IRIS Accounts Production v24.2.0.383 04721047 director 1.10.22 30.9.23 30.9.23 0 0 false true false false true false Fair value model Ordinary 1.00000 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh047210472022-09-30047210472023-09-30047210472022-10-012023-09-30047210472021-09-30047210472021-10-012022-09-30047210472022-09-3004721047ns15:EnglandWales2022-10-012023-09-3004721047ns14:PoundSterling2022-10-012023-09-3004721047ns10:Director12022-10-012023-09-3004721047ns10:PrivateLimitedCompanyLtd2022-10-012023-09-3004721047ns10:SmallEntities2022-10-012023-09-3004721047ns10:AuditExempt-NoAccountantsReport2022-10-012023-09-3004721047ns10:SmallCompaniesRegimeForDirectorsReport2022-10-012023-09-3004721047ns10:SmallCompaniesRegimeForAccounts2022-10-012023-09-3004721047ns10:FullAccounts2022-10-012023-09-3004721047ns10:OrdinaryShareClass12022-10-012023-09-30047210471ns10:OrdinaryShareClass12022-10-012023-09-3004721047ns10:RegisteredOffice2022-10-012023-09-3004721047ns5:CurrentFinancialInstruments2023-09-3004721047ns5:CurrentFinancialInstruments2022-09-3004721047ns5:Non-currentFinancialInstruments2023-09-3004721047ns5:Non-currentFinancialInstruments2022-09-3004721047ns5:ShareCapital2023-09-3004721047ns5:ShareCapital2022-09-3004721047ns5:RevaluationReserve2023-09-3004721047ns5:RevaluationReserve2022-09-3004721047ns5:RetainedEarningsAccumulatedLosses2023-09-3004721047ns5:RetainedEarningsAccumulatedLosses2022-09-3004721047ns5:FurnitureFittings2022-10-012023-09-3004721047ns5:FurnitureFittings2022-09-3004721047ns5:FurnitureFittings2023-09-3004721047ns5:FurnitureFittings2022-09-3004721047ns5:CostValuation2022-09-3004721047ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-3004721047ns5:WithinOneYearns5:CurrentFinancialInstruments2022-09-3004721047ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-09-3004721047ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-09-3004721047ns5:DeferredTaxation2022-09-3004721047ns5:DeferredTaxation2022-10-012023-09-3004721047ns5:DeferredTaxation2023-09-3004721047ns10:OrdinaryShareClass12023-09-3004721047ns5:RetainedEarningsAccumulatedLosses2022-09-3004721047ns5:RevaluationReserve2022-09-3004721047ns5:RetainedEarningsAccumulatedLosses2022-10-012023-09-30
REGISTERED NUMBER: 04721047 (England and Wales)















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: Mr Z Zi Pear





REGISTERED OFFICE: 1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ





REGISTERED NUMBER: 04721047 (England and Wales)





ACCOUNTANTS: BBK Partnership
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 1,923 3,631
Investments 5 50 50
Investment property 6 5,320,000 5,600,000
5,321,973 5,603,681

CURRENT ASSETS
Debtors 7 35,318 207,893
Cash at bank 316,255 156,090
351,573 363,983
CREDITORS
Amounts falling due within one year 8 (92,603 ) (130,761 )
NET CURRENT ASSETS 258,970 233,222
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,580,943

5,836,903

CREDITORS
Amounts falling due after more than one
year

9

(2,521,019

)

(2,522,519

)

PROVISIONS FOR LIABILITIES 10 (206,540 ) (216,911 )
NET ASSETS 2,853,384 3,097,473

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Revaluation reserve 12 1,702,151 1,982,151
Retained earnings 12 1,150,233 1,114,322
SHAREHOLDERS' FUNDS 2,853,384 3,097,473

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 September 2024 and were signed by:





Mr Z Zi Pear - Director


MARCHENT LIMITED (REGISTERED NUMBER: 04721047)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

Marchent Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on cost

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 18,723
DEPRECIATION
At 1 October 2022 15,092
Charge for year 1,708
At 30 September 2023 16,800
NET BOOK VALUE
At 30 September 2023 1,923
At 30 September 2022 3,631

5. FIXED ASSET INVESTMENTS
Interest
in joint
venture
£   
COST
At 1 October 2022
and 30 September 2023 50
NET BOOK VALUE
At 30 September 2023 50
At 30 September 2022 50

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 5,600,000
Revaluations (280,000 )
At 30 September 2023 5,320,000
NET BOOK VALUE
At 30 September 2023 5,320,000
At 30 September 2022 5,600,000

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 1,939 2,982
Other debtors 33,379 204,911
35,318 207,893

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 2,000 2,000
Trade creditors 428 753
Taxation and social security 52,332 85,888
Other creditors 37,843 42,120
92,603 130,761

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Bank loans 2,521,019 2,522,519

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 2,509,019 2,510,519

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 216,911
Provided during year (10,371 )
Balance at 30 September 2023 206,540

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.23 30.9.22
value: £    £   
1,000 Ordinary £1 1,000 1,000

1,000 Ordinary shares of £1 were issued during the year for cash of £ 1,000 .

12. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 October 2022 1,114,322 1,982,151 3,096,473
Deficit for the year (244,089 ) (244,089 )
Non distributable reserves 280,000 (280,000 ) -
At 30 September 2023 1,150,233 1,702,151 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.