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Registration number: 01501552

Market Square Investments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Market Square Investments Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Market Square Investments Limited

Company Information

Directors

Mr B Hallett

Mrs A M Hallett

Mr S J Hallett

Mr J W Hallett

Mr T K Hallett

Registered office

Ferry Cottage
Passage Road
Noss Mayo
Plymouth
Devon
PL8 1EU

Accountants

Carter Nicholls Ltd
Victoria House
Stanbridge Park
Staplefield Lane
Staplefield
West Sussex
RH17 6AS

 

Market Square Investments Limited

(Registration number: 01501552)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

2,400,000

2,400,000

Capital and reserves

 

Called up share capital

5

50,810

50,810

Revaluation reserve

1,066,294

1,066,294

Other reserves

28,240

28,240

Retained earnings

1,254,656

1,254,656

Shareholders' funds

 

2,400,000

2,400,000

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 September 2024 and signed on its behalf by:
 

.........................................
Mr B Hallett
Director

 

Market Square Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Ferry Cottage
Passage Road
Noss Mayo
Plymouth
Devon
PL8 1EU
United Kingdom

These financial statements were authorised for issue by the Board on 26 September 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

Market Square Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 5).

4

Investments

2023
£

2022
£

Investments in subsidiaries

2,400,000

2,400,000

Subsidiaries

£

Cost or valuation

At 1 January 2023

2,400,000

Provision

Carrying amount

At 31 December 2023

2,400,000

At 31 December 2022

2,400,000

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2023

2022

Subsidiary undertakings

Market Square Limited

Ferry Cottage, Passage Road, Noss Mayo, Plymouth PL8 1EU

England

ordinary

100%

100%

Market Square Trading Limited

Ferry Cottage, Passage Road, Noss Mayo, Plymouth PL8 1EU

England

ordinary

75%

75%

 

Market Square Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Subsidiary undertakings

Market Square Limited

The principal activity of Market Square Limited is property investment and development and hospitality.

Market Square Trading Limited

The principal activity of Market Square Trading Limited is hospitality.

5

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

50,810

50,810

50,810

50,810

       

6

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows: