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REGISTERED NUMBER: 05332946 (England and Wales)






RC Marsden Properties Limited

Financial Statements

for the Year Ended 29 February 2024






RC Marsden Properties Limited (Registered number: 05332946)

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


RC Marsden Properties Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: Mr R C Marsden





SECRETARY: Mrs D J Marsden





REGISTERED OFFICE: RCM House
Sandbeds Trading Estate
Dewsbury Road
Ossett
West Yorkshire
WF5 9ND





REGISTERED NUMBER: 05332946 (England and Wales)





ACCOUNTANTS: SMH Jolliffe Cork Ltd
Chartered Accountants
33 George Street
Wakefield
West Yorkshire
WF1 1LX

RC Marsden Properties Limited (Registered number: 05332946)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 64,676 80,144
Investment property 5 4,410,124 4,410,124
4,474,800 4,490,268

CURRENT ASSETS
Debtors 6 113,144 69,847
Cash at bank and in hand 8,463 39,517
121,607 109,364
CREDITORS
Amounts falling due within one year 7 1,646,104 1,839,792
NET CURRENT LIABILITIES (1,524,497 ) (1,730,428 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,950,303

2,759,840

CREDITORS
Amounts falling due after more than one year 8 (897,280 ) (806,858 )

PROVISIONS FOR LIABILITIES (34,251 ) (38,076 )
NET ASSETS 2,018,772 1,914,906

RC Marsden Properties Limited (Registered number: 05332946)

Balance Sheet - continued
29 February 2024

2024 2023
Notes £    £    £    £   

CAPITAL AND RESERVES
Called up share capital 10 10 10
Share premium 19,990 19,990
Retained earnings 1,998,772 1,894,906
SHAREHOLDERS' FUNDS 2,018,772 1,914,906

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.

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 29 November 2024 and were signed by:





Mr R C Marsden - Director


RC Marsden Properties Limited (Registered number: 05332946)

Notes to the Financial Statements
for the Year Ended 29 February 2024


1. STATUTORY INFORMATION

RC Marsden Properties 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.

The functional and presentation currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

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.

Turnover
Turnover represents the net invoiced value of services provided, net of value added tax. Rental income 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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Fixed assets are initially recorded at 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.

Fair value has been determined by the directors having taken the appropriate professional advice and based on similar properties in the local area.

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 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.


RC Marsden Properties Limited (Registered number: 05332946)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

RC Marsden Properties Limited (Registered number: 05332946)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 50,057 293,243 11,750 31,034 386,084
Additions 3,990 3,831 - - 7,821
At 29 February 2024 54,047 297,074 11,750 31,034 393,905
DEPRECIATION
At 1 March 2023 47,263 222,168 8,300 28,209 305,940
Charge for year 1,696 18,726 862 2,005 23,289
At 29 February 2024 48,959 240,894 9,162 30,214 329,229
NET BOOK VALUE
At 29 February 2024 5,088 56,180 2,588 820 64,676
At 28 February 2023 2,794 71,075 3,450 2,825 80,144

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 4,410,124
NET BOOK VALUE
At 29 February 2024 4,410,124
At 28 February 2023 4,410,124

Investment property has been stated at its fair value as determined by the directors.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 100,708 59,711
Prepayments and accrued income 12,436 10,136
113,144 69,847

RC Marsden Properties Limited (Registered number: 05332946)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 100,688 116,791
Trade creditors 63,541 41,942
Tax 37,663 22,594
Social security and other taxes 5,062 -
VAT 21,355 88,510
Other creditors 1,171,283 1,152,287
Directors' current accounts 200,208 375,050
Accruals and deferred income 46,304 42,618
1,646,104 1,839,792

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 100,688 116,791
Bank loans - 2-5 years 302,065 350,372
Bank loans more 5 yr by instal 494,527 339,695
897,280 806,858

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 494,527 339,695

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 997,968 923,649

Bank borrowings are secured by way of a legal mortgage over all the assets of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary £1 10 10

RC Marsden Properties Limited (Registered number: 05332946)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


11. RELATED PARTY DISCLOSURES

The company has received the following loans from discretionary settlements of which the director is a trustee. These loans are interest bearing and repayable on demand.

2024 2023
£    £   

The DJ Marsden 2005 Settlement 581,782 572,518
The RC Marsden 2005 Settlement 581,782 572,541
1,163,564 1,145,059