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REGISTERED NUMBER: 11808148 (England and Wales)
























MARGETTS INVESTMENTS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






MARGETTS INVESTMENTS LTD (REGISTERED NUMBER: 11808148)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MARGETTS INVESTMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: J Margetts





REGISTERED OFFICE: 6-7 Castle Gate
Castle Street
Hertford
Hertfordshire
SG14 1HD





REGISTERED NUMBER: 11808148 (England and Wales)





ACCOUNTANTS: TC Group
6-7 Castle Gate
Castle Street
Hertford
Hertfordshire
SG14 1HD

MARGETTS INVESTMENTS LTD (REGISTERED NUMBER: 11808148)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 100 100
Investment property 6 1,134,900 1,134,900
1,135,000 1,135,000

CURRENT ASSETS
Debtors 7 320,038 349,149

CREDITORS
Amounts falling due within one year 8 810,917 810,109
NET CURRENT LIABILITIES (490,879 ) (460,960 )
TOTAL ASSETS LESS CURRENT LIABILITIES 644,121 674,040

CREDITORS
Amounts falling due after more than one
year

9

617,175

617,175
NET ASSETS 26,946 56,865

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 26,945 56,864
26,946 56,865

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

MARGETTS INVESTMENTS LTD (REGISTERED NUMBER: 11808148)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 28 November 2024 and were signed by:





J Margetts - Director


MARGETTS INVESTMENTS LTD (REGISTERED NUMBER: 11808148)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Margetts Investments Ltd 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.

Group accounts
The financial statements contain information about Margetts Investments Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Office Equipment : 25% straight line

Investments in subsidiaries
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

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
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

MARGETTS INVESTMENTS LTD (REGISTERED NUMBER: 11808148)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 1 ).

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 March 2023
and 29 February 2024 1,524
DEPRECIATION
At 1 March 2023
and 29 February 2024 1,524
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. FIXED ASSET INVESTMENTS
Investments
in
Subsidiary
£   
COST
At 1 March 2023
and 29 February 2024 100
NET BOOK VALUE
At 29 February 2024 100
At 28 February 2023 100

MARGETTS INVESTMENTS LTD (REGISTERED NUMBER: 11808148)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 1,134,900
NET BOOK VALUE
At 29 February 2024 1,134,900
At 28 February 2023 1,134,900

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2021 231,885
Valuation in 2023 (65,472 )
Cost 968,487
1,134,900

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 320,038 349,149

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 10) 28,133 26,629
Trade creditors 4,740 8,840
Taxation and social security 55,492 55,492
Other creditors 722,552 719,148
810,917 810,109

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 10) 617,175 617,175

10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 20,633 19,129
Bank loans 7,500 7,500
28,133 26,629

MARGETTS INVESTMENTS LTD (REGISTERED NUMBER: 11808148)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


10. LOANS - continued
2024 2023
£    £   
Amounts falling due between two and five years:
Bank loans 617,175 617,175

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 624,675 624,675

First legal mortgages over the freehold of 35 West Street and 32-34 Fore Street, Hertford.

12. CONTROLLING PARTY

During the year J Margetts, the director controlled the company by virtue of a controlling interest in 100% of the issued ordinary share capital.