IRIS Accounts Production v24.2.0.383 SC316007 Board of Directors Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3160072023-03-31SC3160072024-03-31SC3160072023-04-012024-03-31SC3160072022-03-31SC3160072022-04-012023-03-31SC3160072023-03-31SC316007ns15:Scotland2023-04-012024-03-31SC316007ns14:PoundSterling2023-04-012024-03-31SC316007ns10:Director12023-04-012024-03-31SC316007ns10:Director22023-04-012024-03-31SC316007ns10:PrivateLimitedCompanyLtd2023-04-012024-03-31SC316007ns10:SmallEntities2023-04-012024-03-31SC316007ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-31SC316007ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-31SC316007ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-31SC316007ns10:FullAccounts2023-04-012024-03-31SC316007ns10:CompanySecretary12023-04-012024-03-31SC316007ns10:RegisteredOffice2023-04-012024-03-31SC316007ns5:CurrentFinancialInstruments2024-03-31SC316007ns5:CurrentFinancialInstruments2023-03-31SC316007ns5:Non-currentFinancialInstruments2024-03-31SC316007ns5:Non-currentFinancialInstruments2023-03-31SC316007ns5:ShareCapital2024-03-31SC316007ns5:ShareCapital2023-03-31SC316007ns5:FurtherSpecificReserve3ComponentTotalEquity2024-03-31SC316007ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-31SC316007ns5:RetainedEarningsAccumulatedLosses2024-03-31SC316007ns5:RetainedEarningsAccumulatedLosses2023-03-31SC316007ns5:PlantMachinery2023-03-31SC316007ns5:PlantMachinery2023-04-012024-03-31SC316007ns5:PlantMachinery2024-03-31SC316007ns5:PlantMachinery2023-03-31SC316007ns5:CurrentFinancialInstruments2023-04-012024-03-31SC316007ns5:Secured2024-03-31SC316007ns5:Secured2023-03-31SC316007ns5:RetainedEarningsAccumulatedLosses2023-03-31SC316007ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-31SC316007ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-31
REGISTERED NUMBER: SC316007 (Scotland)




















Marchbank Estates Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






Marchbank Estates Limited (Registered number: SC316007)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Marchbank Estates Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr D B Steel
Mrs J Steel



SECRETARY: Whitelaw Wells



REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
EH3 6AT



REGISTERED NUMBER: SC316007 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: Bank of Scotland
The Direct Business Bank
PO BOX 17235
Edinburgh
EH11 1YH

Marchbank Estates Limited (Registered number: SC316007)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 144 288
Investment property 5 150,000 290,000
150,144 290,288

CURRENT ASSETS
Cash at bank 6,021 3,703

CREDITORS
Amounts falling due within one year 6 3,373 97,389
NET CURRENT ASSETS/(LIABILITIES) 2,648 (93,686 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

152,792

196,602

CREDITORS
Amounts falling due after more than
one year

7

1,035

2,065
NET ASSETS 151,757 194,537

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 32,167 47,448
Retained earnings 9 119,490 146,989
SHAREHOLDERS' FUNDS 151,757 194,537

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

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

Marchbank Estates Limited (Registered number: SC316007)

Balance Sheet - continued
31 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2024 and were signed on its behalf by:




Mr D B Steel - Director



Mrs J Steel - Director


Marchbank Estates Limited (Registered number: SC316007)

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

1. STATUTORY INFORMATION

Marchbank Estates Limited is a private company, limited by shares , registered in Scotland. 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 and revenue recognition
Turnover represents the receipt of rent.

Rent is recognised in accordance with the lease agreement. Where there are lease incentives such as rent free periods, the rent relating to these incentives are accrued and subsequently released over the full period of the lease agreement.

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 - 20% straight line
Computer equipment - 20% straight line

Investment property
Investment properties are shown at their fair value. Any surplus or deficit arising from changes in fair value are recognised in the profit and loss account for the year. A reduction in value due to fluctuation in the property market conditions is not considered to be permanent.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Marchbank Estates Limited (Registered number: SC316007)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Deferred taxation is provided on any fair value surplus at the rate expected to apply when the property is sold and at the year end is included in the fair value reserve with the relevant change in fair value.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 7,985
Disposals (5,646 )
At 31 March 2024 2,339
DEPRECIATION
At 1 April 2023 7,697
Charge for year 144
Eliminated on disposal (5,646 )
At 31 March 2024 2,195
NET BOOK VALUE
At 31 March 2024 144
At 31 March 2023 288

Marchbank Estates Limited (Registered number: SC316007)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 290,000
Disposals (140,000 )
At 31 March 2024 150,000
NET BOOK VALUE
At 31 March 2024 150,000
At 31 March 2023 290,000

The investment properties are shown at the directors' estimated valuation of open market value as at 31 March 2023. The directors are not professional valuers.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2009 19,032
Valuation in 2012 (50,000 )
Valuation in 2017 8,000
Valuation in 2021 15,000
Valuation in 2022 19,520
Valuation in 2023 37,416
Valuation in 2024 (16,801 )
Cost 117,833
150,000

If Investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 117,833 241,032

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security - 1,423
Other creditors 3,373 95,966
3,373 97,389

Marchbank Estates Limited (Registered number: SC316007)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Contained within other creditors is a balance on the directors' current account of £1,078 (2023 £93,900) which is unsecured, interest-free and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 1,035 2,065

Amounts falling due in more than five years:

Repayable by instalments
Other property loans 1,035 2,065

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 1,035 2,065

The mortgages are secured with a standard security in favour of Mortgage Trust Limited over the company's investment properties.

9. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2023 146,989 47,448 194,437
Profit for the year 1,720 1,720
Dividends (44,500 ) (44,500 )
Transfer 15,281 (15,281 ) -
At 31 March 2024 119,490 32,167 151,657

10. CONTINGENT LIABILITIES

If the company's investment properties were sold at valuation, no chargeable gain for corporation tax will arise (NIL: 2023)