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MARK AND ROSE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST MARCH 2024






MARK AND ROSE LIMITED (REGISTERED NUMBER: 07686443)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 8

MARK AND ROSE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTOR: M C Hughes





REGISTERED OFFICE: First Floor, Woburn Court
2 Railton Road
Woburn Road Industrial Estate
Kempston
Bedfordshire
MK42 7PN





REGISTERED NUMBER: 07686443 (England and Wales)





ACCOUNTANTS: HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN

MARK AND ROSE LIMITED (REGISTERED NUMBER: 07686443)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 344 430
Investments 5 349,278 353,443
Investment property 6 956,151 815,000
1,305,773 1,168,873

CURRENT ASSETS
Debtors 7 194,034 286,602
Cash at bank 85,884 200,680
279,918 487,282
CREDITORS
Amounts falling due within one year 8 14,446 18,225
NET CURRENT ASSETS 265,472 469,057
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,571,245

1,637,930

PROVISIONS FOR LIABILITIES 20,761 20,761
NET ASSETS 1,550,484 1,617,169

CAPITAL AND RESERVES
Called up share capital 155 155
Other reserves 135,840 135,840
Retained earnings 1,414,489 1,481,174
SHAREHOLDERS' FUNDS 1,550,484 1,617,169

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 director acknowledges his 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.

MARK AND ROSE LIMITED (REGISTERED NUMBER: 07686443)

BALANCE SHEET - 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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 5th September 2024 and were signed by:





M C Hughes - Director


MARK AND ROSE LIMITED (REGISTERED NUMBER: 07686443)

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

1. STATUTORY INFORMATION

Mark and Rose Limited 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.

Preparation of consolidated financial statements
The financial statements contain information about Mark and Rose Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover for the year represents the following, stated net of value added tax where applicable:

- rental income receivable;
- consultancy fees receivable; and
- dividend income generated from investments.

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% on reducing balance

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost.

Investment property
Investment properties are accounted for where fair value can be measured reliably at each reporting date with changes in fair value recognised in profit or loss. No formal valuation has taken place during the year by a professional independent valuer. The current fair value is based on a recognised valuation model.

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.


MARK AND ROSE LIMITED (REGISTERED NUMBER: 07686443)

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Investments in associated undertakings are shown at cost less any provision for impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1st April 2023
and 31st March 2024 1,049
DEPRECIATION
At 1st April 2023 619
Charge for year 86
At 31st March 2024 705
NET BOOK VALUE
At 31st March 2024 344
At 31st March 2023 430

5. FIXED ASSET INVESTMENTS

2024 2023
£    £   
Shares in group undertakings 100 100
Participating interests 179 179
Loans to undertakings in which the company
has a participating interest

348,999

348,999
Other investments not loans - 4,165
349,278 353,443

MARK AND ROSE LIMITED (REGISTERED NUMBER: 07686443)

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

5. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Shares in Interest Interest
group in joint in Other
undertakings venture associate investments Totals
£    £    £    £    £   
COST
At 1st April 2023 100 1 178 4,165 4,444
Disposals - - - (4,165 ) (4,165 )
At 31st March 2024 100 1 178 - 279
NET BOOK VALUE
At 31st March 2024 100 1 178 - 279
At 31st March 2023 100 1 178 4,165 4,444
Loans to
joint
ventures
£   
At 1st April 2023
and 31st March 2024 348,999

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023 815,000
Additions 141,151
At 31st March 2024 956,151
NET BOOK VALUE
At 31st March 2024 956,151
At 31st March 2023 815,000

Fair value at 31st March 2024 is represented by:
£   
Valuation in 2021 95,886
Valuation in 2023 60,715
Cost 799,550
956,151

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 799,550 658,399

Investment properties were valued on an open market basis on 31st March 2024 by Mr M C Hughes, the director. .

MARK AND ROSE LIMITED (REGISTERED NUMBER: 07686443)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 7,602 151,602
Amounts owed by associates 186,432 135,000
194,034 286,602

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to associates 380 380
Corporation tax 188 7,630
Other creditors 28 28
Directors' current accounts 11,991 8,357
Accruals and deferred income 1,859 1,830
14,446 18,225

ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MARK AND ROSE LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mark and Rose Limited for the year ended 31st March 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Mark and Rose Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mark and Rose Limited and state those matters that we have agreed to state to the director of Mark and Rose Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mark and Rose Limited and its director for our work or for this report.

It is your duty to ensure that Mark and Rose Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Mark and Rose Limited. You consider that Mark and Rose Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Mark and Rose Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN


5th September 2024