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Registration number: 08988659

Archibald Marckay Property Limited

Unaudited Filleted Financial Statements

for the Period from 1 September 2022 to 30 August 2023

 

Archibald Marckay Property Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Archibald Marckay Property Limited

Company Information

Directors

Mrs CK Claydon

NM Claydon

Registered office

Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

Accountants

Boon and Worth Limited
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

 

Archibald Marckay Property Limited

(Registration number: 08988659)
Balance Sheet as at 30 August 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

626,779

1,156,779

Current assets

 

Debtors

5

525,539

207,629

Cash at bank and in hand

 

1,939

100,185

 

527,478

307,814

Creditors: Amounts falling due within one year

6

(730,790)

(889,781)

Net current liabilities

 

(203,312)

(581,967)

Total assets less current liabilities

 

423,467

574,812

Creditors: Amounts falling due after more than one year

6

(329,978)

(486,877)

Provisions for liabilities

(36,003)

(41,879)

Net assets

 

57,486

46,056

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

57,484

46,054

Shareholders' funds

 

57,486

46,056

 

Archibald Marckay Property Limited

(Registration number: 08988659)
Balance Sheet as at 30 August 2023

For the financial period ending 30 August 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 period 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 19 August 2024 and signed on its behalf by:
 

.........................................
Mrs CK Claydon
Director

.........................................
NM Claydon
Director

 
     
 

Archibald Marckay Property Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 30 August 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:
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS
England

These financial statements were authorised for issue by the Board on 19 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.

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.

Tax

The tax expense for the period comprises 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.

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.

 

Archibald Marckay Property Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 30 August 2023

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

Furniture

20% Straight line

Investment property

Investment property is shown at the most recent valuation, which the directors deem to be its fair value. Any agregate surplus or deficit arisong from changes in fair value is recognised in profit and 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

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

 

Archibald Marckay Property Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 30 August 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2022

1,505

1,505

At 30 August 2023

1,505

1,505

Depreciation

At 1 September 2022

1,505

1,505

At 30 August 2023

1,505

1,505

Carrying amount

At 30 August 2023

-

-

5

Debtors

Current

2023
£

2022
£

Trade debtors

-

401

Other debtors

525,539

207,228

 

525,539

207,629

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

546

1,560

Accruals and deferred income

1,559

1,559

Other creditors

728,685

886,662

730,790

889,781

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

329,978

486,877

 

Archibald Marckay Property Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 30 August 2023

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary share of £1 each

2

2

2

2

       

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

329,978

486,877

9

Related party transactions

Transactions with directors

2023

At 1 September 2022
£

Advances to director
£

At 30 August 2023
£

Directors' loan account

18,164

2,947

21,111

 

2022

At 1 September 2021
£

Advances to director
£

At 31 August 2022
£

Directors' loan account

11,664

6,500

18,164

 

Summary of transactions with other related parties

Archibald Marckay CommercialLimited

At the balance sheet date the amount due from Archibald Marckay Commercial Limited was £578,760 (2022 - £189,065). N Claydon and C Claydon are directors of this company.

Archibald Marckay Ltd

At the balance sheet date the amount due to Archibald Marckay Ltd was £727,093 (2022 - £885,070). N Claydon and C Claydon are directors of this company.