Registered number
06448629
Marino Estates Limited
Filleted Accounts
31 March 2024
Marino Estates Limited
Registered number: 06448629
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,371 2,789
Current assets
Debtors 4 17,680 17,729
Investments held as current assets 5 82,467 10,000
Cash at bank and in hand 124,525 170,706
224,672 198,435
Creditors: amounts falling due within one year 6 (75,208) (61,018)
Net current assets 149,464 137,417
Total assets less current liabilities 151,835 140,206
Provisions for liabilities (450) (530)
Net assets 151,385 139,676
Capital and reserves
Called up share capital 100 100
Profit and loss account 151,285 139,576
Shareholder's funds 151,385 139,676
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G Marino
Director
Approved by the board on 31 August 2024
Marino Estates Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents rents receivable from residential properties.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 15% reducing balance method
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Furniture, fittings, equipment
£
Cost
At 1 April 2023 16,552
At 31 March 2024 16,552
Depreciation
At 1 April 2023 13,763
Charge for the year 418
At 31 March 2024 14,181
Net book value
At 31 March 2024 2,371
At 31 March 2023 2,789
4 Debtors 2024 2023
£ £
Trade debtors 17,680 17,729
5 Investments held as current assets 2024 2023
£ £
Fair value
Listed investments 82,467 10,000
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 953 -
Taxation and social security costs 2,089 1,193
Other creditors 72,166 59,825
75,208 61,018
7 Related party transactions
The figure for turnover represents rents receivable from properties owned personally by the director.
8 Other information
Marino Estates Limited is a private company limited by shares and incorporated in Wales. Its registered office is:
66 Whitchurch Road
Maindy
Cardiff
South Glamorgan
CF14 3LX
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