Registered number
07072653
MARCHIN LIMITED
Accounts
24 December 2023
MARCHIN LIMITED
Accountants' Report
Accountants' report to the directors of
MARCHIN LIMITED
You consider that the company is exempt from an audit for the year ended 24 December 2023. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
CRYSTAL BUSINESS SERVICES LTD
Chartered Accountants
CHARTERED ACCOUNTANTS
264 STONEY STANTON RD.
COVENTRY
CV1 4FP
20 September 2024
MARCHIN LIMITED
Registered number: 07072653
Balance Sheet
as at 24 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 6,819 8,621
Current assets
Investments held as current assets 4 4,577,518 4,599,750
Cash at bank and in hand 83,054 14,443
4,660,572 4,614,193
Creditors: amounts falling due within one year 5 (471,671) (195,503)
Net current assets 4,188,901 4,418,690
Net assets 4,195,720 4,427,311
Capital and reserves
Called up share capital 500 500
Profit and loss account 4,195,220 4,426,811
Shareholders' funds 4,195,720 4,427,311
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
MRS ANITA PATEL
Director
Approved by the board on 20 September 2024
MARCHIN LIMITED
Notes to the Accounts
for the year ended 24 December 2023
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes profits earned from the sale of stocks and revenues receiveable from the rendering of services. Turnover from the sale of stocks is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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 25% Reducing balance
Investments
Listed investments are measured at fair value. 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.
Current tax 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 25 December 2022 32,281
Additions 470
At 24 December 2023 32,751
Depreciation
At 25 December 2022 23,660
Charge for the year 2,272
At 24 December 2023 25,932
Net book value
At 24 December 2023 6,819
At 24 December 2022 8,621
4 Investments held as current assets 2023 2022
£ £
Fair value
Listed investments 4,577,518 4,599,750
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs (23,114) (23,114)
Other creditors 494,785 218,617
471,671 195,503
6 Controlling party
The company is controlled by the director, Mrs Anita Patel, who together with her spouse holds 60% of the ordinary issued share capital. The other 40% ordinary issued shares are held by their children.
7 Other information
MARCHIN LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
264, Stoney Stanton Road
Coventry
CV1 4FP
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