REGISTERED NUMBER: |
MARK RANDALL DEVELOPMENTS LIMITED |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
REGISTERED NUMBER: |
MARK RANDALL DEVELOPMENTS LIMITED |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
MARK RANDALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04238718) |
Contents of the Financial Statements |
for the year ended 31 March 2024 |
Page |
Company Information | 1 |
Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 4 |
MARK RANDALL DEVELOPMENTS LIMITED |
Company Information |
for the year ended 31 March 2024 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
250 Fowler Avenue |
Farnborough |
Hampshire |
GU14 7JP |
Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Mark Randall Developments Limited |
The following reproduces the text of the report prepared for the directors 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 Income Statement and certain other primary statements and the Directors' Report 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 Randall Developments Limited for the year ended 31 March 2024 which comprise the Profit and Loss Account, 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. |
This report is made solely to the Board of Directors of Mark Randall Developments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mark Randall Developments Limited and state those matters that we have agreed to state to the Board of Directors of Mark Randall Developments Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Mark Randall Developments 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 profit of Mark Randall Developments Limited. You consider that Mark Randall Developments 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 Randall Developments 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. |
250 Fowler Avenue |
Farnborough |
Hampshire |
GU14 7JP |
MARK RANDALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04238718) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Stocks |
Debtors | 5 |
Investments | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
Net current assets |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 8 |
Retained earnings |
Shareholders' funds |
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. |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
MARK RANDALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04238718) |
Notes to the Financial Statements |
for the year ended 31 March 2024 |
1. | Statutory information |
Mark Randall Developments Limited is a |
2. | Accounting policies |
Accounting convention |
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest pound. |
Cash and cash equivalents |
Cash and cash equivalents are basic financial assets and include deposits held at call with banks. |
Turnover |
The turnover shown in the profit and loss account represents amounts receivable from the sale of properties which are recognised on the unconditional exchange of contracts. |
Tangible fixed assets |
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. |
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: |
Fixtures, fittings & equipment | 25% reducing balance |
Motor vehicles | 25% reducing balance |
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss. |
Work in progress |
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress. |
MARK RANDALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04238718) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
2. | Accounting policies - continued |
Financial instruments |
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Basic financial assets |
Basic financial assets, which include debtors and bank balances, are measured at transaction price. |
Basic financial liabilities |
Basic financial liabilities, including creditors, loans from fellow connected companies, are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price. |
Taxation |
The tax expense represents the sum of the tax currently payable and deferred tax. |
Current tax |
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. |
Deferred tax |
Deferred taxation is provided in full respect of taxation, deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred taxation balance has not been discounted. |
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. |
3. | Employees and directors |
The average number of employees during the year was |
MARK RANDALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04238718) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
4. | Tangible fixed assets |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
Cost |
At 1 April 2023 |
and 31 March 2024 |
Depreciation |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
Net book value |
At 31 March 2024 |
At 31 March 2023 |
5. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Other debtors |
6. | Current asset investments |
2024 | 2023 |
£ | £ |
Unlisted investments | - | 150,000 |
7. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |