REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 September 2023 |
for |
MARCHENT LIMITED |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 September 2023 |
for |
MARCHENT LIMITED |
MARCHENT LIMITED (REGISTERED NUMBER: 04721047) |
Contents of the Financial Statements |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
MARCHENT LIMITED |
Company Information |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
& Statutory Auditors |
1 Beauchamp Court |
10 Victors Way |
Barnet |
Hertfordshire |
EN5 5TZ |
MARCHENT LIMITED (REGISTERED NUMBER: 04721047) |
Balance Sheet |
30 SEPTEMBER 2023 |
30.9.23 | 30.9.22 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Revaluation reserve | 12 |
Retained earnings | 12 |
SHAREHOLDERS' FUNDS |
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. |
MARCHENT LIMITED (REGISTERED NUMBER: 04721047) |
Balance Sheet - continued |
30 SEPTEMBER 2023 |
The financial statements were approved by the director and authorised for issue on |
MARCHENT LIMITED (REGISTERED NUMBER: 04721047) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
1. | STATUTORY INFORMATION |
Marchent Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Income comprises rent receivable from investment properties net of value added tax and is recognised on an |
accruals basis. |
Tangible fixed assets |
Fixtures and fittings | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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. |
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. |
Investments |
Investments in joint ventures are stated at cost less impairment. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
MARCHENT LIMITED (REGISTERED NUMBER: 04721047) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 October 2022 |
and 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for year |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
5. | FIXED ASSET INVESTMENTS |
Interest |
in joint |
venture |
£ |
COST |
At 1 October 2022 |
and 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 October 2022 |
Revaluations | (280,000 | ) |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
MARCHENT LIMITED (REGISTERED NUMBER: 04721047) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
6. | INVESTMENT PROPERTY - continued |
Fair value at 30 September 2023 is represented by: |
£ |
Valuation in 2007 | 612,940 |
Valuation in 2008 | (11,295 | ) |
Valuation in 2009 | (34,435 | ) |
Valuation in 2011 | 1,200,000 |
Valuation in 2015 | 998,692 |
Valuation in 2016 | 60,069 |
Valuation in 2020 | 51,124 |
Valuation in 2021 | (447,964 | ) |
Valuation in 2022 | (230,069 | ) |
Valuation in 2023 | (280,000 | ) |
Cost | 3,400,938 |
5,320,000 |
If investment properties had not been revalued they would have been included at the following historical cost: |
30.9.23 | 30.9.22 |
£ | £ |
Cost | 3,400,938 | 3,400,938 |
Investment properties were valued on an open market basis on 30 September 2023 by directors . |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.23 | 30.9.22 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.23 | 30.9.22 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.9.23 | 30.9.22 |
£ | £ |
Bank loans |
MARCHENT LIMITED (REGISTERED NUMBER: 04721047) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
30.9.23 | 30.9.22 |
£ | £ |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
Repayable by instalments |
Bank loans more 5 yr by instal | 4,000 | 4,000 |
10. | PROVISIONS FOR LIABILITIES |
30.9.23 | 30.9.22 |
£ | £ |
Deferred tax | 206,540 | 216,911 |
Deferred |
tax |
£ |
Balance at 1 October 2022 |
Provided during year | ( |
) |
Balance at 30 September 2023 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.9.23 | 30.9.22 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
1,000 Ordinary shares of £1 were issued during the year |
12. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
At 1 October 2022 | 3,096,473 |
Deficit for the year | ( |
) | ( |
) |
Non distributable reserves | 280,000 | (280,000 | ) | - |
At 30 September 2023 | 2,852,384 |
MARCHENT LIMITED (REGISTERED NUMBER: 04721047) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
13. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 30 September 2023 and 30 September 2022: |
30.9.23 | 30.9.22 |
£ | £ |
**UNKNOWN DIRECTOR 1** |
Balance outstanding at start of year | 127,951 | - |
Amounts advanced | - | 127,951 |
Amounts repaid | (128,939 | ) | - |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | (988 | ) | 127,951 |
The overdrawn director's current account balance was fully repaid within nine months from the year-end. |