Company Registration No. 04958505 (England and Wales)
MARIE JAMES (UK) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
Hampshire
PO6 3TH
MARIE JAMES (UK) LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
MARIE JAMES (UK) LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mrs. C Bright
Mrs. L Carter
Mr. R Bright
Secretary
Mr. R Bright
Company number
04958505
Registered office
Kingswood Green Lane
Chilworth
Southampton
United Kingdom
SO16 7JW
Accountants
TC Group
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
Hampshire
PO6 3TH
MARIE JAMES (UK) LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment properties
3
12,853,451
12,853,451
Investments
4
102,348,278
48,937,871
115,201,729
61,791,322
Current assets
Stocks
262,646
-
Debtors
5
1,270,540
-
0
Cash at bank and in hand
104,928,234
140,577,597
106,461,420
140,577,597
Creditors: amounts falling due within one year
6
(1,387,652)
(572,412)
Net current assets
105,073,768
140,005,185
Total assets less current liabilities
220,275,497
201,796,507
Provisions for liabilities
7
(1,605,660)
(104,081)
Net assets
218,669,837
201,692,426
Capital and reserves
Called up share capital
8
3,065
3,065
Share premium account
43,799,749
43,799,749
Revaluation reserve
5,032,650
115,800
Profit and loss reserves
169,834,373
157,773,812
Total equity
218,669,837
201,692,426
MARIE JAMES (UK) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 1 October 2024 and are signed on its behalf by:
Mrs. C Bright
Director
Company Registration No. 04958505
The notes on pages 4 to 9 form part of these financial statements
MARIE JAMES (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information

Marie James (UK) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Kingswood Green Lane, Chilworth, Southampton, United Kingdom, SO16 7JW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

The turnover income shown in the profit and loss account represents interest receivable and dividends received from investments during the period.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

MARIE JAMES (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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 deducting all of its liabilities.

MARIE JAMES (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 6 -
Basic financial liabilities

Basic financial liabilities, including loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

 

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

MARIE JAMES (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 7 -
Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
3
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
12,853,451
4
Fixed asset investments
2024
2023
£
£
Investments
102,348,278
48,937,871
MARIE JAMES (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
4
Fixed asset investments
(Continued)
- 8 -
Movements in fixed asset investments
Shares in group undertakings
Listed investments
Total
£
£
£
Cost or valuation
At 1 April 2023
28,000,000
20,937,871
48,937,871
Additions
-
48,240,022
48,240,022
Valuation changes
-
6,686,039
6,686,039
Other movement
-
(1,515,654)
(1,515,654)
At 31 March 2024
28,000,000
74,348,278
102,348,278
Carrying amount
At 31 March 2024
28,000,000
74,348,278
102,348,278
At 31 March 2023
28,000,000
20,937,871
48,937,871
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
1,270,540
-
0
6
Creditors: amounts falling due within one year
2024
2023
£
£
Other taxation and social security
1,305,852
538,265
Other creditors
81,800
34,147
1,387,652
572,412
7
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
1,605,660
104,081
MARIE JAMES (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 9 -
8
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
3,065 Ordinary Shares of £1 each
3,065
3,065
3,065
3,065
9
Operating lease commitments
Lessor

At the reporting end date the company had contracted with tenants for the following minimum lease payments:

2024
2023
£
£
7,067,928
7,950,428
2024-03-312023-04-01falseCCH SoftwareCCH Accounts Production 2024.210No description of principal activityMrs. C BrightMrs. L CarterMr. R BrightMr. R Brightfalsefalse049585052023-04-012024-03-3104958505bus:Director12023-04-012024-03-3104958505bus:Director22023-04-012024-03-3104958505bus:CompanySecretaryDirector12023-04-012024-03-3104958505bus:CompanySecretary12023-04-012024-03-3104958505bus:Director32023-04-012024-03-3104958505bus:RegisteredOffice2023-04-012024-03-31049585052024-03-31049585052023-03-3104958505core:CurrentFinancialInstruments2024-03-3104958505core:CurrentFinancialInstruments2023-03-3104958505core:Non-currentFinancialInstruments2024-03-3104958505core:ShareCapital2024-03-3104958505core:ShareCapital2023-03-3104958505core:SharePremium2024-03-3104958505core:SharePremium2023-03-3104958505core:RevaluationReserve2024-03-3104958505core:RevaluationReserve2023-03-3104958505core:RetainedEarningsAccumulatedLosses2024-03-3104958505core:RetainedEarningsAccumulatedLosses2023-03-3104958505core:ShareCapitalOrdinaryShares2024-03-3104958505core:ShareCapitalOrdinaryShares2023-03-31049585052022-04-012023-03-31049585052023-03-3104958505core:WithinOneYear2024-03-3104958505core:WithinOneYear2023-03-3104958505bus:OrdinaryShareClass12023-04-012024-03-3104958505bus:OrdinaryShareClass12024-03-3104958505bus:PrivateLimitedCompanyLtd2023-04-012024-03-3104958505bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3104958505bus:FRS1022023-04-012024-03-3104958505bus:AuditExemptWithAccountantsReport2023-04-012024-03-3104958505bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP