REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
7TH NOVEMBER 2023 TO 31ST DECEMBER 2023 |
FOR |
MARCHES GLOBAL INVESTMENTS LIMITED |
PREVIOUSLY KNOWN AS |
MARCHES GLOBAL USA LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
7TH NOVEMBER 2023 TO 31ST DECEMBER 2023 |
FOR |
MARCHES GLOBAL INVESTMENTS LIMITED |
PREVIOUSLY KNOWN AS |
MARCHES GLOBAL USA LIMITED |
MARCHES GLOBAL INVESTMENTS LIMITED (REGISTERED NUMBER: 15265152) |
PREVIOUSLY KNOWN AS MARCHES GLOBAL USA LIMITED |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 7TH NOVEMBER 2023 TO 31ST DECEMBER 2023 |
Page |
Company information | 1 |
Balance sheet | 2 |
Notes to the financial statements | 4 |
MARCHES GLOBAL INVESTMENTS LIMITED |
PREVIOUSLY KNOWN AS MARCHES GLOBAL USA LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 7TH NOVEMBER 2023 TO 31ST DECEMBER 2023 |
Director: |
Registered office: |
Registered number: |
MARCHES GLOBAL INVESTMENTS LIMITED (REGISTERED NUMBER: 15265152) |
PREVIOUSLY KNOWN AS MARCHES GLOBAL USA LIMITED |
BALANCE SHEET |
31ST DECEMBER 2023 |
Notes | £ | £ |
Fixed assets |
Investments | 4 |
Current assets |
Cash in hand |
Creditors |
Amounts falling due within one year | 5 |
Net current liabilities | ( |
) |
Total assets less current liabilities | ( |
) |
Capital and reserves |
Called up share capital | 6 |
Retained earnings | ( |
) |
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. |
MARCHES GLOBAL INVESTMENTS LIMITED (REGISTERED NUMBER: 15265152) |
PREVIOUSLY KNOWN AS MARCHES GLOBAL USA LIMITED |
BALANCE SHEET - continued |
31ST DECEMBER 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
MARCHES GLOBAL INVESTMENTS LIMITED (REGISTERED NUMBER: 15265152) |
PREVIOUSLY KNOWN AS MARCHES GLOBAL USA LIMITED |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 7TH NOVEMBER 2023 TO 31ST DECEMBER 2023 |
1. | Statutory information |
Marches Global Investments Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
The balance sheet at the year end shows net liabilities of £200 which includes loans from group undertakings of £1,197. The director considers that the company is able to meet its obligations as they fall due and confirms that the group undertakings will continue to support the company. Therefore they consider it appropriate to adopt the going concern basis in preparing these accounts. |
Preparation of consolidated financial statements |
The financial statements contain information about Marches Global Investments Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
MARCHES GLOBAL INVESTMENTS LIMITED (REGISTERED NUMBER: 15265152) |
PREVIOUSLY KNOWN AS MARCHES GLOBAL USA LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 7TH NOVEMBER 2023 TO 31ST DECEMBER 2023 |
2. | Accounting policies - continued |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. |
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset and 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 trade and other receivables and cash and bank balances, are measured at transaction price less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
Other financial assets |
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at the cost less impairment. |
Impairment of financial assets |
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date. |
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss. |
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. |
Derecognition of financial assets |
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducing all of its liabilities. |
MARCHES GLOBAL INVESTMENTS LIMITED (REGISTERED NUMBER: 15265152) |
PREVIOUSLY KNOWN AS MARCHES GLOBAL USA LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 7TH NOVEMBER 2023 TO 31ST DECEMBER 2023 |
2. | Accounting policies - continued |
Basic financial liabilities, including trade and other payables are measured at the transaction price. Other financial liabilities, including bank loans and preference shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
Other financial liabilities |
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge. |
Derecognition of financial liabilities |
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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. |
3. | Employees (including officers) |
The average number of employees during the period was |
MARCHES GLOBAL INVESTMENTS LIMITED (REGISTERED NUMBER: 15265152) |
PREVIOUSLY KNOWN AS MARCHES GLOBAL USA LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 7TH NOVEMBER 2023 TO 31ST DECEMBER 2023 |
4. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
Additions |
At 31st December 2023 |
Net book value |
At 31st December 2023 |
The company's investments at the Balance sheet date in the share capital of companies include the following: |
Registered office: 31435 Stephenson Highway, Madison Heights, MI 48071, USA |
Nature of business: |
% |
Class of shares: | holding |
31.12.23 |
£ |
Aggregate capital and reserves |
5. | Creditors: amounts falling due within one year |
£ |
Amounts owed to group undertakings |
Other creditors |
6. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary shares | £1 | 100 |
7. | Contingent liabilities & lease commitments |
There were no contingent liabilities or lease commitments at 31st December 2023. |
MARCHES GLOBAL INVESTMENTS LIMITED (REGISTERED NUMBER: 15265152) |
PREVIOUSLY KNOWN AS MARCHES GLOBAL USA LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 7TH NOVEMBER 2023 TO 31ST DECEMBER 2023 |
8. | Related party disclosures |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
9. | Ultimate controlling party |
The company is a wholly owned subsidiary of Marches Global Holdings Limited. |
Company registration number: 14348943 |
Company registration address: Apex House, Coldnose Road, Hereford, HR2 6JL |