants
8A Manor Close
Cheadle Hulme
CHEADLE
Cheshire
SK8 7DJ



BANKERS: Lloyds TSB Bank plc
2-6 Market Street
WIGAN
WN1 1JN

MARSDEN AND LATHOM PROPERTY COMPANY LTD (REGISTERED NUMBER: 04708721)

STATEMENT OF FINANCIAL POSITION
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 815
Investment property 5 - 200,000
- 200,815

CURRENT ASSETS
Debtors 6 620 1,065
Cash at bank 47,988 41,398
48,608 42,463
CREDITORS
Amounts falling due within one year 7 36,116 43,467
NET CURRENT ASSETS/(LIABILITIES) 12,492 (1,004 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,492

199,811

CREDITORS
Amounts falling due after more than one
year

8

-

198,217
NET ASSETS 12,492 1,594

CAPITAL AND RESERVES
Called up share capital 600 600
Fair value reserve 10 - (115,045 )
Retained earnings 11,892 116,039
SHAREHOLDERS' FUNDS 12,492 1,594

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

MARSDEN AND LATHOM PROPERTY COMPANY LTD (REGISTERED NUMBER: 04708721)

STATEMENT OF FINANCIAL POSITION - continued
31ST MARCH 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9th August 2024 and were signed on its behalf by:




G M Wilson - Director



R A Chambers - Director


MARSDEN AND LATHOM PROPERTY COMPANY LTD (REGISTERED NUMBER: 04708721)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

Marsden and Lathom Property Company Ltd 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of rents received.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Investment property
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs.

Subsequently investment properties are measured at fair value. Investment property valuations are based on open market value. Gains and losses arising from changes in the fair value of investment properties are included in the Statement of Income and Retained Earnings in the period in which they arise.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

MARSDEN AND LATHOM PROPERTY COMPANY LTD (REGISTERED NUMBER: 04708721)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1st April 2023 6,444
Disposals (6,444 )
At 31st March 2024 -
DEPRECIATION
At 1st April 2023 5,629
Eliminated on disposal (5,629 )
At 31st March 2024 -
NET BOOK VALUE
At 31st March 2024 -
At 31st March 2023 815

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023 200,000
Disposals (310,045 )
Fair value revaluation 110,045
At 31st March 2024 -
NET BOOK VALUE
At 31st March 2024 -
At 31st March 2023 200,000

Fair value at 31st March 2024 is represented by:
£   

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 620 1,065

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 36,116 43,467

MARSDEN AND LATHOM PROPERTY COMPANY LTD (REGISTERED NUMBER: 04708721)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors - 198,217

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgages - 216,020

The company's mortgage is secured against the investment property.

10. RESERVES
Fair
value
reserve
£   
At 1st April 2023 (115,045 )
Fair value adjustment 115,045

At 31st March 2024 -

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the financial year end the directors' current accounts were £21,425 (2022-£18,622) in credit. These are repayable on demand.




No other transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard for Smaller Entities.

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £4,000 (2023 - £4,000) were paid to the directors .

During the year each of the directors charged the company £260 (2023 - £260) for the use of his home as an office.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties of the company are Mr G W Wilson and Mr R A Chambers who are the sole directors and are shareholders in the company.