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REGISTERED NUMBER: 02339746 (England and Wales)















Report of the Directors and

Financial Statements for the Year Ended 31 March 2024

for

Marc Darcy Holdings Limited

Marc Darcy Holdings Limited (Registered number: 02339746)






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




Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 4

Statement of Income and Retained Earnings 8

Statement of Financial Position 9

Notes to the Financial Statements 10


Marc Darcy Holdings Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr Aaron Johal
Mr Charanjit Johal
Ms Karendeep Johal
Ms Kimberley Johal
Mr Parmajit Johal
Mr Mandave Singh





SECRETARY: Mr Parmajit Johal





REGISTERED OFFICE: Marc Darcy House
271 - 291 Bury New Road
Salford
Manchester
M7 2YN





REGISTERED NUMBER: 02339746 (England and Wales)





AUDITORS: Ascendis Audit Limited
Unit 3, Building 2
The Colony
Altrincham Road
Wilmslow
Cheshire
SK9 4LY

Marc Darcy Holdings Limited (Registered number: 02339746)

Report of the Directors
for the Year Ended 31 March 2024

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of a holding company with property rental.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

Mr Aaron Johal
Mr Charanjit Johal
Ms Karendeep Johal
Ms Kimberley Johal
Mr Parmajit Johal
Mr Mandave Singh

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Ascendis Audit Limited, will be proposed for re-appointment in accordance with Section 485 of the Companies Act 2006.


Marc Darcy Holdings Limited (Registered number: 02339746)

Report of the Directors
for the Year Ended 31 March 2024

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr Parmajit Johal - Director


30 August 2024

Report of the Independent Auditors to the Members of
Marc Darcy Holdings Limited

Opinion
We have audited the financial statements of Marc Darcy Holdings Limited (the 'company') for the year ended 31 March 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Marc Darcy Holdings Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Marc Darcy Holdings Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Based on our understanding of the company and sector, we identified that the principal risks of non-compliance with laws and regulations related to, but was not limited to, the Companies Act 2006 and UK tax legislation regulation and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006.

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to management bias in accounting estimates and judgements and in fraudulent revenue recognition.

Our procedures to respond to risks identified included the following:

• reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

• enquiring of management about actual and potential litigation and claims;

• performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; and

• in addressing the risk of fraud through management override of controls: testing the appropriateness of journal entries; assessing whether the accounting estimates, judgements and decisions made by management are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

There are inherent limitations in our audit procedures described above. The more removed the laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to inquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Marc Darcy Holdings Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Paul Allan Byrne BA (Double Hons) FCA (Senior Statutory Auditor)
for and on behalf of Ascendis Audit Limited
Unit 3, Building 2
The Colony
Altrincham Road
Wilmslow
Cheshire
SK9 4LY

2 September 2024

Marc Darcy Holdings Limited (Registered number: 02339746)

Statement of Income and
Retained Earnings
for the Year Ended 31 March 2024

2024 2023
£    £   

TURNOVER - -

Administrative expenses (3,818 ) (30 )
(3,818 ) (30 )

Other operating income 130,000 130,000
OPERATING PROFIT 126,182 129,970

Income from shares in group undertakings 1,600,000 5,940,412
Interest receivable and similar income 98,091 16,533
1,824,273 6,086,915

Interest payable and similar expenses - (226 )
PROFIT BEFORE TAXATION 1,824,273 6,086,689

Tax on profit (56,068 ) (27,793 )
PROFIT FOR THE FINANCIAL YEAR 1,768,205 6,058,896

Retained earnings at beginning of year 6,995,110 6,876,626

Dividends (1,600,000 ) (5,940,412 )

RETAINED EARNINGS AT END OF
YEAR

7,163,315

6,995,110

Marc Darcy Holdings Limited (Registered number: 02339746)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 1,421,162 1,421,162
Investments 6 100 100
1,421,262 1,421,262

CURRENT ASSETS
Debtors 7 - 5,599,213
Cash at bank 8,451,686 3,622
8,451,686 5,602,835
CREDITORS
Amounts falling due within one year 8 (2,708,438 ) (27,792 )
NET CURRENT ASSETS 5,743,248 5,575,043
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,164,510

6,996,305

CAPITAL AND RESERVES
Called up share capital 9 1,195 1,195
Retained earnings 7,163,315 6,995,110
SHAREHOLDERS' FUNDS 7,164,510 6,996,305

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

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





Mr Parmajit Johal - Director


Marc Darcy Holdings Limited (Registered number: 02339746)

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

1. STATUTORY INFORMATION

The company is a private company limited by shares, registered in England and Wales (registered number - 02339746). The address of the registered office, and principal place of business, is Marc Darcy House, 271 - 291 Bury New Road, Salford, Manchester, M7 2YN.

The financial statements are prepared in pound sterling (£) which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS
The financial statements contain information about Marc Darcy Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Marc Darcy Group Limited, Marc Darcy House, 271 - 291 Bury New Road, Salford, Manchester, M7 2YN.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
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.

Management do not consider that there are any judgements (apart from those involving estimations) that have been made in the process of applying the entity's accounting policies which have a significant effect on the amounts recognised in the financial statements.

Key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities are as follows:

Property, plant and equipment
The depreciation charges are calculated on estimates and assumptions on asset useful economic lives and expected residual values.

Marc Darcy Holdings Limited (Registered number: 02339746)

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

3. ACCOUNTING POLICIES - continued

TANGIBLE FIXED ASSETS
Tangible fixed assets are stated at cost less accumulated depreciation.

Depreciation is provided at the following annual rates in order to write off the cost less residual value of each asset over its estimated useful life as follows:-

Freehold property- none provided

No depreciation has been provided on the freehold property as the directors consider that the residual value of the property approximates or exceeds the cost carried in the financial statements and that any depreciation charge would not be material.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

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 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.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 April 2023
and 31 March 2024 1,421,162
NET BOOK VALUE
At 31 March 2024 1,421,162
At 31 March 2023 1,421,162

Marc Darcy Holdings Limited (Registered number: 02339746)

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

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 100
NET BOOK VALUE
At 31 March 2024 100
At 31 March 2023 100

7. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Amounts owed by group undertakings - 294,370

Amounts falling due after more than one year:
Amounts owed by group undertakings - 5,304,843

Aggregate amounts - 5,599,213

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 2,624,578 -
Corporation tax 83,860 27,792
2,708,438 27,792

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
119,468 Ordinary £0.01 1,195 1,195

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Amounts owed to group undertakings amounted to £2,624,578 (2023: owed by group undertakings £5,599,213).

11. ULTIMATE CONTROLLING PARTY

There is no single ultimate controlling party.

Marc Darcy Holdings Limited (Registered number: 02339746)

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

12. ULTIMATE PARENT COMPANY

The immediate and ultimate parent undertaking is Marc Darcy Group Limited a company registered in England and Wales. The registered office of Marc Darcy Group Limited is Marc Darcy House, 271 - 291 Bury New Road, Salford, Manchester, M7 2YN. Marc Darcy Group Limited prepares consolidated financial statements which are available from Companies House, Crown Way, Cardiff, CF14 3UZ.