Marlins Land and Development Ltd 08307034 false 2022-12-01 2024-01-31 2024-01-31 The principal activity of the company is Property development Digita Accounts Production Advanced 6.30.9574.0 true false 08307034 2022-12-01 2024-01-31 08307034 2024-01-31 08307034 core:RetainedEarningsAccumulatedLosses 2024-01-31 08307034 core:RevaluationReserve 2024-01-31 08307034 core:ShareCapital 2024-01-31 08307034 core:CurrentFinancialInstruments 2024-01-31 08307034 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 08307034 core:Non-currentFinancialInstruments 2024-01-31 08307034 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 08307034 core:AdditionsToInvestments 2024-01-31 08307034 bus:SmallEntities 2022-12-01 2024-01-31 08307034 bus:AuditExemptWithAccountantsReport 2022-12-01 2024-01-31 08307034 bus:FullAccounts 2022-12-01 2024-01-31 08307034 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2024-01-31 08307034 bus:RegisteredOffice 2022-12-01 2024-01-31 08307034 bus:Director1 2022-12-01 2024-01-31 08307034 bus:PrivateLimitedCompanyLtd 2022-12-01 2024-01-31 08307034 core:RetainedEarningsAccumulatedLosses 2022-12-01 2024-01-31 08307034 core:RevaluationReserve 2022-12-01 2024-01-31 08307034 core:ShareCapital 2022-12-01 2024-01-31 08307034 countries:EnglandWales 2022-12-01 2024-01-31 08307034 2022-11-30 08307034 core:RetainedEarningsAccumulatedLosses 2022-11-30 08307034 core:RevaluationReserve 2022-11-30 08307034 core:ShareCapital 2022-11-30 08307034 2021-12-01 2022-11-30 08307034 2022-11-30 08307034 core:RetainedEarningsAccumulatedLosses 2022-11-30 08307034 core:RevaluationReserve 2022-11-30 08307034 core:ShareCapital 2022-11-30 08307034 core:CurrentFinancialInstruments 2022-11-30 08307034 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 08307034 core:Non-currentFinancialInstruments 2022-11-30 08307034 core:Non-currentFinancialInstruments core:AfterOneYear 2022-11-30 08307034 core:RetainedEarningsAccumulatedLosses 2021-12-01 2022-11-30 08307034 core:RevaluationReserve 2021-12-01 2022-11-30 08307034 core:ShareCapital 2021-12-01 2022-11-30 08307034 2021-11-30 08307034 core:RetainedEarningsAccumulatedLosses 2021-11-30 08307034 core:RevaluationReserve 2021-11-30 08307034 core:ShareCapital 2021-11-30 iso4217:GBP xbrli:pure

Registration number: 08307034

Marlins Land and Development Ltd
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Period from 1 December 2022 to 31 January 2024

 

Marlins Land and Development Ltd

(Registration number: 08307034)
Statement of Financial Position as at 31 January 2024

Note

2024
£

2022
£

Fixed assets

 

Investment property

4

1,400,000

1,400,000

Investments

5

8

8

 

1,400,008

1,400,008

Current assets

 

Debtors

6

265,000

344,200

Cash at bank and in hand

 

390,410

800,173

 

655,410

1,144,373

Creditors: Amounts falling due within one year

7

(423,568)

(978,692)

Net current assets

 

231,842

165,681

Total assets less current liabilities

 

1,631,850

1,565,689

Creditors: Amounts falling due after more than one year

7

(1,000,000)

(1,000,000)

Provisions for liabilities

(65,521)

(49,796)

Net assets

 

566,329

515,893

Capital and reserves

 

Called up share capital

10

10

Fair value reserve

203,655

219,380

Profit and loss account

362,664

296,503

Shareholders' funds

 

566,329

515,893

For the financial period ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income and expenditure Statement has been taken.

Approved and authorised by the director on 30 August 2024
 

 

Marlins Land and Development Ltd

(Registration number: 08307034)
Statement of Financial Position as at 31 January 2024

.........................................
Mr M L Davidson
Director

 

Marlins Land and Development Ltd

Statement of Changes in Equity for the Period from 1 December 2022 to 31 January 2024

Share capital
£

Fair value reserve
£

Profit and loss account
£

Total
£

At 1 December 2022

10

219,380

296,503

515,893

Profit for the period

-

-

50,436

50,436

Transfers

-

(15,725)

15,725

-

At 31 January 2024

10

203,655

362,664

566,329

Share capital
£

Fair value reserve
£

Profit and loss account
£

Total
£

At 1 December 2021

10

219,380

243,218

462,608

Profit for the period

-

-

53,285

53,285

At 30 November 2022

10

219,380

296,503

515,893

 

Marlins Land and Development Ltd

Notes to the Unaudited Financial Statements for the Period from 1 December 2022 to 31 January 2024

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: 2 Hope Fountain, Camberley, Surrey, GU15 1JF. England.

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.

Group accounts not prepared

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertaking comprise a small group.

Revenue recognition

Turnover comprises the fair value of the rent received or receivable for the lease of rental properties in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

Rental income is recognised on a straight line basis over the lease term.

Tax

The tax expense for the period comprises current and 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.

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.

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.

 

Marlins Land and Development Ltd

Notes to the Unaudited Financial Statements for the Period from 1 December 2022 to 31 January 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

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 income and expenditure statement 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.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

Marlins Land and Development Ltd

Notes to the Unaudited Financial Statements for the Period from 1 December 2022 to 31 January 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2022 - 1).

4

Investment properties

2024
£

At 1 December 2022

1,400,000

At 31 January 2024

1,400,000

The investment property was valued on an open market basis on 31 January 2024 by the director.

5

Investments

2024
£

2022
£

Investments in subsidiaries

8

8

Subsidiaries

£

Cost or valuation

Additions

8

Carrying amount

At 31 January 2024

8

At 30 November 2022

8

 

Marlins Land and Development Ltd

Notes to the Unaudited Financial Statements for the Period from 1 December 2022 to 31 January 2024

6

Debtors

2024
£

2022
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

265,000

344,200

 

265,000

344,200

Less non-current portion

(247,000)

(266,200)

18,000

78,000


Debtors include amounts of £175,000 (2022 - £194,200) due after more than five years.

7

Creditors

Creditors: amounts falling due within one year

2024
£

2022
£

Taxation and social security

21,792

74,127

Accruals and deferred income

4,488

6,523

Other creditors

397,288

898,042

423,568

978,692

Creditors: amounts falling due after more than one year

Note

2024
£

2022
£

Loans and borrowings

8

1,000,000

1,000,000

8

Loans and borrowings

2024
£

2022
£

Non-current loans and borrowings

Other borrowings

1,000,000

1,000,000