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REGISTERED NUMBER: SC104911 (Scotland)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

Marqglen Limited

Marqglen Limited (Registered number: SC104911)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Marqglen Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: L D Grainger CA
Mrs J F Grainger
Mrs A J Ballingall MBA



SECRETARY: Mrs A J Ballingall MBA



REGISTERED OFFICE: Bank Chambers
31 The Square
Cumnock
East Ayrshire
KA18 1AT



REGISTERED NUMBER: SC104911 (Scotland)



ACCOUNTANTS: WR Accountants
Bank Chambers
31 The Square
Cumnock
Ayrshire
KA18 1AT



SOLICITORS: Clark Boyle
33A Gordon Street
Glasgow
G1 3PA

Marqglen Limited (Registered number: SC104911)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,200,097 1,200,117

CURRENT ASSETS
Debtors 5 74,405 92,945
Cash at bank 79,159 52,472
153,564 145,417
CREDITORS
Amounts falling due within one year 6 97,577 79,821
NET CURRENT ASSETS 55,987 65,596
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,256,084

1,265,713

PROVISIONS FOR LIABILITIES 50,000 50,000
NET ASSETS 1,206,084 1,215,713

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 1,196,084 1,205,713
SHAREHOLDERS' FUNDS 1,206,084 1,215,713

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 directors acknowledge their 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.

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 Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:



L D Grainger CA - Director


Marqglen Limited (Registered number: SC104911)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Land is not depreciated.

Depreciation on other assets is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Buildings 5% straight Line
Fixtures and fittings 15% reducing balance
Computer Equipment20% reducing balance

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for retrospectively.

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.

Marqglen Limited (Registered number: SC104911)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2022
and 30 September 2023 1,200,000 14,990 1,214,990
DEPRECIATION
At 1 October 2022 - 14,873 14,873
Charge for year - 20 20
At 30 September 2023 - 14,893 14,893
NET BOOK VALUE
At 30 September 2023 1,200,000 97 1,200,097
At 30 September 2022 1,200,000 117 1,200,117

Land and buildings were obtained at cost of £1,200,000 on 1 September 2018 from a related company. The directors have formed the view that the residual value of land and buildings exceeds it's cost value at the balance sheet date. Depreciation has therefore not been charged on buildings in the year under review.


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 38,545 44,101
Amounts owed by group undertakings - 10,691
Other debtors 35,860 38,153
74,405 92,945

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Prepaid rental income 46,306 35,196
Trade creditors 7,147 7,422
Amounts owed to group undertakings 780 -
Amounts owed to participating interests - 471
Taxation and social security 16,637 11,152
Other creditors 26,707 25,580
97,577 79,821

Marqglen Limited (Registered number: SC104911)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Loans (to)/from directors30.09.23
£
L D Grainger
At 30 September 2022(30,973)
Loaned (30,000)
Repaid 42,100
At 30 September 2023(18,873)

A J Ballingall
At 1 October 2022 and 30 September 20235,000
Interest is charged on directors' loans to the company at 5% per annum. Loans are repayable on demand.

8. ULTIMATE CONTROLLING PARTY

Marqglen Limited is a wholly owned subsidiary of Marqglen Group Limited, a company incorporated in Scotland registered number SC203206.

Mr L D Grainger, who is a director of both companies, is the ultimate controlling party of that company and therefore also the ultimate controlling party of Marqglen Limited.